Japan's trading houses raise outlooks on weak yen, non-resource businesses

All five Buffett-backed companies raise forecasts for full-year net income

20231106 Major 5 Japanese Trading companies

Japanese trading houses' focus on stable earnings has caught the eye of major investors like Warren Buffett. (Nikkei montage/Source photos by AP and Reuters)

NATSUMI KAWASAKI, Nikkei staff writer

November 6, 2023 18:31 JST

TOKYO -- Japan's major trading houses have raised their earnings forecasts despite falling resource prices thanks to solid performances from other business segments and the weak yen.

Five trading houses lifted their full-year net profit forecast for the 12 months through this coming March in their April-September earnings announcements, the latest of which came on Monday.