Major trading companies have a “big return festival” with dividend increases and share buybacks! Mr. Buffett is also “satisfied,” and can he aim for higher light and dark prices due to resource dependency? [Summary of financial results of the five major trading companies]

The consolidated financial results for the fiscal year ending 2014/3 of the five major trading companiesDecline in resource pricesDue to the effects of4 companies reduced profitsIt became. About the fiscal year ending 25/3Non-resource businessIs strong $ITOCHU (8001.JP)$While 3 companies, etc. anticipate an increase in profit, $Mitsubishi (8058.JP)$etc., 2 companies predicted a decline in profit,Light and darkhas split. However, company-wideActive stance on shareholder returnsIt has rather strengthened, and the total return amount combined with dividends from the five companies and stock buybacks has risen to a record high of 1.9 trillion yen. There is also a possibility that investment by activist funds had an impact in part.

A US investment company that holds approximately 9% of the issued shares of 5 companies $Berkshire Hathaway-A (BRK.A.US)$Warren Buffett, a famous investor, talked about investing in Japanese trading companies at the company's annual general shareholders' meeting on the 4th of this month”Very satisfied” (Jiji Press) said. Previously, he suggested holding up to 9.9%,Room for additional investmentThere's still more left. Which trading companies have room for higher prices? Of the announcements made by each companypoints、Current stock pricewithRatings that have received financial resultsI confirmed it.

Disappointing sales due to a weak outlook for the fiscal year ending 25/3. is it exciting?
◆ $Mitsubishi (8058.JP)$
・In the fiscal year ended March 31, coking coal prices were poor, and consolidated net profit18.4% reduction964 billion yen.
・Consolidated net profit for the fiscal year ending 25/3950 billion yen, down 1.5% from the previous fiscal yearoutlook. Bloomberg MarketIt fell short of the forecast of 1.80 trillion yen.
・The annual dividend forecast for the current fiscal year is per shareDividend increased by 30 yen from the previous fiscal year. Progressive dividends are maintained.
・10-day closing price3385 yenAverage target stock prices for 11 analysts since3572.73 yenuntil5.6% room for growthThere is. What is the target stock price range2800 to 4500 yen.
・What is the most recent dividend yield before tax2.95%.

Resource price declines resonate, but stock buybacks and stock splits are good news
◆ $Mitsui (8031.JP)$
・In the fiscal year ending 2014/3, sales and profit declined due to a decline in coking coal market conditions,Five companies are the only ones to secure consolidated net profit in the 1 trillion yen rangeI did it.
・Consolidated net profit for the fiscal year ending 25/3 was due to falling LNG prices, etc.Forecast of a 15.4% decrease of 900 billion yen.
・200 billion yenAcquire treasury shares up to an upper limit.
・Use June 30 as the reference dateStock split of 2 shares per shareIt will be implemented.
・The annual dividend for the current fiscal year is before installments are taken into accountReal dividend increase with a 30 yen increasePlan it.
・10-day closing price7879 yenIt exceeded the average target stock price of 7596.36 yen for 11 analysts. What is the target stock price range6110 to 8750 yen.
・What is the most recent dividend yield before tax1.27%.

The sense of stability in non-resource businesses such as food is overwhelming
◆ $ITOCHU (8001.JP)$
・The decline in coal prices etc. resounded in the fiscal year ending 2014/3, but non-resource businesses, including food businesses such as Dole, were strong,The five companies were the only ones to secure an increase in profit compared to the previous fiscal yearI did it.
・Consolidated net profit for the fiscal year ending 25/3 compared to the previous fiscal yearForecast of a 9.8% increase of 880 billion yen (record high). It exceeded market expectations of 847.5 billion yen.Earn 80% of profits in the non-resource sectorplanning.
・The share repurchase has been carried out for 8 consecutive terms until now. This fiscal year will be the largest share acquisition agreement ever150 billion yen scaleIt will be implemented.
・What is the annual dividend for the current fiscal year10 yen increase from the previous fiscal yearDividends are expected to increase to 120 yen.
・The investment amount for growth is 1 trillion yen, the largest ever in a single year.
・10-day closing price7260 yenFrom until the average target stock price of the nine analysts was 7383.33 yen1.7%room for growth. What is the target stock price range6700 to 8500 yen.
・What is the most recent dividend yield before tax2.75%.

Pay attention to dialogues with activists, and non-resource fields such as transport aircraft and construction machinery are doing well
◆ $Sumitomo (8053.JP)$
・What is the fiscal year ending 24/3Increase in sales and decrease in profit. Non-resource sectors such as transport aircraft and construction machinery businesses were doing well, but falling resource prices and loss records in the nickel business in Madagascar resonated.
・Consolidated net profit for the fiscal year ending 25/337.2% increaseThe forecast is 530 billion yen. The decline in coal prices is echoing,Non-resource sectors such as transportation and construction machinery businesses and real estate businesses take the lead.
・50 billion yenA share buyback of the company was announced.
・PBR (stock price-net asset ratio) is the lowest of the 5 companies.
・What is the expected dividend for the fiscal year ending March 31, '25Dividend increased by 5 yen compared to the previous fiscal year.
・Progressive dividend system introduced for the first time
・At the end of AprilActivist US Elliot Management acquired shares of the company on a scale of tens of billion yenIt was reported that it was done. Increased corporate value and further expansion of shareholder returns are expected.
・The 10-day closing price of 4243 yen exceeded the average target stock price (4131 yen) of 10 analysts. What is the target stock price range3480 to 5200 yen.
・What is the most recent dividend yield before tax3.06%.

Expectations for growth in non-resource sectors such as aircraft leasing
◆ $Marubeni (8002.JP)$
・The decline in coking coal and energy prices reverberated during the fiscal year ending 2014/3,Decrease in sales and profit. However, of actual net profit (net profit excluding transient factors) of 467 billion yenLess than 70% are in the non-resource sectorIt is said that due to this, the proportion of non-resources is large.
・Consolidated net profit for the fiscal year ending 25/31.8% increaseThe forecast is 480 billion yen.Profits in non-resource sectors such as aircraft leasing will grow.
・50 billion yenA stock buyback with an upper limit was announced. The scale exceeded market expectations.
・What is the annual dividend forecast for the current fiscal year5 yen dividend increaseIt's 90 yen.
・10-day closing price3056 yenIt exceeded the average target stock price (2934.55 yen) of 11 analysts. What is the target stock price range2520 to 3450 yen.
・What is the most recent dividend yield before tax2.95%.