Mitsui Mining & Smelting (5706) Q1 2027 earnings summary

Executive summary

• Q1 FY2026 net sales rose 19.3% year-over-year to ¥201.6B, with operating income up 84.1% to ¥21.0B and ordinary income up 134.3% to ¥23.5B.

• Net income attributable to owners of parent rebounded to ¥16.8B from a ¥6.0B loss in the prior year.

• Comprehensive income reached ¥18.0B, compared to a loss of ¥7.3B a year earlier.

• Growth was driven by higher Engineered Materials sales, favorable currency effects, and improved Metals inventory factors.

Financial highlights

• Gross profit increased to ¥42.1B, with gross profit margin improving to 20.9% in Q1 FY2026.

• Basic earnings per share for the quarter was ¥294.08, compared to a loss per share of ¥104.41 in the prior year.

• Total assets increased to ¥719.3B as of June 30, 2026, with an equity-to-asset ratio of 58.7%.

• Full-year FY2026 sales forecast raised to ¥850.0B, operating income to ¥94.0B, and net income to ¥80.0B.

Outlook and guidance

• FY2026 full-year guidance was revised upward, reflecting strong Engineered Materials sales and improved Metals outlook.

• Operating income for FY2026 is expected to increase by ¥3.0B compared to the previous forecast.

• Basic EPS forecast is ¥139.83 post 10-for-1 stock split; without the split, EPS would be ¥1,398.33.

• Dividend per share forecast for FY2026 is ¥28 post-split, with an interim dividend of ¥140 pre-split.