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Mitsui & Co (8031) investor relations material

Mitsui & Co Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary6 Nov, 2025

Executive summary

  • Achieved 55% progress toward full-year COCF and profit targets in H1 FY March 2026, prompting upward revisions to full-year forecasts.

  • Profit attributable to owners rose 2.9% to ¥423.7 billion, with solid base profit growth from strategic and middle game initiatives.

  • Announced a ¥200 billion share repurchase to be completed by March 2026, with all repurchased shares to be cancelled.

  • Dividend per share for FY March 2026 set at ¥115, up ¥15 year-over-year, following a 2-for-1 share split effective July 1, 2024.

  • Comprehensive income surged 165.8% to ¥633.7 billion, driven by gains in financial assets and currency translation.

Financial highlights

  • H1 COCF was ¥448.5 billion, down ¥89.6 billion year-over-year, mainly due to timing and absence of large LNG dividends.

  • H1 profit was ¥423.7 billion, up ¥11.9 billion year-over-year, with strong Energy and Chemicals contributions.

  • Gross profit for H1 was ¥618.7 billion, up ¥6.3 billion year-over-year.

  • Net interest-bearing debt at ¥3,340.9 billion; net DER at 0.42x; shareholder equity at ¥8.0 trillion.

  • Cash flows from operating activities were ¥428.7 billion, with free cash flow at ¥187.6 billion.

Outlook and guidance

  • Full-year COCF forecast revised up to ¥900.0 billion and profit to ¥820.0 billion, with EPS expected at ¥285.24.

  • Dividend per share set at ¥115, and a ¥200 billion share repurchase program to be completed by March 2026.

  • Shareholder returns ratio expected to exceed 54% of COCF during the MTMP.

  • Key assumptions include a USD/JPY rate of 145.54 and a consolidated oil price of $78/bbl.

  • Management maintains focus on risk management amid geopolitical and financial uncertainties.

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Frequently asked questions

Mitsui & Co., Ltd. is a major Japanese trading and investment company with diversified global business operations across sectors such as energy, machinery, chemicals, food, and logistics. The company engages in trading, project development, and strategic investments, leveraging its extensive network and expertise to support various industries, including infrastructure, transportation, and retail. Mitsui is actively involved in advancing sustainable practices and developing new technologies, including renewable energy initiatives and digital transformation projects. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.

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