November 2, 2018 / 4:14 AM / a year ago

Japan trading house Mitsubishi Corp lifts full-year profit f'cast

TOKYO, Nov 2 (Reuters) - Japan’s biggest trading house Mitsubishi Corp on Friday reported a 22 percent rise in its April-September net profit due to higher coking coal output and stronger commodity prices, and lifted its full-year outlook to a record level.

Mitsubishi’s net profit grew to a 309.3 billion yen ($3.01 billion) for the six months to Sept. 30 from 254 billion yen a year ago.

Mitsubishi raised its net profit prediction for the year to March 31 to a record 640 billion yen from its earlier guidance of 600 billion yen, below the 664 billion yen mean forecast in a poll of 9 analysts, according to Refinitiv data.

Japanese trading companies have benefited from higher prices for commodities such as oil and coal, while their results also reflect healthy earnings in non-resource segments which they have strengthened since the last commodities down-cycle. ($1 = 112.7000 yen) (Reporting by Yuka Obayashi)

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