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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.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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