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Mitsui Kinzoku Swings to Profit in Fiscal Q1

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Mitsui Kinzoku (TYO:5706) posted a year-over-year rise in profit attributable to owners of the parent to 16.8 billion yen for the three months ended June 30 from a loss of 5.97 billion yen.

The Japan-based metal supplier's basic earnings per share increased to 294.08 yen from a loss of 104.41 yen a year ago, according to a Tokyo Stock Exchange filing on Friday.

Net sales jumped 19% to 201.6 billion yen from 169 billion yen in the year-ago period.

In a separate filing, the company raised its forecast for the fiscal year ending March 31, 2027, with an attributable profit of 80 billion yen, basic EPS of 139.83 yen, and net sales of 850 billion yen.

The company plans to pay a second quarter-end dividend of 140 yen per share for the current fiscal year.

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