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Last $19.12 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:10 PM 08/14/15 All times are local (Market data is delayed by at least 15 minutes).

mitsubishi corp (MSBHF) Key Developments

Mitsubishi Corp. to Form Alliance with Olam International Ltd

Mitsubishi Corp. announced that it will form a capital and business alliance with Olam International Ltd. Through the tie-up, the Japanese trading house aims to strengthen its food business in Asia and Africa. Mitsubishi plans to beef up its nonresources operations as it struggles with falling revenue from the resources sector due to lower crude oil and iron ore prices. Mitsubishi will spend about SGD 1.53 billion, or about CNY 130 billion, for a 20% stake in Olam to make the Singaporean company an affiliate under the equity method. Mitsubishi and Olam will work together on the procurement of raw materials for confectioneries. They are also considering establishing a joint venture to handle coffee and other commodities in Japan.

Olan To Reportedly Issue New Shares ToO Mitsubishi

Mitsubishi Corporation (TSE:8058) intends to acquire at least 10% stake in Olam International Limited (SGX:O32). One of the sources said Mitsubishi had done extensive due diligence and had also looked at other strategic investments before choosing Olam. The people declined to be identified as discussions were private. Olam will sell new shares to Mitsubishi under the deal and Temasek's stake will be diluted. Olam's founding family will also cut its stake in the company, the source said.

Indian Farmers Fertiliser Cooperative Limited Forms Joint Venture with Mitsubishi Corporation

Indian Farmers Fertiliser Cooperative Limited has launched a joint venture with Mitsubishi Corporation for manufacturing agrochemicals in India. IFFCO holds 51% stake and the remaining stake is held by Mitsubishi in the joint venture IFFCO-MC Crop Science Private Ltd.

Mitsubishi Reportedly To Buy Stake In Olam International

Mitsubishi Corporation (TSE:8058) is looking to buy a stake in Olam International Limited (SGX:O32) in a deal valued at $500 million, people familiar with the process said. Mitsubishi is planning to buy at least 10% stake of Olam. Temasek and its partners will continue to hold a majority stake in the company, the people said.

Mitsubishi Corporation Announces Consolidated Earnings Results for the First Quarter Ended June 30, 2015; Provides Earnings Guidance for the Second Quarter and Fiscal Year Ending March 31, 2016; Provides Dividend Guidance for the Second Quarter of Fiscal 2016 and for the Fiscal Year Ending March 31, 2016

Mitsubishi Corporation announced consolidated earnings results for the first quarter ended June 30, 2015. For the quarter, the company reported revenue of ¥1,820,041 million, income before income taxes of ¥101,197 million and net income attributable to owners of the Parent of ¥74,954 million or ¥46.20 per diluted share compared to revenue of ¥1,894,465 million, income before income taxes of ¥147,247 million and net income attributable to owners of the Parent of ¥110,057 million or ¥66.81 per diluted share reported in the same period last year. Net cash used in operating activities was ¥68,629 million against net cash provided by operating activities of ¥2,936 million reported last year. Expenditures for property and equipment were ¥64,708 million against ¥85,827 million reported last year. For the second quarter of fiscal 2016, the company expects to pay dividend of ¥28.00 per share compared to ¥40.00 per share declared last year. For the fiscal year ending March 31, 2016, the company expects to pay dividend of ¥28.00 per share compared to ¥30.00 per share declared last year. For the fiscal year ending March 31, 2016, the company expects net income attributable to owners of the Parent of ¥360,000 million or ¥226.07 per share.

 

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