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Marubeni (8002) investor relations material

Marubeni Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary4 Feb, 2026

Executive summary

  • Net profit for Q1–Q3 FYE 3/2026 was ¥432.3bn, up 1.7% year-over-year, supported by a one-time real estate gain.

  • Revenue rose 7.9% year-over-year to ¥6,172.4bn, driven by growth in Metals & Mineral Resources and Food & Agri Business.

  • Operating profit declined 14.3% year-over-year to ¥190.6bn due to higher SG&A expenses and lower gross trading profit.

  • Full-year net profit forecast was raised to ¥540.0bn (+¥30.0bn), reflecting improved business performance and higher commodity prices.

  • Upward revisions reflect increased contributions from growth investments and a one-time valuation gain from real estate integration.

Financial highlights

  • Gross trading profit decreased by 1.2% to ¥858.8bn, mainly due to declines in Energy & Chemicals and Metals & Mineral Resources.

  • Basic earnings per share for the nine months was ¥262.33, up from ¥255.82 in the prior year.

  • Total assets increased to ¥10,011.3bn, and equity attributable to owners rose to ¥4,138.7bn.

  • Net interest-bearing debt increased to ¥2,182.9bn; net D/E ratio at 0.53x.

  • Free cash flow was positive at ¥7.7bn for the period.

Outlook and guidance

  • Full-year net profit forecast is ¥540.0bn, with adjusted net profit at ¥485.0bn.

  • Core operating cash flow forecast raised to ¥570.0bn.

  • Annual dividend forecast increased to ¥107.5 per share; share buyback program totals ¥55.0bn for FYE 3/2026.

  • Share repurchases of up to ¥15.0bn or 5 million shares are planned between February and June 2026.

  • Market cap target of over ¥10tn brought forward to FYE 3/2028.

Why did operating profit decline but net profit rise?
What is the rationale for the new share buyback?
What drives Metals & Mineral Resources forecast?
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Frequently asked questions

Marubeni Corporation is a major Japanese conglomerate engaged in a wide range of global business activities, including trading, investment, and project development. The company operates across multiple sectors such as energy, metals, food, chemicals, transportation, and infrastructure, providing goods and services through an extensive international network. Marubeni also invests in industries like agriculture, forest products, and ICT, as well as renewable energy projects, supporting sustainable growth initiatives. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.

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