⚠ Trading Profits Are VolatileLow threat
Mitsubishi Corporation (8058) — threat to the moat
Mitsubishi's resource trading had an unusually good year, and the company's own forecast assumes it will not repeat.
The resource trading business's contribution rose from ¥21.4 billion to ¥39.5 billion1. Trading profits depend on price volatility and the spreads it creates, and they reverse when markets calm.
Mitsubishi's own forecast for the Mineral Resources segment in the current year is ¥180.0 billion2, lower than the latest year's ¥215.2 billion on the restated basis3, which suggests the company does not expect the latest year's combination to repeat.
The first quarter of the current year shows the same volatility in the other direction. Mineral Resources earned ¥86.6 billion in April-June 2026, against ¥27.5 billion a year earlier4, almost half its full-year forecast in three months.
The measure is the segment's result against the ¥180.0 billion forecast.
- ReportedThe resource trading business's contribution rose from ¥21.4 billion to ¥39.5 billion.Mitsubishi Corporation, FY2025 results and FY2026 forecast presentation (1 May 2026) - net income by segment and of major subsidiaries and affiliates, with ownership, and the forecast by segment. — FY to March 2026 · publ. 1 May 2026 · source ↗
- ReportedMitsubishi's own forecast for the Mineral Resources segment in the current year is ¥180.0 billion, lower than the latest year's ¥215.2 billion on the restated basis, which suggests the company does not expect the latest year's combination to repeat.Mitsubishi Corporation, FY2025 results and FY2026 forecast presentation (1 May 2026) - net income by segment and of major subsidiaries and affiliates, with ownership, and the forecast by segment. — FY to March 2026 · publ. 1 May 2026 · source ↗
- ReportedMitsubishi's own forecast for the Mineral Resources segment in the current year is ¥180.0 billion, lower than the latest year's ¥215.2 billion on the restated basis, which suggests the company does not expect the latest year's combination to repeat.Mitsubishi Corporation, FY2025 results and FY2026 forecast presentation (1 May 2026) - net income by segment and of major subsidiaries and affiliates, with ownership, and the forecast by segment. — FY to March 2026 · publ. 1 May 2026 · source ↗
- ReportedMineral Resources earned ¥86.6 billion in April-June 2026, against ¥27.5 billion a year earlier, almost half its full-year forecast in three months.Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗