Mitsui & Co., Mitsubishi Corp. and Nippon Yusen K.K. will jointly take a one-third stake in a U.S. liquefied natural gas export facility to be built for as much as $10 billion as Japan seeks to tap cheaper shale gas following the Fukushima nuclear disaster.
The last time Masao Namiki bought machinery for his company, Emperor Hirohito had just died, Japanese investors took the Rockefeller Center as a trophy, and a new central bank chief was about to prick the bubble economy. It was 1989.
Record delays for vessels loading corn and soybeans in Brazil, the biggest exporter, are failing to diminish enough of the global capacity glut in shipping to return Excel Maritime Carriers Ltd. and other owners to profit.
Nippon Yusen K.K., Japan’s largest shipping line by sales, said it may beat the annual profit forecast at its container-carrying unit as rebounding demand allows the introduction of peak-season surcharges.