Mitsui & Co.

Mitsui & Co. is one of the large general trading companies (sogo shosha) of Japan. It trades and invests in many industries through seven segments: Mineral & Metal Resources, Iron & Steel Products, Energy, Mobility, Digital & Infrastructure, Chemicals, Wellness Ecosystem, and Innovation & Corporate Development. It owns interests in iron ore mines in Western Australia with BHP, in LNG and oil projects and in power plants, and it owns about 20.3% of Penske Automotive Group. In the six months to September 30, 2026, revenue was ¥8,322.0 billion and profit attributable to owners of the parent was ¥574.9 billion.

The company reports under IFRS, and its fiscal year ends on March 31. Its shares trade in Tokyo, and its ADRs trade over the counter in the United States. One ADR represents 20 common shares. Kenichi Hori is its president and chief executive officer.

The market prices Mitsui close to the AI estimate. Investors pay for its strong cash flow, rising dividends and buybacks, but they doubt that profit can stay high, because a large part comes from iron ore, oil, LNG and one-time gains. Profit for the six months to September 30, 2026 rose 35.7% to ¥574.9 billion, and the company raised its forecast for the year to March 2027 to ¥1,050.0 billion from ¥920.0 billion. The new forecast assumes a crude oil price (JCC) of $112 per barrel for the year, against $84 in the original plan.

For the stock to keep pace with the AI estimate, three things must be true. Profit must stay near ¥1,050.0 billion as energy prices change, so that the target of the Medium-term Management Plan 2029, profit of ¥1.1 trillion and an ROE of 12% for the year to March 2029, stays within reach. Core operating cash flow must reach the forecast of ¥1,120.0 billion. The company must finish the share buyback of up to ¥200 billion by January 29, 2027 and pay the planned dividend of ¥140 per share.

The nine-month results, expected in early February 2027, give the next test, and the full-year results in May 2027 give the one after it. If commodity prices fall or the yen gets stronger, profit and the stock can fall.

AI estimate, checked by Kevin. How it is made

1. Nov 4, 2026Passed

   First-half results for the year to March 2027Profit on track for the forecast of ¥920.0 billion and a kept dividend pass; a lower forecast fails.Outcome: Profit rose 35.7% to ¥574.9 billion, and the company raised its full-year forecast to ¥1,050.0 billion.
2. Feb 3, 2027 · est.Pending

   Nine-month results to December 2026Profit on track for ¥1,050.0 billion and a completed buyback of up to ¥200 billion pass; a lower forecast fails.
3. May 2027 · est.Pending

   Full-year results for the year to March 2027Profit of ¥1,050.0 billion or more, core operating cash flow of ¥1,120.0 billion or more and a dividend of ¥140 pass; lower profit or a smaller dividend fail.

Every passed and failed checkpoint across all picks

• November 4, 2026Mitsui reported results for the six months ended September 30, 2026. Profit attributable to owners of the parent rose 35.7% to ¥574.9 billion, and core operating cash flow rose to ¥511.6 billion from ¥448.5 billion. Gains on securities and other investments rose to ¥118.6 billion, mainly from the CIM Group real estate business and a Brazilian railway business that stopped being a subsidiary. The company raised its full-year profit forecast to ¥1,050.0 billion from ¥920.0 billion and its core operating cash flow forecast to ¥1,120.0 billion. It kept the dividend forecast of ¥140 per share, with an interim dividend of ¥70.
• November 2, 2026Mitsui said that it had bought back 16,965,100 shares for ¥85.0 billion from August 5 to October 31, 2026, under its program of up to ¥200 billion.
• October 15, 2026Mitsui and Penske Corporation agreed to buy all free-float shares of Penske Automotive Group for $212 per share, about $3.9 billion in total. Mitsui committed up to $1.6 billion of equity. Its share of Penske Automotive will rise from about 20.3% to about 36%, and the deal is expected to close in the quarter to March 2027.

• A large part of profit comes from iron ore, coal, oil and LNG. Mineral & Metal Resources and Energy gave ¥324.6 billion of the ¥511.6 billion of core operating cash flow in the first half of the year to March 2027. Lower commodity prices can cut profit quickly.
• The company reports in yen, and the ADR price is in U.S. dollars. The forecast assumes ¥155 per U.S. dollar for the second half. A stronger yen lowers profit in yen, and a weaker yen lowers the dollar value of each ADR.
• Gains on securities and other investments were ¥118.6 billion in the first half. Such gains do not come every year, and large purchases such as the Penske Automotive deal can earn low returns.
• The plan assumes that the situation in the Middle East becomes normal by the quarter to September 2026. Conflicts can disrupt energy projects, methanol production and trade.

Mitsui funds its investments mainly with long-term loans and bonds. At September 30, 2026, short-term debt was ¥178.2 billion, the current portion of long-term debt was ¥503.1 billion and other long-term debt was ¥5,070.7 billion. Read more

Paid per share

$0.00 in the last 12 months (0 payments)

Latest ex-dividend date

March 31, 2025, $6.845 per share

Dividends per share by year

Source: company filings and market data, read on November 10, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.