Mitsubishi's Q1 Net Profit Jumps 47% on Copper Price Gains

Mitsubishi Corporation's Q1 net profit surged by 47% to ¥298.5 billion ($1.9 billion) in the April-June 2026 quarter, exceeding market expectations. The company's metals and resources segment drove this growth, thanks to higher copper prices.

The yen's weakening also contributed to the increase in earnings. In the metals and resources segment, both copper and coking coal posted higher profits, while the LNG Canada project swung from a loss to profitability, further boosting earnings.

Mitsubishi Corporation has maintained its existing forecast of ¥1.1 trillion ($7.0 billion) in net profit for the full fiscal year ending March 2027, representing a 37% increase from the previous year. The company is focusing on strengthening investments in areas expected to see demand growth from the transition to a decarbonized society.