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TYO:8031

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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.

TYO:8031
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.

TYO:8031
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.

TYO:8031
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.)

Nikkei 225TYO:5401TYO:8031TYO:8058
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.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

TYO:8031
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.

TYO:8031
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.

Nikkei 225TYO:7731TYO:8031
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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Asia

Mitsui & Co's Profit Drops 7% in Fiscal Year Ended March

Mitsui & Co's (TYO:8031) profit attributable to owners of the parent fell 7.4% to nearly 834 billion yen for the fiscal year ended March 31 from 900.3 billion yen a year earlier.The diversified general trading conglomerate's earnings per share declined to 290.86 yen from 306.47 yen a year ago, according to a Tokyo bourse filing on Friday.Revenue slipped 4.6% to nearly 14 trillion yen from 14.7 trillion yen in the prior year.It declared a final dividend of 60 yen per share for the fiscal 2026,For the fiscal year ending March 31, 2027, the company expects an attributable profit of 920 billion yen and EPS of 324.61 yen.Mitsui & Co plans to pay interim and year-end dividends of 70 yen per share, each, for the year, which is higher than the amount paid in the year-ago period.

TYO:8031
Asia

Japan Logistics Fund to Expand Investment Scope With New Asset Classes

Mitsui & Co., Logistics Partners, the asset manager of Japan Logistics Fund (TYO:8967), has resolved to change the REIT's asset management guideline, effective April 23.The changes aim to expand the REIT's investment opportunities by adding new asset classes to its real estate-related assets, including limited partnership interests in investment businesses that primarily invest in real estate-type assets, as well as monetary claims.Correspondingly, the revised guideline will update the REIT's portfolio construction policy and introduce new provisions for confirming matters related to the acquisition of these expanded asset types.The change is subject to shareholder approval of partial amendments to the Articles of Incorporation at the 16th general unitholders' meeting on that same day, according to a Tokyo bourse filing on Monday.

TYO:8031TYO:8967

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