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Mitsubishi Electric, Apr-Dec (Cumulative 3Q) Net Income Increases by 33%, Oct-Dec Net Income Increases by 97%

Tue Feb 4, 2025 3:30 pm JST Earnings

6503 Mitsubishi Electric Corporation 【IFRS】

Earnings Report

Mitsubishi Electric Corporation <6503> [TSE Prime] announced its financial results (based on IFRS) after the market closed on February 4th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 248 billion yen, an increase 33.3% compared to the same period last year. The progress rate toward the full-year plan of 315 billion yen was 78.8%, also surpassing the five-year average of 66.2%.

Based on the cumulative third-quarter performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the January to March period (4Q) is expected to drop 32.3% from the same period last year to 66.9 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated net income increased 96.5% from the same period last year, reaching 129 billion yen. The operating profit margin improved from 7.0% in the same period last year to 9.4%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2022 3,565,237 163,225 189,070 139,343 66.0 64.7 Feb 2, 2023 IFRS
Apr - Dec, 2023 3,782,406 222,333 249,023 186,097 88.5 68.1 Feb 5, 2024 IFRS
Apr - Dec, 2024 4,000,351 303,555 344,633 248,094 119.1 80.1 Feb 4, 2025 IFRS
YoY +5.8% +36.5% +38.4% +33.3% +34.5%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Prev 2,746,403 223,318 253,256 196,360 94.6 30 Oct 31, 2024 IFRS
Oct - Mar, 2024 New 2,756,403 223,318 253,256 196,360 94.6 30 Feb 4, 2025 IFRS
Revision Rate +0.4% 0.0% 0.0% 0.0% 0.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 5,390,000 400,000 430,000 315,000 151.8 50 Oct 31, 2024 IFRS
Mar, 2025 New 5,400,000 400,000 430,000 315,000 151.8 50 Feb 4, 2025 IFRS
Revision Rate +0.2% 0.0% 0.0% 0.0% 0.0%

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 2,719,443 192,686 206,067 164,721 78.5 30 Apr 26, 2024 IFRS
Oct - Mar, 2024 Guidance 2,756,403 223,318 253,256 196,360 94.6 30 Feb 4, 2025 IFRS
YoY +1.4% +15.9% +22.9% +19.2% +20.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 5,003,694 262,352 292,179 213,908 101.3 40 Apr 28, 2023 IFRS
Mar, 2024 5,257,914 328,525 365,853 284,949 135.7 50 Apr 26, 2024 IFRS
Mar, 2025 Guidance 5,400,000 400,000 430,000 315,000 151.8 50 Feb 4, 2025 IFRS
YoY +2.7% +21.8% +17.5% +10.5% +11.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 1,243,935 86,494 89,237 65,869 31.3 7.0 Feb 5, 2024 IFRS
Jan - Mar, 2024 1,475,508 106,192 116,830 98,852 47.1 7.2 Apr 26, 2024 IFRS
Apr - Jun, 2024 1,286,484 58,659 76,125 49,138 23.5 4.6 Jul 31, 2024 IFRS
Jul - Sep, 2024 1,357,113 118,023 100,619 69,502 33.3 8.7 Oct 31, 2024 IFRS
Oct - Dec, 2024 1,356,754 126,873 167,889 129,454 62.1 9.4 Feb 4, 2025 IFRS
YoY +9.1% +46.7% +88.1% +96.5% +98.3%

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