31 January 1994 00:00 [Source: ICB]
JAPAN'S MITSUI & CO expects total business transactions for the year to March 1994 will drop 12.8% to Yen15 trillion ($134.9bn) from Yen17.2 trillion. Mitsui forecasts that net income will fall 8.6% to Yen16bn from Yen 17.5bn a year ago.
In the first six months, Mitsui posted total transactions up 7.4% to Yen8.9 trillion from Yen8.3 trillion due mainly to thriving activity in non-ferrous metals. Operating income fell 54.5% to Yen26bn from Yen56bn while net income decreased 17.5% to Yen8.3bn from Yen10bn a year earlier. The figure included net losses of associated companies totalling Yen4bn.
Exports accounted for Yen1 trillion, down 13.2% year-on-year mainly due to reduced chemicals and machinery transactions while imports, which totalled Yen1.1 trillion, were down 10.1% because of recession-induced cuts in orders for energy. Offshore transactions rose 17.4% in the first six months to Yen2.7 trillion. Domestic transactions were up 13.9% to Yen4 trillion.
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