mitsubishi corporation. mitsubishi reported a net loss of $1.37 billion after booking losses in its copper and lng businesses. it saw a slump in its copper and coal businesses resulting in a $765 million net loss. it's the first time either firm has been in the red. >> translator: we urgently need to strike the right balance between our resource-related and other businesses so we can avoid net losses, even if resource prices plunge lower than we expect them to. >>> marubeni reported a net profit of $570 million, more than 40% lower than the previous business year, due to losses in oil and gas fuel development. itochu's $2.2 billion in profit put it at the top of trading companies. >>> china has released the consumer price index and the producer price index. officials at the bureau of statistics say the figure for april was at 2.3% for the year earlier. the numbers remain below the government target of about 3%. producer price index down 3.4%. it was better than the previous month and has also beaten market e

mitsubishi motors has admitted it has a problem with corporate governance and oversight for these kindsf issues. a huge scandal that almost ended the company having to do with safety faults that were covered up and son of the company's truck axles. that require them to be bailed out. it was very serious. they said they put in procedures to prevent that, but it didn't. the question is, what else has not been prevented? what other possible scandals could emerge once investigators get in and look at what exact process are they using for quality control, for safety checks, for meeting all of the regulatory requirements? francine: thank you so much for the update. in tokyo with one of our biggest corporate stories of the day. we will be speaking to carlos ghosn on bloomberg later this morning. up next, with exactly six weeks until the u.k. decides whether to remain in the eu, central bank governors mark carney gives his assessment of the country's economic health. you look ahead to the boe's super thursday. ♪ the u.k. so, chancellor has once again set how his case for britain remaining withi

corporate earnings. some of the household names that we're very familiar with, like sony and mitsubishi. japan, hthis is a big problm because the yen is rising at a time when economic data gets worse and worse, and everybody is playing a bank of chicken. the bank of japan has clearly passed the baton over to prime minister abe. we have the g7 meeting later this month. they're hoping that abe will unleash new fiscal stimulus. i think this is going to mean significant concerns for japanese corporations and the possibility of further dollar yen weakness or strength. a lot of japanese companies become complacent when it rose back from 107 to 112. but now the velocity is going to force them to rethink their lengths. so we could see dollaryen drop to 105 and beyond. and we see complete impotence from the central bank and most likely from prime minister abe as well. >> is there another driver with this move? is it domestic investors getting the fear of whatever's the fear of the day and deciding to pull their investments abroad back into japan? it's rather confusing as you say, we're not seeing

mitsubishi. takeda is back in the news again. it just seems like there are so many things, so many moving parts. you know, corporate governance looks like it is going the right way. the activists have been involved. they're pushing things through. but there is still some of the legacy issues that seem to just not be able to be pulled out of the market. that is a political thing. predominantly fed action, where do you think, fourth quarter? >> i think june is off the cart. you already have some people talking about it but the numbers don't suggest it. september is the really the last chance but then you get the election so i don't really -- look. we've been saying all along we didn't think they'd do more than one or two max but i think that the market just, the economy is not there right now and i don't see the summer heating up. you've got other issues going on right now dragging the indexes, apple has been a big problem in the u.s. for the last week or two. people forget how big a wait apple is so once they start to get pulled down you get the sentiment drain it's hard for the fed to raise into negative sentiment.

management expertise, and corporate governance experience necessary to deliver sustainable and profitable growth. we're at the beginning of a new journey. i am confident that mitsubishi our report, will be able to and take newrust business opportunities. for nissan, this alliance will extend our scale. we will deliver reporting, direct synergies. as i said at the outset, it is a potential win-win transaction. we have the track record to make it work, and to deliver the expected results. i will now invite comments about this a deal, then we would be both happy to take questions. >> ladies and gentlemen, thank you very much to be with us on this occasion. guy: he was talking with the acquisition he announced this morning, a 34% stake taken in mitsubishi motors. scenario.t a win-win dustin crawford, manager and holder of -- agree with that? to the i haven't gone numbers it, it is hard to say. i do think, as i said earlier, it is about scaling up. they can do that, and took them a long time with the nissan but they finally started to do that. if they can do that again with mitsubishi, i think it could indeed -- guy: they're already working quite closely with them. exactl