Mitsubishi Materials Corp.

Mitsubishi Materials has sharply raised its full-year net profit forecast for the fiscal year ending March 2027 to 140 billion yen, up 245.0% from the previous year, and returned to profit in the first quarter. First-quarter sales for the fiscal year ending March 2027 rose 38.4% year on year to 597 billion yen, operating profit was 32.9 billion yen, ordinary profit was 51.9 billion yen, and quarterly net profit attributable to owners of the parent was 51.2 billion yen, all swinging into the black from losses a year earlier. For the full year, the company raised its sales forecast to 2.4 trillion yen, operating profit forecast to 130 billion yen, and ordinary profit forecast to 180 billion yen. The company said higher prices for key metals such as copper, tungsten and gold, the weaker yen trend, increased dividends received from mines in its resources business, and expanding AI-related demand in its advanced products business contributed to the improvement.

Among individual announcements on August 6, Arisawa Manufacturing revised upward its consolidated earnings forecast for the fiscal year ending March 2027 and raised its annual dividend from the previously planned 98 yen to 110 yen. Nintendo reported consolidated operating profit of 142.596 billion yen for the first quarter of the fiscal year ending March 2027, a 2.5-fold increase year on year, driven by growth in game software sales. Hoshizaki announced a two-for-one stock split effective at the end of December. In addition, Kamei, Kohoku Kogyo, PILLAR, Union Tool, Neturen, and Mitsubishi Materials also revised their earnings plans upward, benefiting from expanding demand related to semiconductors and AI, as well as rising metal prices. Meanwhile, Leader Electronics and Japan Communications each reported a swing to a net loss and a sharp profit decline, respectively, in their first-quarter results.

Mitsubishi Materials has sharply raised its consolidated net profit forecast for the fiscal year ending March 2027 to 140 billion yen, up from the previous estimate of 49 billion yen. The upward revision is mainly due to rising metal prices, including tungsten and copper, and the yen's depreciation, and the new forecast significantly exceeds the average estimate of 61.6 billion yen from six analysts compiled by IBES. The dividend forecast was left unchanged.

Western Copper and Gold Corporation provided an update on its Casino Project in the Yukon. Mitsubishi Materials Corporation completed the acquisition of 1.2 million common shares through open market purchases, returning its ownership to approximately 5% and satisfying conditions for an extended investor rights agreement. The company submitted responses to supplementary information requests from the Yukon Environmental and Socio-economic Assessment Board on July 15, 2026, moving the environmental review forward. Additionally, the federal government named the Yukon-B.C. Grid Connect transmission project a priority on June 26, 2026, as part of Canada's National Electricity Strategy to double grid capacity by 2050.