Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
If you would like to send us an article, contact Margaret Stacey
   


Marubeni Corporation President and CEO, Teruo Asada (Photo: Marubeni Corporation)

COMPANY OF THE WEEK: Marubeni Reported an 11 Percent Rise in Revenue

  (JAPAN, 2/4/2011)

Japan-based trading company, Marubeni Corporation (Public, TYO:8002), has recently published the company's consolidated financial results for the 3Q 2010.

Highlights 
Net income attributable to Marubeni Corporation for the 3rd Quarter of FY2010 amounted to 106.9 billion yen, which is a 36.4 billion yen or 52 percent increase compared with the same period of the previous year.
 
Marubeni Corporation, Net Income

Core earnings increased by 45.5 billion yen or 40 percent to 159.3 billion yen year-on-year, mainly due to profit increase in adjusted operating profit and equity in earnings.

Equity decreased by 13.2 billion yen to 786.5 billion yen, compared with the end of the previous fiscal year due to decline in stock prices and appreciation of yen, despite an accumulation of net income.

Net interest-bearing debt was 1,762.6 billion yen, increased by 56.2 billion yen compared with the end of the previous fiscal year. Net D/E ratio elevated by 0.11 points to 2.24 times.

Marubeni Corporation, Adjusted Operating Profit and Core Earnings

Main Items
1) Total volume of trading transactions: 6,638.6 billion yen
Total volume of trading transactions increased by 984.0 billion yen compared with the same  period of the previous fiscal year, due to higher commodity prices and a gradual recovery of the  economy. The effect of Japanese yen's appreciation is a decrease by 160.0 billion yen.

By segment, increase was recorded mainly in Energy: +482.9 billion yen, Overseas Corporate Subsidiaries & Branches / +229.7 billion yen, Metals & Mineral Resources / +164.5 billion yen, Food / +115.2 billion yen, Chemicals / +104.8 billion yen, Transportation Machinery / +102.6 billion yen.

Marubeni Corporation, Earnings Structure and Business Portfolio

2) Gross trading profit: 374.1 billion yen
This item increased by 12.6 billion yen compared with the same period of the previous fiscal year.

3) Selling, general, and administrative expenses: -270.9 billion yen
Increased by 1.7 billion yen, mainly in personnel expense.

4) Provision for doubtful accounts: -3.4 billion yen
This item improved by 0.4 billion yen compared with the same period of the previous fiscal year.

5) Interest expense, net of interest income: -13.9 billion yen
This item improved by 3.8 billion yen year-on-year, due to lower USD interest rates and JPY interest rates.

Marubeni Corporation, Equity and Net D/E Ratio

6) Dividends: 14.5 billion yen
This item stayed at the same level as the previous year with 0.6 billion yen increase year-on-year.

7) Gain/loss on investment securities : 3.7 billion yen
In spite of improvement in impairment loss on investment securities, the effect of asset sale in overseas power business booked in the previous fiscal year caused the deterioration of this item by 3.8billion yen, compared with the previous year.
・Gain on sales of investment securities
12.1 billion yen ( - 8.8 billion yen year-on-year)
・Impairment loss on investment securities
-8.4 billion yen ( + 5.0 billion yen year-on-year)

Marubeni Corporation, Net Income by Operating Segment

8) Gain on property and equipment: 3.0 billion yen
Increased by 2.5 billion yen year-on-year, due to a gain on sales of property and equipment.
・Gain on sales of property and equipment 5.8 billion yen ( + 2.2 billion yen year-on year)
・Loss on sales / Impairment loss of property and equipment -2.7 billion yen ( + 0.3 billion yen year-on-year)

9) Other-net: -7.3 billion yen
This item deteriorated by 4.4 billion yen year-on-year, mainly in foreign exchange .

10) Equity in earnings of affiliated companies: 55.5 billion yen
This item improved by 30.1 billion yen year-on-year, due to a profit increase in the copper business in Chile from a strong copper price, also due to a profit increase in steel products business.

Marubeni Corporation Total Assets by Operating Segment
 
Outline of Yearly Prospect for FY2010 
Prospect for yearly net income attributable to Marubeni Corp. for FY2010 has been changed to 135.0 billion yen from 125.0 billion yen, in accordance with the stable results up to the 3rd Quarter FY2010.

Yearly dividend forecast for FY2010 is projected to be 12.0 yen per share, based on our dividend policy aiming for consolidated payout ratio around 15 percent. It is subject to the achievement of revised yearly net income prospect of 135.0 billion yen. 5.5 yen per share for interim dividend (already paid) is included in 12.0 yen per share. Thus the year-end payment is projected to be 6.5 yen per share.

About Marubeni Corporation

Marubeni Corporation is a Japan-based trading company that has 12 business segments: Food; Life Style; Paper Pulp; Chemical Product; Energy; Metal Material; Transportation Machines; Power and Infrastructure; Plant, Ship and Industrial Equipment; Development and Construction; Finance; Logistics and Information; and Steel.

Marubeni has a history of more than 150 years and its business models and operations as a general trading company are extremely diverse.

At the present time, the company is conducting business throughout the world together with many partners and customers, by making full use of its network of 118 overseas branches and offices in 71 countries. 

There are approximately 30,000 employees working in Marubeni Group, and last year Marubeni was once again selected as a global Fortune 500 company. 

Source: Marubeni Corporation 

Margaret E.L. Stacey
Editor Companies and Products
editorial@seafood.media
www.seafood.media


Information of the company:
Address: 1-4-2 Otemachi Chiyoda-ku,
City: Tokyo
State/ZIP: (100-8088)
Country: Japan
Phone: +81 3-3282-4782
More about:


Location:

View Larger Map



 Print


Click to know how to advertise in FIS
MORE ARTICLES
AEON Malaysia Praised for the Most Comprehensive Seafood Welfare Policy for any Retailer Globally
Seafood Expo Global/Seafood Processing Global Returns to Barcelona to Bring Together the Global Seafood Industry
Holmes Seafood is Sold to Portuguese Company Brasmar
The ISH Company Raises More Than U$5M in Seed Funding to Innovate Plant-Based Seafood Offerings
Bristol Seafood is B Corp Certified
North Coast Seafoods Relaunches the Popular Frozen Naked Seafood Line
Coast Seafood Acquires Vega Salmon
Thai Union Corporate Venture Fund Invests in French Algae Ingredients Startup
ReelData AI Announces USD 8M Series A Round
Plainsight and MarineSitu Announce Collaboration to Propel a Sustainable Blue Economy Into The Future
Salmon Evolution Q4: Batch #1 Fully harvested with Very Strong Results
Sustainable Aquaculture Pioneer Forever Oceans Completes Environmental Footprint Assessment
ESF Seafood Transforms Shrimp Processing With Industry Leading Renewable Energy Conversion
Heartland Catfish Company Eliminates Phosphate-Based Additive
Global Seafood Alliance Releases Results of First Consumer Campaign
Planet Tracker Provides Greater Transparency into the Seafood Industry with the Launch of its New Database
Michelin-Starred Armani Ristorante Sources ASC Certified Fish from Croatia
The World’s First Cultivated Fish Fat Unveiled at the Big Idea Ventures Demo Day Showcase
Northline Seafoods Announces Major Project Bringing New Innovations to the U.S. Fishing Industry
Austral’s Aussie Karumba Prawns Take Supply Chain Transparency to New Levels
More Articles...

Lenguaje
FEATURED EVENTS
  
TOP STORIES
South Korean seaweed report: 70% global market share, exported to 114 countries … Overwhelming Japan and China
South Korea "70% of the world market, exported to 114 countries, worth 650 million dollars...". This is the report card of Korea's "nori", which is also known as the "semiconductor of the...
Replacing single-use plastic film with algae-based biodegradable edible film
Portugal The most common technique in the world of food packaging is single-use plastic films. With a little help from the EU, the SeaFilm food packaging project aims to create a substitute for single-use plas...
The Norwegian Pelagic Fishing Course in Week 4
Norway Capelin fishing in Iceland. Herring from the north, mackerel and cod from the west. NVG herring: As expected, it was a week with a lower quantity than the two previous weeks. In total, we have reg...
Why is bottom trawling by foreign vessels at Mile 201 illegal?
Argentina Illegal, unreported and unregulated fishing (IUU or IUU fishing) is a practice that generates great concern in states and society, since it threatens the conservation of ocean biodiversity and causes ...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2023 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER