Reported Earnings • Aug 07
First quarter 2027 earnings released: EPS: JP¥48.28 (vs JP¥7.61 loss in 1Q 2026) First quarter 2027 results: EPS: JP¥48.28 (up from JP¥7.61 loss in 1Q 2026). Revenue: JP¥40.6b (up 6.4% from 1Q 2026). Net income: JP¥730.0m (up JP¥845.0m from 1Q 2026). Profit margin: 1.8% (up from net loss in 1Q 2026). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 26
Final dividend of JP¥52.00 announced Shareholders will receive a dividend of JP¥52.00. Ex-date: 29th September 2026 Payment date: 10th December 2026 Dividend yield will be 450%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 5.7% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Board Change • Jul 01
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Outside Director Yukio Takami was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annonce • Jun 26
Mitsubishi Steel Mfg. Co., Ltd. to Report Q1, 2027 Results on Aug 06, 2026 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q1, 2027 results on Aug 06, 2026 Board Change • May 21
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 3 experienced directors. 2 highly experienced directors. 2 independent directors (4 non-independent directors). Executive Chairman of the Board Motoyuki Sato is the most experienced director on the board, commencing their role in 2015. Independent Outside Director Atsushi Hagita was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Annonce • May 13
Mitsubishi Steel Mfg. Co., Ltd., Annual General Meeting, Jun 19, 2026 Mitsubishi Steel Mfg. Co., Ltd., Annual General Meeting, Jun 19, 2026. Annonce • May 09
Mitsubishi Steel Mfg. Co., Ltd. to Report Fiscal Year 2026 Results on May 13, 2026 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report fiscal year 2026 results on May 13, 2026 Annonce • Mar 31
JINSHENG MEXICO INDUSTRIAL, S. DE R.L. DE C.V. agreed to acquire MSSC MFG MEXICANA, S.A. DE C.V. from Mitsubishi Steel Mfg. Co., Ltd. (TSE:5632) for $6.6 million. JINSHENG MEXICO INDUSTRIAL, S. DE R.L. DE C.V. agreed to acquire MSSC MFG MEXICANA, S.A. DE C.V. from Mitsubishi Steel Mfg. Co., Ltd. (TSE:5632) for $6.6 million on March 30, 2026. A consideration of $6.6 million will be paid by JINSHENG MEXICO INDUSTRIAL, S. DE R.L. DE C.V. As part of consideration, $6.6 million is paid towards common equity of MSSC MFG MEXICANA, S.A. DE C.V. As the execution date of the share transfer will be set after the completion of the relevant procedures, a certain period of time
is expected to be required before the transfer is completed. Following the execution of the share transfer, MSSC MEXICO will be excluded from the scope of consolidation of the MSM Group, and the impact of consolidating MSSC MEXICO's losses is expected to be eliminated. The impact of this transaction on the consolidated results for the fiscal year ending March 2026 is expected to be minimal. Board Change • Dec 30
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 3 experienced directors. 2 highly experienced directors. 2 independent directors (4 non-independent directors). Executive Chairman of the Board Motoyuki Sato is the most experienced director on the board, commencing their role in 2015. Independent Outside Director Atsushi Hagita was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Declared Dividend • Dec 30
First half dividend of JP¥40.00 announced Shareholders will receive a dividend of JP¥40.00. Ex-date: 30th March 2026 Payment date: 23rd June 2026 Dividend yield will be 404%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 32% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annonce • Dec 18
Mitsubishi Steel Mfg. Co., Ltd. to Report Q3, 2026 Results on Feb 05, 2026 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q3, 2026 results on Feb 05, 2026 Annonce • Sep 21
Mitsubishi Steel Mfg. Co., Ltd. to Report Q2, 2026 Results on Nov 06, 2025 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q2, 2026 results on Nov 06, 2025 Annonce • Jun 25
Mitsubishi Steel Mfg. Co., Ltd. to Report Q1, 2026 Results on Aug 07, 2025 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q1, 2026 results on Aug 07, 2025 Annonce • May 14
Mitsubishi Steel Mfg. Co., Ltd., Annual General Meeting, Jun 20, 2025 Mitsubishi Steel Mfg. Co., Ltd., Annual General Meeting, Jun 20, 2025. Annonce • Mar 12
Mitsubishi Steel Mfg. Co., Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Annonce • Jan 03
Mitsubishi Steel Mfg. Co., Ltd. to Report Q3, 2025 Results on Feb 06, 2025 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q3, 2025 results on Feb 06, 2025 Reported Earnings • Nov 10
Second quarter 2025 earnings released: JP¥7.58 loss per share (vs JP¥58.09 profit in 2Q 2024) Second quarter 2025 results: JP¥7.58 loss per share (down from JP¥58.09 profit in 2Q 2024). Revenue: JP¥39.9b (down 12% from 2Q 2024). Net loss: JP¥115.0m (down 113% from profit in 2Q 2024). Annonce • Sep 21
Mitsubishi Steel Mfg. Co., Ltd. to Report Q2, 2025 Results on Nov 07, 2024 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q2, 2025 results on Nov 07, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥30.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (4.2%). Reported Earnings • Jun 26
Full year 2024 earnings released: JP¥63.45 loss per share (vs JP¥143 profit in FY 2023) Full year 2024 results: JP¥63.45 loss per share (down from JP¥143 profit in FY 2023). Revenue: JP¥169.9b (flat on FY 2023). Net loss: JP¥969.0m (down 144% from profit in FY 2023). Annonce • Jun 23
Mitsubishi Steel Mfg. Co., Ltd. to Report Q1, 2025 Results on Aug 08, 2024 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q1, 2025 results on Aug 08, 2024 Reported Earnings • May 16
Full year 2024 earnings released: JP¥63.45 loss per share (vs JP¥143 profit in FY 2023) Full year 2024 results: JP¥63.45 loss per share (down from JP¥143 profit in FY 2023). Revenue: JP¥169.9b (flat on FY 2023). Net loss: JP¥969.0m (down 144% from profit in FY 2023). Annonce • May 15
Mitsubishi Steel Mfg. Co., Ltd., Annual General Meeting, Jun 21, 2024 Mitsubishi Steel Mfg. Co., Ltd., Annual General Meeting, Jun 21, 2024. Annonce • Mar 23
Mitsubishi Steel Mfg. Co., Ltd. to Report Fiscal Year 2024 Results on May 13, 2024 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report fiscal year 2024 results on May 13, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (5.0%). In line with average of industry peers (4.3%). Reported Earnings • Feb 09
Third quarter 2024 earnings released: JP¥97.73 loss per share (vs JP¥7.95 loss in 3Q 2023) Third quarter 2024 results: JP¥97.73 loss per share (further deteriorated from JP¥7.95 loss in 3Q 2023). Revenue: JP¥39.3b (down 11% from 3Q 2023). Net loss: JP¥1.49b (loss widened JP¥1.37b from 3Q 2023). Annonce • Dec 27
Mitsubishi Steel Mfg. Co., Ltd. to Report Q3, 2024 Results on Feb 07, 2024 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q3, 2024 results on Feb 07, 2024 Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥58.09 (vs JP¥60.82 in 2Q 2023) Second quarter 2024 results: EPS: JP¥58.09 (down from JP¥60.82 in 2Q 2023). Revenue: JP¥45.3b (up 6.8% from 2Q 2023). Net income: JP¥889.0m (down 4.8% from 2Q 2023). Profit margin: 2.0% (down from 2.2% in 2Q 2023). The decrease in margin was driven by higher expenses. Annonce • Sep 22
Mitsubishi Steel Mfg. Co., Ltd. to Report Q2, 2024 Results on Nov 08, 2023 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q2, 2024 results on Nov 08, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥25.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (8.5%). Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €8.80, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 11x in the Metals and Mining industry in Germany. New Risk • Aug 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.6% average weekly change). Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: JP¥2.15 (vs JP¥27.48 in 1Q 2023) First quarter 2024 results: EPS: JP¥2.15 (down from JP¥27.48 in 1Q 2023). Revenue: JP¥41.3b (up 3.5% from 1Q 2023). Net income: JP¥33.0m (down 92% from 1Q 2023). Profit margin: 0.1% (down from 1.1% in 1Q 2023). The decrease in margin was driven by higher expenses. Annonce • Jun 24
Mitsubishi Steel Mfg. Co., Ltd. to Report Q1, 2024 Results on Aug 08, 2023 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q1, 2024 results on Aug 08, 2023 Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥143 (vs JP¥265 in FY 2022) Full year 2023 results: EPS: JP¥143 (down from JP¥265 in FY 2022). Revenue: JP¥170.5b (up 17% from FY 2022). Net income: JP¥2.19b (down 46% from FY 2022). Profit margin: 1.3% (down from 2.8% in FY 2022). Board Change • Mar 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 2 highly experienced directors. 2 independent directors (4 non-independent directors). Independent External Director Akira Hishikawa was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share at 4.4% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.6%). Reported Earnings • Feb 05
Third quarter 2023 earnings released: JP¥7.95 loss per share (vs JP¥73.00 profit in 3Q 2022) Third quarter 2023 results: JP¥7.95 loss per share (down from JP¥73.00 profit in 3Q 2022). Revenue: JP¥44.1b (up 15% from 3Q 2022). Net loss: JP¥122.0m (down 111% from profit in 3Q 2022). Annonce • Dec 26
Mitsubishi Steel Mfg. Co., Ltd. to Report Q3, 2023 Results on Feb 03, 2023 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q3, 2023 results on Feb 03, 2023 Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent External Director Akira Hishikawa was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 10
Second quarter 2023 earnings released: EPS: JP¥60.82 (vs JP¥67.07 loss in 2Q 2022) Second quarter 2023 results: EPS: JP¥60.82 (up from JP¥67.07 loss in 2Q 2022). Revenue: JP¥42.4b (up 24% from 2Q 2022). Net income: JP¥934.0m (up JP¥1.97b from 2Q 2022). Profit margin: 2.2% (up from net loss in 2Q 2022). Annonce • Sep 23
Mitsubishi Steel Mfg. Co., Ltd. to Report Q2, 2023 Results on Nov 08, 2022 Mitsubishi Steel Mfg. Co., Ltd. announced that they will report Q2, 2023 results on Nov 08, 2022 Board Change • Sep 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. Managing Executive Officer, GM of Business Planning Department & Materials Department and Director Jun Yamaguchi was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. 
