The following is a summary of the Mitsui & Co., Ltd. (MITSY) Q4 2024 Earnings Call Transcript:
Financial Performance:
Mitsui reported both core operating cash flow (COCF) and profit at the JPY 1 trillion level for FY March 2024.
The decrease in profits and COCF was mainly due to lower prices in the Energy segment and an increase in taxes associated with asset recycling.
Net interest-bearing debt increased marginally while shareholder equity increased significantly.
For FY March 2025, Mitsui anticipates a decrease in profit to JPY 900 billion due to the absence of one-time gain from the previous year, but plans to maintain COCF at JPY 1 trillion.
Mitsui plans to increase the full-year dividend per share to JPY 200 on a pre-share split basis.
Business Progress:
The company's performance was partly influenced by factors like foreign exchange and commodity prices.
With plans for growth investments totalling JPY 1.8 trillion, the company intends to strengthen key strategic initiatives over the next three years.
Mitsui plans to undergo a 2-for-1 share split and make new share repurchases up to JPY 200 billion, which enhances shareholder value.
Successful completion of the sale of their coal-fired power generation businesses in China and Paiton aligns with their transition strategy towards a decarbonized society.
For FY March 2025, Mitsui intends to focus on strengthening core businesses, reducing loss-making activities, and accelerating strategic recycling.
More details: Mitsui (ADR) IR
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