Mitsubishi Corp. said Thursday its group net profit in the October-December period plunged 45.3 percent from a year earlier to 10.43 billion yen on operating revenue of 3.37 trillion yen, down 4.5 percent.
Mitsubishi said setting aside 9.8 billion yen in loan-loss reserves on loans to subsidiaries and booking an evaluation loss on real estate it plans to sell were partly to blame for the slide.
The trading house said consolidated operating profit -- the profit from its core businesses -- shrank 57.9 percent to 13.47 billion yen in the reporting quarter.