Japanese trading house Mitsui reported its first ever annual loss for the year ended Mar. 31 as a result of lower commodity prices and asset impairments. Following a profit warning in March, the diversified conglomerate on Tuesday announced a net loss of 83.4 billion yen (765.7 million), compared with a profit of 389.9 billion yen in the previous year. Key factors behind the loss were impairments in the fourth quarter from Mitsui's metals and energy businesses, including a 40 billion yen write-down at Australia's Browse floating LNG project, which was scrapped by operator Woodside in March (IOD Mar.24'16).
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