Mitsui & Co. said Wednesday its consolidated net profit in the business first half fell 2.7 percent from a year earlier to 23.42 billion yen on slumping sales of petroleum, gases and chemicals.
The trading house said group pretax profit in the April-September period plunged 14.6 percent to 42.76 billion yen on revenues of 6.34 trillion yen, down 4.8 percent.
Sales of machinery and foodstuffs were strong in the first half but were more than offset by declines in sales of petroleum and gases, the mainstay of the company, and chemicals.
Sales of exports and imports in the half marked 16.5 percent and 4.1 percent year-on-year increases to 1.04 trillion yen and 1.33 trillion yen, respectively.
However, trade among countries outside Japan dipped 20.5 percent from a year earlier to 1.60 trillion yen. Domestic trade in the six months also dropped 4.4 percent to 2.37 trillion yen.
Mitsui plans to maintain a midterm dividend payment of 4 yen per share.
For the full year to March, the company projects a group net profit of 55 billion yen, up from 51.59 billion yen in the previous year, on sales of 13 trillion yen, compared with 13.05 trillion yen.