MITSUBISHI CORPORATION August 3, 2023
Mitsubishi Corporation
Results for the First Three Months of FY2023
Presentation Materials
August 3, 2023
Mitsubishi Corporation
Forward-Looking Statements
- This release contains forward-looking statements about Mitsubishi Corporation's future plans, strategies, beliefs and performance that are not historical facts. Such statements are based on the Company's assumptions and beliefs in light of competitive, financial and economic data currently available and are subject to a number of risks, uncertainties and assumptions that, without limitation, relate to world economic conditions, exchange rates and commodity prices.
- Accordingly, Mitsubishi Corporation wishes to caution readers that actual results may differ materially from those projected in this release and that Mitsubishi Corporation bears no responsibility for any negative impact arising from the use of this release.
Notes Regarding This Release
- Consolidated net income in this presentation shows the amount of net income attributable to owners of the Parent, excluding non-controlling interests. Equity shows the amount of equity attributable to owners of the Parent, excluding non-controlling interests, which is a component of total equity.
- "FY2022" refers to fiscal 2022 (April 1, 2022 to March 31, 2023).
- "FY2023" refers to fiscal 2023 (April 1, 2023 to March 31, 2024).
Copyright © 2023 Mitsubishi Corporation
August 3, 2023
Mitsubishi Corporation
Contents
1 Progress of Midterm Corporate Strategy 2024
- Detailed Results for the First Three Months of FY2023
- Supplementary Information of Consolidated Financial Statements
- Supplementary Information by Segment
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August 3, 2023
Mitsubishi Corporation
1 Progress of Midterm Corporate Strategy 2024
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August 3, 2023
Mitsubishi Corporation
Summary of Results for the First Three Months of FY2023
(Billions of Yen)
Consolidated
net income
First three months | First three months | Change |
of FY2022 | of FY2023 | |
534.0 | 317.7 | (216.3) |
Forecast for FY2023 | Progress |
(Released May 9) | |
920.0 35%
- Following record-high profit in the previous fiscal year, each segment saw steady earnings, and asset replacement in Food Industry and Urban Development led to capital gains. The first quarter marked a smooth start toward reaching the annual forecasts.
- To further enhance corporate value, we will accelerate efforts to implement the value-added cyclical growth model and other policies outlined in Midterm Corporate Strategy 2024. At the same time, we will flexibly consider additional investments and shareholder returns in light of cash flows and other factors.
(Reference) Year-over-year changes in quarterly net income
(Billions of Yen)
534.0
Approx. 100.0 | 84.1 from the sale of | Please refer to P4 for detailed year-over-year changes. |
(Capital gains) | ||
MC-UBSR, etc. |
Performance bolstered | ||||
by strong resource | 317.7 | |||
prices and other | Food Industry | |||
market conditions | Approx. 50.0 | |||
235.8 | Urban Development, etc. | |||
186.0 | 224.9 | |||
Maintaining firm profit | ||||
22.1Q | 22.2Q | 22.3Q | 22.4Q | 23.1Q |
920.0
Total Payout Ratio: Approx. 40%
Dividend per share: ¥200 Share buybacks: ¥100.0 bn
FY2023 Forecast
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August 3, 2023
Mitsubishi Corporation
Year-over-Year Changes
- Consolidated net income in the first three months of FY2023 was ¥317.7 billion, the second- highest ever, after last year's ¥534.0 billion, reflecting steady earnings in many businesses.
- The main factor in the ¥216.3 billion year-over-year decrease was the previous year's soaring resource prices. In the non-resource sector, meanwhile, although capital gains in the previous year and the extremely tight supply-demand balance began to normalize, earnings remained high, and we expect earnings to remain on track for the second quarter onward.
Details of ¥216.3 billion year-over-year decrease
534.0
Resource prices
(165.0)
(Billions of Yen)
- Resource sector: Improved earnings in the LNG sales business, increased production at Quellaveco, etc.
Fore | nge | ||||||||
ign excha | |||||||||
+25.0 | 317.7 | ||||||||
(50.0) | +25.0 | ||||||||
(50.0) |
- Capital gains: Reflecting gains on sale of MC-UBSR in the previous year, despite gains on asset replacement in Food Industry and Urban Development in the current year
- Others: Mainly due to the tight supply-demand balance in the previous year particularly in Automotive & Mobility, Chemicals Solution, etc.
Results for the First Three
Months of FY2022
Results for the First Three
Months of FY2023
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Mitsubishi Corporation published this content on 03 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2023 07:45:03 UTC.
