Mitsubishi, Mitsui boost 2026 profit estimates on higher energy, metals prices

The signboard of Mitsubishi Corp is pictured at its head office in Tokyo, Japan August 2, 2017. REUTERS/Kim Kyung-Hoon

TOKYO, Nov 4 : Japanese trading houses Mitsubishi Corp and Mitsui & Co on Wednesday boosted their net profit forecasts for the fiscal 2026 year ending next March to record levels as higher energy and metals prices lifted first-half earnings.

• Mitsubishi raised its net profit forecast by 9 per cent to a record 1.2 trillion yen ($7.6 billion) from its May estimate of 1.1 trillion yen. Its April-September net profit rose 74 per cent to 619.7 billion yen

• Mitsubishi also plans to buy back up to 6 per cent of its outstanding shares for up to 1 trillion yen

• The company aims to achieve net profit of at least 1.2 trillion yen in fiscal 2027, even without a contribution from higher commodity prices, CEO Katsuya Nakanishi told reporters

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• Mitsui raised its fiscal 2026 net profit forecast by 14 per cent to 1.05 trillion yen from its May estimate of 920 billion yen

• Mitsui aims to achieve net profit of more than 1.1 trillion yen and return on equity of over 12 per cent in fiscal 2028, CEO Kenichi Hori said

• Mitsui's LNG handling volume, currently 12 million metric tons a year, is expected to increase by 3 million tons by 2030 through higher offtake volumes, Hori said

• "We intend to increase this volume further," Hori said, adding that total volumes, including spot transactions, could reach up to 20 million tons($1 = 157.8800 yen)

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