TOKYO: Japanese commodities trading giant Mitsubishi Corporation said on Wednesday its first-quarter net profit grew 17 percent as higher coking coal prices boosted earnings.
Mitsubishi, the biggest of Japan's clutch of trading houses by assets, said net profit for April-June was 117.8 billion yen, up from 100.8 billion yen in the same period a year earlier.
For the full year through March, Mitsubishi maintained its forecast for net profit at 450 billion yen, up 2.2 percent from last year but below a mean estimate of 463 billion yen from nine analysts polled by Thomson Reuters.
The company previously said it expects stronger earnings from its machinery and chemical product businesses this year.