Food businesses offset commodity price hits at Japanese trading houses
Răzvan Botea
TOKYO :Higher profits at the diversified food businesses run by Japanese trading houses offset weaker performances at their commodities units, disclosures by Mitsui, Marubeni and Itochu showed on Friday. This diversification from the traditional commodity trading businesses at Itochu, Marubeni, Mitsui is part of what drew Warren Buffett's Berkshire Hathaway to take minority stakes in the companies. Profits at Mitsui for the three months ended on June 30 fell 31 per cent from a year earlier
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