Mitsui & Co Ltd Ord (MITSF) Q1 2027 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, I am Makoto Tanaka, CFO. Thank you for joining us today. Firstly, we would like to express our deepest condolences to those who lost their lives in the earthquake in Kumamoto, and extend our heartfelt sympathies to all those affected by this disaster. At this point, no material impact on the business activities of the Mitsui & Co Group has been confirmed, However, we will continue to closely monitor the situation and assess any damage. We will also consider appropriate support measures and responses going forward. I will begin by giving a summary of the operating results from the first three months. I will then hand over to Masao Gurihara, General Manager of the Global Controller Division, who will speak on the details of the operating results. Let me begin with a summary of our financial results for the quarter. Core operating cash flow increased by ¥64.6 billion year-on-year to ¥280.9 billion, while profit increased by ¥102.5 billion year-on-year To 294.1 billion yen, both posted substantial growth. Profit reached a record high for Q1. Both COCF and profit are progressing at a pace well ahead of our business plan, driven by asset recycling and our middle game initiatives. In light of our strong performance and with the aim of improving capital efficiency and enhancing shareholder returns, we have decided on the share repurchase of 200 billion yen to be completed by the end of January 2027. To continuously enhance per share value, all shares acquired through this repurchase will be cancelled. While closely monitoring development in the Middle East, we will be revising our full-year earnings for gas at an appropriate time based on the high level of progress against our business plan and our forward outlook. This slide shows the progress of each segmen...