Marubeni is a general trading company which has competitive strength in overseas IPP business and grain trading.

The company's net incomes became negative for the paper, pulp and steel products and many other segments dropped their incomes compared with a year earlier, being affected by the worldwide economic downturn.

It can not avoid decreasing both revenue and profit for the full fiscal 2009.

However, JCR considers that the company can maintain a certain level of earnings as a result of the strengthening its business base by "selection and concentration" per its portfolio unit.

The company plans to place more emphasis on financial stability in the face of deteriorating external environment. It aims to reduce its interest-bearing debt by controlling amount of investments.

The consolidated net assets were reduced more than cut-back in the risk assets in the fiscal year ended 31 March 2009. As a result, risk assets exceeded the consolidated net assets.

The balance between the risk assets and the consolidated net assets started to improve beginning in the first quarter of fiscal 2009 thanks to the increasing net assets resulting from changes in stock prices and the ensuring of profit.

With risks from changes in stock prices and fluctuations in currency exchange rates, JCR considers that the strengthening of risk asset management and accumulation of the consolidated net assets will remain issues for the Company to be addressed.

Additionally, it cannot be denied that a loss occurrence risk might increase depending on deterioration in the external environment.

Therefore, JCR will pay attention to progress in investment projects and changes in asset value.

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The estimated cost of the Big Foot oil pipeline, which will be located about 170 miles south of the coast of Louisiana, is approximately $250 million. Combined with the Walker Ridge Gathering System project, the proposed oil pipeline would bring the total Enbridge investment for the projects to $750 million.

The Big Foot oil pipeline will consist of approximately 40 miles of 20-inch diameter pipe at depths of up to 5,900ft, and will have capacity to transport up to 100,000 barrels per day. Big Foot will deliver to a sub-sea connection on existing deepwater pipeline infrastructure.

Patrick Daniel, president and CEO of Enbridge, said: "The Big Foot oil pipeline reinforces Enbridge's presence as the leading pipeline services provider in the deepwater Gulf of Mexico region.

"We are particularly pleased with our expanding relationship with Chevron, one of the major operators in the region, and our growing oil pipeline business in the deepwater region, which has substantial production growth potential."

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The Marubeni/Osaka Gas/APA consortium, first partnering in December 2008 for the joint acquisition of the Energy Infrastructure Investments assets, have been looking for further opportunities to expand their business portfolio in Australia.

As part of this policy, the consortium is happy to announce that it will now be partnering in the Hallett 4 project with AGL, who has one of Australia's largest customer base in gas and electricity retail. This project will be the first renewable energy generation project in Australia for the consortium partners.

Hallett 4 is currently in the initial stages of construction, and at completion will have a wind-generated capacity of 132.3MW consisting of 63 x 2.1MW wind turbines.

It is scheduled to begin commercial operation in June 2011, at which time AGL will continue its participation in the project as the 25-year long-term offtaker, ensuring stable revenue flow to the project.

AGL will continue to operate and maintain the wind farm, as well as retain the rights to all Renewable Energy Certificates (RECs) and electricity output until 2036. Energy Infrastructure Investments (EII) will take an active role in the monitoring of construction and operation of the facility.

The Hallett 4 wind farm is currently under construction on the Hallett Hill range approximately 40km from Burra in South Australia. It will utilize 63 Suzlon S88v3 turbines and is being constructed by Indian wind turbine supplier Suzlon under a fixed-price turnkey contract.

Using a transaction structure similar to AGL's September 2008 sale of the Hallett 2 wind farm, EII has acquired Hallett 4 and will fund all remaining development and construction costs under project finance facilities established as part of the transaction.

EII will own the wind farm, while AGL will buy all of the electricity and RECs produced as well as operate and maintain the facility under long term fixed cost arrangements.

Michael Fraser, AGL's CEO, said: "The structure of this transaction where AGL retains all output, renewable energy certificates and operatorship, is consistent with the company's strategy to maintain its leadership position in renewable energy generation. The transaction demonstrates the solid appetite for quality projects which deliver significant benefits to both parties.

"AGL has a substantial pipeline of projects which include up to 2,600MW of renewable generation and up to 1,600MW of gas generation. Our renewable energy portfolio places AGL in a market leading position to benefit under the expanded Renewable Energy Target."

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