Japanese trading company Mitsubishi reported a 12% year-on-year increase in net profit for the first quarter, reaching 354.4 billion yen ($2.37 billion) on Thursday. This result surpassed estimates, driven by asset sales and a weaker yen.
Analysts polled by LSEG had anticipated a net profit of 290.8 billion yen. Mitsubishi exceeded this forecast primarily due to the sale of two metallurgical coal mines and the yen’s depreciation.
($1 = 149.8400 yen)
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