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Industry Report Card: Japan's Major General Traders Post Sizable Profit Increases In 1H FY2010 On Commodity Markets Recovery Nov 10 Product Image

Industry Report Card: Japan's Major General Traders Post Sizable Profit Increases In 1H FY2010 On Commodity Markets Recovery Nov 10

  • Published: November 2010
  • Region: Japan
  • Standard & Poors

FEATURED COMPANIES

  • ITOCHU Corp.
  • Marubeni Corp.
  • Mitsubishi Corp.
  • Mitsui & Co. Ltd.
  • Sojitz Corp.
  • Sumitomo Corp.
  • MORE

Abstract
Five of Japan's six major general trading companies (GTCs) rated by Standard & Poor's Ratings Services boosted profits substantially in the first half of fiscal 2010 (April 1, to Sept. 30, 2010). A rise in resource commodities prices, as well as a recovery in demand in Asian markets, fueled the profit increases. The major Japanese GTCs are Mitsubishi Corp. (A+/Stable/A-1), Mitsui & Co. Ltd. (A+/Negative/A-1), Sumitomo Corp. (A/Stable/A-1), ITOCHU Corp. (A-/Stable/A-2), Marubeni Corp. (BBB/Stable/--), and Sojitz Corp. (BBB-/Stable/--). Sojitz would also have seen a profit increase if extraordinary factors such as gains on sales of marketable securities, which were booked in the previous year, were excluded. In the first half of fiscal 2010, prices of resource and energy commodities bounced...

Companies mentioned in this report are:
- Mitsubishi Corp.
- Mitsui & Co. Ltd.
- Sumitomo Corp.
- Marubeni Corp.
- ITOCHU Corp.
- Sojitz Corp.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. READ MORE >

- Mitsubishi Corp.
- Mitsui & Co. Ltd.
- Sumitomo Corp.
- Marubeni Corp.
- ITOCHU Corp.
- Sojitz Corp.

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