Japan Mitsui’s Annual Profit Down 15%, Misses Expectations
Japanese trading house Mitsui on Thursday posted a 900.3 billion yen ($6.3 billion) net profit for the year ended in March, 15.4 percent down from a year ago amid weaker performance in its liquefied natural gas trading and lower coking coal prices.
An LSEG poll of analysts had expected Mitsui to post 913.6 billion yen in annual profit for the last fiscal year. The company forecasts net profit for the year ending in March 2026 at 770 billion yen as it expects weak iron ore and coking coal prices to persist in addition to lower crude oil prices.
Mitsui plans to increase annual dividend on the 2026 results to 115 yen from 100 yen for the last year, it said.
Warren Buffett’s Berkshire Hathaway is a large minority shareholder in Mitsui with around a 10 per cent stake.
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