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Mitsubishi Electric, Net Income Forecast for the Fiscal Year Revised Downward by 3%

Tue Feb 3, 2026 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 3rd (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 20.2% from the same period last year, reaching 298 billion yen.

However, the full-year forecast for consolidated net income has decreased 2.7%, from the previous forecast of 370 billion yen to 360 billion yen (compared to 324 billion yen in the previous period), leading to a reduction in the profit growth rate from 14.2% to 11.1%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income for the October to March period (second half) has decreased 5.5%, from the previous forecast of 180 billion yen to 170 billion yen (compared to 205 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 12.1% to 17.0%.

In the most recent three-month period, from October to December (3Q), the consolidated net income decreased to 108 billion yen, a 15.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.4% in the same period last year to 4.9%.

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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, 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 78.8 Feb 4, 2025 IFRS
Apr - Dec, 2025 4,156,010 294,757 379,379 298,265 144.9 77.4 Feb 3, 2026 IFRS
YoY +3.9% -2.9% +10.1% +20.2% +21.6%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Prev 2,937,496 205,634 246,025 180,603 88.3 30 Oct 31, 2025 IFRS
Oct - Mar, 2025 New 3,027,496 175,634 236,025 170,603 83.4 30 Feb 3, 2026 IFRS
Revision Rate +3.1% -14.6% -4.1% -5.5% -5.5%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 5,670,000 430,000 500,000 370,000 180.8 55 Oct 31, 2025 IFRS
Mar, 2026 New 5,760,000 400,000 490,000 360,000 175.9 55 Feb 3, 2026 IFRS
Revision Rate +1.6% -7.0% -2.0% -2.7% -2.7%

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 3,027,496 175,634 236,025 170,603 83.4 30 Feb 3, 2026 IFRS
YoY +5.2% -18.4% -9.4% -17.0% -15.5%

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 5,760,000 400,000 490,000 360,000 175.9 55 Feb 3, 2026 IFRS
YoY +4.3% +2.1% +12.1% +11.1% +13.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
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
Oct - Dec, 2025 1,423,506 70,391 125,404 108,868 52.9 4.9 Feb 3, 2026 IFRS
YoY +4.9% -44.5% -25.3% -15.9% -14.9%

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