Mitsubishi Raises Fiscal 2026 Net Profit Forecast 9% to Record 1.2 Trillion Yen

Mitsubishi Corp raised its fiscal 2026 net profit forecast 9% to a record 1.2 trillion yen from its May estimate of 1.1 trillion yen, the company said on November 4, 2026, as higher energy and metals prices lifted first-half earnings. Channel NewsAsia reported the forecast alongside a 14% raise at Mitsui & Co.

Mitsubishi's Record Forecast and Buyback

Mitsubishi's April-September net profit rose 74% to 619.7 billion yen. The trading house also plans to buy back up to 6% of its outstanding shares for up to 1 trillion yen.

CEO Katsuya Nakanishi told reporters the company aims to achieve net profit of at least 1.2 trillion yen in fiscal 2027, even without a contribution from higher commodity prices. Mitsubishi's board met on November 4, 2026, and resolved to repurchase shares and cancel treasury stock, according to The future of trading.

Mitsui & Co raised its fiscal 2026 net profit forecast 14% to 1.05 trillion yen from its May estimate of 920 billion yen. CEO Kenichi Hori said Mitsui aims for net profit of more than 1.1 trillion yen and return on equity of over 12% in fiscal 2028. Mitsui's LNG handling volume, currently 12 million metric tons a year, is expected to increase by 3 million tons by 2030 through higher offtake volumes. "We intend to increase this volume further," Hori said, adding that total volumes, including spot transactions, could reach up to 20 million tons.

Mitsubishi's Deals Before the Forecast Raise

Mitsubishi announced the establishment and initial closing of Marunouchi Capital Fund III, managed by its subsidiary Marunouchi Capital, on October 30, 2026, The future of trading reported. On October 1, 2026, Mitsubishi announced a strategic investment in MidOcean Energy, a global LNG company managed by EIG, AETOSWire reported. Giga Metals agreed on September 28, 2026, to buy Mitsubishi's roughly 15% stake in the Turnagain nickel-cobalt project for nominal consideration, with closing expected on or around October 12, 2026, The future of trading reported.

Metals Earnings Across the Sector

Harum Energy's nine-month 2026 net profit more than tripled year-on-year to $167.4 million, driven by stronger nickel performance, The future of trading reported on October 31, 2026. Morgan Stanley raised China Hongqiao's target price to HK$29.70 from HK$28.60 with an Overweight rating in a Q4 outlook for China's traditional materials sector, Moomoo reported on October 21, 2026. Citi remained neutral on copper until more energy-market and tariff clarity emerges, The future of trading reported on October 23, 2026.

Mitsui's Carbon Storage Timeline

Mitsui signed a CCS joint venture with PETRONAS and TotalEnergies for offshore CO2 storage off Malaysia, targeting up to 5 million tons annually, AD HOC NEWS reported on November 2, 2026. The project, part of the Southern CCS Hub, aims for first injection by 2031, with financial terms undisclosed.