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Top related persons:
Katya Golubkova - 3 Toru Hanai - 2 Kim Coghill - 2 Neom - 1 Meed - 1 — - 1 Japan's Itochu - 1 Keita Ishii - 1
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Tokyo Japan Saudi Arabia Saudi Neom China Osaka prefecture Osaka
Top related orgs:
Thomson - 3 Itochu - 2 REUTERS - 2 Service - 1 Veolia - 1 Business - 1 Mitsui - 1 Mitsubishi - 1

Search resuls for: "Japan's Itochu"


5 mentions found


☆ Neom axed a $1.5B project to make water for the city, report says — another blow to its grand ambition
  + stars: | 2024-05-22 | by ( Tom Porter | ) www.businessinsider.com   time to read: +1 min
Neom canceled a desalination project worth $1.5 billion, according to a report. Enowa, a Neom subsidiary, told Meed it's water requirements had evolved. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA project to build a $1.5 billion water desalination plant in the Saudi Arabian desert city of Neom appears to have been scrapped. A consortium made up of Neom subsidiary Enowa, Japan's Itochu, and France's Veolia had agreed to develop the plant in December 2022.
Persons: Neom, Meed, —, Japan's Itochu Organizations: Service, Veolia, Business Locations: Saudi Arabia, Saudi, Neom
☆ Japan's Itochu raises profit forecast on strong machinery business
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Toru Hanai/File Photo Acquire Licensing RightsNov 6 (Reuters) - Japanese trading house Itochu (8001.T) posted a 14.5% drop in six-month net profit on Monday but raised its full-fiscal year profit forecast on stronger expectations for its machinery business and the weaker yen. Itochu increased its net profit forecast for the year ending in March 2024 by 20 billion yen to 800 billion yen ($5.4 billion) after weaker coal and iron ore prices resulted in its half-year net profit falling to 412.90 billion yen. "We have raised our full-year profit forecast for the machinery segment, backed by strong performance of automobile, construction machinery and North America's power business," President and Chief Operating Officer Keita Ishii told a news conference. The full-year profit forecast for Itochu's machinery business -- its second-biggest profit contributor after the metals and minerals segment and which makes ship and car parts and industrial machinery -- was increased by 10 billion yen to 115 billion yen. The company also said it will buy back up to 1.2% of its shares, worth 75 billion yen.
Persons: Toru Hanai, Keita Ishii, Ishii, Katya Golubkova, Yuka Obayashi, Kim Coghill, Savio D'Souza Organizations: Itochu, REUTERS, Mitsui, Mitsubishi, Sumitomo, Thomson Locations: Tokyo, Japan, China
☆ Japan's Itochu H1 net profit down 14.5% y/y, sets buy back
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: 1 min
The logo of Itochu Corp is seen outside the company's headquarters in Tokyo, Japan, November 7, 2016. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsNov 6 (Reuters) - Japanese trading house Itochu (8001.T) on Monday posted a 14.5% drop in six-month net profit but raised its full-fiscal year profit forecast on stronger non-resource business development expectations and weaker yen. Itochu's net profit to Sept. 30 was 412.90 billion yen ($2.8 billion), down from the same period last year on weaker coal and iron ore prices. It raised its net profit forecast for the year ending in March 2024 by 20 billion yen to 800 billion yen. The company will buy back up to 1.2% of its shares worth 75 billion yen, it added on Monday.
Persons: Toru Hanai, Katya Golubkova, Kim Coghill Organizations: Itochu, REUTERS, Thomson Locations: Tokyo, Japan
☆ Japanese companies team up for battery storage project to fuel clean energy expansion
  + stars: | 2023-06-07 | by ( ) www.reuters.com   time to read: +1 min
June 7 (Reuters) - Japan's Itochu Corp (8001.T) said on Wednesday it has jointly established a power storage company with Osaka Gas Co (9532.T) and Tokyo Century Corp (8439.T), as the country's expansion in renewable energy drives demand for storage capacity. Batteries are central to Japan becoming carbon neutral by 2050, as they are critical for storage of renewable energy to smoothen output fluctuations. The project will have capacity of 23 megawatt hours and output of 11 megawatt, for which Itochu would provide storage batteries and construction, Osaka Gas would trade the power and Tokyo Century would do business management. Japan is targeting over $24 billion in investments both from the public and private sectors to develop domestic battery production capacity of 150 gigawatt hours (GWh) by 2030, including for electric vehicles, and global production by Japanese companies of 600 GWh. Reporting by Katya Golubkova; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
Persons: Itochu, Katya Golubkova, Rashmi Organizations: Itochu Corp, Osaka Gas Co, Tokyo Century Corp, Osaka Gas, Thomson Locations: Osaka prefecture, Japan, Osaka, Tokyo
☆ U.S. LNG producers poised to leapfrog rivals with three new projects
  + stars: | 2023-02-16 | by ( Scott Disavino | Thomson Reuters | Covers The North American Power | ) www.reuters.com   time to read: +4 min
After a dearth of plant approvals last decade, developers have secured dozens of long-term contracts to finance new multibillion-dollar LNG plants. The United States was long an importer of LNG, but natural gas discoveries and production from the shale revolution flipped the country into an LNG exporter in 2016. U.S. LNG exports hit 10.6 billion cubic feet per day (bcfd) in 2022, making the country the second biggest LNG exporter behind Australia. But their production volumes will allow the United States to remain ahead of output from Australia and Qatar. The seven U.S. export plants already in service, including Freeport LNG, can turn about 13.8 billion cubic feet of gas into LNG each day.
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