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MITSF - Mitsui & Co. Should See A Commodity Price Tailwind This Year
Mitsui & Co. Ltd.
Mitsui & Co. just raised its FY 2021 profit forecast by 50%, from 180 billion yen to 270 billion yen, largely driven by commodity price increases.
Based on the current commodity price outlook and the absence of asset write-offs, Mitsui could earn 418 billion yen for the fiscal year ending March 2022.
The stock looks attractive with a forward P/E below 8 and a 4.1% dividend yield that the company should have room to raise next year.