TOKYO, Aug 4 (Reuters) - Japanese trading house
Mitsubishi ( MSBHF ) on Monday posted a net profit of 203.1
billion yen ($1.4 billion) in the three months to June 30, down
43% from a year ago but beating analysts' forecasts.
An LSEG poll of analysts had expected the company to post
180.3 billion yen in the first-quarter net profit. In the same
period of last year, Mitsubishi ( MSBHF ) saw a net profit of 354.4
billion yen.
This year, the profit was mainly down due to the absence of
gains from asset sales and weaker prices in the Australian
steelmaking coal business, the company said.
Mitsubishi ( MSBHF ) left its forecast for the fiscal year ending next
March unchanged at 700 billion yen.
Billionaire investor Warren Buffett's Berkshire Hathaway ( BRK/A ) has
taken minority stakes in Japan's top five trading houses,
including Mitsubishi ( MSBHF ).
($1 = 147.6600 yen)