Mitsui Mining & Smelting announced an upward revision to its earnings forecast for the fiscal year ending March 2027, along with a stock split changing 1 share to 10 shares. The company cited increased sales volumes in its Functional Materials segment as the reason.
Mitsui Mining & Smelting raised its consolidated earnings forecast for the fiscal year ending March 2027. Net sales were raised from ¥830 billion to ¥850 billion, operating profit from ¥91 billion to ¥94 billion, and net profit from ¥75 billion to ¥80 billion. The company cited increased sales volumes for key products in the Functional Materials segment, including ultra-thin copper foil and electrolytic copper foil for AI servers.
The consolidated results for the first quarter, from April to June, announced at the same time showed net sales of ¥201.597 billion, up 19.3% year on year, operating profit of ¥21.027 billion, up 84.1%, and net profit of ¥16.824 billion, compared with a net loss in the same period of the previous year.
The company also announced a stock split based on 30 September, changing 1 share to 10 shares. The stated purpose is to lower the investment unit and broaden the investor base.