Mitsubishi to Shut Trader

摘要

Japan's Mitsubishi Corp. is to shutter London- based energy derivatives subsidiary Petro- Diamond Risk Management (PDRM), bringing its activities in the oil and products derivatives hedging and trading business to a halt. "The credit crunch last year caused Mitsubishi to redefine its strategic business domain and review the risk and return balance of the PDRM business," Mitsubishi spokesman Shunsuke Nanami said. "As a result, Mitsubishi Corporation has made the decision to exit from PDRM."