Earnings quality
Compare earnings and operating cash flow for earnings quality.
Mitsui & Co., Ltd.
Ticker 8031 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-12 · Period end 2026-03-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
equity ratio is 42.1%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
Equity ratio42.1%
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
三井物産株式会社 is a Japanese listed company. Its reportable segments include Innovation And Corporate Development, Lifestyle, Energy, Chemicals.
- Innovation And Corporate Development
- Lifestyle
- Energy
- Chemicals
- Machinery And Infrastructure
- Iron And Steel Products
- Mineral And Metal Resources
- Operating Segments Not Included In
Segments Innovation And Corporate Development · Lifestyle · Energy · Chemicals · Machinery And Infrastructure · Iron And Steel Products
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | — | — |
| Cost of sales* | — | — |
| Gross profit | ¥1.3T | ¥1.3T |
| Operating profit (loss) | — | — |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥213.7B | ¥222.7B |
| Profit (loss) | ¥921.6B | ¥864.3B |
| Profit (loss) attributable to owners | ¥900.3B | ¥834.0B |
| Basic EPS (¥) | 306.73 | 291.12 |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥977.4B | ¥982.7B |
| Current assets | ¥5.7T | ¥7.1T |
| Non-current assets | ¥11.1T | ¥13.8T |
| Total assets | ¥16.8T | ¥20.8T |
| Short-term borrowings | — | — |
| Current liabilities | ¥3.7T | ¥5.0T |
| Non-current liabilities* | ¥5.4T | ¥6.8T |
| Total liabilities | ¥9.0T | ¥11.8T |
| Equity attributable to owners | ¥7.5T | ¥8.8T |
| Total equity | ¥7.8T | ¥9.0T |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥1.0T | ¥952.9B |
| Cash flows from investing activities | -¥162.0B | -¥1.0T |
| Cash flows from financing activities | -¥749.6B | ¥26.9B |
| Net increase (decrease) in cash | ¥79.2B | ¥5.4B |
| Cash at end of period | ¥977.4B | ¥982.7B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥11.8T | ¥14.3T | ¥13.3T | ¥14.7T | ¥14.0T | |
| Profit to owners | ¥914.7B | ¥1.1T | ¥1.1T | ¥900.3B | ¥834.0B | |
| Total assets | ¥14.9T | ¥15.4T | ¥16.9T | ¥16.8T | ¥20.8T | |
| Cash & equivalents | ¥1.1T | ¥1.4T | ¥898.2B | ¥977.4B | ¥982.7B | |
| Owners’ equity | ¥5.6T | ¥6.4T | ¥7.5T | ¥7.5T | ¥8.8T |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from — to — (—), so the top line did not break. Gross profit only slipped from ¥1.3T to ¥1.3T, while operating profit swung from — to — — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥952.9B (prior ¥1.0T), and cash on the balance sheet rose to ¥982.7B from ¥977.4B. When profits collapse but operating cash stays positive, read the notes for impairments and other non-cash charges before assuming the business stopped generating cash.
The balance sheet got heavier on leverage. Total liabilities rose to ¥11.8T while owners’ equity fell to ¥8.8T. ROE moved from 11.9% to 10.2%, and the equity ratio from 44.9% to 42.1%. Employee count is 55,463 vs 56,400 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 44.9% to 42.1%; the balance sheet absorbed a heavy loss year.
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Source: EDINET S100YAVT
(三井物産株式会社), period end 2026-03-31.