Mitsubishi Materials Corp. · TSE:5711

Mitsubishi Materials — H1 FYE March 2027 Earnings Presentation

28 slides from Mitsubishi Materials's earnings presentation, Nov 11, 2026

  1. Slide 1: Presentation Materials for the First Six Months of the Fiscal Year Ending March 31, 2027

    Presentation Materials for the First Six Months of the Fiscal Year Ending March 31, 2027 November 11, 2026

  2. Slide 2: Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved.

    Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved.

  3. Slide 3: Table of Contents

    Table of Contents 1. Executive Summary P.4 2. Results for the First Six Months of the Fiscal Year Ending March 31, 2027 P.7 3. Forecast for the Fiscal Year Ending March 31, 2027 P.11 4. Reference P.16 Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. 3

  4. Slide 4: Executive Summary (1/3)

    Executive Summary (1/3) • Automotive: Demand in Japan and Southeast Asia remains solid, and the overall outlook has improved from our previous forecast. Demand for our copper and copper alloy products and cemented carbide products continues to recover. Business • Semiconductors: Demand remains solid

  5. Slide 5: Executive Summary (2/3)

    Executive Summary (2/3) Net sales and profit increased, driven by a rise in the prices of metals such as tungsten, copper, and gold, the depreciation of the yen, and growth in automobile- and semiconductor-related demand. FYE March The Company achieved record-high first-half profit. 2027 H1 Results

  6. Slide 6: Executive Summary (3/3)

    Executive Summary (3/3) Quality of Earnings: H1 Profit +¥36.9bn from Management Initiatives; Improved FCF Outlook FYE March 2027 H1 Results FYE March 2027 Full-year FCF Forecast 1• Offset higher costs (metal prices, lower TC/RC, 3• Continue structural working capital improvements etc.) through agile

  7. Slide 7: H1 Results (Consolidated Statement of Income)

    FYE March 2027 H1 Results (Consolidated Statement of Income) Revenue and profit increased, driven by higher tungsten, copper and gold prices, a weaker yen, stronger automotive and semiconductor demand, and optimized pricing for cemented carbide products. Extraordinary income (loss) improved year-on-

  8. Slide 8: H1 Results (Breakdown of Factors Affecting Profit Changes)

    FYE March 2027 H1 Results (Breakdown of Factors Affecting Profit Changes) Operating profit: Profit increased substantially due to price differences resulting from the rise in tungsten prices, differences in the raw material mix for smelting, increased sales driven by growing semiconductor-related de

  9. Slide 9: H1 Results: Breakdown of Factors Affecting Profit by Segment

    FYE March 2027 H1 Results: Breakdown of Factors Affecting Profit by Segment Metals/Resources Circulation (price): Release of low-cost tungsten inventory +50.2*1 Metals/Resources Circulation (FX): Yen depreciation / inventory valuation +5.5 Metalworking Solutions (price): Higher raw material prices /

  10. Slide 10: Consolidated Financial Position (H1)

    Consolidated Financial Position (FYE March 2027 H1) Total assets: Decreased on lower metal prices*, mainly from lower metal loans and inventories. Net D/E ratio: Improved vs. FY-end through continued financial discipline. Equity ratio: 28.0% (44.3% excluding deposited gold bullion) * Gold price: Mar

  11. Slide 11: Full-year Forecast: Overview of Consolidated Financial Results

    FYE March 2027 Full-year Forecast: Overview of Consolidated Financial Results Reflects higher H1 metal prices, pricing initiatives for cemented carbide products and higher semiconductor sales. Net income growth is expected to moderate due to restructuring costs. ROIC*¹ expected to improve on higher

  12. Slide 12: Forecast: Breakdown of Profit Changes vs. Previous Forecast (Aug. 6)

    FYE March 2027 Forecast: Breakdown of Profit Changes vs. Previous Forecast (Aug. 6) Operating profit: Higher on H1 results, tungsten raw material price spreads and cemented carbide pricing. Ordinary profit: Higher on operating profit growth and increased dividends and equity-method earnings from hig

  13. Slide 13: Forecast by Segment: Breakdown of Changes vs. Previous Forecast

    FYE March 2027 Forecast by Segment: Breakdown of Changes vs. Previous Forecast (Aug. 6) Metals/Resources Circulation (price): Tungsten raw material price spread +24.2 Metalworking Solutions (price): Higher raw material prices / additional pricing +7.7 Mineral Resources (dividend income): Revised min

  14. Slide 14: Breakdown of Changes in Ordinary Profit from H1 Results to H2 Forecast

    Breakdown of Changes in Ordinary Profit from H1 Results to H2 Forecast H2 profit expected to decline on the absence of H1 copper mine dividends, recovery improvements and the low-cost tungsten inventory benefit, as well as longer furnace maintenance at Naoshima and other structural reforms. (Billion

  15. Slide 15: Forecast: Cash Flow

    FYE March 2027 Forecast: Cash Flow FCF* significantly raised from the previous forecast on higher profit, lower working capital and revised investment timing. Future shareholder returns will be determined after further reviewing investment plans, financial discipline and other relevant factors. (Bil

  16. Slide 16: Reference

    Reference 16

  17. Slide 17: Segment Overview (Metals/Resources Circulation)

    Segment Overview (Metals/Resources Circulation) H1 Results Full-year Forecast Higher profit on low-cost tungsten inventory Higher profit expected on tungsten raw release, improved recovery, FX-driven material price spreads and higher by-product inventory valuation gains and favorable raw prices, inc

  18. Slide 18: Segment Overview (Copper & Copper Alloy Products)

    Segment Overview (Copper & Copper Alloy Products) H1 Results Full-year Forecast Higher profit on copper-driven inventory Higher profit expected on inventory valuation valuation gains, pricing and higher sales gains from revised copper price assumptions volumes driven by stronger demand. and pricing

  19. Slide 19: Segment Overview (Metalworking Solutions)

    Segment Overview (Metalworking Solutions) H1 Results Full-year Forecast Higher profit on a weaker yen, pricing to Higher profit expected despite lower volumes offset higher raw material costs, recovering as temporary demand eases, supported by auto demand, and temporary demand growth. pricing to off

  20. Slide 20: Segment Overview (Advanced Products)

    Segment Overview (Advanced Products) H1 Results Full-year Forecast Higher profit on temporarily higher copper Higher profit expected on pricing and higher product sales to smelters and increased AI/semiconductor product volumes. semiconductor seal product volumes. FYE March FYE March Previous Full-y

  21. Slide 21: Overview of Mitsubishi UBE Cement Corporation (MUCC)

    Overview of Mitsubishi UBE Cement Corporation (MUCC) MUCC Consolidated Profit and Loss Statement (Billions of yen) Key Metrics of MUCC FYE March FYE March FYE March FYE March 2026 H1 Result 2027 H1 Result 2026 H1 Result 2027 H1 Result Domestic Cement demand in Net sales 179.5 189.3 (Mt) 15.35 14.50

  22. Slide 22: Cash Flows

    Cash Flows • FCF to increase significantly on higher ordinary profit and lower working capital. • Future shareholder returns will be determined after further reviewing investment plans, financial discipline and other relevant factors. (Billions of yen) 203.0 214.0 ■Operating CF ■Investing CF ● FCF*

  23. Slide 23: Quarterly Results by Segment

    Quarterly Results by Segment FYE March 2026 FYE March 2027 （Billions of yen） H2 Full-year Q1 Q2 H1 Q3 Q4 H2 Full-year Q1 Q2 H1 Forecast Forecast Net sales 332.0 299.5 631.5 355.7 439.6 795.4 1,427.0 472.1 526.1 998.3 937.2 1,935.5 Materials Business Operating profit -5.2 11.0 5.7 11.6 28.7 40.4 46.1

  24. Slide 24: Breakdown by Segment

    Breakdown by Segment Previous Full-year Forecast Current Full-year Forecast Change (Aug. 6) (a) (Nov. 11) (b) (b-a) （Billions of yen） Operating Ordinary Operating Ordinary Operating Ordinary Net sales Net sales Net sales profit profit profit profit profit profit Materials Business Area 1,942.6 118.5

  25. Slide 25: Key Metrics (1/2)

    Key Metrics (1/2) Production and Sales of Major Products FYE March 2026 FYE March 2027 Full- H2 Full-year Q1 Q2 H1 Q3 Q4 H2 Q1 Q2 H1 year Forecast Forecast Copper production kt 81 101 181 86 87 174 355 80 82 161 125 286 cathode sales kt 77 89 166 83 85 167 333 71 75 146 110 256 production t 4 4 8 4

  26. Slide 26: Key Metrics (2/2)

    Key Metrics (2/2) Dividends from Mining Interests FYE March 2026 FYE March 2027 Full- H2 Full-year Q1 Q2 H1 Q3 Q4 H2 Q1 Q2 H1 year Forecast Forecast Los Pelambres ¥bn － － － 18.1 0.2 18.3 18.3 9.5 21.0 30.5 7.2 37.8 Escondida ¥bn 2.2 － 2.2 1.9 0.4 2.3 4.6 2.8 0.9 3.7 3.7 7.4 Total mine dividends ¥bn

  27. Slide 27: Impact of Raw Material Inventory Valuation

    Impact of Raw Material Inventory Valuation FYE March 2026 FYE March 2027 (Billions of yen) Full- H2 Full-year Q1 Q2 H1 Q3 Q4 H2 Q1 Q2 H1 year Forecast Forecast Operating profit -6.2 9.1 2.9 5.9 21.1 27.0 29.9 20.5 68.5 89.0 37.4 126.5 Inventory valuation impact -4.4 -1.0 -5.4 +1.0 +0.1 +1.2 -4.2 -0.

  28. Slide 28: For more information, please contact

    For more information, please contact: Mitsubishi Materials Corporation Investor Relations Dept. Marunouchi Nijubashi Building, 3-2-3, Marunouchi, Chiyoda-ku, Tokyo 100-8117, Japan ml-mmcir@mmc.co.jp https://www.mmc.co.jp/corporate/en/ To subscribe to our email distribution service for the latest tim

Mitsubishi Materials — H1 FYE March 2027 Earnings Presentation on 6ix