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Marubeni CFO says no plan to sell Gavilon

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Nov 06, 2019 at 10:17 AM CST
* Marubeni Chief Financial Officer Nobuhiro Yabe said on Tuesday that the Japanese trading house has no plan to sell its U.S. agri-business unit Gavilon. * Marubeni’s agri-business profit in the April-September period fell from a year earlier due to a loss of 3.9 billion yen ($35.85 million) related to inappropriate recognition of Gavilon’s loss from its trade in Italy and Spain in the last business year, Yabe told an earnings news conference.

Nov 06, 2019 at 10:17 AM CST

* Marubeni Chief Financial Officer Nobuhiro Yabe said on Tuesday that the Japanese trading house has no plan to sell its U.S. agri-business unit Gavilon. * Marubeni’s agri-business profit in the April-September period fell from a year earlier due to a loss of 3.9 billion yen ($35.85 million) related to inappropriate recognition of Gavilon’s loss from its trade in Italy and Spain in the last business year, Yabe told an earnings news conference.