The Americas
In addition to strong agricultural material sales and grain exports, Marubeni is enhancing its earnings base in a wide range of sectors across the Americas.
Koichi Mochizuki
Senior Managing Executive Officer, Regional CEO for the Americas
Economic Environment and Initiatives in Fiscal 2008
In 2008 the U.S. economy continued to perform sluggishly from the first half of the year, despite repeated measures to ease monetary policy. In the second half of the year, the financial markets were thrown into crisis by the collapse of Lehman Brothers, with major effects on the real economy, including progressively worsening employment conditions and tightening of credit.
In the U.S., an agricultural materials sales company posted steady performance in fertilizer and herbicides, while grain collection and sales companies expanded their trade networks and enjoyed robust wheat exports, with both company types achieving record high earnings. Moreover, Marubeni extended its business domains, using acquisitions to enter the after-service business for electric power plants and maintenance service business for iron and steel-making plants.
In Central and South America, Marubeni expanded its handling of Venezuelan petroleum products, acquired an additional interest in the Chilean copper mining project, and entered the freight railcar leasing business in Brazil. In addition to these projects, the Company increased its trading of grain from the Americas to the Middle East and Africa.
Upcoming Initiatives
Amid the severe economic conditions of 2009, Marubeni will focus on fostering and strengthening its existing operating companies in key fields such as agriculture-related businesses, and strive to ensure smooth execution of all projects. At the same time, the Company will leverage its unique functions as a trading house to lay a strategy for enhancing its future earnings base.
