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Mitsubishi Corp sees 2 pct gain in profit this year on chemical, machinery sales
May 9, 2017 / 5:42 AM / 7 months ago

Mitsubishi Corp sees 2 pct gain in profit this year on chemical, machinery sales

TOKYO, May 9 (Reuters) - Mitsubishi Corp on Tuesday forecast a 2.2 percent increase in net profit for the year through March 2018, as the Japanese trading house expects stronger earnings from machinery and chemical products.

The company expects profit of 450 billion yen ($3.97 billion) this year, less than a mean estimate of 432.02 billion yen from 11 analysts polled by Thomson Reuters I/B/E/S.

For the year ended in March, Mitsubishi swung to profitability, reporting a profit of 440.3 billion yen, against a loss of 149.4 billion yen a year earlier.

The result was below a mean estimate of 451.74 billion yen among analysts, but in line with its own earlier estimate of 440 billion yen. ($1 = 113.3100 yen) (Reporting by Yuka Obayashi; Editing by Aaron Sheldrick)

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