Japan's Marubeni lifts full-year profit forecast by 5.9% to $3.5 billion
FILE PHOTO: The logo of Marubeni Corp is seen at the company headquarters in Tokyo, Japan, May 10, 2016. REUTERS/Toru Hanai/File Photo
TOKYO, Feb 4 : Japanese trading house Marubeni on Wednesday raised its net profit forecast for the fiscal year ending March 30 to 540 billion yen ($3.5 billion) from 510 billion yen, helped by stronger copper prices.
The guidance represents a 7.4 per cent increase from the 503 billion yen earned a year earlier.
Profit for the nine months through December 2025 was up 1.7 per cent at 432.3 billion yen versus the same period a year prior.
Underpinning the revision was stronger profit from the metals segment, driven by soaring copper prices, as well as solid earnings in the finance, leasing and real estate business.
The improved outlook also saw the company lift its annual dividend forecast by 7.5 yen to 107.5 yen per share, and announce a share buyback plan of up to 15 billion yen.
"We have decided to implement an additional dividend payout as the accumulation of net income and cash inflows is progressing steadily," Marubeni CEO Masayuki Omoto told a press conference.
He said the company had brought forward its target for achieving 10 trillion yen in market capitalisation to fiscal 2027 from fiscal 2030.
Buttressed by a rally in Tokyo equities, Marubeni's shares have more than doubled since the March end of the last fiscal year, lifting its market capitalisation to nearly 9 trillion yen by Wednesday.
($1 = 156.1200 yen)
