INTERVIEW: Sojitz Chief Foresees Slowdown in Global Growth

Economy

Tokyo, Jan. 5 (Jiji Press)--Masayoshi Fujimoto, president of major Japanese trader Sojitz Corp. <2768>, has predicted that the growth of the world economy will "slow somewhat" in 2019, citing signs of deceleration in the Chinese economy.

The company's earnings in the business year to March 2020 could possibly fall slightly, Fujimoto said in an interview.

On the Chinese economy, Fujimoto said, "Trading in chemical substances used to make wrapping materials is decreasing," cautioning that consumption in the country may be falling.

Sojitz, which has launched hospital operations in Turkey, is considering starting the business also in Southeast Asia, he said, stressing that demand for medical services is likely to grow worldwide.

Meanwhile, Fujimoto said that Sojitz is mulling selling its stake in an Indonesian project to produce coal for fuel. The company will scale down a coal project in Australia in the future, he added.

[Copyright The Jiji Press, Ltd.]

Jiji Press