One of the major shareholders in the Jamaica Public Service Company, Marubeni Corporation, is aiming to book a group net profit of at least 250 billion yen by 2015 partly by expanding investment in non-natural resource sectors such as food. Marubeni President, Fumiya Kokubu, said the company will maintain the target even if natural resource prices fall and the economy deteriorates.
Under its medium-term management plan announced this month, Marubeni is targeting a group net profit of 250 billion to 300 billion yen in another two years, compared with a group net profit of 205.7 billion yen in the financial year that ended in March. The company plans to invest 1.1 trillion yen in mergers and acquisitions.
Marubeni Corporation first became a major shareholder of JPS in 2007 when it purchased 80 per cent of the company from US-based Mirant Corporation. Subsequent to that, it shared its majority stake with the Abu Dhabi National Energy Company (TAQA), from 2009 to early 2011. Marubeni and Korea East-West Power Company now each hold 40 per cent of JPS shares, the Government retains 19.9 per cent, while the remaining less than 1 per cent, is held by private shareholders.
All feeds
