Mitsui & Co.,ltd · TSE:8031
Mitsui & Co.,ltd — Mitsui & Co Ltd Ord — FY March 2026 Earnings Presentation
46 slides from Mitsui & Co.,ltd's earnings presentation, May 7, 2026
Slide 1: Creating Sustainable Futures: FY March 2026 Financial Results
Creating Sustainable Futures FY March 2026 (April 2025 -March 2026) Financial Results This material contains statements (including figures) regarding Mitsui & Co., Ltd. ("Mitsui")'s corporate strategies, objectives, and views of future developments that are forward -looking in nature and are not sim
Slide 2: Agenda
1 Medium -term Management Plan 2026 Results Details of FY March 2026 Operating Results 2 and FY March 2027 Business Plan 3 Supplementary Information
Slide 3: Medium-term Management Plan 2026 Results
1 Medium -term Management Plan 2026 Results Details of FY March 2026 Operating Results 2 and FY March 2027 Business Plan 3 Supplementary Information
Slide 4: FY March 2026 Results
FY March 2026 Results ◆ Both COCF *1 and profit exceeded forecast ◆ COCF reached 1 trillion yen level for fifth consecutive fiscal year FY March 2025 FY March 2026 YoY change Forecast (JPY) results results (announced February 2026) COCF *1 1,027.5 bn 978.9 bn -48.6 bn 950 bn Profit *2 900.3 bn 834.0
Slide 5: Cash Flow Allocation (Results)
Cash Flow Allocation (Results) ◆ Investments for growth and asset recycling steadily executed in line with the MTMP* 1 ◆ Investments for growth for FY March 2026 exceeded 1 tr yen, historical high for single fiscal year MTMP 2026 MTMP 2026 forecast *3 results FY March 2026 (bn JPY) (FY March 24 -26)
Slide 6: Timing of Earnings Contribution from New Projects
Timing of Earnings Contribution from New Projects ◆ New projects well balanced between each of the 3 Key Strategic Initiatives and profit contribution timing have lifted base profit by 54 bn yen FY March 2026 FY March 2025 Taylor & Martin (US: truck auction) ITC Antwerp becoming a FY March 2024 Okam
Slide 7: Shareholder Returns
Shareholder Returns ◆ FY March 2026: Increased DPS* 1 by 15 yen YoY, executed 200 bn yen of share repurchases ◆ MTMP 3 year period: Shareholder returns as % of COCF exceeded 53 % DPS Interim: 55 / Year -End: 60 / Full -Year: 115 115 CAGR 22 % 100 (FY March 2021 -2026) 85 8,000 70 (JPY) 6,000 ● DPS 5
Slide 8: Details of FY March 2026 Operating Results and FY March 2027 Business Plan
1 Medium -term Management Plan 2026 Results Details of FY March 2026 Operating Results 2 and FY March 2027 Business Plan 3 Supplementary Information
Slide 9: COCF (Results): YoY Segment Comparison
FY March 2026 COCF (Results): YoY Segment Comparison ◆ Lower mainly due to swing back of large LNG dividends in previous period (accrued in FY March 2024) (bn JPY) FY March 2025 FY March 2026 Segment Change Main factors results results Mineral & Metal Iron ore and metallurgical coal prices, dividend
Slide 10: Profit (Results): YoY Segment Comparison
FY March 2026 Profit (Results) : YoY Segment Comparison (bn JPY) FY March 2025 FY March 2026 Segment Change Main factors results results Mineral & Metal [－] Iron ore and metallurgical coal (prices), copper (costs, Resources 285.4 253.6 -31.8 volumes) [＋] Copper prices [－] LNG volumes, crude oil pric
Slide 11: Factor Comparison: Profit YoY
Factor Comparison: FY March 2026 Profit YoY (bn JPY) +32 -34 -13 -81 +30 Commodity prices Total -6.0 Valuation Resources ■ Min. & Metal -10.0 Asset Base profit ・Iron ore -11.0 gains/losses and costs/volume ・Metallurgical coal -8.0 recycling one -time factors ＜Positive factors ＞ Costs -15.0 ・Copper,
Slide 12: Balance Sheet as of end-March 2026
Balance Sheet as of end -March 20 26 End -March 2025 End -March 2026 Main balances and changes Other Current liabilities Changes from (tr JPY) assets End -March 2026 6.0 (Tr JPY) end -March 2025 Current Other liabilities 7.1 Interest -bearing debt *3 5.1 ＋0.8 assets 4.3 Net interest -bearing debt *4
Slide 13: FY March 2027 Business Plan: COCF YoY Segment Comparison
FY March 2027 Business Plan : COCF YoY Segment Comparison (bn JPY) FY March 2026 FY March 2027 Segment Change Main YoY factors results business plan Mineral & Metal [＋] Metallurgical coal prices, dividends from equity method Resources 330.4 340 +9.6 investees [－] Iron ore (volume and costs) Iron & S
Slide 14: FY March 2027 Business Plan: Profit YoY Segment Comparison
FY March 2027 Business Plan : Profit YoY Segment Comparison (bn JPY) FY March 2026 FY March 2027 Segment Change Main YoY factors results business plan Mineral & Metal [－] Iron ore (volume and costs) Resources 253.6 250 -3.6 [＋] Copper and metallurgical coal prices Iron & Steel Products 18.9 20 +1.1
Slide 15: Factor Comparison: FY March 2027 Business Plan YoY
Factor Comparison: FY March 2027 Business Plan YoY (bn JPY) +54 +23 -17 +23 +3 Commodity prices Total +43.0 ■ Min. & Metal +26.0 ・Iron ore 0 ・Metallurgical coal +13.0 ・Copper, others +13.0 ■ Energy +17 .0 Valuation 834 Base profit Resources Asset recycling gains/losses and 920 costs/volume one -time
Slide 16: Supplementary Information
1 Medium -term Management Plan 2026 Results Details of FY March 2026 Operating Results 2 and FY March 2027 Business Plan 3 Supplementary Information
Slide 17: Supplementary Information
3 Supplementary Information 1 Asset Recycling, Valuation Gains/Losses and 8 YoY Profit Change (by Segment and Factor ) One -Time Factors by Segment 9 Consolidated Statements of Income & Financial 2 Assumptions and Sensitivities Position 3 Mineral & Metal Resources - Equity Share of Production 10 Seg
Slide 18: Asset Recycling, Valuation Gains/Losses and One-Time Factors by Segment
1. Asset Recycling, Valuation Gains/Losses and One -Time Factors by Segment (bn JPY) FY March 2026 result FY March 2027 business plan Segment Incl. asset recycling, Incl. valuation Incl. asset valuation Profit recycling gains/losses and Profit gains/losses and one -time factors one -time factors Min
Slide 19: Assumptions and Sensitivities
2. Assumptions and Sensitivities Impact of price fluctuations on profit for the year FY March 2027 FY March 2026 attributable to owners of the parent for FY March 2027 assumption result Crude oil/JCC - bn JPY (1USD/bbl) 84 *1 71 Gross: 1.3 Consolidated oil price *2 bn JPY (1USD/ bbl ) 80 78 Net *3 :
Slide 20: Mineral & Metal Resources – Equity Share of Production
3. Mineral & Metal Resources – Equity Share of Production Iron ore Metallurgical coal Copper *1 *2 *5 *3 *5 *1 *2 *5 (Million tons) (Million tons) (Kilotons) 65.3 63.8 145 63.0 63.1 62.0 114 6.2 110 5.5 5.8 93 Equity Share 5.1 5.0 91 of Production ( as of May 2026) 2025 2026 2027 2028 2029 *4 2025 2
Slide 21: Mineral & Metal Resources: Main Businesses – Producing Assets
4. Mineral & Metal Resources : Main Businesses – Producing Assets Product Name *1 Location FY March 2026 Main partners Equity Revenue Accounting equity production ratio *3 recognition period Consolidated Robe River Australia 20.8 million tons Rio Tinto 33.0% (partially accounted for Mar by equity me
Slide 22: Energy: Natural Gas, LNG, and Crude Oil
5. Energy: Natural Gas, LNG, and Crude Oil Equity Share of Production and Reserves Production *1 *2 *as of May 2026 Reserves *1 *3 *as of Oct 2025 (KBoE *4/day) (100m barrels) ■ Natural gas, LNG ■Crude oil ■ Natural gas, LNG ■Crude oil 241 247 13.3 13.6 228 12.5 12.2 205 211 206 213 10.9 11.9 159 16
Slide 23: Energy: Main Businesses – Producing Assets
6. Energy: Main Businesses – Producing Assets Business Shareholder composition Mitsui Revenue Accounting Project name Location Production capacity / interest holders participating entity recognition period 6.0 million ADNOC Gas (70%), BP (10%), Dividend ADNOC LNG UAE tons/year TotalEnergies (5%) Mit
Slide 24: Energy: Main Businesses – Producing Assets
6. Energy: Main Businesses – Producing Assets Mitsui participating Business Production Shareholder composition entity and Revenue Accounting Project name Location (most recent data) / interest holders recognition period equity ratio Occidental (50%) Block 9 *1 Oman Not disclosed OQ (45%) MEPME (5%)
Slide 25: Power Generation Portfolio
7. Power Generation Portfolio Generation capacity Energy source By region (Mitsui’s share) (Target: Renewable energy ratio over 30% by 2030) Renewable energy Gas Coal Oil Net 11.0GW Asia, Australia End -March 2022 (Gross 40 GW) 15% 63% 19% 3% 21% Europe, Africa, 41% Middle East Americas 38% End -Mar
Slide 26: YoY Profit Change (by Segment and Factor)
8. YoY Profit Change (by Segment and Factor) (bn JPY) *2 Foreign exchange (yen vs FC) that does not belong to segments other than *1 Mineral & Metal Resources and Energy is included in Others . *3 The symbols (+/ -) listed in the two Previous year columns under Asset recycling and Valuation gains/lo
Slide 27: YoY Profit Change (by Segment and Factor)
8. YoY Profit Change (by Segment and Factor) (bn JPY) *1 Breakdown of Resources -related/Commodity Prices/Forex ( Resources/Prices/FX) is shown in the footnotes on P. 26. *2 Foreign exchange (yen vs FC) that does not belong to segments other than Mineral & Metal Resources and Energy is included in O
Slide 28: YoY Profit Change (by Segment and Factor)
8. YoY Profit Change (by Segment and Factor) (bn JPY) *1 Breakdown of Resources -related/Commodity Prices/Forex ( Resources/Prices/FX) is shown in the footnotes on P. 26. *2 Foreign exchange (yen vs FC) that does not belong to segments other than Mineral & Metal Resources and Energy is included in O
Slide 29: YoY Profit Change (by Segment and Factor)
8. YoY Profit Change (by Segment and Factor) (bn JPY) *1 Breakdown of Resources -related/Commodity Prices/Forex ( Resources/Prices/FX) is shown in the footnotes on P 26. *2 Foreign exchange (yen vs FC) that does not belong to segments other than Mineral & Metal Resources and Energy is included in Ot
Slide 30: Consolidated Statements of Income & Financial Position
9. Consolidated Statements of Income & Financial Position Consolidated Statements of Income Net D/E ratio and Adjusted Net D/E ratio (bn JPY) FY 3/26 FY 3/25 Changes end -Mar 26 end -Mar 25 Gross profit 1,328.2 1,288.4 +39.8 Interest -bearing debt SG&A -902.1 -887.7 -14.4 Short -term debt 166.2 163.
Slide 31: Segment Data (Mineral & Metal Resources)
10. Segment Data (Mineral & Metal Resources) & Metal Information regarding “Profit & Loss Attributable to Mitsui from Major Investees” is on P. 38 -42 (bn JPY) Financials FY 3/25 FY 3/26 YoY Main factors COCF Iron ore and m etallurgical coal prices, d ividends from equity method 357.9 330.4 -27.5 [-
Slide 32: Segment Data (Energy)
10 . Segment Data (Energy) Information regarding “Profit & Loss Attributable to Mitsui from Major Investees” is on P. 38 -42 (bn JPY) Financials FY 3/25 FY 3/26 YoY Main factors COCF [- ] Absence of LNG dividends 363.4 262.0 -101.4 [＋] US gas prices Profit *1 173.5 164.2 -9.3 Gross profit 190.0 202.
Slide 33: Segment Data (Machinery & Infrastructure)
10 . Segment Data (Machinery & Infrastructure) Information regarding “Profit & Loss Attributable to Mitsui from Major Investees” is on P. 38 -42 (bn JPY) Financials FY 3/25 FY 3/26 YoY Main factors COCF 145.2 184.1 +38.9 [＋] Dividends from equity method investees, absence of taxes due to asset sales
Slide 34: Segment Data (Chemicals)
10 . Segment Data (Chemicals) Information regarding “Profit & Loss Attributable to Mitsui from Major Investees” is on P. 38 -42 (bn JPY) Financials FY 3/25 FY 3/26 YoY Main factors COCF 90.6 102.6 +12.0 [＋] Gain from reversal of provision for business outside Japan Profit *1 75.9 67.5 -8.4 Gross pro
Slide 35: Segment Data (Iron & Steel Products)
10 . Segment Data (Iron & Steel Products) Information regarding “Profit & Loss Attributable to Mitsui from Major Investees” is on P. 38 -42 (bn JPY) Financials FY 3/25 FY 3/26 YoY Main factors COCF 6.0 17.9 +11.9 [＋] Dividends from equity method investees, trading Profit *1 13.2 18.9 +5.7 Gross prof
Slide 36: Segment Data (Lifestyle)
10 . Segment Data (Lifestyle) Information regarding “Profit & Loss Attributable to Mitsui from Major Investees” is on P. 38 -42 (bn JPY) Financials FY 3/25 FY 3/26 YoY Main factors COCF *1 18.1 7.8 -10.3 Coffee trading, intersegment transaction with Others, Adjustment & [- ] Eliminations Profit *2 5
Slide 37: Segment Data (Innovation & Corporate Development)
10 . Segment Data (Innovation & Corporate Development) Information regarding “Profit & Loss Attributable to Mitsui from Major Investees” is on P. 38 -42 (bn JPY) Financials FY 3/25 FY 3/26 YoY Main factors COCF 27.0 46.4 +19.4 [＋] Commodity derivative trading Profit *1 87.3 59.0 -28.3 Gross profit [
Slide 38: Profit & Loss Attributable to Mitsui from Major Investees
11. Profit & Loss Attributable to Mitsui from Major Investees (bn JPY) Share of *8 FY March Entity Fiscal FY March 2026 Name Principal lines of business profit category *7 year -end 2025 *8 Change (％) Q1 -3 Q4 full -year full -year Iron ore mining operations in Australia*1 Investment in iron ore bus
Slide 39: Profit & Loss Attributable to Mitsui from Major Investees
11. Profit & Loss Attributable to Mitsui from Major Investees (bn JPY) Share of *8 FY March Entity Fiscal FY March 2026 Name Principal lines of business profit category *7 2025 *8 Change year -end (％) Q1 -3 Q4 full -year full -year Infrastructure Projects IPP businesses*1 Investment in power generat
Slide 40: Profit & Loss Attributable to Mitsui from Major Investees
11. Profit & Loss Attributable to Mitsui from Major Investees (bn JPY) Share of *8 FY March Entity Fiscal FY March 2026 Name Principal lines of business profit category *7 2025 *8 Change year -end (％) Q1 -3 Q4 full -year full -year Basic Materials MMTX Fairway Methanol business in the US 100 S Mar 5
Slide 41: Profit & Loss Attributable to Mitsui from Major Investees
11. Profit & Loss Attributable to Mitsui from Major Investees (bn JPY) Share of *8 FY March Entity Fiscal FY March 2026 Name Principal lines of business profit category *7 2025 *8 Change year -end (％) Q1 -3 Q4 full -year full -year Food Minh Phu Seafood Shrimp processing, export and sales 35.0 E Dec
Slide 42: Profit & Loss Attributable to Mitsui from Major Investees
11. Profit & Loss Attributable to Mitsui from Major Investees (bn JPY) Share of *8 FY March Entity Fiscal FY March 2026 Name Principal lines of business profit category *7 2025 *8 Change year -end (％) Q1 -3 Q4 full -year full -year IT & Communication MITSUI KNOWLEDGE INDUSTRY Comprehensive ICT servi
Slide 43: Operating Segment Information (FY March 2026)
12. Operating Segment Information (FY March 2026) FY March 2026 (from April 1, 2025 to March 31, 2026) (bn JPY) Mineral & Machinery & Item Metal Energy Energy Infrastructure Infrastructure Basic Performance Nutrition ＆ Chemicals Resources Energy I Energy II Solutions Projects Mobility I Mobility II
Slide 44: Operating Segment Information (FY March 2025)
12. Operating Segment Information (FY March 2025) FY March 2025 (from April 1, 2024 to March 31, 2025) (bn JPY) Mineral & Machinery & Item Metal Energy Energy Infrastructure Infrastructure Basic Performance Nutrition ＆ Chemicals Resources Energy I Energy II Solutions Projects Mobility I Mobility II
Slide 45: Revision of Operating Segments
13. Revision of Operating Segments Before March 31, 2026: 16 Business Units 7 Segments After April 1, 2026: 15 Business Units 7 Segments Mineral & Metal Resources Mineral & Metal Resources Business Unit Mineral & Metal Resources Mineral & Metal Resources Business Unit ▊ Energy Business Unit I Iron &
Slide 46: 360° business innovation. MITSUI & CO.
360° business innovation. MITSUIECO.
Mitsui & Co Ltd Ord — FY March 2026 Earnings Presentation on 6ix