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Japan s Mitsui & Co, Mitsubishi Corp and Itochu Corp on Thursday each lifted their annual profit estimates to above 800 billion yen , thanks to higher commodity and energy prices. . | February 4, 2022 ....
Japan’s Mitsui & Co, Mitsubishi Corp and Itochu Corp on Thursday each lifted their annual profit estimates to above 800 billion yen ($7 billion), thanks to higher commodity and energy prices. The three trading houses, in addition to Marubeni Corp, raised net profit forecasts for the financial year ending on March 31 to record levels, . ....
4 Min Read TOKYO, Feb 5(Reuters) - Japanese trading houses are speeding up their efforts to shift away from coal and other fossil fuel assets amid a growing decarbonisation push worldwide and to match an ambitious pledge by government of becoming a carbon neutral by 2050. The move comes as the trading houses are re-thinking their long-term strategies around upstream investment, Wood Mackenzie Asia Pacific Vice Chair Gavin Thompson, said in a recent note. “If 2020 was a year for the re-evaluation of future plans, then 2021 looks to be the year of implementation,” he said. For example, Itochu said on Thursday it will offload its stake in a Colombian coal mine, shedding 80% of its thermal coal assets, and will sell the remaining stake in two Australian mines “as soon as possible.” ....