Financial Digest

Mitsubishi raises profit forecast on higher coal, LNG prices

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 66%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

TOKYO : Mitsubishi Corp on Tuesday raised its full-year net profit forecast by 21 per cent to a record 1.03 trillion yen ($7 billion), amid strength in metals and energy segments thanks to higher prices of coking coal and liquefied natural gas (LNG).Like global energy companies, Japanese trading houses ha

TOKYO : Mitsubishi Corp on Tuesday raised its full-year net profit forecast by 21 per cent to a record 1.03 trillion yen , amid strength in metals and energy segments thanks to higher prices of coking coal and liquefied natural gas .

Mitsubishi boosted its profit outlook for the year to March 31 to over 1 trillion yen from its May estimate of 850 billion yen. The latest forecast was in line with a mean estimate of 1.08 trillion yen in a poll of 10 analysts by Refinitiv. "Still, downside risks are also factored in for the second half of the financial year, taking into account concerns about a slowdown in the global economy," he said.

Reflecting robust earnings, Mitsubishi raised an annual dividend forecast to 155 yen per share from its earlier guidance of 150 yen, while announcing a plan to buy back its own shares worth up to 70 billion yen, which means a total payout ratio of 28.7 per cent.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SoftBank faces tech stock weakness at Q2 earningsTOKYO: SoftBank Group Corp is expected to face further weakness in tech stocks when it reports second-quarter earnings on Friday, after two brutal quarters that have shaken Masayoshi Son's tech conglomerate. The Vision Fund investing arm booked US$50 billion in losses in the six months to end-June as valua
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Japan's cabinet approves 2nd extra budget worth 29.1 trln yen - MOFTOKYO : Japanese Prime Minister Fumio Kishida's cabinet approved a second supplementary budget on Tuesday for this fiscal year to fund an economic stimulus package, backed by extra new debt, the Ministry of Finance (MOF) said.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Trump-linked stocks rally on possible 2024 presidential run:Shares of Digital World Acquisition Corp, the blank-check company looking to take Donald Trump's social media venture public, rallied on Monday over the former president's possible run for the 2024 presidential election.Trump is considering launching a third bid for the White House this month, three of his a
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »