Marubeni ups profit forecast on solar asset sales

Healthy outlook: A sign of the Japanese general trading company is seen at its head office in Tokyo. Stronger prices for copper and coal are also expected to boost profits. – Reuters

TOKYO: Japanese trading house Marubeni Corp has raised its profit and dividend forecasts for the current financial year due to gains from the sale of solar power assets and firmer metals prices.

The revised guidance of 140 billion yen (US$1.24bil) in net profit marked an 8% increase from an earlier forecast and was in line with a consensus estimate of 144 billion yen from nine analysts polled by Thomson Reuters I/B/E/S.