Mitsubishi Corporation · TSE:8058
Mitsubishi — Mitsubishi Corp Ord — Q3 2022 Earnings Presentation
43 slides from Mitsubishi's earnings presentation, Feb 3, 2023
Slide 1: Results for the First Nine Months of FY2022 Presentation Materials
February 3, 2023 Mitsubishi Corporation Results for the First Nine Months of FY2022 Presentation Materials February 3, 2023 Mitsubishi Corporation Forward-Looking Statements - This release contains forward-looking statements about Mitsubishi Corporation’s future plans, strategies, beliefs and perfor
Slide 2: Contents
February 3, 2023 Mitsubishi Corporation Contents 1 Progress of Midterm Corporate Strategy 2024 2 Detailed Results for the First Nine Months of FY2022 3 Supplementary Information of Consolidated Financial Statements 4 Supplementary Information by Segment Copyright © 2023 Mitsubishi Corporation 1
Slide 3: Progress of Midterm Corporate Strategy 2024
February 3, 2023 Mitsubishi Corporation 1 Progress of Midterm Corporate Strategy 2024 Copyright © 2023 Mitsubishi Corporation 2
Slide 4: Summary of Results for the First Nine Months of FY2022
February 3, 2023 Mitsubishi Corporation Summary of Results for the First Nine Months of FY2022 （Billions of Yen） First nine months First nine months Forecast for November 2022 Revised Results Change Change of FY2021 of FY2022 FY2022 forecast forecast Consolidated Consolidated 644.8 955.8 +311.0 1,03
Slide 5: Progress of Midterm Corporate Strategy 2024 toward Earnings Target
February 3, 2023 Mitsubishi Corporation Progress of Midterm Corporate Strategy 2024 toward Earnings Target ➢ Earnings independent of market factors, one of the quantitative targets of Midterm Corporate Strategy 2024, is expected to reach ¥730.0 billion, up ¥80.0 billion from the initial forecast for
Slide 6: Cash Flow Allocation Under Midterm Corporate Strategy 2024
February 3, 2023 Mitsubishi Corporation Cash Flow Allocation Under Midterm Corporate Strategy 2024 (First Nine Months of FY2022) ➢ Underlying operating CF is making solid progress. ➢ In order to increase enterprise value, we will allocate adjusted FCF after shareholder returns to investments and/or
Slide 7: Progress of Midterm Corporate Strategy 2024 Investment Plan
February 3, 2023 Mitsubishi Corporation Progress of Midterm Corporate Strategy 2024 Investment Plan (First Nine Months of FY2022) ➢ Investment in maintaining/expanding our earnings base is progressing in line with Midterm Corporate Strategy 2024. ➢ Regarding EX-related investments, steady investment
Slide 8: Progress of Midterm Corporate Strategy 2024 (Nine Months Ended December 2022)
February 3, 2023 Mitsubishi Corporation Progress of Midterm Corporate Strategy 2024 (Nine Months Ended December 2022) Expanding • Expanded revenues in Automotive & Mobility Earnings Base • Agreed to establish new JV in functional materials (TOYOBO MC Corporation) with Toyobo (Business will start Apr
Slide 9: Shareholder Returns
February 3, 2023 Mitsubishi Corporation Shareholder Returns The total payout for FY2022, combining dividends and share buybacks, will be approximately ¥430.0 bn, which includes ¥70.0 bn of share buybacks released on Nov. 8. Dividends The dividend per share will be increased to ¥180, reflecting the s
Slide 10: Progress of Quantitative Targets
February 3, 2023 Mitsubishi Corporation Progress of Quantitative Targets Quantitative Targets of Midterm Corporate Strategy 2024 Net Income/CF Maintain/Improve Capital Efficiency Ensuring Financial Soundness Consolidated net income (FY2024) ¥800.0 Billion Maintain High Single-A Credit Rating Double-
Slide 11: Detailed Results for the First Nine Months of FY2022
February 3, 2023 Mitsubishi Corporation 2 Detailed Results for the First Nine Months of FY2022 Copyright © 2023 Mitsubishi Corporation 10
Slide 12: Year-over-Year Net Income by Segment
February 3, 2023 Mitsubishi Corporation Year-over-Year Net Income by Segment Consolidated Net Income: First nine months of FY2021: 644.8 (Billions of Yen) First nine months of FY2022: 955.8 [YoY +311.0] FY21 ■ Natural Gas FY21 ■ Automotive & Mobility 85.1 85.8 3Q Increased earnings in the LNG-relate
Slide 13: Forecast for FY2022 by Segment
February 3, 2023 Mitsubishi Corporation Forecast for FY2022 by Segment Consolidated Net Income: Forecast released on November 8: 1,030.0 (Billions of Yen) Revised forecast: 1,150.0 [Revised +120.0] Rlsd. ■ Natural Gas Rlsd. ■ Automotive & Mobility 132.0 133.0 On 11/8 Increased earnings and dividends
Slide 14: (Reference) Market Conditions
February 3, 2023 Mitsubishi Corporation (Reference) Market Conditions Foreign Exchange, Commodity Prices and Interest Rates Consolidated net Forecast for FY2022 Forecast for FY2022 First nine months of FY2022 Change income sensitivities (Released Nov. 8)*1 (Revised) *1 FY2022 for FY2022 Foreign Exch
Slide 15: Supplementary Information of Consolidated Financial Statements
February 3, 2023 Mitsubishi Corporation 3 Supplementary Information of Consolidated Financial Statements Copyright © 2023 Mitsubishi Corporation 14
Slide 16: Breakdown of Consolidated Net Income
February 3, 2023 Mitsubishi Corporation Breakdown of Consolidated Net Income First Nine Months of First Nine Months of Revised Forecast for Forecast for Change FY2022 FY2022 FY2021 FY2022 (Feb. 3) (Nov. 8) Net Income Net Income Net Income One-off Total One-off Total One-off Total Total Progress Tota
Slide 17: Major Items by Segment (Current Period)
February 3, 2023 Mitsubishi Corporation Major Items by Segment (Current Period) (Billions of Yen) Petroleum Automotive MAJOR BALANCE SHEET ITEMS Natural Industrial & Mineral Industrial Food Consumer Power Urban & Others Total [3Q End FY2022] Gas Materials Chemicals Resources Infrastructure Mobility
Slide 18: Major Items by Segment (Previous Period)
February 3, 2023 Mitsubishi Corporation Major Items by Segment (Previous Period) (Billions of Yen) Petroleum Automotive MAJOR BALANCE SHEET ITEMS Natural Industrial & Mineral Industrial Food Consumer Power Urban & Others Total [Year End FY2021] Gas Materials Chemicals Resources Infrastructure Mobili
Slide 19: Major Index and Performances of Subsidiaries and Affiliates
February 3, 2023 Mitsubishi Corporation Major Index and Performances of Subsidiaries and Affiliates MAJOR INDEX ROE & ROA Year End 3Q End FY2022 Change FY2021 Change FY2021 FY2022 (Forecast) Investment leverage ratio *1 38.0% 30.2% (7.8%) ROE *3 15.0% 15.4% 0.4% Current ratio 130.2% 129.0% (1.2%) RO
Slide 20: Supplementary Information of Consolidated Balance Sheet
February 3, 2023 Mitsubishi Corporation Supplementary Information of Consolidated Balance Sheet ASSETS (Billions of Yen) Year End 3Q End Accounts with material changes Change Remarks FY2021 FY2022 Current assets 9,531.0 9,486.3 (44.7) Trade and other receivables 4,283.2 4,427.3 144.1 … Higher prices
Slide 21: Supplementary Information of Consolidated Income Statement / Cash Flow Statement
February 3, 2023 Mitsubishi Corporation Supplementary Information of Consolidated Income Statement / Cash Flow Statement INCOME STATEMENTS (Billions of Yen) First Nine Months First Nine Months Accounts with material changes of FY2021 of FY2022 Change Selling, general and administrative expenses (1,0
Slide 22: Supplementary Information by Segment (Financials)
February 3, 2023 Mitsubishi Corporation 4 Supplementary Information by Segment （Financials） 【Notes for Equity in Earnings of Subsidiaries and Affiliates】 • Material subsequent events are included when subsidiaries and affiliates have different reporting periods from Parent‘s (April to March). • "Equ
Slide 23: Natural Gas Group
February 3, 2023 Mitsubishi Corporation Natural Gas Group (Billions of Yen) Summary of Net Income 1Q 2Q 3Q 4Q Forecast (Revised) First Nine Months First Nine Months 170.0 Change Remarks of FY2021 of FY2022 150.0 54.4 One-off 5.2 4.3 (0.9) 105.1 Increased earnings in the LNG-related business, Net Inc
Slide 24: Industrial Materials Group
February 3, 2023 Mitsubishi Corporation Industrial Materials Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast (Revised) First Nine Months First Nine Months 62.0 Change Remarks 60.0 of FY2021 of FY2022 10.2 One-off - 1.4 1.4 36.8 14.5 Increased earnings in the
Slide 25: Petroleum & Chemicals Solution Group
February 3, 2023 Mitsubishi Corporation Petroleum ＆ Chemicals Solution Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast (Revised) First Nine Months First Nine Months Change Remarks 50.0 41.0 of FY2021 of FY2022 40.3 40.0 3.6 One-off (1.6) 1.9 3.5 3.3 1.7 Net
Slide 26: Mineral Resources Group
February 3, 2023 Mitsubishi Corporation Mineral Resources Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast (Revised) First Nine Months First Nine Months 420.7 442.0 Change Remarks 450.0 of FY2021 of FY2022 56.9 350.0 172.7 63.6 One-off 11.8 4.7 (7.1) 66.7 Net
Slide 27: Industrial Infrastructure Group
February 3, 2023 Mitsubishi Corporation Industrial Infrastructure Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast (Revised) 45.0 First Nine Months First Nine Months Change Remarks 31.0 of FY2021 of FY2022 35.0 17.3 5.5 One-off (3.8) - 3.8 25.0 13.1 8.1 Net I
Slide 28: Automotive & Mobility Group
February 3, 2023 Mitsubishi Corporation Automotive ＆ Mobility Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast (Revised) First Nine Months First Nine Months 140.0 Change Remarks 150.0 150.0 of FY2021 of FY2022 106.8 21.2 One-off 0.3 (3.5) (3.8) 100.0 33.3 100
Slide 29: Food Industry Group
February 3, 2023 Mitsubishi Corporation Food Industry Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast (Revised) First Nine Months First Nine Months 79.3 Change Remarks 80.0 8.0 68.0 of FY2021 of FY2022 60.0 27.9 One-off (4.8) 2.6 7.4 26.4 Net Income Decrease
Slide 30: Consumer Industry Group
February 3, 2023 Mitsubishi Corporation Consumer Industry Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast (Revised) First Nine Months First Nine Months 21.0 24.0 Change Remarks 30.0 of FY2021 of FY2022 20.0 10.2 6.6 One-off 1.3 (4.3) (5.6) Net Income Impairm
Slide 31: Power Solution Group
February 3, 2023 Mitsubishi Corporation Power Solution Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast (Revised) First Nine Months First Nine Months 50.0 Change Remarks of FY2021 of FY2022 50.5 55.0 One-off (3.6) (5.1) (1.5) Losses on valuation of the electr
Slide 32: Urban Development Group
February 3, 2023 Mitsubishi Corporation Urban Development Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast (Revised) First Nine Months First Nine Months 123.0 Change Remarks of FY2021 of FY2022 1.7 10.0 One-off (9.4) 81.2 90.6 90.0 6.7 Net Income Gains on sal
Slide 33: Supplementary Information by Segment (Operational Data)
February 3, 2023 Mitsubishi Corporation 4 Supplementary Information by Segment （Operational Data） Copyright © 2023 Mitsubishi Corporation 32
Slide 34: Global Energy Resources Business
February 3, 2023 Mitsubishi Corporation Global Energy Resources Business Natural Gas Group Mitsubishi Corporation’s Growth Outlook of Reserves of Oil and Gas *1 LNG Equity Capacity *2 （ As of Dec 31, 2021） Unit: MTPA (Million Ton Per Annum) 0.228 1.60 billion barrels 1.372 Natural Gas *1 Oil equival
Slide 35: Involvement in LNG Projects
February 3, 2023 Mitsubishi Corporation Involvement in LNG Projects Natural Gas Group *1 Business Segment: ＜Existing Projects in Production＞ A Investment in exploration & development (upstream), B A B Investment in liquefaction plant, C C Marketing and/or import agent, :D Shipping Beginning Annual P
Slide 36: Global Mineral Resources Business
February 3, 2023 Mitsubishi Corporation Global Mineral Resources Business Mineral Resources Group Product Project Country Annual Production Capacity *1 Main Partners MC's Share Metallurgical BMA Australia Metallurgical Coal, etc., 60 mil. mt *2 BHP 50.00% Coal Escondida Chile Copper 1,200 kt BHP, Ri
Slide 37: Metallurgical Coal Business
February 3, 2023 Mitsubishi Corporation Metallurgical Coal Business Mineral Resources Group BMA Annual Production and Sales Volume (50% Basis) * （mil. mt） Apr-Jun Jul-Sep Oct-Dec Jan-Mar 40.0 • BMA production in Oct-Dec 2022 increased by 10% to 7.0 mil. mt on 31.7 31.2 30.2 29.5 a year on year basis
Slide 38: Copper Business
February 3, 2023 Mitsubishi Corporation Copper Business Mineral Resources Group Equity Share Production Volume and Growth Outlook （kt） Jan-Mar Apr-Jun Jul-Sep Oct-Dec (Due to rounding, the quarterly figures do not necessarily add up to the total annual figures.) CY2020 CY2021 CY2022 After CY2023 ima
Slide 39: Global Automobile Business (MMC・MFTBC-Related)
February 3, 2023 Mitsubishi Corporation 自動車事業本部の世界展開図 Global Automobile Business (MMC・MFTBC-Related) Automotive & Mobility Group GMMC / (As of December 31, 2022) MCEB MCBR MMCR GMMSC（Changsha） Automobile Finance Automobile Production/Distributor Finance Distributor Country/Region Germany HLL SAME ①
Slide 40: Global Automobile Business (Isuzu-Related)
February 3, 2023 Mitsubishi Corporation Global Automobile Business (Isuzu-Related) Automotive＆Mobility Group LCV: Light Commercial Vehicle CV: Commercial Vehicle (As of December 31, 2022) Isuzu vehicle sales ISD IPC ① Overall Demand Germany, Austria, Production/ Czech ② CV and LCV sales of MC’s Dist
Slide 41: Salmon Farming Business
February 3, 2023 Mitsubishi Corporation Salmon Farming Business Food Industry Group Cermaq Norway Cermaq 82,300 Canada 20,900 Europe 1,360,000 Russia North 142,000 America Japan 767,000 287,600 Other South Asia America 377,400 219,000 Consumption Cermaq Sales Volume Cermaq (Market Size) （by region）
Slide 42: Electric Power Business
February 3, 2023 Mitsubishi Corporation Electric Power Electric Business Power Business Power Power Solution Solution GroupGroup Eneco (Netherlands) An integrated energy company Americas mainly active in the Netherlands, Belgium and Germany Japan Diamond Generating Diamond Transmission Mitsubishi Co
Slide 43: Urban Development & Real Estate Business
February 3, 2023 Mitsubishi Corporation Urban Development & Real Estate Business Urban Development Group 【Development】 【Development】 China Condominiums Philippines Condominiums, Japan Landed Homes, Offices Europe 【Development】 Industrial Properties, 【Asset Management】 Retail Properties, Hotels, Real