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Mitsubishi Steel Mfg, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 38% Decrease

Thu Nov 6, 2025 3:00 pm JST Earnings

5632 Mitsubishi Steel Mfg. Co.,Ltd. 【J-GAAP】

Earnings Report

Mitsubishi Steel Mfg. Co.,Ltd. <5632> [TSE Prime] announced its financial results in the afternoon session on November 6th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 14.9% from the same period last year to 1.41 billion yen, resulting in a decrease in profits compared to the previous forecast of a 29.9% increase.

In addition, the full-year forecast for consolidated ordinary profit has decreased 47.4%, from the previous forecast of 5.70 billion yen to 3.00 billion yen (compared to 4.85 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 38.2% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop 50.3% from the same period last year to 1.58 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 2.9 times that of the same period last year, reaching 1.21 billion yen. However, the operating profit margin worsened from 4.6% in the same period last year to 3.2%.

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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 86,620 2,872 2,071 922 60.2 106.3 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 80,516 3,163 1,663 32 2.1 34.3 Nov 7, 2024 J-GAAP
Apr - Sep, 2025 79,927 2,121 1,415 674 44.6 47.2 Nov 6, 2025 J-GAAP
YoY -0.7% -32.9% -14.9% +2,006.3% +2,003.3%

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 78,000 3,000 2,160 1,300 86.0 40 May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 79,927 2,121 1,415 674 44.6 40 Nov 6, 2025 J-GAAP
Revision Rate +2.5% -29.3% -34.5% -48.2% -48.1%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 159,000 7,400 5,700 3,000 198.4 80 May 14, 2025 J-GAAP
Mar, 2026 New 159,000 4,400 3,000 2,500 165.3 80 Nov 6, 2025 J-GAAP
Revision Rate 0.0% -40.5% -47.4% -16.7% -16.7%

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 79,068 3,401 3,191 2,331 153.8 34 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 79,073 2,279 1,585 1,826 120.8 40 Nov 6, 2025 J-GAAP
YoY +0.0% -33.0% -50.3% -21.7% -21.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 169,943 4,808 1,949 -969 -63.5 60 May 13, 2024 J-GAAP
Mar, 2025 159,584 6,564 4,854 2,363 155.9 64 May 14, 2025 J-GAAP
Mar, 2026 Guidance 159,000 4,400 3,000 2,500 165.3 80 Nov 6, 2025 J-GAAP
YoY -0.4% -33.0% -38.2% +5.8% +6.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 39,947 1,819 419 -115 -7.6 4.6 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 39,071 1,828 2,450 976 64.4 4.7 Feb 6, 2025 J-GAAP
Jan - Mar, 2025 39,997 1,573 741 1,355 89.4 3.9 May 14, 2025 J-GAAP
Apr - Jun, 2025 38,113 793 204 -115 -7.6 2.1 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 41,814 1,328 1,211 789 52.2 3.2 Nov 6, 2025 J-GAAP
YoY +4.7% -27.0% +189.0% － －

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