In the first half of fiscal 2010 (April 1, to Sept. 30, 2011), a recovery in commodity prices, particularly for crude oil and iron ore, boosted the consolidated net profits of five of Japan's six major general trading companies (GTCs) rated by Standard & Poor's Ratings Services. The GTCs also increased exports of automobiles and steel products, while their food and chemical products businesses performed strongly. The five GTCs that reported year-on-year profit increases are: Mitsui & Co. Ltd. (A+/Stable/A-1), Sumitomo Corp. (A/Stable/A-1), ITOCHU Corp. (A-/Stable/A-2), Marubeni Corp. (BBB/Stable/--), and Sojitz Corp. (BBB-/Stable/--). On the other hand, Mitsubishi Corp. (A+/Stable/A-1) recorded a profit decline. Resource and energy prices, such as crude oil, hard coking coal, and iron ore prices, rose...
Companies mentioned in this report are:
- Mitsubishi Corp.
- Mitsui & Co. Ltd.
- Sumitomo Corp.
- Marubeni Corp.
- ITOCHU Corp.
- Sojitz Corp.
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