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© (c) Copyright Thomson Reuters 2015.Japanese trading houses to cut investments, step up asset sales
By Yuka Obayashi TOKYO©2024 GPlusMedia Inc.
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jerseyboy
Exactly. Sounds like they bought at the top of the markets, and are selling at the bottom. Never a good strategy.
Guy_Jean_Dailleult
Would be interesting to know what percent of the writedowns are on assets in Australia. Lots of money has been lost there by lots of companies due to over-investment and too rosy price projections.
some14some
Good, focus on domestic market.
elkarlo
Guy, good question. A lot of the coal and metal mines are being written off in Australia. I would expect that with the low prices for many commodities, that Oz mines are getting squeezed as well. Like the American oil wells, Oz miners production costs are at or under commodity prices