Trading house Mitsubishi Corp. said Tuesday its profit for the last financial year jumped 27 percent to record levels due to stronger prices for coking coal and other commodities, while forecasting another profit rise this year.
Japanese trading houses have been enjoying their best profits in several years, driven by a rally in commodities from coking coal and base metals to oil and natural gas, as well as stronger earnings in non-resource businesses.
Mitsubishi's results follow record earnings reported last week by peer Itochu Corp.
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