FILE PHOTO: The logo of Japanese trading company Mitsui & Co. is seen in Tokyo, Japan, January 10, 2018. Picture taken January 10, 2018. REUTERS/Toru Hanai/File PhotoTOKYO : Japan's Mitsui expects net profit to fall 15.4 per cent to 900 billion yen for the fiscal year ending in March, hit by weaker performance of its energy business, the trading house said on Wednesday.
The company posted a drop of 6 per cent in net profit for the year ended in March to 1.1 trillion yen on lower prices of metallurgical coal, crude oil and gas but outperformed an LSEG poll of analysts that forecast net profit of 973 billion yen. In the fiscal year ending in March 2026, however, net profit is expected at 920 billion yen, Mitsui said. The company plans to buy back up to 40 million of its shares worth up to 200 billion yen by Sept. 20 to boost shareholders' returns.
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