Mitsui & Co Ltd Ord (MITSF) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. I am Tetsuya Shigeta, CFO. Thank you for joining us today. I will begin by giving a summary of the operating results for the first nine months and the full-year forecast. I will then hand over to Masao Kurihara, General Manager of the Global Controller Division, who will speak on the details of our operating results. Although the global economy saw a gradual pickup during the third quarter, uncertainties remain due to factors such as developments surrounding tariff policies in the U.S. and geopolitical risks. Even under such conditions, we continue to strengthen our earning space by thoroughly executing integrated risk management and improving the quality of our globally diversified business portfolio that spans a wide range of industries. Let me begin with a summary of operating results for the first nine months. Core operating cash flow of COCF was 748.8 billion yen and profit was 611.9 billion yen. There was solid progress in COCF at a pace exceeding the forecast that was revised upward in the second quarter. Reflecting this strong progress, we are revising up our full-year forecast for COCF once again by 50 billion yen to 950 billion yen. Despite recording a one-time loss in relation to J.A. Mitsui Leasing, profit has progressed steadily across the board against a forecast that was revised upward in the second quarter and we are maintaining this full-year forecast of 820 billion yen. I will now move on to the forecast for COCF. The mineral and metal resources, energy, machinery and infrastructure, and iron and steel product segments all had progress of above 80% against the previous forecast. Based on this, we have revised up the full-year forecast by ¥50 billion to ¥950 billion. Regarding profit, progress was steady overall, with strong results i...