Country Garden's property services arm expects annual earnings to fall
Crypto firm Tether and its founders finalising move to El Salvador
Bakery franchise chain Crumbl explores $2 billion sale, sources say
Mike McCarthy is not returning as coach of the Dallas Cowboys, AP source says
Minnesota earns 1st women's AP Top 25 ranking since 2019. UCLA, South Carolina, Notre Dame still 1-3
LA Rams fans say Monday matchup against Vikings in Arizona is ‘more than a game’
TOKYO (Reuters) -Japanese trading houses Mitsui and Mitsubishi posted increases in first-quarter net profit thanks to asset sales and a weaker yen, beating estimates.
Mitsui reported a 9.2% increase in net profit to 276.1 billion yen on the year, and Mitsubishi saw a 12% rise to 354.4 billion yen, beating forecasts in an LSEG poll of analysts by 3% and 22%, respectively.
Mitsubishi attributed the rise in profits to the sale of two metallurgical coal mines and Mitsui from the sale of machinery and infrastructure assets. Both also benefited from a weaker yen thanks to assets overseas.
Mitsui and Mitsubishi kept their forecasts for the year ending March 2025 unchanged at 900 billion yen and 950 billion yen, respectively.
($1 = 149.8400 yen)
(Reporting by Katya Golubkova; Editing by Christian Schmollinger and Bernadette Baum)
