Mitsui & Co (8031) investor relations material

Executive summary

• Q1 profit attributable to owners reached ¥294.1 billion, up 53.4% year-over-year, with record highs and strong progress against business plan targets.

• Revenue for the three months ended June 30, 2026, rose 31.7% year-over-year to ¥4,347.6 billion.

• Comprehensive income surged 98.7% year-over-year, reflecting robust operational and investment performance.

• Growth was driven by higher prices and volumes in mineral, metal, and energy segments, as well as asset recycling and IPO gains.

• A ¥200 billion share repurchase was announced to enhance capital efficiency and shareholder returns.

Financial highlights

• Gross profit rose to ¥413.7 billion from ¥301.4 billion year-over-year, with an increase of ¥112.3 billion.

• Core Operating Cash Flow (COCF) for Q1 was ¥280.9 billion, up ¥64.6 billion year-over-year.

• Interim and year-end dividends set at ¥70 each, totaling ¥140 per share, up ¥25 from the previous year.

• Earnings per share (basic) rose to ¥103.73 from ¥66.68 year-over-year.

• Net interest-bearing debt increased to ¥4,416.7 billion, with a net debt-to-equity ratio of 0.49x.

Outlook and guidance

• Full-year profit attributable to owners is forecast at ¥920 billion, with COCF projected at ¥1,050 billion; Q1 progress at 32% and 27% respectively.

• Dividend for FY March 2027 is planned at ¥140 per share, with interim and year-end dividends of ¥70 each.

• Shareholder returns as a percentage of COCF target for MTMP2029 updated to over 50%.

• Energy segment expected to contribute more significantly from Q2 onward.

• A new share repurchase program of up to ¥200 billion is planned, with all repurchased shares to be cancelled.