The firm’s largest shareholder is legendary US investor Warren Buffett’s Berkshire Hathaway, which has a 9.67 per cent stake, according to LSEG data
[TOKYO] Japanese trading house Mitsubishi Corp said on Thursday (Apr 3) it planned to invest at least four trillion yen (S$36.5 billion) over the next three years to drive growth and aimed to lift its net profit to 1.2 trillion yen in the 2027/28 financial year.
Unveiling its new three-year management strategy starting this month, Mitsubishi also said it would maintain its basic policy of progressive dividends and flexible share buybacks, including a plan to buy back up to one trillion yen of its own shares from Apr 4 to Mar 31, 2026.
Over the three-year period, Mitsubishi plans to allocate about one trillion yen to sustaining capital expenditure and more than three trillion yen to growth investments.
In a scenario where it had excess cash, the company would evaluate the allocation of those funds to investments or additional shareholder returns after considering its investment pipeline and other factors, it said.
In February, Mitsubishi, which took a 52.2 billion yen impairment charge on its domestic offshore wind projects in the nine-month period ended in December, forecast a net profit of 950 billion yen for the year that ended Mar 31.
For the year that began this month, Mitsubishi predicted its net profit would fall to 700 billion yen, but it would boost its dividend by 10 yen to 110 yen per share.
The company’s largest shareholder is legendary US investor Warren Buffett’s Berkshire Hathaway, which has a 9.67 per cent stake, according to LSEG data. REUTERS
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