JAPAN'S MITSUI SEES NET PROFIT FALLING 15% ON WEAKER ENERGY BUSINESS

Mitsui (8031.T) anticipates a 15.4% decline in net profit to 900 billion yen ($5.7 billion) for the fiscal year ending in March 2025, primarily due to the weaker performance of its energy business, the trading house announced on Wednesday. To enhance shareholder returns, the company plans to repurchase up to 40 million of its shares, valued at up to 200 billion yen, by September 20.

In the fiscal year ended in March, Mitsui experienced a 6% decrease in net profit to 1.1 trillion yen, attributed to lower prices of metallurgical coal, crude oil, and gas. However, this result exceeded analysts' expectations from an LSEG poll, which forecasted net profit of 973 billion yen. As part of its three-year business plan unveiled in May 2023, Mitsui anticipates a net profit of 920 billion yen for the fiscal year ending in March 2026.

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