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Japan's Mitsui raises full-year revenue projection to $6 bln on LNG service, possession sales

Japanese trading house Mitsui raised its fullyear net earnings forecast to March 2025 to 920 billion yen ($ 6 billion) on Friday, from 900 billion yen formerly, on a more powerful outlook for its liquefied natural gas ( LNG) service and asset sales.

Mitsui, involved in LNG tasks in the Middle East and Russia, to name a few areas, raised its projection for energy sector earnings by 40 billion yen while also expecting the exact same amount from possession sales in its machinery and innovation units.

We will even more reinforce our existing and new services, with a particular concentrate on development motorists such as LNG, mobility, healthcare and protein, Chief Financial Officer Tetsuya Shigeta informed an instruction.

Nevertheless, like peer Mitsubishi, Mitsui anticipates lower make money from its mineral and metal department amid weaker iron ore and metallurgical coal costs, as increased steel exports from China capture need.

Mitsui published net earnings of 412 billion yen in the 6 months to September, down 10% from the year-ago duration when it taken advantage of appraisal gains in its way of life and innovation organizations.

(source: Reuters)