Mitsubishi Books $3.8 Billion Impairment, Expects Loss

  • Net loss of 150 billion yen expected for current fiscal year
  • Mitsubishi had forecast 300 billion yen profit in February

Mitsubishi Corp., Japan’s largest trading house, expects to book an impairment charge of 430 billion yen ($3.8 billion) primarily on its metals and energy businesses to reflect the plunge in commodity prices, leading to a first-ever annual loss for the company on a group basis.

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