Mitsui and Mitsubishi Profit Rises Due to Asset Sales and Weaker Yen

TOKYO (Reuters) – Japanese trading companies Mitsui and Mitsubishi reported increases in their first-quarter net profits, fueled by asset sales and a weaker yen, surpassing analysts’ forecasts.

Mitsui experienced a 9.2% rise in net profit, amounting to 276.1 billion yen, while Mitsubishi saw a 12% increase to 354.4 billion yen. This exceeded expectations in an LSEG poll, with Mitsui beating forecasts by 3% and Mitsubishi by 22%.

Mitsubishi credited its profit gain to the sale of two metallurgical coal mines, while Mitsui benefited from divesting machinery and infrastructure assets. Both companies also took advantage of a weaker yen due to their overseas assets.

Mitsui and Mitsubishi maintained their profit forecasts for the fiscal year ending March 2025 at 900 billion yen and 950 billion yen, respectively.