1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Mitsui & Co., Ltd.
  6. News
  7. Summary
    8031   JP3893600001


Delayed Japan Exchange  -  05/25 09:48:25 pm EDT
3160.00 JPY   -0.44%
05/24MITSUI : Invests in Crusoe Energy Holdings—A Cloud Computing Business Operator That Is Helping to Reduce Environmental Loads
05/23MITSUI : Enters into Participation Agreement for Carbon Sequestration Project in the U.S. with Sempra Infrastructure, TotalEnergies, and Mitsubishi Corporation
05/23Sempra to develop carbon capture project with Total, Mitsui, Mitsubishi
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Mitsui CEO: Higher demand for heavy crude boosts its profit

10/31/2019 | 07:46am EDT
Japanese trading company Mitsui & Co's President and CEO Tatsuo Yasunaga speaks during an interview with Reuters in Tokyo

TOKYO (Reuters) - Higher demand in low-sulphur heavy crude ahead of new rules on shipping fuel is helping to boost the profit of Mitsui & Co as the Greater Enfield project in Australia began production in August as scheduled, the Japanese trading house's CEO said on Thursday.

"The timely start of production of fine-quality low-sulphur heavy crude at the upstream project had also a ripple effect to our energy trading unit in Singapore," Mitsui Chief Executive Officer Tatsuo Yasunaga told an analyst meeting.

A Mitsui executive said in March that the company will produce more heavy crude oil this year once projects in Australia and Italy are completed, in part boosting its ability to provide low sulphur marine fuel. The International Maritime Organization will prohibit ships from using fuels with a sulphur content above 0.5 percent from Jan. 1, 2020, compared with 3.5 percent today.

Mitsui may consider selling its stake in the new coal-fired power plant projects in Malaysia and Morocco, under a new 3-year business plan which will start next April, if such deals would bring capital gains, Yasunaga said, citing the company's plan to increase renewable energy within its global power generation portfolio.

Iron ore prices have stayed at higher-than-expected levels in April-September due to strong demand from China and reduced supply due to a collapse of Vale tailings dam in Brazil, but the prices are expected to soften in the October-March half, Yasunaga said.

Mitsui on Wednesday stuck to its forecast for a record high profit of 450 billion yen ($4.16 billion) for the year to March 31, 2020, saying stronger-than-expected iron ore prices and solid profits from trading of heavy oil and liquefied natural gas will likely offset weaker performance in chemical and other non-resource businesses.

($1 = 108.2700 yen)

(Reporting by Yuka Obayashi; Editing by Chizu Nomiyama)

© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 0.04% 5.151 Delayed Quote.-18.46%
LONDON BRENT OIL -0.38% 113.87 Delayed Quote.45.50%
MITSUI & CO., LTD. -0.35% 3160 Delayed Quote.14.74%
MITSUI FUDOSAN CO., LTD. 4.33% 2895.5 Delayed Quote.18.02%
RIPPLE (XRP/BTC) -0.93%End-of-day quote.-22.67%
RIPPLE (XRP/EUR) 0.42% 0.3801 End-of-day quote.-49.21%
S&P GSCI CRUDE OIL INDEX 0.12% 605.3928 Real-time Quote.45.95%
VALE S.A. 0.31% 84.3 Delayed Quote.6.36%
WTI -0.38% 110.351 Delayed Quote.45.58%
YASUNAGA CORPORATION -0.15% 685 Delayed Quote.-26.69%
All news about MITSUI & CO., LTD.
05/24MITSUI : Invests in Crusoe Energy Holdings—A Cloud Computing Business Operator That ..
05/23MITSUI : Enters into Participation Agreement for Carbon Sequestration Project in the U.S. ..
05/23Sempra to develop carbon capture project with Total, Mitsui, Mitsubishi
05/23Sempra signs carbon capture deal with TotalEnergies, Mitsui, Mitsubishi
05/20Japan's Nomura to enter forestry asset management with stake purchase
05/20Nomura Holdings, Inc. and Mitsui & Co., Ltd. agreed to acquire 67.5% stake in New Fores..
05/19MITSUI : to acquire Additional Shares of Australian nature-based real assets and natural c..
05/18ATLAS Space Operations, Inc. announced that it expects to receive funding from Mitsui &..
05/13Japan's Mizuho, SMFG book combined $1.3 bln Russia provisions
05/12Mitsui & Co., Ltd. entered into an agreement to acquire 33.7% stake in Climate Friendly..
More news
Analyst Recommendations on MITSUI & CO., LTD.
More recommendations
Sales 2023 11 268 B 88 551 M 88 551 M
Net income 2023 841 B 6 607 M 6 607 M
Net Debt 2023 3 445 B 27 077 M 27 077 M
P/E ratio 2023 5,96x
Yield 2023 3,89%
Capitalization 5 081 B 39 934 M 39 934 M
EV / Sales 2023 0,76x
EV / Sales 2024 0,78x
Nbr of Employees 44 509
Free-Float 96,3%
Chart MITSUI & CO., LTD.
Duration : Period :
Mitsui & Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MITSUI & CO., LTD.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 10
Last Close Price 3 174,00 JPY
Average target price 3 860,00 JPY
Spread / Average Target 21,6%
EPS Revisions
Managers and Directors
Kenichi Hori Manager-Products Market
Makoto Kan Chief Executive Officer
Tetsuya Shigeta CFO & Managing Executive Officer
Tatsuo Yasunaga Manager-Project Works
Yoshiaki Takemasu Manager-Agri Science Business
Sector and Competitors
1st jan.Capi. (M$)
MITSUI & CO., LTD.14.74%39 539