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Mitsubishi Materials (5711) investor relations material
Mitsubishi Materials Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales and operating profit declined year-over-year, mainly due to lower gold production, weaker concentrate purchase terms, and Metals segment weakness, but ordinary profit increased on higher dividend income and equity-method earnings.
Strategic investments in U.S. recycling and resource circulation businesses were made to support medium-term growth, including the acquisition of Elemental USA E-Waste & ITAD, Inc.
The Metalworking Solutions segment benefited from a new subsidiary and price optimization, offsetting declines in Metals and Electronic Materials.
Total assets increased to ¥2,929.2 billion, mainly due to higher inventories and leased gold bullion; liabilities rose from deposited gold bullion and interest-bearing debt.
Business segmentation changes and finalization of business combination accounting were announced, impacting future reporting.
Financial highlights
Net sales for Q1-3 FY26: ¥1,284.48 billion (down 13.4% year-over-year).
Operating profit: ¥27.38 billion (down 15.2% year-over-year).
Ordinary profit: ¥61.16 billion (up 7.6% year-over-year), driven by higher dividends and equity-method earnings.
Profit attributable to owners of parent: ¥36.39 billion (down 26.0% year-over-year), mainly due to absence of prior-year gains and structural reform costs.
Metal prices increased year-over-year: copper +8.1%, gold +45.5%, palladium +22.9%.
Outlook and guidance
Full-year net sales forecast: ¥1,760.0 billion (up ¥170.0 billion vs. previous forecast, down 10.3% year-over-year).
Operating profit forecast: ¥47.0 billion (up ¥32.0 billion vs. previous forecast, up 26.6% year-over-year).
Ordinary profit forecast: ¥76.0 billion (up ¥33.0 billion vs. previous forecast, up 26.2% year-over-year).
Profit attributable to owners of parent forecast: ¥20.0 billion (no change, down 41.3% year-over-year); EPS forecast at ¥153.06.
Annual dividend forecast: ¥100/share (unchanged; interim dividend of ¥50/share paid).
- Ambitious sustainability drive targets global resource circulation, decarbonization, and diversity.5711
Sustainability Presentation23 Jan 2026 - Full-year profit outlook raised despite sharp year-over-year declines in sales and profit.5711
Q2 202611 Nov 2025 - Q1 FY2025 saw a sharp profit decline from currency and market headwinds, but guidance is steady.5711
Q1 20267 Aug 2025 - Profits soared on metals and FX gains, but full-year outlook remains cautious.5711
Q2 202513 Jun 2025 - Profit soared on metals strength and PT. Smelting equity gain; outlook steady.5711
Q1 202513 Jun 2025 - FY2025 profit jumped on metals and FX, but FY2026 faces sharp profit headwinds.5711
Q4 20256 Jun 2025 - Strong sales growth led by metals, but profit outlook lowered on auto sector weakness.5711
Q3 20256 Jun 2025
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