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TYO:8031

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Asia

Update: Mitsui Signs Deal with Singapore's Oncoshot to Build Asia-Wide Medical Data Network for Drug Trials

(Updates to reflect Mitsui's company release dated Sept. 11)Mitsui & Co (TYO:8031) is establishing a medical data network across Asia under an agreement with Singapore's Oncoshot, according to a Sept. 11 company release.The deal will see Mitsui use Oncoshot's proprietary clinical data analysis technology, as the companies aim to promote the standardization of oncology clinical data, advance international research, shorten clinical study timelines, and generate evidence based on diverse patient populations, the release said.Working with Singapore-based startup Oncoshot and leveraging its hospital network stake, Mitsui has launched the platform with roughly 100,000 patient records across more than 20 facilities, according to a Nikkei report on Thursday.The company is also in talks with major Japanese institutions to join by 2028, the report said.

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Asia

Market Chatter: Mitsui to Build Asia-Wide Medical Data Network for Drug Trials

Mitsui & Co (TYO:8031) is establishing a medical data network across Asia to compile anonymized records from 1 million patients by 2028, Nikkei Asia reported on Thursday.The move is aimed at assisting global pharmaceutical firms in clinical trial recruitment, the report said.Working with Singapore-based startup Oncoshot and leveraging its hospital network stake, Mitsui has launched the platform with roughly 100,000 patient records across more than 20 facilities, Nikkei said.The company is also in talks with major Japanese institutions to join by 2028, the report said.Mitsui & Co did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Mitsui Begins Exporting Indian-Made Electric Buses to Africa

Japanese trading firm Mitsui & Co (TYO:8031) began exporting EKA-brand electric vehicle buses manufactured by India's Pinnacle Mobility Solutions to Africa to compete against automakers like BYD (HKG:1211, SHE:002594), Nikkei Asia reported Monday.To meet the demand for the same and bank on low-cost production, a new plant will be built in Pithampur with an investment of 15 billion yen. The plant is estimated to double the annual production capacity to 10,000 vehicles, the report said.Buses will be assembled at partner facilities in Africa to lower tariff costs. Mitsui aims to establish assembly facilities in Ethiopia, Ghana and South Africa, while looking into establishing similar facilities in Ivory Coast and Uganda, it said.Shares of Mitsui & Co rose nearly 1% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:1211SHE:002594TYO:8031
Asia

Market Chatter: Berkshire Eyes Larger Stakes in Japan Trading Houses, Says CEO

Berkshire Hathaway plans to expand its holdings in Japan's five largest trading houses while also seeking more joint ventures and M&A deals globally, Nikkei Asia reported Friday, citing CEO Greg Abel in an interview.Abel reaffirmed confidence in the trading houses Mitsubishi (TYO:8058), Itochu (TYO:8001), Mitsui (TYO:8031), Sumitomo (TYO:8053), and Marubeni (TYO:8002), the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Berkshire Hathaway Eyes Higher Stakes in Japan's Top Five Trading Houses

Berkshire Hathaway is considering to raise its stakes in Japan's five biggest trading houses, Mitsubishi Corp. (TYO:8058), Itochu (TYO:8001), Mitsui & Co. (TYO:8031), Sumitomo Corp. (TYO:8053), and Marubeni (TYO:8002), Nikkei Asia reported Thursday, citing CEO Greg Abel in an exclusive interview.Berkshire, which began investing in the trading firms around 2020, has raised its holdings to more than 10% in each company. Abel said Berkshire also aims to pursue more joint investments and mergers and acquisitions opportunities with the trading houses on a global scale, the report said.Shares of Mitsubishi Corp., Itochu, Mitsui & Co., Sumitomo Corp., and Marubeni added 5%, 3%, 4%, 5%, and 3% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Mitsui & Co. No Longer Major Shareholder of PHC

Mitsui & Co. (TYO:8031) is no longer a major shareholder of PHC (TYO:6523) after selling part of its stake on Sept. 2, according to a Tokyo bourse filing on Wednesday.The company's voting rights dropped from 11.05% to 9.92%, moving it below the major shareholder threshold.

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Asia

Japanese Stocks Close Marginally Lower After Positive Nvidia Results; Oil Falls

Japanese stocks closed marginally lower on Thursday after a positive earnings report from US technology major Nvidia revived investor confidence in artificial intelligence investments. Treasury prices fell, raising expectations for interest-rate hikes.The benchmark Nikkei 225 closed down 130.18 points, or 0.20%, at 66,131.98.Oil prices fell after a renewed push to ease tensions in the Middle East amid reports of Qatar's prime minister's high-stakes visit to Iran to defuse US-Iran hostilities and negotiate the opening of the Strait of Hormuz.On the corporate side, Mitsui & Co. (TYO:8031) filed for the listing of $750 million in 4.930% bonds due 2031 on the Singapore bourse, according to a filing with the Singapore Exchange on Thursday.Also, Nissan Motor (TYO:7201) said it launched refreshed versions of its Fairlady Z and Fairlady Z NISMO sports cars in Japan, with both models going on sale immediately.

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Treasury

Mitsui & Co. Files for Singapore Listing of $750 Million Bonds

Mitsui & Co. (TYO:8031) filed for the listing of $750 million in 4.930% bonds due 2031 on the Singapore bourse, according to a filing with the Singapore Exchange on Thursday.The bonds will be listed and quoted on the Bonds Market on Aug. 28, the filing said.

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Asia

Japanese Stocks Marginally Down on Treasury Yield Stability; Oil Gains

Japanese stocks closed marginally down on Friday to end in the red as treasury yields climbed, raising investor concerns that the treasury efforts to stabilize borrowing costs may only bring temporary relief.The benchmark Nikkei 225 closed down 200.43 points, or 0.30%, at 66,016.36Oil prices jumped to a one-month high as the US-Iran diplomatic deadlock deepened after the US Treasury chief Scott Bessent said the United States plans "the toughest sanctions in history" on Iran, raising concerns over Middle East oil supplies.On the corporate side, ANA Holdings (TYO:9202) said that its subsidiary All Nippon Airways and Tokyo-based AI and robotics company Avatarin launched remote passenger support services across multiple regional airports using Avatarin's "newme" robots.Also, S&P Global Ratings has placed an A long-term issue credit rating on Mitsui's (TYO:8031) U.S. dollar senior unsecured bonds, according to a Friday release.

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Treasury

S&P Assigns A Rating to Mitsui's U.S. Dollar Bonds

S&P Global Ratings has placed an A long-term issue credit rating on Mitsui's (TYO:8031) U.S. dollar senior unsecured bonds, according to a Friday release.The bonds' rating is in line with the general trading and investment company's long-term issuer credit rating, stemming from its low-enough leverage that narrows notable disadvantage for lenders relative to others.The company's rating reflects its solid business base in resources and energy and potential net profit of about 900 billion yen in the next years due to improved businesses, S&P said.However, the rating also considers highly volatile performance and cash flow due to its resources and energy exposure.Shares of the company rose nearly 3% in recent trade.

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Asia

Mitsui & Co, European Energy Expand e-Methanol Supply from Denmark

Mitsui & Co (TYO:8031) and European Energy are increasing e-methanol production at their facility in Kassø, Denmark, the Japanese trading house said in a press release Thursday.The expansion follows deliveries to Maersk for marine fuel in 2025, as well as to the LEGO Group and Novo Nordisk for chemical production earlier this year. OMV has also agreed to purchase the fuel for road transport under European Union renewable fuel standards.E-methanol is produced from green hydrogen and biomass-derived carbon dioxide.

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Asia

Mitsui & Co.'s Profit Rises 53% in Fiscal Q1

Mitsui & Co. (TYO:8031) posted a 53.4% year-over-year increase in attributable profit to 294.05 billion yen for the three months ended June 30 from 191.65 billion yen.The general trading conglomerate's earnings per share increased to 103.65 yen from 66.63 yen a year ago, according to a Tokyo Stock Exchange filing on Tuesday.Revenue jumped 31.7% to 4.348 trillion yen from 3.299 trillion yen in the year-ago period.For the fiscal year ending March 31, 2027, the company forecasts an attributable profit of 920 billion yen and EPS of 324.54 yen.

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Asia

Mitsui & Co's Attributable Profit Jumps 53% in Fiscal Q1

Mitsui & Co (TYO:8031) posted a 53% year-over-year jump in attributable profit for the fiscal first quarter to 294.1 billion yen from 191.6 billion yen.Earnings per share were 103.65 yen, compared with 66.63 yen a year earlier, according to a Tokyo bourse filing on Tuesday.Revenue rose 32% to 4.348 trillion yen from 3.300 trillion yen for the three months ended June 30.For the fiscal year ending March 31, 2027, the trading house expects attributable profit of 920 billion yen and basic EPS of 324.54 yen.The company plans to pay interim and year-end dividends of 70 yen per share each for the current year, which is higher than the year-ago period.Shares of the company fell more than 1% in recent trade.

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Asia

Mitsui & Co, Penske Corp. Submit Non-Binding Proposal to Acquire Penske Automotive Free-Float Shares

Mitsui & Co (TYO:8031) and US-based transport company Penske Corporation submitted a non-binding proposal to acquire all the free-float shares of common stock of the latter's subsidiary Penske Automotive Group, according to a Thursday filing with the Tokyo bourse.Mitsui and Penske Corp. offered to acquire the 18.25 million free-float shares for $210 per share, bringing the acquisition cost to $3.83 billion. The offer price implies an equity value of $13.8 billion for Penske Automotive Group. The proposed acquisition will be funded via new equity contributions and third-party debt financing, the filing said.Shares of the diversified general trading conglomerate rose nearly 1% in recent trade.

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Asia

Market Chatter: JBIC's US Exposure Surges Fivefold as Japan Prioritizes Economic Security

Japan's state-owned Japan Bank for International Cooperation or JBIC saw U.S. approvals surge over fivefold to 1.31 trillion yen in fiscal 2025, now at 52% of its portfolio, up from 18% a year ago, Nikkei reported on Thursday.The shift from emerging markets reflects Tokyo's push to fortify supply chains amid U.S.-China friction, highlighted by a $3.7 billion loan for Nippon Steel's (TYO:5401) acquisition of U.S. Steel, the news daily said.Other deals back energy and materials procurement, including Mitsubishi Corp.'s (TYO:8058) purchase of a U.S. gas developer and a Mitsui (TYO:8031)-JERA low-carbon ammonia venture, the publication said.JBIC is also financing Japan's $550 billion U.S. investment pledge, having already funded 350 billion yen in first-round projects like a gas power plant and oil port, with more rounds expected, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Research

SBI Securities Downgrades Mitsui & Co. to Neutral from Buy; Price Target is 5,330 Yen

Mitsui & Co. (TYO:8031) has an average rating of overweight and mean price target of 6,500.77 yen, according to analysts polled by FactSet.

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Asia

Mitsui Reports Delay in Disclosing Two US Units as Specified Subsidiaries

Mitsui & Co's (TYO:8031) US-based real estate subsidiary, MBK Real Estate, conducted a capital increase in MBK Homes and MBK Rental Living, making them its specified subsidiaries on October 6, 2023, according to a Monday Tokyo bourse filing.The diversified general trading conglomerate said that the company failed to make the required disclosure at the time and "sincerely apologizes" for the delay in reporting the changes.Following the $12 million capital increase by its unit in October 2023, the capital of each subsidiary exceeded 10% of Mitsui's capital, meeting the criteria to be designated as its specified subsidiaries.

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Asia

Japanese Shares End Week With Gains on Hopes of US-Iran Ceasefire Extension

Japanese shares ended the week on a high, closing with gains on Friday, driven by optimism in global markets over a tentative 60-day ceasefire extension and renewed nuclear talks between the US and Iran.The Nikkei 225 closed up 1,636.38 points or 2.5% at 66,329.50.The drop in oil prices, with Brent crude falling towards $93 per barrel, also helped to lift investor sentiment.News platform Axios reported that the U.S. ​and Iran agreed on ​a 60-day memorandum ⁠of ​understanding to extend ​the ceasefire and launch negotiations ​on ​Iran's nuclear program. However, US ⁠President Donald Trump has yet to give final approval to the proposals.If approved, the deal will allow unrestricted shipping through the Strait of Hormuz, easing trade woes.Domestic investor mood was uplifted by the growth in Japan's retail sales by 2.1% year-on-year to 13.217 trillion yen in April, according to preliminary data from the Ministry of Economy, Trade, and Industry on Friday.The ministry also released data that showed Japan's industrial production index rose at a seasonally adjusted 0.8% in April from the month prior, and increased 2.3% from a year ago.Also, Japan's unemployment rate eased to 2.5% in April compared with the previous month's 2.7%, according to government data released on Friday.On the corporate side, Mitsui & Co (TYO:8031) plans to expand its liquefied natural gas investments across the Middle East, the U.S., and Australia, as the Japanese trading giant responds to surging electricity demand from data centers worldwide, Bloomberg News reported on Friday, citing CEO Kenichi Hori.Also, Nikon (TYO:7731) aims to revive its semiconductor photolithography business by offering lower prices than Dutch rival ASML, which controls over 80% of the market, Nikkei Asia reported on Friday, citing newly appointed president and CEO, Yasuhiro Ohmura.

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Asia

Market Chatter: Mitsui Eyes LNG Investments in Middle East, US, Australia Amid Surging Data Center Power Demand

Mitsui & Co (TYO:8031) plans to expand its liquefied natural gas investments across the Middle East, the U.S., and Australia, as the Japanese trading giant responds to surging electricity demand from data centers worldwide, Bloomberg News reported on Friday, citing CEO Kenichi Hori.Hori told Bloomberg News that the company is actively seeking growth opportunities in LNG and gas-based chemicals, whether through equity stakes or long-term offtake agreements.He noted that businesses searching for cleaner energy to support artificial intelligence infrastructure are generating significant new demand for LNG, the news wire said.As one of Japan's five major trading houses backed by Warren Buffett, alongside Mitsubishi (TYO:8058), Sumitomo (TYO:8053), Itochu (TYO:8001), and Marubeni, Mitsui has benefited from strong commodity prices and a weaker yen across its global energy and metals operations, the publication said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Itochu to Invest 1.5 Trillion Yen for Market Capitalization Boost

Itochu (TYO:8001) will allocate 1.5 trillion yen for the improvement of its market capitalization and the maintenance of its leading position among trading companies in Japan, Nikkei Asia reported Tuesday.Chairman and CEO Masahiro Okafuji said the company is on track to claim the "triple crown" among the country's trading houses after reaching record profit for the second consecutive year, according to the report.A trading house achieves "triple crown" after ranking first across net profit, market return on equity, and market capitalization, the report said.The company's profit attributable to owners of the parent grew 2.3% annually to about 900.3 billion yen in fiscal year 2025, which the report said is the largest in the sector.The company also posted the highest return on equity at 14.6%, the report said.The increased investment plan looks to regain the market capitalization lead that the company had earlier this year, and which it had lost to Mitsui & Co. (TYO:8031) and Mitsubishi (TYO:8058), according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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