Marubeni Q1 profit surges 8.3% on asset sales

Marubeni Corporation reported Q1 net profit rose 8.3% year-on-year to 154.4 billion yen, primarily driven by gains from selling its North American railcar leasing business and acquiring an electronic components operation.

Revenue increased 5.5% to 2.16 trillion yen, while operating profit fell 8.5% to 85.4 billion yen. Total assets decreased by 198.6 billion yen to 9.0 trillion yen due to yen appreciation and inventory reduction.

The results represent 30.3% of the company's full-year profit forecast.