MITSUI-SOKO HOLDINGS Co., Ltd. revised earnings guidance for the first-half 2023. For the period, the company expects operating revenue is now at JPY133.0 billion, down JPY7.0 billion from the previous forecast. Operating income is forecast to increase by JPY1.5 billion to JPY11.5 billion.

Although unit prices for ocean and air freight rates fell more than expected, resulting in lower revenues, the company has revised its operating income for the first half of the fiscal year upward due to improved profit margins resulting from efforts to control procurement costs in the face of falling freight rates. The upward revision for the first half of the fiscal year is also reflected in the full-year forecast, with full-year operating income revised upward to JPY21.5 billion.