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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