Raising Mitsui’s FVE to JPY 1,100 on Near-term Strength in Material Prices, Long-term Outlook Intact
We are transferring coverage of Mitsui & Co with no-moat and stable moat trend ratings. Mitsui’s first nine-month’s net profit of JPY 230 billion for fiscal year-ending March 2017 beat our expectation and was up 71% year over year. In particular, third-quarter earnings of JPY 108 billion was a significant improvement from JPY 4 billion a year ago. The outperformance was mainly due to the recovery in iron ore and coal prices, and reversal of losses from the Metals, Machinery and Infrastructur...Mitsui & Co. is a general trading company engaged in a range of global business activities including worldwide trading of various commodities, arranging financing for customers and suppliers in connection with Co.'s trading activities, organizing and coordinating industrial projects, participating in financing and investing arrangements, assisting in the procurement of raw materials and equipment, providing new technologies and processes for manufacturing, and coordinating transportation and marketing of finished goods. Americas, Europe, the Middle East and Africa, and Asia Pacific trade in various commodities and conduct related business led by overseas trading subsidiaries in each region.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.