|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||14.46 - 14.46|
|52 Week Range||12.82 - 18.10|
|Beta (5Y Monthly)||0.91|
|PE Ratio (TTM)||6.91|
|Forward Dividend & Yield||0.75 (5.18%)|
|Ex-Dividend Date||Mar 30, 2020|
|1y Target Est||N/A|
Mitsui & Co on Friday forecast a 54% plunge in net profit for the year to March 2021 as business activity slows amid the global coronavirus pandemic, and warned it may trim or delay some of its energy and resources investment plans. The Japanese trading house forecast a net profit of 180 billion yen ($1.68 billion) for the year to March 31, from 391.5 billion yen in the year just gone, saying the COVID-19 crisis will likely slash around 200 billion yen from its profit. Slumping commodity prices and dwindling demand in the face of global lockdowns and travel restrictions will erode its energy and metals profits by around 100 billion yen, while its automobiles, steel and chemical segments will be also hit, Chief Executive Officer Tatsuo Yasunaga said.
Japanese trading house Mitsui & Co Ltd said on Friday it may book an impairment loss of 50 billion to 70 billion yen ($458 million to $642 million) in the year ending March 31 due to falling commodity prices and coronavirus impact. Mitsui said it is likely to book an impairment loss on its stakes in the Eagle Ford shale oil and gas project in the United States and the Tempa Rossa oil field in Italy among other oil and gas projects due to plunging oil prices. International benchmark oil prices have more than halved since the start of the year as the rapid spread of the coronavirus interrupts business activity, while a crude glut swelled after the collapse of an output deal between the Organization of Petroleum Exporting Countries and Russia (OPEC+).
Spaceflight Industries, owner of both Spaceflight, Inc. and BlackSky, is selling the Spaceflight, Inc. portion of its business to Japanese industrial corporation Mitsui & Co. and Yamasa . The deal will see Spaceflight continue to operate as an independent business based in the U.S. and headquartered in Seattle, with the same mission of providing rideshare launch services for small satellite payloads. Meanwhile, Spaceflight Industries will use the funds generated from the sale (the terms of the deal were not disclosed) to re-invest in its BlackSky business.
Japan's Mitsui & Co sees China's coronavirus outbreak possibly slowing manufacturing activity, while slumping commodities prices, including iron ore, may weigh on its earnings, the trading house's executive said on Tuesday. "Producing activities are expected to slow down, which means an impact could be fairly broad," Mitsui Chief Financial Officer Takakazu Uchida told an earnings news conference. Hong Kong reported its first death from the newly identified coronavirus on Tuesday, the second outside mainland China from an outbreak that has killed more than 420 people, spread around the world and raised fears for global economic growth.
The fire that began on March 17 at Intercontinental Terminals Co (ITC) spread black smoke across Houston, shut the ship channel, slowed production at local oil refineries and closed roadways and schools as it spread from one giant storage tank to 10 others before being extinguished on March 20. "ITC has been cooperating with the CSB and other federal, state and local regulatory authorities in their respective investigations of the March fire at the Deer Park facility," said a company spokesman.
The fire that began on March 17 spread a black cloud of smoke across Houston, shut the ship channel, led to cuts in production at nearby refineries, closed roadways and school districts as it spread from one giant storage tank to 10 more before being put out on March 20. The board said the fire began in piping next to a 80,000-barrel tank containing naphtha.
Japan's Mitsui & Co has put its 40% stake in the BassGas project off southeastern Australia up for sale, the company said on Thursday. Mitsui's stake in the BassGas project, which includes the undeveloped Trefoil gas project, could be worth about A$360 million ($244 million), according to Credit Suisse. Mitsui Australia's spokesman said Rothschild has been engaged to advise on the sale of the stake, which Mitsui acquired with its takeover of oil and gas producer AWE last year.
Sumitomo Mitsui Trust Bank Ltd will consider charging account holders a fee if the Bank of Japan (BOJ) decides to deepen negative interest rates, the head of the bank told the Sankei newspaper. Charging fees "is something for the banking industry as a whole to think about," Sumitomo Mitsui Trust Bank President Masaru Hashimoto told the Sankei in an interview.
Beyond Meat Inc has shelved plans to enter Japan, according to a Japan-based investor, focusing more on the U.S. market where it recently bolstered funding to fuel an expansion and beat out emerging faux-meat rivals. Japanese trading house Mitsui & Co Ltd, which bought a small stake in Beyond Meat in 2016, said it previously planned to partner with the U.S. company to sell plant-based meat alternatives in Japan, but there was no longer such a project. "We look forward to bringing our revolutionary products to more countries across Asia, including Japan," said Chuck Muth, Beyond Meat's chief growth officer.
Beyond Meat (NASDAQ: BYND ) no longer has plans to enter the Japanese market and will focus more on the U.S. market instead, according to a Reuters report . The Japanese trading house Mitsui & Co Ltd, ...
Beyond Meat Inc <BYND.O> has shelved plans to enter Japan, according to a Japan-based investor, focusing more on the U.S. market where it recently bolstered funding to fuel an expansion and beat out emerging faux-meat rivals. Japanese trading house Mitsui & Co Ltd <8031.T>, which bought a small stake in Beyond Meat in 2016, said it previously planned to partner with the U.S. company to sell plant-based meat alternatives in Japan, but there was no longer such a project. "We look forward to bringing our revolutionary products to more countries across Asia, including Japan," said Chuck Muth, Beyond Meat's chief growth officer.