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

By Yuka Obayashi

TOKYO, Nov 4 (Reuters) - Japanese trading houses Mitsubishi Corp 8058.T and Mitsui & Co 8031.T 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% 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% to 619.7 billion yen

• Mitsubishi also plans to buy back up to 6% 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

• Mitsui raised its fiscal 2026 net profit forecast by 14% 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% 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)