Mitsui & . Stock Earnings Reports

Mitsui & Co. reported Q1 FY Mar 2026 results with core operating cash flow (COCF) up slightly YoY to JPY216.3 billion and profit down JPY84.5 billion YoY to JPY191.6 billion, primarily because Q1 of the prior year included significant asset sale gains that did not recur. Overall progress vs. the medium-term management plan (MTMP) is roughly 25% and described as on track, with seasonality noted across segments. COCF showed broad-based strength; segment profit performance varied—chemicals, LNG-related businesses, innovation & corporate development and some food businesses contributed to base profit increases, while mineral & metal resources and machinery & infrastructure were held back by lower commodity prices and the absence of prior-year asset sale gains. Key cash inflows totaled JPY270 billion (COCF JPY216bn; asset recycling JPY54bn) and investments/loans were JPY208 billion, including making ITC Antwerp a wholly owned subsidiary and starting investments in low‑carbon ammonia (Blue Point) and the Ruwais LNG project. Net interest‑bearing debt rose to JPY3.4 trillion and net D/E remained conservative at 0.45x; shareholder equity increased to JPY7.6 trillion. Management reiterated steady execution of growth investments and asset recycling under the MTMP, no change to shareholder returns policy (will consider enhancements balanced against growth investments), and signaled that energy and innovation segments should contribute more meaningfully from Q2 onward. Management described the MTMP targets as a stretch but attainable and will continue to monitor macro/headline risks (e.g., tariffs, FX, China demand) before adjusting capital recycling or one‑time gains into the plan.