Mitsui & Co (8031) AI Stock Analysis

• Market Cap: ¥16.76T
• Dividend Yield: 2.28%
• Average Volume (3M): 5.52M
• Price to Earnings (P/E): 19.6
• Beta (1Y): 1.32
• Revenue Growth: -1.33%
• EPS Growth: -7.40%
• Country: JP
• Employees: 53,602
• Sector: Industrials
• Sector Strength: 72
• Industry: Conglomerates
• EPS (TTM): 65.67
• Shares Outstanding: 2,905,741,500
• 10 Day Avg. Volume: 5,141,610
• 30 Day Avg. Volume: 5,522,330
• PEG Ratio: -0.70
• Price to Book (P/B): 1.09
• Price to Sales (P/S): 0.56
• P/FCF Ratio: 12.24
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 295.05
• Revenue Forecast (FY): ¥14.42T

• Rating: 67 Neutral
• Price Target: ¥6,371.00 ▲(32.76% Upside)
• Action: Downgraded Date: 02/05/26
• Date: Action: Downgraded 02/05/26

The score is driven primarily by mixed financial performance—solid profitability and improving leverage, but a steep TTM revenue drop and negative free cash flow. Technicals are a major offset with a strong, broad-based uptrend and positive momentum. Valuation is broadly reasonable with a moderate dividend yield but not compellingly cheap.

Positive Factors

Diversified business model

Mitsui's broad sōgō shōsha model and multi-industry footprint provide durable revenue diversification and cross-selling opportunities. Combining trading, project development, financing and operating assets reduces dependence on any single commodity or market, smoothing earnings across cycles.

Solid profitability and returns

Mid-to-high single-digit margins and low-teens ROE indicate persistent earnings power for a conglomerate. This level of profitability supports reinvestment and dividend capacity and reflects ability to extract returns from both trading spreads and operating investments over multiple cycles.

Improving leverage profile

A lower debt-to-equity ratio boosts financial flexibility and lowers solvency risk, enabling Mitsui to finance projects, absorb commodity shocks, and pursue investments without over-reliance on external debt. Improved leverage is a durable structural strength for capital-intensive deals.

Negative Factors

Sharp revenue decline

A near-40% TTM revenue drop materially reduces the company's operating scale and increases reliance on one-off gains or specific asset performance. Sustained top-line contraction would pressure affiliate earnings, reduce economies of scale in trading, and hurt long-term cash generation.

Negative free cash flow

Material negative FCF undermines internal funding for capex, dividends, and debt reduction. If persistent, it forces greater external financing or asset disposals, raising refinancing and execution risk for long-dated projects and weakening the company's ability to fund growth from operations.

Rising absolute debt amid weaker cash conversion

Even with improved debt-to-equity, rising absolute debt paired with deteriorating cash conversion increases liquidity and interest-rate sensitivity. This combination can constrain capital allocation, elevate refinancing risk, and limit strategic optionality during prolonged industry weakness.

Mitsui & Co Business Overview & Revenue Model

Company Description

Mitsui & Co., Ltd. operates as a general trading company worldwide. The company engages in the manufacture, export, and import of iron and steel products; automotive components; operation of steel processing service centers; trading of automotive, electrical, special, and stainless steel; manufacture, repair, and fabrication of wind turbine towers and flanges; gas distribution businesses; and coal mining, power generation, ferrous alloy, infrastructure maintenance, and water pumping activities. It also explores, develops, and produces oil, natural gas, and LNG; trades in petroleum products, crude oil, coal, uranium, and LNG; offers FPSO/FSO, fright car, truck, and locomotive leasing services; sells electric power facilities; and develops railway and transportation infrastructures. The company engages in logistics businesses; wholesale, retail, rental, and finance of construction and mining equipment; multimodal transportation, warehousing, and rolling stock leasing; sale, purchase, and leasing of aircraft and aero engines; leasing and financing activities; and development, process, and marketing of underground resources, and recycling of surface resources. It also provides electric-arc-furnace, construction materials processing, construction flat-rolled steel, shapes, bars, wire rods, and steel structure materials; methanol, ammonia, chlor-alkali, industrial, gas, and basic chemicals; salt; performance, advanced, specialty, and living, and environmental materials; agrochemicals and fertilizers, and animal and human nutrition products; refined sugar, oils and fats, proteins, grains, and food and beverage products; contract food services; and healthcare products. The company offers mobile communications; commodity derivative trading; venture investment and asset management services; real estate development, management, leasing, and brokerage services; and ship charter operation services. Mitsui & Co., Ltd. was incorporated in 1947 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Mitsui & Co. generates revenue through multiple key streams, primarily by acting as an intermediary in the trade of goods and services. This includes importing and exporting products across sectors such as chemicals, metals, and food. The company also engages in investment activities, including equity investments in various industries and joint ventures, which provide additional income through dividends and profit sharing. Mitsui's partnerships with local and international companies enhance its market reach and operational capabilities, allowing it to capitalize on emerging market opportunities. Furthermore, the company participates in project financing and development, particularly in infrastructure, energy, and resource extraction, contributing to its overall earnings through long-term contracts and service fees.

Mitsui & Co Financial Statement Overview

Summary

Profitability and returns are solid overall (TTM net margin ~6.1%, ROE ~11.9%) and leverage has improved (debt-to-equity down to ~0.69 TTM). However, the latest TTM shows a sharp revenue decline (~-38.6%) and, most importantly, free cash flow has turned negative (~-¥371B), making recent cash generation the key weakness.

Income Statement

Profitability is solid for a conglomerate, with net margins generally in the mid-to-high single digits (TTM (Trailing-Twelve-Months) ~6.1% vs. ~7.9% in FY2024) and healthy returns implied by stable net income levels. However, the growth profile has turned volatile: revenue declined sharply in TTM (Trailing-Twelve-Months) (about -38.6% growth) after a modest increase in FY2025, and margins have compressed from FY2023–FY2024 peaks. Overall: resilient earnings power, but weaker top-line momentum and some profitability pressure.

Balance Sheet

Leverage looks manageable: debt-to-equity has improved versus earlier years (about 1.04 in FY2021 down to ~0.69 in TTM (Trailing-Twelve-Months)), supported by a larger equity base. Return on equity remains steady around the low-teens in FY2025/TTM (roughly ~11.9%), though down from stronger FY2022–FY2024 levels. The main watch item is absolute debt rising in TTM (Trailing-Twelve-Months) versus FY2025 alongside higher assets, which can reduce flexibility if profitability weakens further.

Cash Flow

Cash generation has deteriorated in the most recent period. While operating cash flow is positive in TTM (Trailing-Twelve-Months), free cash flow turned negative (about -¥371B) and fell sharply versus the prior year, with free cash flow also running below net income (TTM (Trailing-Twelve-Months) free cash flow to net income is negative). This contrasts with FY2022–FY2025, where free cash flow was consistently positive and covered a meaningful portion of earnings. Overall: recent cash conversion is a clear weak spot and suggests heavier investment/working-capital drag or less favorable timing.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	14.04T	14.66T	13.32T	14.31T	11.76T	8.01T
Gross Profit	1.31T	1.29T	1.32T	1.40T	1.14T	811.47B
EBITDA	1.08T	1.65T	1.28T	912.70B	801.22B	411.13B
Net Income	860.12B	900.34B	1.06T	1.13T	914.72B	335.46B
Balance Sheet
Total Assets	19.90T	16.81T	16.90T	15.38T	14.92T	12.52T
Cash, Cash Equivalents and Short-Term Investments	858.00B	979.75B	902.72B	1.40T	1.17T	1.10T
Total Debt	5.81T	5.28T	5.17T	5.40T	5.19T	5.04T
Total Liabilities	11.23T	9.05T	9.13T	8.82T	9.13T	7.69T
Stockholders Equity	8.43T	7.55T	7.54T	6.37T	5.61T	4.57T
Cash Flow
Free Cash Flow	-371.35B	671.37B	569.65B	819.47B	621.37B	557.01B
Operating Cash Flow	724.09B	1.02T	864.42B	1.05T	806.90B	772.70B
Investing Cash Flow	-1.11T	-161.99B	-427.55B	-178.34B	-181.19B	-322.47B
Financing Cash Flow	274.60B	-749.60B	-1.01T	-634.68B	-614.33B	-486.96B

Mitsui & Co Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4799.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8031, the sentiment is Positive. The current price of 4799 is below the 20-day moving average (MA) of 5469.85, below the 50-day MA of 5103.40, and above the 200-day MA of 3860.13, indicating a bullish trend. The MACD of 185.29 indicates Negative momentum. The RSI at 70.25 is Negative, neither overbought nor oversold. The STOCH value of 77.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8031.

Mitsui & Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8002	74 Outperform	¥10.06T	19.43	15.34%	2.29%	9.62%	25.71%
8001	71 Outperform	¥17.66T	17.62	15.80%	2.11%	0.93%	15.80%
8015	70 Outperform	¥7.41T	19.85	13.49%	2.10%	5.32%	9.73%
8053	69 Neutral	¥8.06T	14.51	12.86%	2.48%	3.19%	72.26%
8058	68 Neutral	¥20.05T	27.71	7.39%	2.94%	-7.54%	-35.70%
8031	67 Neutral	¥16.76T	19.63	11.47%	2.28%	-1.33%	-7.40%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Mitsui & Co Corporate Events

Mitsui Advances Large-Scale Share Buyback, Nears Program Cap

Mitsui & Co. has reported progress on the share repurchase program authorized by its board in November 2025, disclosing that it bought back 8,001,900 common shares in February 2026 at a total cost of about ¥43.7 billion. These purchases, executed via the Tokyo Stock Exchange, indicate a continued commitment to returning capital to shareholders and optimizing its equity base.

Cumulatively, from November 6, 2025 through February 28, 2026, Mitsui has repurchased 35,367,300 shares for roughly ¥165.9 billion under the current authorization, which allows for repurchases of up to 80 million shares or ¥200 billion through March 19, 2026. The pace of buybacks suggests Mitsui is well advanced toward the ceiling of the program, supporting earnings per share and signaling management confidence to investors while potentially tightening the stock’s free float.

The most recent analyst rating on (JP:8031) stock is a Hold with a Yen6193.00 price target. To see the full list of analyst forecasts on Mitsui & Co stock, see the JP:8031 Stock Forecast page.

Mitsui to Wind Down U.S. Chemicals Subsidiary After JV Review

Mitsui & Co. has decided to dissolve and liquidate its wholly owned U.S. chemicals subsidiary MBWA Investment LLC, a Delaware-based entity established in 2022 to procure ethylene dichloride and caustic soda and to hold a 49% stake in Blue Water Alliance JV LLP with Olin Corporation. The move follows a joint review with Olin that concluded with a decision to wind down the Blue Water Alliance joint venture itself, prompting the closure of MBWA, which has recorded consecutive losses since inception.

Mitsui said the dissolution and liquidation of both MBWA and the Blue Water Alliance venture will proceed after obtaining necessary regulatory approvals and completing required procedures. The company expects any losses or impact on its consolidated financial results for the fiscal year ending March 2026 to be minor, suggesting a limited financial and operational effect while marking a strategic pullback from this specific U.S. chlor-alkali-related investment platform.

The most recent analyst rating on (JP:8031) stock is a Hold with a Yen6175.00 price target. To see the full list of analyst forecasts on Mitsui & Co stock, see the JP:8031 Stock Forecast page.

Mitsui & Co. Nine-Month Profit Slips but Dividend Payout Set to Rise

Mitsui & Co. reported a 5.7% year-on-year decline in revenue to ¥10.36 trillion and a 6.2% drop in profit attributable to owners of the parent to ¥611.95 billion for the nine months ended December 31, 2025, with basic earnings per share easing to ¥213.08 following a prior-year share split. Despite the softer earnings and a slight decline in equity ratio to 42.3%, total assets and total equity increased, the company maintained its full-year profit forecast of ¥820 billion, and it plans to raise annual dividends to ¥115 per share for FY March 2026, signaling continued commitment to shareholder returns while navigating a more challenging earnings environment.

The most recent analyst rating on (JP:8031) stock is a Buy with a Yen5639.00 price target. To see the full list of analyst forecasts on Mitsui & Co stock, see the JP:8031 Stock Forecast page.

Mitsui Advances Large-Scale Share Buyback, Exceeding ¥120 Billion in Purchases

Mitsui & Co. has reported progress on its ongoing share repurchase program authorized by its board in November 2025. In January 2026, the company bought back 8,998,100 shares of its common stock for approximately ¥44.9 billion, bringing total repurchases since November 6, 2025 to 27,365,400 shares at a cumulative cost of about ¥122.3 billion. The buyback, executed via auction transactions on the Tokyo Stock Exchange, is part of a broader authorization allowing Mitsui to repurchase up to 80 million shares or ¥200 billion by March 19, 2026, signaling continued efforts to enhance shareholder returns and optimize its capital structure.

The most recent analyst rating on (JP:8031) stock is a Buy with a Yen5639.00 price target. To see the full list of analyst forecasts on Mitsui & Co stock, see the JP:8031 Stock Forecast page.

Mitsui Corrects Error in Japanese Nine-Month IFRS Results, English Version Unaffected

Mitsui & Co., Ltd. has issued a correction to an error found in the Japanese version of its consolidated financial results for the nine-month period ended December 31, 2024, prepared under IFRS and originally released on February 4, 2025. The company clarified that the correction is limited to the Japanese disclosure and does not affect the English version, suggesting that international investors relying on the English materials are unaffected, while the move underscores Mitsui’s effort to maintain accuracy and transparency in its domestic financial reporting.

The most recent analyst rating on (JP:8031) stock is a Buy with a Yen5660.00 price target. To see the full list of analyst forecasts on Mitsui & Co stock, see the JP:8031 Stock Forecast page.

Mitsui to Sell Oman Onshore Oil and Gas Interests to Kistos for $148 Million

Mitsui & Co. has agreed to sell all of its onshore oil and gas interests in Oman’s Block 3&4 and Block 9, held via wholly owned subsidiary Mitsui E&P Middle East B.V., to London-based Kistos Energy Middle East Limited for USD 148 million as part of a broader portfolio reconfiguration. The divestment, scheduled for completion by the fiscal year ending March 2026 subject to regulatory approvals, will generate a profit already factored into Mitsui’s earnings forecast and reflects the group’s strategy of reshaping its upstream energy portfolio while maintaining energy as a core business domain and reinforcing its financial base.

The most recent analyst rating on (JP:8031) stock is a Hold with a Yen5428.00 price target. To see the full list of analyst forecasts on Mitsui & Co stock, see the JP:8031 Stock Forecast page.

Mitsui & Co. Announces Wide-Ranging 2026 Leadership and Governance Reshuffle

Mitsui & Co. has announced a broad reorganization of its top management and governance structure, including promotions and new appointments of executive officers, changes in their responsibilities, and the retirement of certain executives effective March 31 and April 1, 2026. The company will also implement changes to its board of directors and Audit & Supervisory Board, with new and retiring members to be confirmed at the June 17, 2026 shareholders’ meeting, alongside adjustments to representative directors, executive committee membership, and advisory committee composition, signaling an extensive leadership refresh that may influence its strategic direction and oversight framework.

The most recent analyst rating on (JP:8031) stock is a Buy with a Yen4766.00 price target. To see the full list of analyst forecasts on Mitsui & Co stock, see the JP:8031 Stock Forecast page.

Mitsui & Co. Details Progress on ¥200 Billion Share Buyback Program

Mitsui & Co. has reported progress on its ongoing share repurchase program authorized by its board in November 2025, purchasing 9,307,100 shares of common stock in December 2025 at a total cost of approximately ¥40.7 billion. Cumulatively, from November 6 through December 31, 2025, the company has bought back 18,367,300 shares for about ¥77.3 billion, still well below the program’s ceiling of up to 80 million shares and ¥200 billion to be executed by March 19, 2026 via auction market purchases on the Tokyo Stock Exchange, signaling continued active capital management and potential support for shareholder returns.

The most recent analyst rating on (JP:8031) stock is a Buy with a Yen4853.00 price target. To see the full list of analyst forecasts on Mitsui & Co stock, see the JP:8031 Stock Forecast page.