Japanese trading and investment major Mitsui & Co., Ltd. (MITSF.PK, MITSY.PK) reported Wednesday higher first-half profit, despite weak revenues. Further, the firm raised its profit outlook for fiscal year ending March 31, 2026.
In Japan, Mitsui & Co. shares were gaining around 4.1 percent to trade at 3,911.00 yen.
For the first half, profit attributable to owners of the parent was 423.73 billion yen, a growth of 2.9 percent from the previous year's 411.79 billion yen. Earnings per share were 147.29 yen, higher than 138.50 yen in the prior year.
Profit before income taxes grew 2.3 percent to 546.64 billion yen from 534.25 billion yen a year earlier.
Revenue for the period, meanwhile, dropped 7.8 percent to 6.76 trillion yen from last year's 7.33 trillion yen.
Looking ahead for the full year, Mitsui now expects profit attributable to owners of the parent to be 820 billion yen or 285.24 per basic share.
The company previously expected profit attributable of 770 billion yen or 267.90 per basic share.
Further, the firm announced a new repurchase program, targeting up to 200 billion yen of shares to be repurchased between November 6 and March 19, 2026.
The company continues to project full-year dividend for the year ending March 31, 2026 to be 115 yen per share, comprising interim dividend of 55 yen and year-end dividend of 60 yen. This is an increase of 15 yen from the previous year.
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