Japan's Jera upgrades profit guidance
Japanese joint venture Jera on January 30 said it now expects a net income of 100bn yen ($769mn) for the year ending March 31, versus the previous forecast of a loss of 200bn yen, due to the improvement of the LNG procurement environment.
Jera, a joint venture between Tokyo Electric Power and Chubu Electric Power, in October last year said that it would book a 110bn yen loss related to the impact of the fire at the Freeport LNG terminal in the US.
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In the nine months to December 31, 2022 Jera reported a loss of 97.2bn compared with a profit of 55.7bn yen in the corresponding quarter of the previous year.