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Market insights from Global X Japan
On November 4, the five major trading companies finished reporting their results for April-September 2026. Net profit rose year on year at all five, and four of them, all except Itochu, raised their net profit forecasts for the fiscal year ending March 2027.
Mitsubishi Corporation raised its full-year net profit forecast from 1.1 trillion JPY (approx. 7.0 billion USD) to 1.2 trillion JPY (approx. 7.6 billion USD), up 50% from the previous fiscal year. Its net profit for April-September was 619.6 billion JPY (approx. 3.9 billion USD), up 74% year on year. Mitsui & Co. raised its forecast by 130 billion JPY (approx. 828 million USD) to 1,050 billion JPY (approx. 6.7 billion USD), up 26%. Marubeni expects a record 630 billion JPY (approx. 4.0 billion USD), up 16%. Itochu’s net profit for April-September, at 580.5 billion JPY (approx. 3.7 billion USD), set a record for that period. Its full-year forecast is unchanged, but progress has already reached 61%.
Net Profit of the Five Major Trading Companies (FY26/03 and FY27/03E, in Billion JPY)
The upside reflects strength in resources. Mitsubishi Corporation benefited from higher copper prices and growth in its coking coal business, and its Canadian LNG production project, which has started full operations, is expected to turn profitable. Mitsui & Co. rebuilt its LNG trading routes while supply chains were shaken by the Middle East situation, and Marubeni benefited from metals and energy, each boosting results.
Our lineup includes an ETF that invests in general trading companies and natural resource-related companies: the Global X Japan Wholesale Trade & Resource Business ETF (609A), which listed on July 30.
Related ETFs from Global X Japan lineup
Global X Japan Top Performers of the Week
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