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    8031   JP3893600001

MITSUI & CO., LTD.

(8031)
  Report
Delayed Japan Exchange  -  02:00 2022-10-06 am EDT
3336.00 JPY   +1.28%
10/05Mitsui OSK signs charter deal with new Russian operator of Sakhalin-2 LNG project
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Russia's Gazprom to get 50% of Sakhalin-2 LNG project replacement entity -reports

08/03/2022 | 01:45pm EDT
FILE PHOTO: Illustration shows Gazprom logo and Russian flag

(Reuters) - Gazprom will receive 50% of a new Russian entity replacing the Sakhalin Energy liquefied natural gas (LNG) project, Russian news agencies reported on Wednesday, citing a government decree.

Interfax said the new entity will be registered in the city of Yuzhno-Sakhalinsk on the Russian Pacific island of Sakhalin. The Sakhalin-2 LNG plant is located 60 km (37 miles) south of Yuzhno-Sakhalinsk.

Japanese trading houses Mitsui & Co and Mitsubishi Corp on Tuesday cut the value of their stakes in the Sakhalin-2 LNG project by 217.7 billion yen ($1.62 billion) after Moscow's move to seize control of it.

Western countries and their allies, including Japan, imposed tough sanctions on Russia after it sent troops into Ukraine in late February. Moscow retaliated by putting obstacles on western businesses and investors leaving Russia, including in some rare cases by seizing assets.

Interfax reported that Gazprom will get just over a 50% stake and the remaining 49.99% will be held by the new company itself until after existing Sakhalin-2 shareholders apply for a stake which they should do within a month.

If foreign shareholders, which also include Royal Dutch Shell with a 27.5% stake, do not apply for a share in the new entity, it will be evaluated and sold by the government to a Russian entity, Interfax said, citing an Aug. 2 decree.

($1 = 134.0900 yen)

(Reporting by Reuters; Editing by David Goodman and Alexander Smith)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GAZPROM 0.04% 198 End-of-day quote.-42.32%
MITSUBISHI CORPORATION 0.87% 4280 Delayed Quote.16.18%
MITSUI & CO., LTD. 1.28% 3336 Delayed Quote.20.95%
S&P GSCI NATURAL GAS INDEX 1.54% 329.338 Real-time Quote.86.46%
SHELL PLC -2.80% 2312 Delayed Quote.46.66%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 2.29% 61.375 Delayed Quote.-21.25%
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Analyst Recommendations on MITSUI & CO., LTD.
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Financials
Sales 2023 12 301 B 84 956 M 84 956 M
Net income 2023 906 B 6 256 M 6 256 M
Net Debt 2023 3 626 B 25 043 M 25 043 M
P/E ratio 2023 5,74x
Yield 2023 3,76%
Capitalization 5 236 B 36 161 M 36 161 M
EV / Sales 2023 0,72x
EV / Sales 2024 0,78x
Nbr of Employees 44 346
Free-Float 94,2%
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Technical analysis trends MITSUI & CO., LTD.
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 10
Last Close Price 3 336,00 JPY
Average target price 4 002,00 JPY
Spread / Average Target 20,0%
EPS Revisions
Managers and Directors
Kenichi Hori Manager-Products Market
Makoto Kan Chief Executive Officer
Tetsuya Shigeta Chief Financial Officer & Representative Director
Tatsuo Yasunaga Manager-Project Works
Isao Kohiyama Chief Operating Officer-IT & Communication
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