Sojitz Corporation (双日株式会社, Sōjitsu) (TYO: 2768) is a trading corporation (Sogo shosha) based in Tokyo, Japan. It was formed in 2004 by the merger of Nissho Iwai Corporation (日商岩井株式会社) and Nichimen Corporation (ニチメン株式会社). It is highly diversified and operates in many industries, including construction, forestry, plastics, chemicals, mining, petroleum, textiles, and international trade. Sojitz also participates in many joint ventures with foreign companies in Japan. The main trading room of the Tokyo Stock Exchange, where nowadays the trading is done by computers The Stock Exchange occupies a narrow site in Tokyos securities district The Tokyo Stock Exchange (abbreviated TSE) is a stock exchange market located in Tokyo, Japan. ... A corporation is a legal entity (distinct from a natural person) that often has similar rights in law to those of a Civil law systems may refer to corporations as moral persons; they may also go by the name AS (anonymous society) or something similar, depending on language (see below). ... Sogo Shosha Over 8,000 trading companies exist today in Japan, but only a few hundred are engaged in foreign trade. ... The modern skyline of Tokyo is highly decentralized. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... The phrase mergers and acquisitions or M&A refers to the aspect of corporate finance strategy and management dealing with the merging and acquiring of different companies as well as assets. ... A joint venture (often abbreviated JV, and sometimes known by the older term joint adventure) is a strategic alliance between two or more parties to undertake economic activity together. ...
Sojitz Holdings Corp. will chalk up valuation losses of around 16 billion yen ($154 million) resulting from commodity futures transactions by its energy and metals division, the struggling trading house said Wednesday.
Sojitz President Hidetoshi Nishimura indicated the same day that the firm will launch an investigation and penalize those responsible for the possible fraud that led to the huge loss.
Sojitz is expected to post a consolidated net loss of 380 billion yen (US$3.7 billion) for this fiscal year, partly on its withdrawal from unprofitable operations.
Sojitz, created by the mid-2004 merger of Japan's Nissho Iwai Corp. and Nichimen Corp., is one of the world's largest international trading companies, with operations on six continents.
In mid-September, Sojitz landed an infusion of ¥370 million from its lenders.
In late 2004, Sojitz announced a renewed focus on its bearing operations: "We are pursuing global development of our bearing business, a key component of the machine industry.
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