Mitsui & Co., Ltd. (TSE: 8031), the Otemachi-based sogo shosha led by President and CEO Kenichi Hori, reported consolidated first-quarter results for the three months to June 30, 2026 under IFRS. Revenue rose 31.7% to ¥4,347.6 billion, profit before tax climbed 54.6% to ¥362.2 billion, and profit attributable to owners of the parent jumped 53.4% to ¥294.1 billion from ¥191.6 billion a year earlier. Basic earnings per share came in at ¥103.73, up from ¥66.68 (diluted ¥103.65), and total comprehensive income nearly doubled to ¥389.6 billion, up 98.7%.
Gross profit expansion plus a CIM Group revaluation
Gross profit widened by ¥112.3 billion to ¥413.7 billion, driven by Energy, Chemicals and Innovation & Corporate Development. Below that line, gains on securities swung from ¥3.7 billion to ¥87.0 billion, almost entirely a fair-value gain on Mitsui's residual stake in CIM Group, a U.S. real-estate owner-operator. The same transaction cut the other way further down the statement: a call-option valuation loss pushed other income and expenses to -¥30.8 billion from +¥5.5 billion, a ¥36.3 billion swing. Share of profit of equity-method investees added ¥18.3 billion to reach ¥139.2 billion, led by metals and minerals, while selling, general and administrative expenses rose ¥33.0 billion to ¥235.2 billion — personnel costs, up to ¥131.7 billion from ¥113.1 billion, were the largest single increase. Income tax expense widened to ¥59.1 billion from ¥36.4 billion.
Segments after the April reorganisation
Mitsui renamed several reporting segments effective April 1, 2026 and restated prior-year figures accordingly. Innovation & Corporate Development (formerly Next-Generation & Functional Promotion) was the standout, with profit attributable to owners up ¥54.9 billion to ¥65.2 billion on the CIM Group asset-recycling gain and a fair-value gain on the IPO of a quantum-computing business. Mobility, Digital & Infrastructure (formerly Machinery & Infrastructure, now including the power business transferred in from Energy) added ¥23.6 billion to ¥73.0 billion on automotive and gas infrastructure. Energy rose ¥14.2 billion to ¥34.4 billion on a fair-value gain from the IPO of an overseas energy business plus U.S. gas, and Mineral & Metal Resources gained ¥9.7 billion to ¥61.2 billion on copper, iron-ore and coking-coal prices and higher iron-ore volumes, partly offset by coking-coal costs. Wellness Ecosystem (formerly Lifestyle) rose ¥3.6 billion to ¥18.4 billion on food and protein. Against those, Chemicals fell ¥4.3 billion to ¥26.6 billion in reaction to prior-year valuation and one-off items, and Iron & Steel Products slipped ¥1.2 billion to ¥5.3 billion.
Balance sheet and equity ratio
Total assets edged down ¥90.5 billion to ¥20,731.0 billion at June 30. Derivative receivables fell in Innovation & Corporate Development and Energy while trade receivables rose in Energy and Chemicals; other investments increased on the CIM Group reclassification, and property, plant and equipment rose on the Australian iron-ore business. Total liabilities dropped ¥311.9 billion to ¥11,491.7 billion, lifting total equity to ¥9,239.3 billion. Equity attributable to owners of the parent rose to ¥8,980.8 billion from ¥8,767.7 billion at March 31, and the ratio of equity attributable to owners improved to 43.3% from 42.1%.
Guidance held at ¥920 billion; dividend up ¥25
Mitsui left its FY3/2027 forecast unchanged at ¥920.0 billion of profit attributable to owners of the parent, a 10.3% increase, with basic EPS of ¥324.54 — meaning the first quarter alone already covers roughly 32% of the full-year target. The annual dividend forecast also stands at ¥140.00 per share (¥70.00 interim plus ¥70.00 year-end), a ¥25 increase on the ¥115.00 paid for FY3/2026. Weighted-average shares outstanding fell to 2,834,680,446 from 2,874,263,473 a year earlier, reflecting buybacks; 29,817,498 of the 2,864,666,576 shares issued are held in treasury. Management described a modest global recovery over the quarter, with continued AI-related capital spending supporting the U.S. economy even as energy-driven inflation curbed European consumption and property weakness dragged on Chinese domestic demand. One IFRS-required accounting-policy change was applied, and the quarterly statements were not reviewed by an auditor.
| Metric | Q1 FY3/27 | Q1 FY3/26 | YoY |
|---|---|---|---|
| Revenue (¥ billion) | 4,347.6 | 3,299.9 | +31.7% |
| Profit before tax (¥ billion) | 362.2 | 234.3 | +54.6% |
| Profit attrib. to owners (¥ billion) | 294.1 | 191.6 | +53.4% |
| Basic EPS (¥) | 103.73 | 66.68 | +55.6% |
| Equity attrib. to owners ratio (%, vs Mar 31, 2026) | 43.3 | 42.1 | +1.2 pt |
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