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Mitsubishi Electric, Net Income Forecast for the Fiscal Year Revised Upward by 9%, Raises Record High Profit Forecast

Fri Oct 31, 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 October 31st (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 189 billion yen, an increase 59.6% compared to the same period last year.

In addition, the full-year forecast for consolidated net income has been revised upward 8.8%, from the previous forecast of 340 billion yen to 370 billion yen (compared to 324 billion yen in the previous period), increasing the growth rate from 4.9% to 14.2%, further surpassing the previous forecast of record-high profits for three consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease 12.1% from the same period last year to 180 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income increased 41.7% from the same period last year, reaching 98.4 billion yen. However, the operating profit margin worsened from 8.7% in the same period last year to 7.9%.

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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, 2023 2,538,471 135,839 159,786 120,228 57.1 43.7 Oct 31, 2023 IFRS
Apr - Sep, 2024 2,643,597 176,682 176,744 118,640 56.9 40.4 Oct 31, 2024 IFRS
Apr - Sep, 2025 2,732,504 224,366 253,975 189,397 91.7 50.8 Oct 31, 2025 IFRS
YoY +3.4% +27.0% +43.7% +59.6% +61.4%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance ー ー ー ー － 25 May 13, 2025 IFRS
Apr - Sep, 2025 Results 2,732,504 224,366 253,975 189,397 91.7 25 Oct 31, 2025 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 5,400,000 430,000 470,000 340,000 166.2 55 May 13, 2025 IFRS
Mar, 2026 New 5,670,000 430,000 500,000 370,000 180.8 55 Oct 31, 2025 IFRS
Revision Rate +5.0% 0.0% +6.4% +8.8% +8.8%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 2,878,114 215,168 260,521 205,444 98.7 30 Apr 28, 2025 IFRS
Oct - Mar, 2025 Guidance 2,937,496 205,634 246,025 180,603 88.3 30 Oct 31, 2025 IFRS
YoY +2.1% -4.4% -5.6% -12.1% -10.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 5,257,914 328,525 365,853 284,949 135.7 50 Apr 26, 2024 IFRS
Mar, 2025 5,521,711 391,850 437,265 324,084 155.7 50 Apr 28, 2025 IFRS
Mar, 2026 Guidance 5,670,000 430,000 500,000 370,000 180.8 55 Oct 31, 2025 IFRS
YoY +2.7% +9.7% +14.3% +14.2% +16.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
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
Jan - Mar, 2025 1,521,360 88,295 92,632 75,990 36.5 5.8 Apr 28, 2025 IFRS
Apr - Jun, 2025 1,312,896 111,972 124,076 90,926 43.9 8.5 Jul 31, 2025 IFRS
Jul - Sep, 2025 1,419,608 112,394 129,899 98,471 47.7 7.9 Oct 31, 2025 IFRS
YoY +4.6% -4.8% +29.1% +41.7% +43.2%

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