◆ Inside the Latest Quarter (April-June 2026)

Marubeni (8002) — the variant view

Marubeni's first quarter beat its pace on commodity prices and trading, and the company used the moment to loosen its own rule on borrowing for buybacks.

📈 8002 valuation, revenue & earnings — P/E, P/S, revenue, EPS →

Marubeni's April-June 2026 quarter was strong. Revenue rose 20.6% to ¥2,609,225 million, operating profit rose 54.7% to ¥132,125 million and net profit rose 20.7% to ¥186,432 million1. The company reached 32.1% of its ¥580.0 billion full-year forecast2 and left the forecast unchanged.

Net profit by segment, April-June (¥ bn)Metals & Mineral Res. 202642.0 (28.7)Food & Agri 202631.4 (35.5)Power & Infra 202629.3 (17.1)Energy & Chemicals 202625.8 (8.9)Aerospace & Mobility 202622.8 (11.5)Finance, Leasing & RE 202617.9 (30.9)Prior-year quarter in brackets; Marubeni results, April-June 2026
Resources and trading up sharply; food and North American finance down.

The segments moved in opposite directions. Metals & Mineral Resources rose to ¥42.0 billion from ¥28.7 billion on higher copper, coal and aluminium prices; Energy & Chemicals to ¥25.8 billion from ¥8.9 billion on petrochemical and North American gas trading; Power & Infrastructure Services to ¥29.3 billion from ¥17.1 billion, helped by a gain on selling an overseas power plant interest3. Food & Agri Business fell to ¥31.4 billion from ¥35.5 billion and Finance, Leasing & Real Estate to ¥17.9 billion from ¥30.9 billion4.

One-time items were about ¥9 billion, including a gain of about ¥13 billion on the power plant sale and a revaluation gain of about ¥6 billion on DASI5. Adjusted net profit was ¥177.0 billion6.

The capital decisions were the news. Marubeni raised the GC2027 investment limit from ¥1,700 billion to ¥1,950 billion and planned shareholder returns from ¥700 billion to ¥900 billion, announced a buyback of up to ¥100 billion, and said it does not necessarily seek to keep free cash flow positive after shareholder distributions and will use leverage flexibly7. Net interest-bearing debt rose to ¥2,050.5 billion and net D/E to 0.468.

The quarter says the resource and trading businesses are strong at current prices and the North American finance and food businesses are softer. The measure for the rest of the year is Finance, Leasing & Real Estate, which fell by two-fifths.

References
  1. ReportedRevenue rose 20.6% to ¥2,609,225 million, operating profit rose 54.7% to ¥132,125 million and net profit rose 20.7% to ¥186,432 million.
    Marubeni Corporation, Summary of Consolidated Financial Results for the three months ended June 30, 2026 (IFRS) - revenue, operating profit and net profit, segment results, progress against the full-year forecast, the balance sheet at 30 June 2026, and the revised GC2027 capital allocation and new share buyback. — April-June 2026 · publ. 3 August 2026 · source ↗
  2. ReportedThe company reached 32.1% of its ¥580.0 billion full-year forecast and left the forecast unchanged.
    Marubeni Corporation, Summary of Consolidated Financial Results for the three months ended June 30, 2026 (IFRS) - revenue, operating profit and net profit, segment results, progress against the full-year forecast, the balance sheet at 30 June 2026, and the revised GC2027 capital allocation and new share buyback. — April-June 2026 · publ. 3 August 2026 · source ↗
  3. ReportedMetals & Mineral Resources rose to ¥42.0 billion from ¥28.7 billion on higher copper, coal and aluminium prices; Energy & Chemicals to ¥25.8 billion from ¥8.9 billion on petrochemical and North American gas trading; Power & Infrastructure Services to ¥29.3 billion from ¥17.1 billion, helped by a gain on selling an overseas power plant interest.
    Marubeni Corporation, Summary of Consolidated Financial Results for the three months ended June 30, 2026 (IFRS) - revenue, operating profit and net profit, segment results, progress against the full-year forecast, the balance sheet at 30 June 2026, and the revised GC2027 capital allocation and new share buyback. — April-June 2026 · publ. 3 August 2026 · source ↗
  4. ReportedFood & Agri Business fell to ¥31.4 billion from ¥35.5 billion and Finance, Leasing & Real Estate to ¥17.9 billion from ¥30.9 billion.
    Marubeni Corporation, Summary of Consolidated Financial Results for the three months ended June 30, 2026 (IFRS) - revenue, operating profit and net profit, segment results, progress against the full-year forecast, the balance sheet at 30 June 2026, and the revised GC2027 capital allocation and new share buyback. — April-June 2026 · publ. 3 August 2026 · source ↗
  5. ReportedOne-time items were about ¥9 billion, including a gain of about ¥13 billion on the power plant sale and a revaluation gain of about ¥6 billion on DASI.
    Marubeni Corporation, IR presentation for the three months ended June 30, 2026 - adjusted net profit, core operating cash flow, one-time items, capital allocation, major group company results and the share buyback plan. — April-June 2026 · publ. 3 August 2026 · source ↗
  6. ReportedAdjusted net profit was ¥177.0 billion.
    Marubeni Corporation, IR presentation for the three months ended June 30, 2026 - adjusted net profit, core operating cash flow, one-time items, capital allocation, major group company results and the share buyback plan. — April-June 2026 · publ. 3 August 2026 · source ↗
  7. ReportedMarubeni raised the GC2027 investment limit from ¥1,700 billion to ¥1,950 billion and planned shareholder returns from ¥700 billion to ¥900 billion, announced a buyback of up to ¥100 billion, and said it does not necessarily seek to keep free cash flow positive after shareholder distributions and will use leverage flexibly.
    Marubeni Corporation, Summary of Consolidated Financial Results for the three months ended June 30, 2026 (IFRS) - revenue, operating profit and net profit, segment results, progress against the full-year forecast, the balance sheet at 30 June 2026, and the revised GC2027 capital allocation and new share buyback. — April-June 2026 · publ. 3 August 2026 · source ↗
  8. ReportedNet interest-bearing debt rose to ¥2,050.5 billion and net D/E to 0.46.
    Marubeni Corporation, Summary of Consolidated Financial Results for the three months ended June 30, 2026 (IFRS) - revenue, operating profit and net profit, segment results, progress against the full-year forecast, the balance sheet at 30 June 2026, and the revised GC2027 capital allocation and new share buyback. — April-June 2026 · publ. 3 August 2026 · source ↗
Sources
Generated September 24, 2026