Mitsubishi Corporation (8058) Q4 2026 earnings summary

Executive summary

• Underlying operating cash flow for FY2025 reached ¥1,048.1 billion, with consolidated net income at ¥800.5 billion, both exceeding forecasts despite a year-over-year net income decline due to lower one-time gains and Lawson's reclassification.

• FY2026/FY2027 forecasts project underlying operating cash flow of ¥1,250.0 billion and consolidated net income of ¥1,100.0 billion, with a dividend increase to ¥125 per share.

• Profit growth is expected from new business contributions, asset recycling, and strategic initiatives such as "Enhance," "Reshape," and "Create."

• Comprehensive income surged 40.6% year-over-year to ¥1,667.4 billion, reflecting significant gains in other comprehensive income.

Financial highlights

• FY2025 underlying operating cash flow: ¥1,048.1 billion; consolidated net income: ¥800.5 billion; gross profit: ¥1,655.1 billion.

• FY2026/FY2027 forecast: operating cash flow of ¥1,250.0 billion and net income of ¥1,100.0 billion.

• Dividend per share increased from ¥100 in FY2024 to ¥110 in FY2025, with a further rise to ¥125 planned for FY2026/FY2027.

• ROE for FY2025 was 8.5%, with a target of 12%+ by FY2027.

• Total assets grew to ¥24,151.7 billion, up ¥2,655.6 billion year-over-year.

Outlook and guidance

• FY2026/FY2027 profit growth expected from U.S. shale gas business, LNG Canada, and strategic investments.

• Projected increase of ¥200 billion in operating cash flow and ¥300 billion in net income year-over-year.

• Dividend per share to rise to ¥125, with flexible share buybacks and a three-year average payout ratio expected to exceed 40%.

• FY2027 targets include ROE of 12%+ and continued profit growth from strategic initiatives.