Mitsubishi : Notice Concerning of Consolidated Earnings Forecast for the Year Ending March 2021
August 13, 2020 at 01:03 am EDT
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Translation of report filed with the Tokyo Stock Exchange on August 13, 2020
Notice Concerning of Consolidated Earnings Forecast for the Year Ending March 2021
Mitsubishi Corporation (MC) hereby announces its consolidated earnings forecast for the year ending March 31, 2021 (April 1, 2020 to March 31, 2021).
Consolidated Earnings Forecasts
(Fiscal year beginning on April 1, 2020 and ending on March 31, 2021)
Profit for the year
Profit for the year
attributable to
attributable to
owners of the Parent
owners of the Parent
per share (basic)
Previous forecast (A)
(millions of yen)
(yen)
-
-
Disclosed forecast (B)
200,000
135.47
Difference (B-A)
-
-
Increase/decrease (%)
-
-
(Reference)
Results for the year ended
535,353
348.50
March 31, 2020
Reason for the disclosure
Until now, MC had been unable of announce its forecasts for the fiscal year ending March 31, 2021 due to uncertainties surrounding the novel coronavirus (COVID-19) and its impacts on the company's operations; however, MC now considers better prepared to factor in anticipated impacts of COVID- 19 based on the current business climate, first-quarter results and new information that has become available.
It remains unclear when the pandemic will end, and its effects on MC's operations will differ depending on the industries and regions in question; however, the above forecasts have been made assuming a gradual recovery in economic conditions over the second half of this fiscal year.
For more information, please see MC's financial results for the three months ended June 2020, which the company released today.
Note: The above forecasts are projections based on information available at the time of this release and certain assumptions that management believes to be reasonable. Due to a variety of factors, actual results may differ materially from these forecasts, which are not intended as a guarantees of future performance.
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Mitsubishi Corporation published this content on 13 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 August 2020 05:02:16 UTC
Mitsubishi Corporation is a diversified group organized around 10 sectors of activity:
- manufacturing of food and consumer products (29.9% of net sales);
- production of chemicals and petroleum products (19.9%): crude oil, refined products, natural gas, synthetic fiber materials, petrochemicals, fertilizers and specialty chemicals ;
- production and processing of metals (12.6%): iron, steel products and non-ferrous metals;
- mineral resources exploitation (16.5%);
- exploration and production of natural gas (6.7%);
- car manufacturing (5.3%);
- production, transmission and distribution of electricity (5.3%);
- construction of energy infrastructure and industrial facilities (3.3%). The group also sells construction machinery, machine tools, agricultural machinery, elevators, escalators, facility management, ships and aviation equipment;
- development of real estate assets (0.4%);
- other (0.1%).
Net sales break down geographically as follows: Japan (51.8%), the United States (15.5%), Singapore (7%), Australia (6.2%) and other (19.5%).