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Earnings presentation7011Mitsubishi Heavy Industries,Ltd.Machinery

Fiscal 2026 Second-Quarter Financial Results Briefing Materials

In the second quarter of fiscal 2026, revenue, business profit and profit for the year attributable to owners of the parent exceeded the year-earlier levels. The full-year forecasts for orders received, revenue, business profit and profit for the year were revised upward, incorporating a ¥300 billion treasury share acquisition.

Worth reading
75Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
1677
¥100 million (increase in full-year business profit versus previous forecast)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFY2026 second quarter13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥25,232 100 million+19.4%
Net income¥2,032 100 million +76.9%profit for the year attributable to owners of the parent
Selling, general and administrative expenses¥3,341 100 million
Full-year earnings forecast
Orders received
¥80,000 100 million
Revenue
¥60,000 100 million
Business profit
¥6,000 100 million
Profit for the period attributable to owners of the parent
¥4,400 100 million
EBITDA
¥7,200 100 million
Free cash flow
¥8,000 100 million
ROE
14 %
Annual Dividend
¥29
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Energy
Orders received52%
Revenue42%
Business profit38%
Plants & Infrastructure
Orders received63%
Revenue43%
Business profit46%
Industrial Solutions
Orders received50%
Revenue47%
Business profit49%
Aircraft, Defense & Space
Orders received16%
Revenue40%
Business profit42%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progressing steadily ahead of initial expectations
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Change in business profit
Changes in revenue and improved profit margins, etc.1,030
Foreign exchange impact220
Asset Management50
Changes in one-time expenses-400
Wage increases, etc.-122
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Assumed exchange rate
EUR180 JPY/EUR
New initiatives
  • Implementation of a ¥300 billion treasury share acquisition
  • Growth investment in GTCC high-temperature component production capacity, defense equipment production capacity, large-scale nuclear power processing equipment, commercial shipbuilding capacity and engine production capacity
  • Accelerating expansion of the data center business in the North American market
  • Capital and business alliance with Preferred Networks
Key KPIsA metric the company considers important as a management benchmark.
  • Orders received¥36,125 100 million
    Year on year against the same period last year+9.0%
  • Order Backlog¥142,256 100 million
  • EBITDA¥3,134 100 million
    Year on year against the same period last year+36.5%
  • Free cash flow¥4,683 100 million
    Year on year against the same period last year+¥317.2 billion
  • D/E ratio0.15 x
    Year on year against the same period last year-0.09
  • Equity ratio38.7 %
    Year on year against the same period last year+3.1 percentage points
  • Large gas turbine units ordered19 Vehicles
  • Large gas turbine units under contract83 Vehicles
Segment results
Energy
Orders received
¥23,042 100 million+16.3%
Revenue
¥11,225 100 million+28.9%
Business profit
¥1,451 100 million+79.8%
Plants & Infrastructure
Orders received
¥6,895 100 million+40.5%
Revenue
¥4,298 100 million+3.3%
Business profit
¥414 100 million-7.2%
Industrial Solutions
Orders received
¥3,756 100 million+15.4%
Revenue
¥3,526 100 million+12.3%
Business profit
¥147 100 million+119.4%
Aircraft, Defense & Space
Orders received
¥2,968 100 million-45.5%
Revenue
¥6,334 100 million+17.6%
Business profit
¥763 100 million+26.5%
Other and Corporate/Eliminations
Orders received
¥-537 100 million
Revenue
¥-152 100 million
Business profit
¥-284 100 million
Medium-term management plan targets
FY2026 business profit
Target value¥450 billion or more (published figure in the 2024 business plan)
Actuals / Current outlook¥600 billion
Financial targets
ROE
Current outlook14 %
FY2025 actual results12.2 %
Debt-to-equity ratio
Actual results0.15 x
Equity ratio
Actual results38.7 %
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Risk buffer
¥200 100 million
DetailsRisk buffer incorporated into the earnings outlook
Orders received and order backlog
Orders received
¥36,125 100 million
Order backlog
¥142,256 100 million
Capital expenditures
¥780 billion FY26-2Q
Annual Dividend
¥29 /share
Interim14
End of period15
Acquisition of treasury shares
Amount
¥3,000 100 million maximum
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFY2026 second quarter
Net Sales¥25,232 100 million (YoY +19.4%)
Net income¥2,032 100 million (profit for the year attributable to owners of the parent) (YoY +76.9%)
Selling, general and administrative expenses¥3,341 100 million
Full-year earnings forecastOrders received ¥80,000 100 million / Revenue ¥60,000 100 million / Business profit ¥6,000 100 million / Profit for the period attributable to owners of the parent ¥4,400 100 million / EBITDA ¥7,200 100 million / Free cash flow ¥8,000 100 million / ROE 14 % / Annual Dividend ¥29
Progress against full-year forecastEnergy Orders received 52% / Revenue 42% / Business profit 38% / Plants & Infrastructure Orders received 63% / Revenue 43% / Business profit 46% / Industrial Solutions Orders received 50% / Revenue 47% / Business profit 49% / Aircraft, Defense & Space Orders received 16% / Revenue 40% / Business profit 42%
Self-assessment against the planProgressing steadily ahead of initial expectations
Segment resultsEnergy Orders received ¥23,042 100 million (YoY +16.3%) / Revenue ¥11,225 100 million (YoY +28.9%) / Business profit ¥1,451 100 million (YoY +79.8%) / Plants & Infrastructure Orders received ¥6,895 100 million (YoY +40.5%) / Revenue ¥4,298 100 million (YoY +3.3%) / Business profit ¥414 100 million (YoY -7.2%) / Industrial Solutions Orders received ¥3,756 100 million (YoY +15.4%) / Revenue ¥3,526 100 million (YoY +12.3%) / Business profit ¥147 100 million (YoY +119.4%) / Aircraft, Defense & Space Orders received ¥2,968 100 million (YoY -45.5%) / Revenue ¥6,334 100 million (YoY +17.6%) / Business profit ¥763 100 million (YoY +26.5%) / Other and Corporate/Eliminations Orders received ¥-537 100 million / Revenue ¥-152 100 million / Business profit ¥-284 100 million
Breakdown of Factors Affecting the ChangeChange in business profit Changes in revenue and improved profit margins, etc. 1,030 / Foreign exchange impact 220 / Asset Management 50 / Changes in one-time expenses -400 / Wage increases, etc. -122
Key KPIsIndicator name Orders received / Value ¥36,125 100 million / Year on year against the same period last year +9.0%, Indicator name Order Backlog / Value ¥142,256 100 million / Year on year against the same period last year Not disclosed, Indicator name EBITDA / Value ¥3,134 100 million / Year on year against the same period last year +36.5%, Indicator name Free cash flow / Value ¥4,683 100 million / Year on year against the same period last year +¥317.2 billion, Indicator name D/E ratio / Value 0.15 x / Year on year against the same period last year -0.09 x, Indicator name Equity ratio / Value 38.7 % / Year on year against the same period last year +3.1 percentage points, Indicator name Large gas turbine units ordered / Value 19 Vehicles / Year on year against the same period last year Not disclosed, Indicator name Large gas turbine units under contract / Value 83 Vehicles / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookAssumed exchange rate EUR 180 JPY/EUR
Risk amount incorporated into the outlookRisk buffer ¥200 100 million / Details Risk buffer incorporated into the earnings outlook
Medium-term management plan targetsFY2026 business profit Target value ¥450 billion or more (published figure in the 2024 business plan) / Actuals / Current outlook ¥600 billion
Financial targetsROE Current outlook 14 % / FY2025 actual results 12.2 % / Debt-to-equity ratio Actual results 0.15 x / Equity ratio Actual results 38.7 %
Annual Dividend¥29 /share
Acquisition of treasury sharesAmount ¥3,000 100 million (maximum) / Number of Shares Not disclosed / Period Not disclosed
Capital expenditures¥780 billion (FY26-2Q)
Orders received and order backlogOrders received ¥36,125 100 million / Order backlog ¥142,256 100 million
New initiativesImplementation of a ¥300 billion treasury share acquisition, Growth investment in GTCC high-temperature component production capacity, defense equipment production capacity, large-scale nuclear power processing equipment, commercial shipbuilding capacity and engine production capacity, Accelerating expansion of the data center business in the North American market, Capital and business alliance with Preferred Networks
Items this document does not state (11)
Operating profitOrdinary incomeGross Profit MarginOperating profit marginResults for the three months of the current quarterUnit price and quantity metricsNumber of stores and locationsNumber of employeesPayout ratioMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The company cited progress that was ahead of initial expectations, particularly in GTCC, nuclear power and defense, steady construction progress, improved GTCC profitability, additional promising business opportunities and foreign exchange effects.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Fiscal 2026 Second-Quarter Financial Results Briefing Materials | Mitsubishi Heavy Industries,Ltd. (7011) timely disclosure | Komori