FINANCIAL RESULTS FOR

THE THREE MONTHS ENDED JUNE 2022

Mitsubishi Corporation

2-3-1 Marunouchi, Chiyoda-ku, Tokyo, JAPAN 100-8086

https://www.mitsubishicorp.com/

August 2, 2022

Mitsubishi Corporation

FINANCIAL HIGHLIGHTS FOR THE THREE MONTHS ENDED JUNE 30, 2022

(Based on IFRS) (Consolidated)

1. Consolidated operating results for the three months ended June 30, 2022

(1) Revenues and income

Note:

Figures less than one million yen are rounded.

%: change from the same period of the previous year

Profit for the period

Revenues

Profit before tax

Profit for the period

attributable to

Comprehensive income

owners of the Parent

For the three months ended

Millions of Yen

%

Millions of Yen

%

Millions of Yen

%

Millions of Yen

%

Millions of Yen

%

June 30, 2022

5,443,439

43.5

739,293

198.4

558,329

180.8

533,951

184.7

908,415

239.7

June 30, 2021

3,793,730

42.2

247,775

342.7

198,847

394.4

187,572

411.6

267,443

137.6

Profit for the period

Profit for the period

attributable to

attributable to

owners of the Parent

owners of the Parent

per share (basic)

per share (diluted)

For the three months ended

Yen

Yen

June 30, 2022

362.21

360.72

June 30, 2021

127.07

126.71

Note:

Profit for the period attributable to owners of the Parent per share (basic) and Profit for the period attributable to owners of the Parent per share (diluted) are calculated based on Profit for the

period attributable to owners of the Parent.

(2) Financial position

Equity attributable to

Ratio of equity attributable to

Total assets

Total equity

owners of the Parent to total

owners of the Parent

assets

As of

Millions of Yen

Millions of Yen

Millions of Yen

%

June 30, 2022

23,026,741

8,550,985

7,560,472

32.8

March 31, 2022

21,912,012

7,857,172

6,880,232

31.4

2. Dividends

Cash dividend per share (Yen)

(Record date)

1Q end

2Q end

3Q end

4Q end

Annual

Fiscal Year

71.00

79.00

150.00

ended March 31, 2022

Fiscal Year

ending March 31, 2023

Fiscal Year

75.00

75.00

150.00

ending March 31, 2023 (Forecast)

Note: Change from the latest released dividend forecasts: No

3. Consolidated forecasts for the fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023)

Note:

%: change from the previous year.

Profit attributable to

Profit attributable to owners of

owners of the Parent

the Parent per share

For the year ending

Millions of Yen

%

Yen

March 31, 2023

850,000

(9.3)

583.58

Note: Change from the latest released earnings forecasts: No

4. Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries causing changes in scope of consolidation): None New companies:
    Excluded companies:
  2. Changes in accounting policies and accounting estimates

-1- Changes in accounting policies required by IFRS : Yes

-2- Changes in accounting policies other than -1- : None

-3- Changes in accounting estimates : Yes

Please refer to page 12, "3. Changes in Accounting Policies and Accounting Estimates."

(3) Number of shares issued (Common stock)

-1- Number of shares issued at quarterly-end (including treasury stock)

(June 30, 2022)

1,485,723,351

(March 31, 2022)

1,485,723,351

-2- Number of treasury stock at quarterly-end

(June 30, 2022)

19,742,296

(March 31,

2022)

9,178,013

-3- Average number of shares during each of the three months ended June 30, 2022 and 2021

(June 30, 2022)

1,474,151,586

(June 30,

2021)

1,476,134,019

Disclosure Regarding Quarterly Review Procedures

This earnings release is not subject to independent Auditor's review procedures.

Forward-looking Statements

Earnings forecasts and other forward-looking statements in this release are based on data currently available to management and certain assumptions that management believes are reasonable. The achievement of said forecasts cannot be promised. Actual results may therefore differ materially from these statements for various reasons. For cautionary notes concerning assumptions for earnings forecasts, please refer to "1. (4) Forecasts for the Year Ending March 2023" on page 5.

Contents

  1. Qualitative Information …………………………………………………………………………2
  1. Results of Operations ………………………………………………………………………… … 2
  2. Financial Position ……………………………………………………………………………… 3
  3. Cash Flows ……………………………………………………………………………………… 3
  4. Forecasts for the Year Ending March 2023 …………………………………………………… 5
  1. Condensed Consolidated Financial Statements ………………………………………………… 6
  1. Condensed Consolidated Statement of Financial Position ……………………………………… 6

(2) Condensed Consolidated Statement of Income ……………………………………………… 8

(3)

Condensed Consolidated Statement of Comprehensive Income ……………………………… 9

(4)

Condensed Consolidated Statement of Changes in Equity ……………………………………10

  1. Condensed Consolidated Statement of Cash Flows ……………………………………………11
  1. Changes in Accounting Policies and Accounting Estimates ……………………………………12
  2. Notes Concerning Going Concern Assumption …………………………………………………13
  • Mitsubishi Corporation will hold an earnings conference call for the three months ended June 2022, inviting institutional investors and analysts to join.

The conference material can be accessed live in Japanese from our website (Investor Relations section) at the following URL:

https://www.mitsubishicorp.com/jp/ja/ir/index.htmlTime and date of the earnings conference call:

From 18:00 to 19:00 on Tuesday, August 2, 2022 (JST)

1

1. Qualitative Information

(Profit for the period, as used hereinafter, refers to profit for the period attributable to owners of the Parent.)

(1) Results of Operations

Revenues was ¥5,443.4 billion, an increase of ¥1,649.7 billion, or 43% year over year. This was mainly due to increased market prices and transaction volumes.

Gross profit was ¥774.7 billion, an increase of ¥353.2 billion, or 84% year over year, mainly due to increased market prices in the Australian metallurgical coal business.

Selling, general and administrative expenses was ¥374.9 billion, an increase of ¥35.7 billion, or 11% year over year, mainly due to increased transaction volumes due to the recommencement of economic activity and increased ancillary costs reflecting strong business performance.

Gains on investments increased ¥100.4 billion, or 283% year over year, to ¥135.9 billion, mainly due to sales gains on an investment in a real estate management company.

Impairment losses on property, plant and equipment and others remained nearly the same year over year at ¥1.4 billion.

Other income (expense)-net decreased ¥4.5 billion, or 36% year over year, to an income amount of ¥7.9 billion, mainly due to fluctuations in evaluation profit (loss) on biological assets.

Finance income increased ¥13.4 billion, or 29% year over year, to ¥60.2 billion, mainly due to increased dividend income from resource-related investments.

Finance costs increased ¥7.2 billion, or 67% year over year, to ¥17.9 billion, mainly due to higher U.S. dollar interest rates.

Share of profit of investments accounted for using the equity method increased ¥70.3 billion, or 85% year over year, to ¥153.4 billion, mainly due to increased equity earnings resulting from higher crude oil and natural gas prices.

As a result, profit before tax increased ¥491.5 billion, or 198% year over year, to ¥739.3 billion.

Accordingly, profit for the period increased ¥346.4 billion, or 185% year over year, to ¥534.0 billion.

2

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Mitsubishi Corporation published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 07:29:08 UTC.