Q3 2024 Sojitz Corp Earnings Net Conference Transcript
Good afternoon. This is Makoto Shibuya, CFO of Sojitz Corporation. Thank you very much for joining us for the earnings briefing. Please refer to the Q3 FY 2023 presentation materials posted on our website, specifically the first part titled financial results for the third quarter and full year forecast.
Let me begin on slide 5, which shows a summary of profit or loss. Consolidated profit for the period came to JPY75.2 billion. This is down 30% year-on-year, but well on track with regard to the initial full year forecast of JPY95 billion. Now that we have upward revised the full year forecast from JPY95 billion to JPY100 billion Q3 results that up 75%.
The main reasons for the year-on-year decline in profit are the impact of year-on-year decline in coal prices and a slowdown due to sluggish demand for chemical product in general, the business environment has been characterized by uncertainty due to heightened geopolitical risks, persistent inflation, although slowing in developed countries and continued monetary tightening by central banks there and slow
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