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Mitsubishi Heavy Industries, First Half Net Income Increases by 7%, Jul-Sep Net Income Increases by 4%

Fri Nov 7, 2025 1:30 pm JST Earnings

7011 Mitsubishi Heavy Industries,Ltd. 【IFRS】

Earnings Report

Mitsubishi Heavy Industries,Ltd. <7011> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on November 7th (13:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 7.3% from the same period last year, reaching 114 billion yen. Progress toward the full-year plan of 230 billion yen was 50.0%, exceeding the five-year average of 34.3%.

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 16.8% from the same period last year to 115 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income grew 4.1% from the same period last year, reaching 46.6 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, 2023 2,069,272 ー 133,714 91,944 27.4 42.4 Nov 6, 2023 IFRS
Apr - Sep, 2024 1,969,224 ー 150,673 107,120 31.9 40.2 Nov 5, 2024 IFRS
Apr - Sep, 2025 2,113,717 ー 173,720 114,912 34.2 47.0 Nov 7, 2025 IFRS
YoY +7.3% － +15.3% +7.3% +7.4%

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 － 12 May 9, 2025 IFRS
Apr - Sep, 2025 Results 2,113,717 ー 173,720 114,912 34.2 12 Nov 7, 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 4,750,000 ー 370,000 230,000 68.5 24 Sep 30, 2025 IFRS
Mar, 2026 New 4,800,000 ー 370,000 230,000 68.5 24 Nov 7, 2025 IFRS
Revision Rate +1.1% － 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, 2024 3,057,952 ー 223,858 138,327 41.2 12 May 9, 2025 IFRS
Oct - Mar, 2025 Guidance 2,686,283 ー 196,280 115,088 34.3 12 Nov 7, 2025 IFRS
YoY -12.2% － -12.3% -16.8% -16.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 4,657,147 ー 315,187 222,023 66.1 20 May 8, 2024 IFRS
Mar, 2025 5,027,176 ー 374,531 245,447 73.0 23 May 9, 2025 IFRS
Mar, 2026 Guidance 4,800,000 ー 370,000 230,000 68.5 24 Nov 7, 2025 IFRS
YoY -4.5% － -1.2% -6.3% -6.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 857,669 ー 49,367 44,834 13.3 0.0 Nov 5, 2024 IFRS
Oct - Dec, 2024 1,578,534 ー 124,216 64,990 19.3 0.0 Feb 4, 2025 IFRS
Jan - Mar, 2025 1,479,418 ー 99,642 73,337 21.8 0.0 May 9, 2025 IFRS
Apr - Jun, 2025 1,193,652 ー 94,963 68,227 20.3 0.0 Aug 5, 2025 IFRS
Jul - Sep, 2025 920,065 ー 78,757 46,685 13.9 0.0 Nov 7, 2025 IFRS
YoY +7.3% － +59.5% +4.1% +4.3%

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