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Article: BRIEFING - ASIA RETAIL - APRIL 20, 2009.
- Article from:
- AsiaPulse News
- Article date:
- April 20, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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An executive briefing on retail for April 20, 2009, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.
MARUBENI'S NET PROFIT DOWN 25%, FAR SHY OF 2% PROJECTED GAIN
TOKYO - Marubeni Corp.'s (TSE:8002) group net profit fell 25 per cent on the year to 110 billion yen (US$1.1 billion) for the year ended March 31, partly because of losses stemming from its stake in struggling retailer Daiei Inc. (TSE:8263), undershooting the forecast 2 per cent rise to 150 billion yen.
Daiei suffered a 23.6 billion yen group net loss for the year ended Feb. 28 on ...