Marubeni reports 8.3% Q1 profit rise on asset sales

Marubeni Corporation's net profit attributable to owners rose 8.3% to JPY 154.4 billion in the quarter ended June 30, driven by gains from selling its North American railcar leasing business and negative goodwill from acquiring an electronic components business.

However, operating profit fell 8.5% to JPY 85.4 billion due to lower gross trading profit and higher expenses. The company maintained its full-year profit forecast of JPY 510.0 billion.