Japan's Mitsui & Co is set to post its first annual loss since being established in 1947 after a slide in energy and metal prices forced it book 260 billion yen ($2.3 billion) in writedowns, it said on Wednesday.
Like major international oil and mining companies, Japanese trading firms have been caught flat-footed by the rout in commodities brought about by softening demand in top consumer China, where economic growth has slowed.
The Tokyo-based company said it expected a net loss of 70 billion yen for the financial year ending on March 31, having earlier forecast a profit of 190 billion yen, following hefty one-off losses in its copper and other resource assets.
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