Reported Earnings • Aug 09
First quarter 2027 earnings released: EPS: JP¥294 (vs JP¥104 loss in 1Q 2026) First quarter 2027 results: EPS: JP¥294 (up from JP¥104 loss in 1Q 2026). Revenue: JP¥201.6b (up 19% from 1Q 2026). Net income: JP¥16.8b (up JP¥22.8b from 1Q 2026). Profit margin: 8.3% (up from net loss in 1Q 2026). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has increased by 94% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €182, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 10x in the Metals and Mining industry in Europe. Total returns to shareholders of 868% over the past three years. Declared Dividend • Jul 26
Final dividend of JP¥140 announced Shareholders will receive a dividend of JP¥140. Ex-date: 29th September 2026 Payment date: 9th December 2026 Dividend yield will be 82%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (15% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €166, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 11x in the Metals and Mining industry in Europe. Total returns to shareholders of 788% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €230, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 10x in the Metals and Mining industry in Europe. Total returns to shareholders of 1,114% over the past three years. New Risk • Jun 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 13% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €231, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 13x in the Metals and Mining industry in Europe. Total returns to shareholders of 1,097% over the past three years. Board Change • May 21
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Sachiko Kawanishi was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Duyuru • May 15
Mitsui Kinzoku Company, Limited, Annual General Meeting, Jun 26, 2026 Mitsui Kinzoku Company, Limited, Annual General Meeting, Jun 26, 2026. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €110, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 11x in the Metals and Mining industry in Europe. Total returns to shareholders of 446% over the past three years. Board Change • Dec 30
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Outside Director Toru Ishida was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Duyuru • Oct 04
K&O Energy Group Inc. (TSE:1663) agreed to acquire 33.40% stake in Mitsui Mineral Development Engineering Co., Ltd. from Mitsui Kinzoku Company, Limited (TSE:5706). K&O Energy Group Inc. (TSE:1663) agreed to acquire 33.40% stake in Mitsui Mineral Development Engineering Co., Ltd. from Mitsui Kinzoku Company, Limited (TSE:5706) on October 2, 2025. Duyuru • May 14
Hi-Lex Corporation (TSE:7279) entered into share transfer agreement to acquire Mitsui Kinzoku ACT Corporation from Mitsui Mining & Smelting Co., Ltd. (TSE:5706) for ¥11.3 billion. Hi-Lex Corporation (TSE:7279) entered into share transfer agreement to acquire Mitsui Kinzoku ACT Corporation from Mitsui Mining & Smelting Co., Ltd. (TSE:5706) for ¥11.3 billion on May 13, 2025. A cash consideration of ¥11.3 billion will be paid by Hi-Lex Corporation for 14,800,000 shares.
For the period ending March 31, 2025, Mitsui Kinzoku ACT Corporation reported total revenue of ¥95.83 billion, EBIT of ¥1.01 billion and net loss of ¥370 million. As of March 31, 2025, Mitsui Kinzoku ACT Corporation reported total assets of ¥78.21 billion and total common equity of ¥43.8 billion.
The transaction is subject to approval by Japanese and foreign competition law authorities and other conditions, such as approval or authorization by the relevant authorities as required by law. The expected completion of the transaction is from October 2025 to December 2025. Duyuru • May 13
Mitsui Mining & Smelting Co., Ltd., Annual General Meeting, Jun 27, 2025 Mitsui Mining & Smelting Co., Ltd., Annual General Meeting, Jun 27, 2025. Duyuru • May 08
Mitsui Mining & Smelting Co., Ltd. to Report Q3, 2026 Results on Feb 13, 2026 Mitsui Mining & Smelting Co., Ltd. announced that they will report Q3, 2026 results on Feb 13, 2026 Duyuru • Jan 23
Kinik Company (TWSE:1560) entered into a formal acquisition agreement to acquire Mitsui Grinding Wheel Co., Ltd. from Mitsui Mining & Smelting Co., Ltd. (TSE:5706) for ¥1.9 billion. Kinik Company (TWSE:1560) entered into a formal acquisition agreement to acquire Mitsui Grinding Wheel Co., Ltd. from Mitsui Mining & Smelting Co., Ltd. (TSE:5706) for ¥1.9 billion on January 22, 2025.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. Wu, Meng-da of Crowe (TW) CPAs/Taipei acted as the accountant for Kinik Company (TWSE:1560). Duyuru • Jan 21
CK SAN-ETSU Co., Ltd. (TSE:5757) agreed to acquire an additional 71.15% stake in Mitani Shindo Co., Ltd. from Mitsui Mining & Smelting Co., Ltd. (TSE:5706) for ¥2.6 billion. CK SAN-ETSU Co., Ltd. (TSE:5757) agreed to acquire an additional 71.15% stake in Mitani Shindo Co., Ltd. from Mitsui Mining & Smelting Co., Ltd. (TSE:5706) for ¥2.6 billion on January 21, 2025. Upon completion, CK SAN-ETSU Co., Ltd. will own 75.20% stake in Mitani Shindo Co., Ltd.
For the period ending March 31, 2024, Mitani Shindo Co., Ltd. reported total revenue of ¥11.86 billion, EBIT of ¥46 million, net income of ¥120 million, total assets of ¥7.11 billion and total common equity of ¥2.94 billion.
The expected completion of the transaction is April 1, 2025. Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: JP¥261 (vs JP¥97.96 in 2Q 2024) Second quarter 2025 results: EPS: JP¥261 (up from JP¥97.96 in 2Q 2024). Revenue: JP¥178.3b (up 8.3% from 2Q 2024). Net income: JP¥14.9b (up 167% from 2Q 2024). Profit margin: 8.4% (up from 3.4% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 2 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥75.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 11 December 2024. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.3%). New Risk • Sep 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.1% per year for the foreseeable future. Minor Risks High level of debt (50% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). New Risk • Aug 07
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 6.8% 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: Minor Risks High level of debt (59% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to €23.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Metals and Mining industry in Europe. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €27.02 per share. Buy Or Sell Opportunity • Jul 15
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 5.4% to €31.40. The fair value is estimated to be €25.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 57%. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings are also forecast to grow by 6.7% per annum over the same time period. Declared Dividend • Jul 11
Final dividend of JP¥75.00 announced Shareholders will receive a dividend of JP¥75.00. Ex-date: 27th September 2024 Payment date: 11th December 2024 Dividend yield will be 246%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jul 02
Now 19% overvalued after recent price rise Over the last 90 days, the stock has risen 5.8% to €29.40. The fair value is estimated to be €24.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 57%. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings are also forecast to grow by 6.3% per annum over the same time period. Buy Or Sell Opportunity • Jun 14
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 6.7% to €28.80. The fair value is estimated to be €23.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 57%. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings are also forecast to grow by 6.5% per annum over the same time period. Reported Earnings • May 16
Full year 2024 earnings released: EPS: JP¥455 (vs JP¥149 in FY 2023) Full year 2024 results: EPS: JP¥455 (up from JP¥149 in FY 2023). Revenue: JP¥646.7b (flat on FY 2023). Net income: JP¥26.0b (up 205% from FY 2023). Profit margin: 4.0% (up from 1.3% in FY 2023). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Duyuru • May 15
Mitsui Mining & Smelting Co., Ltd., Annual General Meeting, Jun 27, 2024 Mitsui Mining & Smelting Co., Ltd., Annual General Meeting, Jun 27, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥70.00 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 but is generating plenty of cash to support the dividend. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.3%). Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: JP¥123 (vs JP¥187 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥123 (up from JP¥187 loss in 3Q 2023). Revenue: JP¥164.4b (up 5.5% from 3Q 2023). Net income: JP¥7.04b (up JP¥17.7b from 3Q 2023). Profit margin: 4.3% (up from net loss in 3Q 2023). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: JP¥97.96 (vs JP¥109 in 2Q 2023) Second quarter 2024 results: EPS: JP¥97.96 (down from JP¥109 in 2Q 2023). Revenue: JP¥164.6b (down 7.2% from 2Q 2023). Net income: JP¥5.60b (down 9.9% from 2Q 2023). Profit margin: 3.4% (down from 3.5% in 2Q 2023). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: JP¥44.51 (vs JP¥380 in 1Q 2023) First quarter 2024 results: EPS: JP¥44.51 (down from JP¥380 in 1Q 2023). Revenue: JP¥147.5b (down 11% from 1Q 2023). Net income: JP¥2.54b (down 88% from 1Q 2023). Profit margin: 1.7% (down from 13% in 1Q 2023). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • May 12
Full year 2023 earnings released: EPS: JP¥149 (vs JP¥912 in FY 2022) Full year 2023 results: EPS: JP¥149 (down from JP¥912 in FY 2022). Revenue: JP¥652.0b (up 2.9% from FY 2022). Net income: JP¥8.51b (down 84% from FY 2022). Profit margin: 1.3% (down from 8.2% in FY 2022). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Duyuru • May 12
Mitsui Mining & Smelting Co., Ltd., Annual General Meeting, Jun 29, 2023 Mitsui Mining & Smelting Co., Ltd., Annual General Meeting, Jun 29, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥140 per share at 4.4% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 19% and this is well supported by cash flows. 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 10
Third quarter 2023 earnings released: JP¥187 loss per share (vs JP¥96.64 profit in 3Q 2022) Third quarter 2023 results: JP¥187 loss per share (down from JP¥96.64 profit in 3Q 2022). Revenue: JP¥155.9b (down 1.6% from 3Q 2022). Net loss: JP¥10.7b (down 294% from profit in 3Q 2022). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 1.2% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥109 (vs JP¥220 in 2Q 2022) Second quarter 2023 results: EPS: JP¥109 (down from JP¥220 in 2Q 2022). Revenue: JP¥177.3b (up 12% from 2Q 2022). Net income: JP¥6.21b (down 51% from 2Q 2022). Profit margin: 3.5% (down from 8.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.3% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). CEO, President & Representative Director Takeshi Nou is the most experienced director on the board, commencing their role in 2015. Independent Outside Director Keiko Takegawa was the last independent director to join the board, commencing their role in 2021. 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. Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: JP¥109 (vs JP¥220 in 2Q 2022) Second quarter 2023 results: EPS: JP¥109 (down from JP¥220 in 2Q 2022). Revenue: JP¥177.3b (up 12% from 2Q 2022). Net income: JP¥6.21b (down 51% from 2Q 2022). Profit margin: 3.5% (down from 8.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.2% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: JP¥380 (vs JP¥328 in 1Q 2022) First quarter 2023 results: EPS: JP¥380 (up from JP¥328 in 1Q 2022). Revenue: JP¥165.1b (up 12% from 1Q 2022). Net income: JP¥21.7b (up 16% from 1Q 2022). Profit margin: 13% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 11%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
Full year 2022 earnings released: EPS: JP¥912 (vs JP¥784 in FY 2021) Full year 2022 results: EPS: JP¥912 (up from JP¥784 in FY 2021). Revenue: JP¥633.3b (up 21% from FY 2021). Net income: JP¥52.1b (up 16% from FY 2021). Profit margin: 8.2% (down from 8.6% in FY 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 2.2%, compared to a 39% growth forecast for the mining industry in Germany. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Duyuru • May 13
Mitsui Mining & Smelting Co., Ltd., Annual General Meeting, Jun 29, 2022 Mitsui Mining & Smelting Co., Ltd., Annual General Meeting, Jun 29, 2022. Board Change • Apr 27
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). CEO, President & Representative Director Takeshi Nou is the most experienced director on the board, commencing their role in 2015. Independent Outside Director Keiko Takegawa was the last independent director to join the board, commencing their role in 2021. 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. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥100.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 7.2% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (8.5%). Reported Earnings • Feb 10
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥96.64 (up from JP¥172 loss in 3Q 2021). Revenue: JP¥158.4b (up 16% from 3Q 2021). Net income: JP¥5.52b (up JP¥15.3b from 3Q 2021). Profit margin: 3.5% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Over the next year, revenue is expected to shrink by 1.6% compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥220 (vs JP¥224 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: JP¥158.2b (up 20% from 2Q 2021). Net income: JP¥12.6b (down 1.5% from 2Q 2021). Profit margin: 8.0% (down from 9.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 16% share price gain to JP¥27.00, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Metals and Mining industry in Europe. Total returns to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €40.33 per share. Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS JP¥328 (vs JP¥194 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2022 results: Revenue: JP¥147.0b (up 59% from 1Q 2021). Net income: JP¥18.8b (up 69% from 1Q 2021). Profit margin: 13% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorated over the past week After last week's 16% share price decline to JP¥24.20, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €37.37 per share. Reported Earnings • May 14
Full year 2021 earnings released: EPS JP¥784 (vs JP¥27.42 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥522.9b (up 11% from FY 2020). Net income: JP¥44.8b (up JP¥43.2b from FY 2020). Profit margin: 8.6% (up from 0.3% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥70.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (4.8%). Is New 90 Day High Low • Mar 12
New 90-day low: €26.80 The company is down 1.0% from its price of €27.20 on 11 December 2020. The German market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 51% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €20.39 per share. Reported Earnings • Feb 12
Third quarter 2021 earnings released: JP¥172 loss per share (vs JP¥77.80 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: JP¥137.2b (up 17% from 3Q 2020). Net loss: JP¥9.82b (down 321% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations Revenue exceeded analyst estimates by 5.2%. Over the next year, revenue is forecast to grow 7.0%, compared to a 15% growth forecast for the Metals and Mining industry in Germany. Duyuru • Jan 25
Mitsui Mining & Smelting Co., Ltd. to Initiate Mass Production of HRDP®, a Special Glass Carrier for Next-Generation Semiconductor Packaging Devices Mitsui Mining & Smelting Co., Ltd. has been expanding the establishment of a system for mass production in collaboration with GEOMATEC Co., Ltd. Mitsui Mining & Smelting Co., Ltd. announce that mass production of HRDP® has started for a domestic multi-chip module manufacturer. In its January 2018 news release, Mitsui Kinzoku announced the development of HRDP®, a material for the creation of ultra-fine circuits using a glass carrier for the Fan Out panel level package, based on the RDL First method2. Is New 90 Day High Low • Jan 08
New 90-day high: €32.00 The company is up 61% from its price of €19.90 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 53% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €27.11 per share. Is New 90 Day High Low • Dec 05
New 90-day high: €24.40 The company is up 17% from its price of €20.80 on 04 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.63 per share. Is New 90 Day High Low • Nov 16
New 90-day high: €23.80 The company is up 20% from its price of €19.80 on 18 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €21.52 per share. Reported Earnings • Nov 11
Second quarter 2021 earnings released: EPS JP¥224 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥132.2b (up 8.2% from 2Q 2020). Net income: JP¥12.8b (up JP¥13.5b from 2Q 2020). Profit margin: 9.7% (up from net loss in 2Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Analyst Estimate Surprise Post Earnings • Nov 11
Revenue beats expectations Revenue exceeded analyst estimates by 4.0%. Over the next year, revenue is forecast to grow 8.0%, compared to a 8.5% growth forecast for the Metals and Mining industry in Germany. Duyuru • Nov 10
JX Nippon Mining & Metals Corporation entered into a basic agreement to acquire 48.5% stake in Caserones Copper Mine Project in Chile from Mitsui & Co., Ltd. (TSE:8031) and Mitsui Mining & Smelting Co., Ltd. (TSE:5706). JX Nippon Mining & Metals Corporation entered into a basic agreement to acquire 48.5% stake in Caserones Copper Mine Project in Chile from Mitsui & Co., Ltd. (TSE:8031) and Mitsui Mining & Smelting Co., Ltd. (TSE:5706) on November 9, 2020. Under the terms, Mitsui & Co will transfer 22.63% stake and Mitsui Mining & Smelting Co will transfer 25.87% stake in Caserones Copper Mine. Along with this transaction, Mitsui & Co's wholly owned subsidiary Mitsui Bussan Copper Investment & Co., Ltd. will be dissolved and liquidated. The mine's annual output of copper concentrates has stabilised at more than 100,000 tonnes after a series of ramp-up delays and cost-overruns forced the three companies to book ¥445.7 billion of impairment losses in total. This transaction will be effective after the fulfillment of relevant condition precedent, of which completion is expected by the end of March 2021. Is New 90 Day High Low • Oct 29
New 90-day high: €21.80 The company is up 19% from its price of €18.30 on 30 July 2020. The German market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.39 per share. 
