TOKYO (Reuters) - Japanese trading house Mitsubishi ( MSBHF ) posted a 12% year-on-year increase in first-quarter net profit to 354.4 billion yen ($2.37 billion) on Thursday thanks to asset sales and weaker yen, beating estimates.

Mitsubishi ( MSBHF ) had been expected to post a net profit of 290.8 billion yen, according to a LSEG poll of analysts, beating the forecast thanks to the sale of two metallurgical coal mines and depreciation of the yen.

($1 = 149.8400 yen)