UPDATE 1-Mitsui targets 440 bln yen profit in year through March 2020 [Reuters]
MITSUI & CO LTD ADR (MITSY)
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Source: Reuters
(Updates with earnings details in paragraphs 4 to 7) TOKYO May 9 Japanese trading house Mitsui & CoLtd said on Tuesday it is targeting an annual profit of440 billion yen ($3.9 billion) in the year through March 2020. The company also said it expects to invest between 1.7trillion yen and 1.9 trillion yen over the next three years aspart of a new mid-term business plan. Mitsui announced the plans at an earnings press conference,where it said it expects a 4.5 percent rise in net profit forthe year through March 2018, due to stronger earnings in itsenergy and metals segments. The company is forecasting profit of 320 billion yen ($2.8billion) in the year to March 31, 2018, in line with a meanestimate of 319.46 billion yen, according to 11 analysts polledby Thomson Reuters I/B/E/S. For the year ended in March, Mitsui returned to the black,with a profit of 306.1 billion yen, against a loss of 83.41billion yen a year earlier. The result was roughly in line wi
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