TOKYO, Aug 1 (Reuters) - Japanese trading house Mitsubishi (8058.T) , opens new tab posted a 12% year-on-year increase in first-quarter net profit to 354.4 billion yen ($2.37 billion) on Thursday thanks to asset sales and weaker yen, beating estimates.

Mitsubishi had been expected to post a net profit of 290.8 billion yen, according to a LSEG poll of analysts, beating the forecast thanks to the sale of two metallurgical coal mines and depreciation of the yen.

($1 = 149.8400 yen)

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https://www.reuters.com/markets/asia/japans-mitsubishi-q1-net-profit-up-12-yy-asset-sales-weaker-yen-2024-08-01/