M'bishi says on course to hit 07/08 profit target

TOKYO, Jan 31 (Reuters) - Mitsubishi Corp (8058.T), Japan's top trading company, is on course to hit its 2007/08 profit target, its chief financial officer Ichiro Mizuno said on Thursday.

Surging oil and iron ore prices and firm commodity markets are benefiting Japan's top trading houses, all of which invest heavily in overseas oilfields and mines. Related operations account for up to 70 percent of their profit. (Reporting by Yuko Inoue)