Global Materials | Industrials | Commodities

Rahul Jain

Over 20 years of sell-side research experience across Global Metals & Mining, Cement, Industrials, and Commodities. Extensive first-hand mine and plant visits spanning India, Australia, China, the US, and the UK.
Hundreds of buy-side engagements across major global financial hubs in Asia, North America, and Europe. Also led a comprehensive client tour of China to deepen industry understanding.

Focused on fundamentals-driven analysis including earnings modeling, cost structures, and valuations using DCF and relative multiples. Global commodity cycles, supply-demand trends, and macro factors are integrated into sector calls. Research prioritizes inflection points from price, cost, and policy shifts, using a disciplined bottom-up approach supported by top-down macro screening.

Marubeni (8002 JP): Re-Rating Done, Spot Copper Priced In

Equity Bottom-Up

<ul>
<li>Marubeni is a top-five Japanese trading house, diversified across resources, food, leasing, power, and chemicals.</li>
<li>Management is deploying ~¥1.2tn capex through FY30, tilted toward copper expansion in Chile and renewables growth.</li>
<li>Shares trade at ~11x P/E and 7–8% FCF yield with ~5% cash return yield, offering value on dips below ¥3,000.</li>
</ul>


Marubeni is a top-five Japanese trading house, diversified across resources, food, leasing, power, and chemicals.
Management is deploying ~¥1.2tn capex through FY30, tilted toward copper expansion in Chile and renewables growth.
Shares trade at ~11x P/E and 7–8% FCF yield with ~5% cash return yield, offering value on dips below ¥3,000.


丸紅株式会社（東証：8002） – 銅のトルク、プラットフォームの転換、そしてキャッシュリターン

Marubeni Corp

丸紅株式会社（東証：8002） – 銅のトルク、プラットフォームの転換、そしてキャッシュリターン