Mitsubishi Materials raised its forecast for the fiscal year ending March 2027 and released its first-quarter results at the same time. Higher metal prices and the weaker yen are believed to have boosted the forecast.
Mitsubishi Materials forecast operating profit of ¥130 billion for the fiscal year ending March 2027, representing 2.1 times the previous fiscal year. The forecast was raised to 3.6 times the previous projection, with higher prices for metals such as tungsten, copper and gold, along with the weaker yen, cited as factors.
The company also announced its first-quarter results, reporting operating profit of ¥32.994 billion. It posted a loss of ¥2.641 billion in the same period of the previous year.
Higher metal prices and foreign-exchange movements are believed to have contributed to the upward revision to the earnings outlook for the current fiscal year. This article reproduces content distributed by Fisco.
Follow-up reports are expected to focus on the extent to which the upward revision is achieved and quarterly earnings trends.