Mitsui High-Tec unveils new growth plan despite profit dip

Mitsui High-Tec (TSE: 6966) has announced its new medium-term management plan, spanning fiscal years 2026 through 2028, aiming for sustainable growth by capitalizing on opportunities in the global electric vehicle (EV) market and strengthening overall group profitability and capital efficiency. Despite a projected 18.8% decrease in operating profit for fiscal year 2026 to ¥13 billion, the company anticipates revenue growth to ¥230 billion, a 7% increase, driven by continued momentum in the EV sector and a gradual recovery in the semiconductor market. This short-term profit dip is attributed to planned upfront investments, particularly in overseas expansion related to electric vehicle components, including a new facility in Mexico.