MSBHY - Mitsubishi Corporation

Other OTC - Other OTC Delayed Price. Currency in USD
49.37
0.00 (0.00%)
At close: 3:46PM EDT
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Previous Close49.37
Open49.36
Bid0.00 x 0
Ask0.00 x 0
Day's Range49.31 - 49.45
52 Week Range47.66 - 60.80
Volume8,673
Avg. Volume21,007
Market Cap37.713B
Beta (3Y Monthly)0.48
PE Ratio (TTM)7.02
EPS (TTM)7.03
Earnings DateN/A
Forward Dividend & Yield2.35 (4.72%)
Ex-Dividend Date2019-03-28
1y Target Est46.00
Trade prices are not sourced from all markets
  • Moody's

    Japan Retail Fund Investment Corporation -- Moody's announces completion of a periodic review of ratings of Japan Retail Fund Investment Corporation

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Japan Retail Fund Investment Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • Reuters

    Shell, Mitsubishi, KKR on Eneco auction shortlist -sources

    Royal Dutch Shell, Japan's Mitsubishi Corp and private equity firm KKR have made the final round in an auction for Dutch utility Eneco, three sources close to the matter said. Eneco, estimated by analysts to be worth about 3 billion euros ($3.4 billion), aims to wrap up the process by Christmas. Royal Dutch Shell has teamed with Dutch pension fund manager PGGM while KKR has teamed with Dutch lender Rabobank, the sources said.

  • Moody's

    Mitsubishi UFJ Lease & Finance Co., Ltd. -- Moody's announces completion of a periodic review of ratings of Mitsubishi UFJ Lease & Finance Co., Ltd.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Mitsubishi UFJ Lease & Finance Co., Ltd. Tokyo, September 27, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Mitsubishi UFJ Lease & Finance Co., Ltd. (MUL) and other ratings that are associated with the same analytical unit. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • Oil Trader Fired by Mitsubishi Denies Allegation of Hidden Bets
    Bloomberg

    Oil Trader Fired by Mitsubishi Denies Allegation of Hidden Bets

    (Bloomberg) -- The Chinese trader fired by Mitsubishi Corp. for allegedly losing $320 million in oil trading said he was acting on his managers’ orders and there were no unauthorized transactions, according to his lawyer.The losses at Mitsubishi’s unit Petro-Diamond Singapore Pte resulted from “premature” settlement of the derivatives positions by the company, said Joseph Chen, the Singapore-based lawyer for the trader, Wang Xingchen. “Our client takes the position that he had not engaged in unauthorized trades in crude oil derivatives,” Chen said in a statement.Japan’s biggest trading house on Friday said it expected Petro-Diamond to book the losses after discovering an unidentified trader “repeatedly” engaged in unauthorized crude derivative deals since January, disguising them as hedging transactions. The loss is equivalent to about 6% of Mitsubishi’s projected profit for the year.The case is the latest in a long history of busts in the oil trading business, an often opaque and idiosyncratic world where cargoes of crude worth hundreds of millions of dollars quietly change hands. While these losses may require Mitsubishi to lower projected earnings for the year, they will also raise questions about internal controls at its trading unit, though the company has said they were sufficient.The transactions were discovered in mid-August after a slump in oil prices triggered large derivatives losses at the company, Mitsubishi said in its statement. The employee was absent from work at the time, it said.The trader manipulated data in Petro-Diamond’s risk management system so that the transactions looked like they were related to real deals with customers, Mitsubishi said. After recognizing that they could result in a loss for the company, it closed the derivatives positions. The trader was fired on Sept. 18 and reported to police the following day, it said.Internal ControlsBut Wang’s lawyer told Bloomberg that his client followed internal reporting procedures and policy at all times and his trades were reviewed by Petro-Diamond’s finance team. “Internal controls were in place” throughout the duration of the period in question, he said.Wang, also known as Jack, was on vacation and then medical leave in August, according to his lawyer. He didn’t abscond from work and doesn’t want to identify his current location because of concerns for his safety, Chen said, adding that Wang has given “appropriate responses” to Petro-Diamond.“Our understanding of the facts is how we described in our statement to the press, and we have every intention to give the authorities our complete cooperation,” Mitsubishi and Petro-Diamond said in emailed statements in response to Bloomberg’s inquiries.The Singapore Police Force confirmed that a report has been filed and it’s looking into the matter, declining to provide any other information.The company said it subsequently conducted an internal review of its unit and concluded that it has sufficient controls in place. It added that it’s tightened governance to ensure that any similar “improprieties can be detected at a much earlier stage.”London, SingaporeThere’s little information that’s publicly available about Wang yet Bloomberg News has pieced together his biography from several sources, including former colleagues and trading partners. They asked not to be identified because they don’t want to speak publicly about the matter or they are not authorized to do so.Born in 1983 in the northeastern Chinese province of Liaoning, Wang studied for a bachelors degree in mathematics with actuarial science from the University of Southampton, U.K., and later a postgraduate diploma at the University of Oxford.He joined the London office of Chinese oil trader Unipec in 2014. In November 2016, he moved to the State Oil Co. of Azerbaijan in London. He relocated to Singapore with Socar in August 2017. He left the following June and joined Petro-Diamond in November 2018.Wang worked for Socar for a short period of time, but was dismissed along with the rest of his team “due to reduction of trading volumes,” according to a spokesman for the company. Nobody replied to an email inquiry sent to Unipec’s Beijing headquarters.Wang was hired by Petro-Diamond to help expand its business with Chinese counterparties, especially the independent Chinese refiners -- known as teapots -- that are an emerging force in that country’s massive oil industry, the people said.Petro-Diamond is Mitsubishi’s overseas oil business, headquartered in Singapore. The unit trades crude as well as petroleum products including naphtha, gasoline and fuel oil. Petro-Diamond Singapore had revenue of $6.7 billion in the year ending March 2018 and EBIT of $18 million, according to the financial profile filed with the city’s accounting regulator.It represents a tiny corner of Mitsubishi, the biggest of Japan’s so-called sogo shosha, the group of massive conglomerates involved in everything from iron ore to fish farms. Mitsubishi forecast full year net income of 600 billion yen ($5.6 billion) in August.The oil trading community is still reeling from news of yet another bust. Only last year, China’s Unipec took a $656 million hit from wrong-way bets on crude.And while they’re still a long way off the infamous $1.2 billion blow-up at Metallgesellschaft AG in 1994, Petro-Diamond’s losses will still go down as some of the more significant in the history of the oil business.\--With assistance from Stephen Stapczynski, Matthew Campbell, Zulfugar Agayev and Chanyaporn Chanjaroen.To contact the reporters on this story: Alfred Cang in Singapore at acang@bloomberg.net;Serene Cheong in Singapore at scheong20@bloomberg.netTo contact the editors responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net, Jodi SchneiderFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Mitsubishi says Singapore-based oil trader lost $320 million in unauthorised trades
    Reuters

    Mitsubishi says Singapore-based oil trader lost $320 million in unauthorised trades

    TOKYO/SINGAPORE (Reuters) - Mitsubishi Corp, Japan's biggest trading house by revenue, said on Friday a trader at its Singapore-based unit has lost $320 million through unauthorised transactions in crude oil derivatives, and the matter has been reported to the police. The announcement is a blow for the Japanese trading company, which invests in everything from salmon to natural gas and trades many commodities around the world. It is the first loss of its kind in Mitsubishi's history, a company spokesman told Reuters.

  • ‘Rogue’ Oil Trader Loses $320 Million In Massive Trading Bust
    Oilprice.com

    ‘Rogue’ Oil Trader Loses $320 Million In Massive Trading Bust

    A rogue trader working for a Singapore-based subsidiary of Japanese trading giant Mitsubishi recently booked a $320 million loss after several unauthorized derivatives trades went sour

  • Mitsubishi Will Likely Cut Earnings Forecast on Rogue Oil Losses
    Bloomberg

    Mitsubishi Will Likely Cut Earnings Forecast on Rogue Oil Losses

    (Bloomberg) -- A $320 million loss by a rogue oil trader at Mitsubishi Corp.’s Singapore unit will likely prompt the Japanese company to cut its full-year net income forecast, SMBC Nikko Securities Inc. said."While the losses should be one-off, they will weigh on earnings in the second quarter," analyst Akira Morimoto wrote in a note dated Sept. 20. Against a backdrop of recent declines in coking coal prices, it seems likely that the firm will have to cut its full-year net income guidance of 600 billion yen ($5.6 billion), he said.Mitsubishi said Friday that a trader at its Petro-Diamond Singapore Pte unit executed unauthorized transactions disguised as legitimate hedges for customers. The Chinese national, whom the company declined to name, was fired and reported to police, according to a statement.SMBC Nikko’s Morimoto kept Mitsubishi stock at a neutral rating and its target price at 2,900 yen. His estimate for Mitsubishi’s full-year profit of 582 billion yen excludes the oil trading losses. The Japanese trading company has seven buy ratings, five holds and no sell recommendations, with an average target price of 3,231 yen, according to Bloomberg data.Nomura Securities analyst Yasuhiro Narita maintained his buy rating and a target price of 3,580 yen. "It is unclear how this will affect bottom-line profits attributable to owners of the parent as the company has yet to disclose other related trading losses or the effect of tax allocation accounting," he wrote in a Sept. 20 note.SMBC Nikko said the inadequate supervision of the repeated derivatives trades raises questions about Mitsubishi’s risk management process."We cannot avoid getting a negative impression as to why this was not detected earlier and it raises questions about the firm’s risk management framework and governance," Morimoto wrote in the note.To contact the reporter on this story: Teo Chian Wei in Tokyo at cwteo@bloomberg.netTo contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, Teo Chian WeiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    Factbox: Traders in trouble - how does Mitsubishi's loss stack up?

    Nick Leeson, the original rogue trader, was sentenced to 6-1/2 years in Singapore's Changi Prison after his stock futures trades in the city-state sank Barings Bank. March 1996 - Yasuo Hamanaka, a former Sumitomo Corp trader, was sentenced to eight years for forgery and fraud for amassing $2.6 billion in trading losses.

  • Rogue Oil Trader Causes $320 Million Loss at Mitsubishi Corp. Unit
    Bloomberg

    Rogue Oil Trader Causes $320 Million Loss at Mitsubishi Corp. Unit

    (Bloomberg) -- Mitsubishi Corp. said a rogue oil trader at its Singapore unit lost $320 million in unauthorized transactions disguised as legitimate hedges for customers.The employee, a Chinese national working at Petro-Diamond Singapore Pte, has been fired and reported to police, Mitsubishi said in a statement, declining to name him. The trader, hired in November 2018 to handle oil business with China, “repeatedly” engaged in the unauthorized deals since January, disguising them to “look like hedge transactions,” the parent company said.A person familiar with the matter identified the trader as Wang Xingchen, also known as Jack Wang. Calls to Wang’s mobile phone wouldn’t connect, while a person who answered the phone at Petro-Diamond’s Singapore office said he has left the company. No other current contact details were available.A loss of $320 million would be less than one-tenth of Mitsubishi’s projected profit for the year. In August, the giant trading house, the biggest of Japan’s so-called sogo shosha, forecast full year net income of 600 billion yen ($5.6 billion).The oil market has a long and colorful history of trading busts. Metallgesellschaft AG suffered a $1.2 billion loss in 1994 when a hedging strategy failed. In 2004, China Aviation Oil suffered its infamous $550 million blunder, when the company fell afoul of a surge in prices.Another Japanese trading company, Mitsui & Co., was forced to close its Singapore oil-trading unit in 2007 after a trader lost $81 million in hidden naphtha trades. The dealer and his supervisor were imprisoned. And in December last year, two top officials at Chinese oil trading giant Unipec were suspended following losses of about $656 million.Beyond oil, another Japanese trading house Sumitomo Corp. suffered the worst ever rogue trading event in commodities in 1996 when Yasuo Hamanaka lost $2.6 billion dealing copper on the London Metal Exchange.In the latest scandal to befall the industry, Mitsubishi said the employee manipulated data in Petro-Diamond’s risk management system so that the transactions appeared to be associated with actual trades with customers.“Large losses from derivatives trading” were incurred since July as the price of oil dropped, and the unit began an investigation into the transactions in the middle of August when the employee was absent from work, Mitsubishi said. Brent oil, the international benchmark, dropped 16% from its July peak of $67.01 to as low as $56.23 in the first week of August.Petro-Diamond quickly closed the derivatives positions once it realized they could result in losses for the company and also determined that they weren’t associated with any transactions with customers. Mitsubishi said investigations confirmed that its unit had “sufficient internal controls in place.”The trader was fired Sept. 18 and reported to police the next day. The Singapore Police Force confirmed that a report has been lodged, while declining to give any other information.Petro-Diamond Singapore had revenue of $6.7 billion in the year ending March 2018 and EBIT of $18 million, according to the financial profile filed with the city’s accounting regulator.(Updates with police response in penultimate paragraph.)\--With assistance from Aaron Clark and Andrea Tan.To contact Bloomberg News staff for this story: Grace Huang in Tokyo at xhuang66@bloomberg.net;Serene Cheong in Singapore at scheong20@bloomberg.net;Stephen Stapczynski in Singapore at sstapczynsk1@bloomberg.net;Alfred Cang in Singapore at acang@bloomberg.netTo contact the editors responsible for this story: Ramsey Al-Rikabi at ralrikabi@bloomberg.net, Alexander Kwiatkowski, Simon CaseyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Mitsubishi says Singapore-based oil trader lost $320 million in unauthorized trades
    Reuters

    Mitsubishi says Singapore-based oil trader lost $320 million in unauthorized trades

    TOKYO/SINGAPORE (Reuters) - Mitsubishi Corp , Japan's biggest trading house by revenue, said on Friday a trader at its Singapore-based unit has lost $320 million through unauthorized transactions in crude oil derivatives, and the matter has been reported to the police. The announcement is a blow for the Japanese trading company, which invests in everything from salmon to natural gas and trades many commodities around the world. It is the first loss of its kind in Mitsubishi's history, a company spokesman told Reuters.

  • ETF Database

    Invesco Launches Two Corporate Bond ETFs

    Invesco launched two new ETF entries as a part of their BulletShares suite on Thursday, Sept. 12. The Invesco BulletShares 2027 High Yield Corporate Bond ETF and the Invesco BulletShares 2029 Corporate Bond ETF (BSCT) have now found their way to the NYSE.

  • Moody's

    Veresen Midstream Limited Partnership -- Moody's announces completion of a periodic review of ratings of Veresen Midstream Limited Partnership

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Veresen Midstream Limited Partnership and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • Moody's

    WG Partners Acquisition, LLC -- Moody's revises WG Partners Acquisition, LLC's outlook to positive from negative, affirms B1

    Moody's Investors Service ("Moody's") affirmed WG Partners Acquisition, LLC's (WGP) B1 senior secured bank credit facility rating and revised the outlook to positive from negative. The rating affirmation and outlook change to positive reflects Pacific Gas & Electric Company's (PG&E) proposed plan of reorganization that incorporates PG&E assuming its power purchase agreements (PPA). PG&E's bankruptcy and the risk of PPA rejection in bankruptcy has been the primary risk constraining WGP's credit profile since two of WGP's six portfolio companies, the Three Sisters and the Five Brothers, derive cash flows from PPAs with PG&E that expire in 2020 and 2022, respectively.

  • Moody's

    Mitsubishi Estate Co., Ltd. -- Moody's affirms Mitsubishi Estate's A2 ratings; outlook stable

    Moody's Japan K.K. has affirmed Mitsubishi Estate Co., Ltd.'s (MEC) A2 senior unsecured rating, (P)A2 domestic senior unsecured shelf registration rating, Baa1 subordinate rating, and P-1 short-term commercial paper rating. "Mitsubishi Estate's A2 ratings reflect its leading position in the Japanese real estate industry, supported by prime leasing assets that generate stable cash flow," says Akifumi Fukushi, a Moody's Vice President and Senior Analyst. Moody's expects that MEC's earnings will remain stable over the next few years based on solid demand in the company's core office buildings segment.

  • Moody's

    South Staffordshire Water Plc -- Moody's changes outlook on South Staffs Water to negative, affirms ratings

    Moody's Investors Service ("Moody's") has today changed the outlook to negative from stable on South Staffordshire Water Plc (South Staffs Water), a water-only company operating in the English Midlands and the City of Cambridge. At the same time, the rating agency affirmed the company's Baa2 senior unsecured debt rating. Today's action reflects South Staffs Water's exposure to a likely significant cut in allowed returns from 2020, a material negative revenue adjustment for over-recoveries in the current period as well as challenging cost efficiency targets, as outlined in the industry regulator's draft determination, published on 18 July 2019.

  • Moody's

    DBCT Finance Pty Ltd. -- Moody's upgrades DBCT Finance to Baa3, outlook revised to stable

    Moody's Investors Service ("Moody's") has today upgraded the rating of DBCT Finance Pty Ltd.'s senior secured ratings to Baa3 from Ba1, and revised the outlook to stable from positive. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. DBCT is the financing affiliate of DBCT Management Pty Limited and DBCT Trust, which collectively have economic ownership of the Dalrymple Bay Coal Terminal through a long-term lease, comprising a 50-year initial and 49-year option period.

  • Moody's

    Mitsubishi UFJ Lease & Finance Co., Ltd. -- Moody's assigns (P)A3 on MUL Asset Finance Corporation's Euro Medium Term Note Programme and places the rating under review for for downgrade

    Moody's Japan K.K. has assigned a (P)A3 backed senior unsecured MTN rating to MUL Asset Finance Corporation (MAF)'s USD4 billion Euro Medium Term Note Programme. The rating is under review for downgrade.

  • Moody's

    Mitsubishi UFJ Lease & Finance Co., Ltd. -- Moody's reviews Mitsubishi UFJ Lease & Finance Company's A3 ratings for downgrade

    Moody's Japan K.K. has placed Mitsubishi UFJ Lease & Finance Co., Ltd.'s (MUL) ratings on review for downgrade. At the same time, Moody's has withdrawn the outlook on MUL's senior unsecured debt rating (Foreign) for its own business reasons. Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.

  • Reuters

    Mitsubishi leads funding for off-grid power firm BBOXX's expansion

    Japan's Mitsubishi Corp. was the lead investor in a $50 million funding round aimed at financing off-grid power company BBOXX's expansion in Africa and Asia, the British firm said on Wednesday. Mitsubishi joins a host of top investors, including European power utilities, that are exploring off-grid technology as a way of expanding their exposure to renewables and tapping new pools of customers. "The funding is further evidence of Japanese interest in Africa and in (pay-as-you-go) solar energy globally," BBOXX Chief Executive Mansoor Hamayun said in a statement.

  • Sempra Energy' (SRE) Cameron LNG Train 1 Begins Operations
    Zacks

    Sempra Energy' (SRE) Cameron LNG Train 1 Begins Operations

    Sempra Energy (SRE) owns 50.2% equity interest in Cameron LNG JV, which is likely to generate $400-$450 million annual earnings for the company.

  • Moody's

    Mitsubishi Corporation -- Moody's assigns (P)A2 to Mitsubishi Corp's domestic shelf registration

    Moody's Japan K. K. has assigned a (P)A2 senior unsecured rating to the domestic shelf registration of Mitsubishi Corporation. Mitsubishi's A2 issuer rating incorporates its (1) strong core business franchise with a highly diversified business portfolio, (2) continued strong funding ability, and (3) conservative financial policy. The ratings are also supported by Mitsubishi's strong and stable relationships with its main banks and major customers, and its position as a core member of the Mitsubishi Group.

  • Moody's

    PHM Netherlands Midco B.V. -- Moody's assigns B3 rating to PHM Netherlands Midco B.V. (dba Loparex); stable outlook

    Moody's Investors Service ("Moody's") assigned a B3 corporate family rating and B3-PD probability of default rating to PHM Netherlands Midco B.V., doing business as Loparex. Moody's also assigned a B2 rating to the $50 million five-year revolving facility, a B2 rating to the $390 million seven-year term loan, and a Caa2 rating to the $160 million second lien term loan.

  • Moody's

    LLC ROLF -- Moody's changes ROLF's outlook to developing; affirms B1 rating

    Moody's Investors Service (Moody's) has today changed LLC ROLF's (ROLF) outlook to developing from positive. At the same time, Moody's affirmed the B1 corporate family rating (CFR) and the B1-PD probability of default rating. Today's change of ROLF's outlook to developing reflects the uncertainty regarding the potential direct and indirect impact of the investigation.

  • Moody's

    MC Finance & Consulting Asia Pte. Ltd. -- Moody's announces completion of a periodic review of ratings of Mitsubishi Corporation

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Mitsubishi Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.