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Marubeni Q1 ags profit fall on weaker ethanol demand for Gavilon

Aug 04, 2020 at 04:02 PM CST

Marubeni reported weaker financial results from its agricultural business during the first quarter of its fiscal year because of weaker profits from subsidiary Gavilon. Total revenue generated by the Japan-headquartered conglomerate’s agricultural business - the biggest segment by revenue size - totalled JPY794 billion ($7.07 billion) for the three months to the end of June, down more than 7% on the same quarter of 2019, according to Marubeni’s financial report published Tuesday.