Mitsubishi Electric Corp. · TSE:6503
Mitsubishi Electric — Q2 FY2026 Earnings Presentation
28 slides from Mitsubishi Electric's earnings presentation, Oct 31, 2025
Slide 1: Consolidated Financial Results Briefing for the Second Quarter of Fiscal 2026
Consolidated Financial Results Briefing for the Second Quarter of Fiscal 2026 MITSUBISHI ELECTRIC CORPORATION October 31, 2025
Slide 2: Contents
Contents 1. Key Points P2 2. Q2 FY26 Financial Results P4 3. FY26 Forecast P18 4. Supplementary Materials P20 4-1. Revenue and Operating Profit by Segment P21 4-2. Revenue and Operating Profit by Segment (Forecast) P23 4-3. Order Trends of Mass Production Businesses P25 1
Slide 3: Key Points
1 Key Points Corporation
Slide 4: Key Points
Key Points H1 (*1) FY26: Revenue ¥2,732.5 bn (+¥88.9 bn YoY), Operating Profit ¥224.3 bn (+¥47.6 bn YoY) Although impacted by the stronger yen, both revenue and operating profit increased YoY, due to increases in sales mainly in the Infrastructure segment, and the progress of initiatives for imp
Slide 5: Q2 FY26 Financial Results
2 Q2 FY26 Financial Results 4
Slide 6: Consolidated Financial Results (H1)
Consolidated Financial Results (H1) H1 FY25 H1 FY26 YoY Billions of yen Revenue 2,643.5 2,732.5 +88.9 103% Operating profit 176.6 224.3 +47.6 127% % 6.7% 8.2% +1.5pt - Profit before income taxes 176.7 253.9 +77.2 144% Net profit attributable to 118.6 189.3 +70.7 160% Mitsubishi Electric Corp. stockh
Slide 7: Consolidated Financial Results (Q2)
Consolidated Financial Results (Q2) Q2 FY25 Q2 FY26 YoY Billions of yen Revenue 1,357.1 1,419.6 +62.4 105% Operating profit 118.0 112.3 -5.6 95% % 8.7% 7.9% -0.8pt - Profit before income taxes 100.6 129.8 +29.2 129% Net profit attributable to 69.5 98.4 +28.9 142% Mitsubishi Electric Corp. stockholde
Slide 8: Factors Leading to Changes in Revenue and Operating Profit (H1)
Factor s Leading to Changes in Revenue and Op erating Profit (H1) Billions of yen Revenue +120.0 2,732.5 2,643.5 -31.0 Increase: ・Infrastructure ・Life, etc. H1 FY25 Exchange rate Volume changes, H1 FY26 fluctuation etc. Operating Profit +62.7 224.3 176.6 Increase: -15.0 ・Volume changes ・Price improv
Slide 9: Consolidated Statement of Profit or Loss (H1)
Consolidated Statement of Profit or Loss (H1) Billions of yen H1 FY25 H1 FY26 YoY Revenue 2,643.5 100.0% 2,732.5 100.0% +88.9 Cost of sales 1,832.8 69.3% 1,865.5 68.3% +32.6 Selling, general and administrative expenses 635.2 24.0% 662.4 24.2% +27.1 Other profit (loss) 1.2 0.0% 19.8 0.7% +18.5 Operat
Slide 10: Consolidated Statement of Profit or Loss (Q2)
Consolidated Statement of Profit or Loss (Q2) Billions of yen Q2 FY25 Q2 FY26 YoY Revenue 1,357.1 100.0% 1,419.6 100.0% +62.4 Cost of sales 919.2 67.7% 967.9 68.2% +48.7 Selling, general and administrative expenses 319.2 23.5% 340.9 24.0% +21.7 Other profit (loss) -0.6 -0.1% 1.6 0.1% +2.3 Operating
Slide 11: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position As of As of Change from Billions of yen March 31, 2025 September 30, 2025 March 31, 2025 Total assets 6,375.6 6,444.7 +69.0 Cash and cash equivalents 757.3 862.8 +105.5 Trade receivables and contract assets 1,490.2 1,351.5 -138.6 Inventories 1,244.9 1,268
Slide 12: Consolidated Statement of Cash Flows (H1)
Consolidated Statement of Cash Flow s (H1) Billions of yen H1 FY25 H1 FY26 YoY Cash flows from operating activities 271.4 344.7 +73.2 Cash flows from investing activities -118.5 -46.7 +71.7 Free cash flow 152.9 297.9 +145.0 Cash flows from financing activities -152.1 -206.7 -54.5 Cash and cash equiv
Slide 13: Consolidated Financial Results by Business Segment (H1)
Consolidated Financial Results b y Business Segment (H1) Billions of yen Revenue +83.5 +44.4 +3.5 +26.6 2,732.5 2,643.5 -5.5 -11.0 -52.5 H1 FY25 Infrastructure Industry Life Digital Semiconductor Others Eliminations H1 FY26 & Mobility Innovation & Device and Corporate Operating Profit +11.2 +17.4 +3
Slide 14: Financial Results (H1): Infrastructure
Consolidated Financial Results (H1): Infrastructure Billions of yen Revenue (YoY) Operating profit (YoY) Operating profit margin (YoY) Infrastructure Revenue Operating 582.3(+83.5) 38.8(+21.8) 6.7%(+3.3pt) profit Revenue (YoY) Operating profit (YoY) Operating profit margin (YoY) 220.7(+39.2) 18.0(+1
Slide 15: Financial Results (H1): Industry & Mobility
Consolidated Financial Results (H1): Industry & Mobility Billions of yen Industry & Revenue (YoY) Operating profit (YoY) Operating profit margin (YoY) Operating Revenue Mobility 800.8(-11.0) 55.3(+11.2) 6.9%(+1.5pt) profit Revenue (YoY) Operating profit (YoY) Operating profit margin (YoY) 378.0(+26.
Slide 16: Financial Results (H1): Life
Consolidated Financial Results (H1): Life Billions of yen Revenue (YoY) Operating profit (YoY) Operating profit margin (YoY) Operating Life Revenue 1,143.7(+44.4) 92.9(-6.8) 8.1%(-1.0pt) profit Revenue (YoY) Operating profit (YoY) Operating profit margin (YoY) 326.4(+7.6) 26.9(+3.8) 8.2%(+1.0pt) T
Slide 17: Financial Results (H1): Digital Innovation and Semiconductor & Device
Consolidated Financial Results (H1): Digital Innovation and Semiconductor & Device Billions of yen Revenue (YoY) Operating profit (YoY) Operating profit margin (YoY) Operating Revenue 71.8(+3.5) 3.7(-0.5) 5.1%(-1.1pt) profit The market saw robust demand for updates to legacy systems and digital tr
Slide 18: Revenue by Location of Customers (H1)
Revenue by Location of Customer s (H1) H1 FY26 H1 FY25 H1 FY26 YoY Billions of yen Overseas North 53% America Japan 1,223.9 1,285.2 +61.2 105% 15% China Japan 10% Consolidated 47% Overseas 1,419.6 1,447.2 +27.6 102% Asia Total (excl. China) 12% Europe North America 405.3 425.8 +20.4 105% 14% Others
Slide 19: FY26 Forecast
3 FY26 Forecast 18
Slide 20: FY26 Forecast
FY26 Forecast FY26 forecast Changes from FY25 YoY Billions of yen Previous (*1) As of Q2 previous forecast Revenue 5,521.7 5,400.0 5,670.0 103% +270.0 Operating profit 391.8 430.0 430.0 110% - % 7.1% 8.0% 7.6% +0.5pt -0.4pt Profit before income taxes 437.2 470.0 500.0 114% +30.0 Net profit attributa
Slide 21: Supplementary Materials
4 Supplementar y Materials 20
Slide 22: Revenue and Operating Profit by Segment (H1)
Revenue and Operating Profit b y Segment (H1) H1 FY25 H1 FY26 YoY Operating Operating profit Operating Operating profit Operating Operating profit Revenue profit margin Revenue Profit margin Revenue profit margin Billions of yen Infrastructure 498.7 17.0 3.4% 582.3 38.8 6.7% +83.5 +21.8 +3.3pt Publi
Slide 23: Revenue and Operating Profit by Segment (Q2)
Revenue and Operating Profit b y Segment (Q2) Q2 FY25 Q2 FY26 YoY Operating Operating profit Operating Operating profit Operating Operating profit Revenue profit margin Revenue Profit margin Revenue profit margin Billions of yen Infrastructure 281.4 13.3 4.7% 316.4 20.8 6.6% +35.0 +7.4 +1.9pt Public
Slide 24: Revenue and Operating Profit by Segment (Forecast)
Revenue and Operating Profit b y Segment (Forecast) FY25 Previous(*) FY26 forecast FY26 forecast YoY Changes from previous forecast Operating Operating Operating Operating Operating Operating profit Operating profit Operating profit Operating profit Operating profit Revenue profit Revenue profit Rev
Slide 25: FY26 Forecast (Factors Leading to Changes)
FY26 Forecast (Factor s Leading to Changes) Billions of yen Revenue +224.3 5,670.0 5,521.7 -76.0 Increase: ・Infrastructure ・Life Decrease: ・Industry & Mobility, etc. FY25 Exchange rate Volume changes, FY26 fluctuation etc. Operating Profit +105.2 430.0 391.8 Increase: -40.0 -27.0 ・Volume changes app
Slide 26: Order Trends of Mass Production Businesses
Order Trends of Mass Production Businesses FY25 FY26 Q1 Q2 Q3 Q4 Q1 Q2 YoY +8% +15% +33% +28% +23% +15% Factory Automation Systems QoQ +7% +5% +2% +13% +2% -2% YoY -13% -24% +29% -28% -21% +5% Semiconductor & Device QoQ -16% -1% +10% -22% -8% +31% *Automotive Equipment and Air Conditioning Systems &
Slide 27: Note: This document has been translated from the Japanese original
While the statements herein, including the forecasts regarding the Mitsubishi Electric Group, are based on assumptions considered to be reasonable under the circumstances on the date of announcement, actual results may differ significantly from forecasts. The main factors materially affecting the ex
Slide 28: MITSUBISHI ELECTRIC
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