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Article: 1-OFF GAIN TO HELP PUSH UP JAPAN CO SOJITZ'S FY09 NET PROFIT 32%.
- Article from:
- AsiaPulse News
- Article date:
- October 28, 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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TOKYO, Oct 28 Asia Pulse - Japan-based holding company Sojitz Corp. (TSE:2768) is on track for a 32 per cent surge in consolidated net profit to slightly more than 25 billion yen (US$272.55 million) for the year through March 2010, thanks largely to the sale of shareholdings in an Australian mining company.
The trading house's earlier projection called for a five per cent rise in net profit to 20 billion yen.
Sojitz booked an extraordinary profit of about 20 billion yen in the April-September half from the sale of shares in Coal & Allied Industries Ltd. (ASX:CNA, an affiliate of Anglo-Australian mining giant Rio Tinto (ASX:RIO).
The firm's ...