Japan · Delayed Price · Currency is JPY Mitsubishi Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY 2026 saw strong financial performance with operating cash flow and net income both up over 27% of full-year guidance, driven by higher commodity prices and new business contributions. Full-year outlook is maintained, with potential for upward revision in Q2.
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A new strategy targets sustainable growth by optimizing the business portfolio and leveraging integrated strengths, aiming for 10%+ cash flow growth and 12%+ ROE by 2027. Record-high dividends and share buybacks are planned, with JPY 3 trillion in new investments.
Fiscal Year 2026
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FY 2025 saw operating cash flow and net income far exceed forecasts, driven by business growth and market gains. FY 2026 guidance projects further profit increases, higher dividends, and continued investment in growth, with strong progress in asset turnover and new business contributions.
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Q3 operating cash flow and net income exceeded expectations, prompting an upward revision of the full-year cash flow forecast. Strategic investments and segment performance improvements support confidence in achieving 2027 targets, despite some ongoing uncertainties.
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Q2 operating cash flow and net income reached about 50% of full-year targets, despite year-on-year declines due to weaker commodity markets and absence of one-off gains. Segment forecasts were revised, with strong shareholder returns and a robust financial position maintained.
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Q1 FY 2025 underlying operating cash flow and net income are progressing in line with full-year guidance, despite year-on-year declines. Major developments include LNG Canada’s first shipment, strategic acquisitions, and a robust share buyback program.
Fiscal Year 2025
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FY2024 saw strong cash flow and net income, driven by divestiture gains, despite declines in key segments. FY2025 forecasts lower net income due to fewer capital recycling gains, but stable cash flow and increased dividends. Share repurchases and new investments are planned.
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Net income for the nine months rose to JPY 827.4 billion, with strong gains from asset sales and segment performance. Despite a JPY 52.2 billion impairment in wind power, the full-year outlook remains at JPY 950 billion, and additional cash will be allocated to investments and returns.
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Q2 net income rose to JPY 618.1 billion, driven by Lawson revaluation and coal asset sales, with 65% progress toward full-year guidance. Segment forecasts were revised, with gains in Food Industry and Environmental Energy offsetting lower Mineral Resources outlook.
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Q1 FY2024 net income rose to JPY 354.4 billion, driven by coal mine divestitures and a weaker yen, achieving 37% of full-year guidance. Strong cash flow and segment gains were offset by losses in Urban Development & Infrastructure and SLC.