MITSUI & CO., LTD., The Current Fiscal Year Net Income Revised Upward by 2%

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Fri Nov 1, 2024 2:00 pm JST Earnings

8031 MITSUI & CO., LTD. 【IFRS】

Earnings Report

MITSUI & CO., LTD. <8031> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 1st (14:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 9.7% from the same period last year to 411 billion yen.

However, the full-year consolidated net income has been revised upward by 2.2%, from the previous forecast of 900 billion yen to 920 billion yen (compared to 1.06 trillion yen in the previous period), and the declining rate is expected to decrease from 15.4% to 13.5%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 16.3% from the same period last year to 508 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income dropped to 135 billion yen, a 33.3% decrease compared to the same period last year.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	7,423,815	ー	687,807	539,104	169.9	49.3	Nov 1, 2022	IFRS
Apr - Sep, 2023	6,377,438	ー	593,876	456,261	150.7	45.6	Oct 31, 2023	IFRS
Apr - Sep, 2024	7,331,817	ー	534,249	411,787	138.6	ー	Nov 1, 2024	IFRS
YoY	+15.0%	－	-10.0%	-9.7%	-8.0%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	50	May 1, 2024	IFRS
Apr - Sep, 2024 Results	7,331,817	ー	534,249	411,787	138.6	50	Nov 1, 2024	IFRS
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	ー	ー	ー	900,000	309.4	100	May 1, 2024	IFRS
Mar, 2025 New	ー	ー	ー	920,000	316.2	100	Nov 1, 2024	IFRS
Revision Rate	－	－	－	+2.2%	+2.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	6,947,504	ー	708,517	607,423	201.5	42.50	May 1, 2024	IFRS
Oct - Mar, 2024 Guidance	ー	ー	ー	508,213	174.7	50	Nov 1, 2024	IFRS
YoY	－	－	－	-16.3%	-13.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	14,306,402	ー	1,395,295	1,130,630	360.9	70	May 2, 2023	IFRS
Mar, 2024	13,324,942	ー	1,302,393	1,063,684	352.8	85	May 1, 2024	IFRS
Mar, 2025 Guidance	ー	ー	ー	920,000	316.2	100	Nov 1, 2024	IFRS
YoY	－	－	－	-13.5%	-10.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,228,307	ー	282,062	203,411	67.2	0.0	Oct 31, 2023	IFRS
Oct - Dec, 2023	3,621,034	ー	339,661	270,146	89.4	0.0	Feb 2, 2024	IFRS
Jan - Mar, 2024	3,326,470	ー	368,856	337,277	111.9	0.0	May 1, 2024	IFRS
Apr - Jun, 2024	3,839,914	ー	347,686	276,110	92.4	0.0	Aug 1, 2024	IFRS
Jul - Sep, 2024	3,491,903	ー	186,563	135,677	45.7	0.0	Nov 1, 2024	IFRS
YoY	+8.2%	－	-33.9%	-33.3%	-32.0%