Mitsubishi Corporation, First Half Net Income Increases by 33%, July-September Net Income Increases by 78%

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Fri Nov 1, 2024 12:30 pm JST Earnings

8058 Mitsubishi Corporation 【IFRS】

Earnings Report

Mitsubishi Corporation <8058> [TSE-P] announced its financial results (based on IFRS) at noon (12:30) on November 1st. The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 618 billion yen, an increase of 32.6% compared to the same period last year. The progress rate against the 950 billion yen full-year plan was 65.1%, also surpassing the five-year average of 48.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to drop by 33.3% from the same period last year to 331 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income increased by 77.7% from the same period last year, reaching 263 billion yen.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	10,721,878	ー	1,006,419	720,006	163.5	59.9	Nov 8, 2022	IFRS
Apr - Sep, 2023	9,561,011	ー	674,186	466,076	110.0	49.5	Nov 2, 2023	IFRS
Apr - Sep, 2024	9,354,751	ー	903,514	618,055	152.7	ー	Nov 1, 2024	IFRS
YoY	-2.2%	－	+34.0%	+32.6%	+38.8%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	50	May 2, 2024	IFRS
Apr - Sep, 2024 Results	9,354,751	ー	903,514	618,055	152.7	50	Nov 1, 2024	IFRS
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	10,006,590	ー	688,408	497,958	118.9	35	May 2, 2024	IFRS
Oct - Mar, 2024 Guidance	ー	ー	ー	331,945	83.5	50	Nov 1, 2024	IFRS
YoY	－	－	－	-33.3%	-29.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	21,571,973	ー	1,680,631	1,180,694	269.8	60	May 9, 2023	IFRS
Mar, 2024	19,567,601	ー	1,362,594	964,034	230.1	70	May 2, 2024	IFRS
Mar, 2025 Guidance	ー	ー	ー	950,000	238.9	100	May 2, 2024	IFRS
YoY	－	－	－	-1.5%	+3.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,825,346	ー	229,486	148,355	35.0	0.0	Nov 2, 2023	IFRS
Oct - Dec, 2023	5,144,571	ー	331,031	230,538	54.8	0.0	Feb 6, 2024	IFRS
Jan - Mar, 2024	4,862,019	ー	357,377	267,420	63.8	0.0	May 2, 2024	IFRS
Apr - Jun, 2024	4,685,953	ー	498,871	354,359	86.9	0.0	Aug 1, 2024	IFRS
Jul - Sep, 2024	4,668,798	ー	404,643	263,696	65.2	0.0	Nov 1, 2024	IFRS
YoY	-3.2%	－	+76.3%	+77.7%	+86.0%