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MITSUI & CO., LTD.

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Mitsui : aims to accelerate business in healthcare and nutrition segments

05/07/2021 | 12:52am EDT
FILE PHOTO: Logo of Japanese trading company Mitsui & Co. is seen in Tokyo

TOKYO (Reuters) - Mitsui & Co plans to accelerate its expansion into healthcare and nutrition using IHH Healthcare Bhd, the Japanese trading house's CEO said on Friday, without addressing a media report that it plans to take the Malayasian health group private.

"What we are targeting in healthcare and nutrition areas in the long term is quite large," Mitsui CEO Kenichi Hori said during an analyst call on Friday, adding that Mitsui will use IHH and other assets to achieve that aim.

Bloomberg reported on Thursday that Mitsui, which owns a 32.9% stake in IHH Healthcare worth around $12 billion, plans to take IHH private.

Hori did not refer to the Bloomberg report on Friday's analyst call, which media were permitted to listen to but not allowed to ask questions. A Mitsui spokesperson declined to comment when contacted by Reuters.

Mitsui, which has large exposures to commodities and energy and last week reported a 14 percent drop in net profit for the year through March, is expanding into healthcare as the world is gripped by the worst health crisis in a century.

The company has been approached by private equity on the potential share buyout of the Kuala Lumpur-traded company, Bloomberg News reported on Thursday.

The discussions are preliminary and there is no certainty over whether any potential transaction will emerge, the report said, citing unidentified people with knowledge of the matter.

Mitsui shares were up about 1.2% compared with a wider market rise of 0.3%. IHH Healthcare shares were up around 0.7% after jumping nearly 8% on Thursday.

($1 = 4.1135 ringgit)

(Reporting by Yuka Obayashi, writing by Aaron Sheldrick; Editing by Jane Wardell; Editing by Christian Schmollinger)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
IHH HEALTHCARE 1.67% 5.48 End-of-day quote.-0.36%
MITSUI & CO., LTD. -0.20% 2547 End-of-day quote.34.80%
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Financials
Sales 2021 6 447 B 58 773 M 58 773 M
Net income 2021 292 B 2 660 M 2 660 M
Net Debt 2021 3 803 B 34 671 M 34 671 M
P/E ratio 2021 14,7x
Yield 2021 3,22%
Capitalization 4 167 B 37 957 M 37 985 M
EV / Sales 2021 1,24x
EV / Sales 2022 0,92x
Nbr of Employees 45 624
Free-Float 94,4%
Chart MITSUI & CO., LTD.
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Technical analysis trends MITSUI & CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 2 714,17 JPY
Last Close Price 2 547,00 JPY
Spread / Highest target 29,6%
Spread / Average Target 6,56%
Spread / Lowest Target -21,5%
EPS Revisions
Managers and Directors
NameTitle
Kenichi Hori President, CEO & Representative Director
Takakazu Uchida CFO, Representative Director & Executive VP
Tatsuo Yasunaga Chairman
Yoshiaki Takemasu Chief Compliance & Human Resources Officer
Toshiro Mutoh Independent Outside Director
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