|Bid||5,910.00 x 0|
|Ask||5,912.00 x 0|
|Day's Range||5,874.00 - 5,969.00|
|52 Week Range||3,740.00 - 5,969.00|
|Beta (5Y Monthly)||0.68|
|PE Ratio (TTM)||7.03|
|Earnings Date||Jul 31, 2023 - Aug 04, 2023|
|Forward Dividend & Yield||200.00 (3.49%)|
|Ex-Dividend Date||Sept 28, 2023|
|1y Target Est||5,759.20|
Japan's Nikkei closed at a 1-1/2-year high on Friday, led by gains in chip-related heavyweights, as investors cheered announcements of domestic firms' shareholder returns at the peak of the earnings season. Mitsubishi Corp and its peers this week flagged continued rewards to shareholders this financial year - either with hikes to dividends or stock buybacks or both.
Japan's Nikkei share average hit its highest in 1-1/2 years on Friday, led by gains in chip-related heavyweights, as investors cheered announcements of domestic firms' shareholder returns at the peak of the earnings season. The Nikkei rose to as high as 29,408.06, its highest since Nov. 2021, before ending the morning session up 0.80% at 29,359.43. A slew of Japanese firms have announced share buyback plans and more dividend payouts during the earnings season.
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Japanese trading house Mitsubishi Corp is looking to invest in nickel and lithium projects to meet growing demand for electric vehicle (EV) batteries, while boosting its copper output, the head of its metal operations said on Thursday. The move comes as global push by automakers to electrify their fleets has sparked a rush for stable supplies of lithium, nickel and copper and other critical minerals. "As global resource companies and others are looking for lithium and nickel, we are considering to invest in the two metals," Satoshi Koyama, Mitsubishi's mineral resources group CEO, told an analysts meeting.
Ammonia and hydrogen are at a core of developed nations' efforts, Japan included, to reach zero-carbon emissions towards the middle of the century, with investments and projects under consideration booming globally. RWE, Lotte and Mitsubishi have signed a joint study agreement for clean ammonia production and export project in Port of Corpus Christi in Texas, part of the alliance to develop green and blue ammonia supply chains in Asia, Europe and the United States, the Japanese trading company said in a statement.
Japan's top steelmaker Nippon Steel Corp, Mitsubishi Corp and Exxon Mobil Corp said on Thursday they will jointly study carbon capture and storage (CCS) and the establishment of CCS value chains in the Asia Pacific regions. Based on the Memorandum of Understanding (MoU) that they signed on Wednesday, the companies will conduct research on the capture of carbon dioxide (CO2) emissions from Nippon Steel's local steel plants and evaluate the necessary infrastructure development required, they said in a joint statement.
Mitsubishi Corp has agreed with Exxon Mobil Corp and Japan's biggest steelmaker Nippon Steel Corp to consider a carbon dioxide capture and storage (CCS) project, a spokesperson at the trading house said on Wednesday. The three companies signed a memorandum of understanding (MoU) on Wednesday to start discussions toward building value chains for overseas underground storage of CO2 emitted by Japanese steel plants, the spokesperson said. Nippon Steel is considering capturing CO2 emissions from its local steel mills for underground storage at facilities linked to Exxon in countries including Australia, Malaysia and Indonesia, the Nikkei business daily reported on Wednesday.
Mitsubishi Corp on Tuesday raised its full-year net profit forecast by 21% to a record 1.03 trillion yen ($7 billion), amid strength in metals and energy segments thanks to higher prices of coking coal and liquefied natural gas (LNG). Like global energy companies, Japanese trading houses have benefited from surging oil, gas and coal prices this year in the wake of Russia's invasion of Ukraine. Mitsubishi boosted its profit outlook for the year to March 31 to over 1 trillion yen from its May estimate of 850 billion yen.
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Q1 2023 Mitsubishi Corp Earnings Presentation
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Shares in Japan's Mitsui & Co and Mitsubishi Corp fell about 5% on Friday after Russia moved to create a new firm to take charge of the Sakhalin-2 oil and gas project in the country's far east. The new firm will take over all rights and obligations of Sakhalin Energy Investment Co, in which the two Japanese trading companies and Shell Plc hold just under a 50% stake, according to a decree signed by Russian President Vladimir Putin on Thursday. The 5-page decree, which comes amid Western sanctions on Moscow over the invasion of Ukraine, indicates that it is up to the Kremlin to decide whether foreign shareholders are to remain in the consortium.
President Vladimir Putin has raised the stakes in an economic war with the West and its allies with a decree that seizes full control of the Sakhalin-2 gas and oil project in Russia's far east, a move that could force out Shell and Japanese investors. The order, signed on Thursday, creates a new firm to take over all rights and obligations of Sakhalin Energy Investment Co, in which Shell and two Japanese trading companies Mitsui and Mitsubishi hold just under 50%. The five-page decree, which follows Western sanctions imposed on Moscow over its invasion of Ukraine, indicates the Kremlin will now decide whether the foreign partners can stay.
Shares in Japan's Mitsui & Co and Mitsubishi Corp fell about 5% on Friday after Russia moved to create a new firm to take charge of the Sakhalin-2 oil and gas project in the country's far east. The new firm will take over all rights and obligations of Sakhalin Energy Investment Co, in which the two Japanese companies and Shell Plc hold just under a 50% stake, according to a decree signed by Russian President Vladimir Putin on Thursday. Mitsui has a 12.5% stake in the project and Mitsubishi 10%, while Shell holds 27.5%, minus one share.