The trading house beat estimates with ¥294 billion net income for April-June 2026 and kept its ¥920 billion full-year outlook, while commodity prices and a weaker yen lifted earnings.
Mitsui & Co. reported record first-quarter profit for the April-June 2026 period, as higher commodity prices, especially iron ore, and a weaker yen boosted earnings across its resources-heavy portfolio. Net profit rose 53% from a year earlier to ¥294 billion, above the QUICK Consensus estimate of ¥234.6 billion, while operating revenue also increased sharply year-on-year. The metals and mineral resources business led the gain, and the energy business continued to deliver high profit levels. Mitsui left its full-year consolidated net profit forecast unchanged at ¥920 billion for the year ending March 2027, implying 10% growth from the previous fiscal year, but that outlook remains below the average estimate of ¥974.9 billion from 16 analysts compiled by Reuters. The company said the April-June quarter represented 32% of its full-year target. Separately, Mitsui announced a share buyback of up to ¥200 billion, or 60 million shares, equal to 2.11% of shares outstanding excluding treasury stock, with purchases on the Tokyo Stock Exchange from Aug. 5 through Jan. 29, 2027, followed by retirement of the repurchased shares on Feb. 5, 2027.