Japan's big trading houses expect record profits but utilities forecast pain as Iran war weighs
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TOKYO, May 1 : Some big Japanese trading houses forecast on Friday record annual profits as the U.S.-Israeli war on Iran keeps commodity prices high, while Japanese utilities warned of weaker earnings as fuel procurement costs spike. Japan, one of the world's most vulnerable countries to energy import disruptions, has intensified diplomatic efforts and pledged billions of yen in support - from subsidies to currency intervention - to cushion the economic shock from the war and the closure of the
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