Mitsubishi Corporation · TSE:8058
Mitsubishi — Mitsubishi Corp Ord — Q1 2023 Earnings Presentation
40 slides from Mitsubishi's earnings presentation, Aug 3, 2023
Slide 1: Results for the First Three Months of FY2023 Presentation Materials
August 3, 2023 Mitsubishi Corporation Results for the First Three Months of FY2023 Presentation Materials August 3, 2023 Mitsubishi Corporation Forward-Looking Statements - This release contains forward-looking statements about Mitsubishi Corporation’s future plans, strategies, beliefs and performan
Slide 2: Contents
August 3, 2023 Mitsubishi Corporation Contents 1 Progress of Midterm Corporate Strategy 2024 2 Detailed Results for the First Three Months of FY2023 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
August 3, 2023 Mitsubishi Corporation 1 Progress of Midterm Corporate Strategy 2024 Copyright © 2023 Mitsubishi Corporation 2
Slide 4: Summary of Results for the First Three Months of FY2023
August 3, 2023 Mitsubishi Corporation Summary of Results for the First Three Months of FY2023 First three months First three months Forecast for FY2023 Change Progress of FY2022 of FY2023 (Released May 9) (Billions of Yen) Consolidated net income 534.0 317.7 (216.3) 920.0 35% Following record-high
Slide 5: Year-over-Year Changes
August 3, 2023 Mitsubishi Corporation Year-over-Year Changes Consolidated net income in the first three months of FY2023 was ¥317.7 billion, the second- highest ever, after last year’s ¥534.0 billion, reflecting steady earnings in many businesses. The main factor in the ¥216.3 billion year-over-
Slide 6: Cash Flow Allocation Under Midterm Corporate Strategy 2024
August 3, 2023 Mitsubishi Corporation Cash Flow Allocation Under Midterm Corporate Strategy 2024 (First Three Months of FY2023) Cash Flow (Reference) Cumulative First Three Months results under Midterm (Three-year plan for Midterm Corporate Strategy 2024) of FY2023 Details Corporate Strategy 2024 Re
Slide 7: (Reference) Progress of Quantitative Targets
August 3, 2023 Mitsubishi Corporation (Reference) 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 Rati
Slide 8: Detailed Results for the First Three Months of FY2023
August 3, 2023 Mitsubishi Corporation 2 Detailed Results for the First Three Months of FY2023 Copyright © 2023 Mitsubishi Corporation 7
Slide 9: (Details) Year-over-Year Net Income by Segment
August 3, 2023 Mitsubishi Corporation (Details) Year-over-Year Net Income by Segment Consolidated Net Income: First three months of FY2022: 534.0 (Billions of Yen) First three months of FY2023: 317.7 [YoY (216.3)] ■ Natural Gas ■ Automotive & Mobility Trading losses in the LNG sales Decreased earnin
Slide 10: (Details) Market Conditions
August 3, 2023 Mitsubishi Corporation (Details) Market Conditions Foreign Exchange, Commodity Prices and Interest Rates First three months of Forecast for FY2023 *1 Consolidated net income Change FY2023 (Released May 9) sensitivities for FY2023 Foreign Exchange (JPY/US$) 137.49 130.00 +7.49 ¥5.0 bil
Slide 11: Supplementary Information of Consolidated Financial Statements
August 3, 2023 Mitsubishi Corporation 3 Supplementary Information of Consolidated Financial Statements 【Notes for figures of previous fiscal years】 • In accordance with reorganization and changes in accounting policies, etc., implemented the current fiscal year, the figures in the financial statemen
Slide 12: Breakdown of Consolidated Net Income
August 3, 2023 Mitsubishi Corporation Breakdown of Consolidated Net Income FY2022 FY2023 Forecast for Change 1Q 1Q FY2023 Net Income Net Income Net Income One-off Total One-off Total One-off Total Total Progress （Billions of Yen） excl. One-off excl. One-off excl. One-off Natural Gas ー 18.1 18.1 ー 49
Slide 13: Major Items by Segment (Current Period)
August 3, 2023 Mitsubishi Corporation Major Items by Segment (Current Period) [ MAJOR BALANCE SHEET ITEMS (FY2023 1Q) ] (Billions of Yen) Industrial Natural Industrial Chemicals Mineral Automotive Food Consumer Power Urban Infra- Others Total Gas Materials Solution Resources structure & Mobility Ind
Slide 14: Major Items by Segment (Previous Period)
August 3, 2023 Mitsubishi Corporation Major Items by Segment (Previous Period) [ MAJOR BALANCE SHEET ITEMS (FY2022 End) ] (Billions of Yen) Industrial Natural Industrial Chemicals Mineral Automotive Food Consumer Power Urban Infra- Others Total Gas Materials Solution Resources structure & Mobility I
Slide 15: Major Index
August 3, 2023 Mitsubishi Corporation Major Index [Major Index] FY2022 FY2023 Change End 1Q End Investment leverage ratio *1 27.3% 26.9% (0.4%) Current ratio 136.1% 136.2% 0.1% Shareholders' equity ratio *2 36.4% 37.6% 1.2% Equity per share *2 /BPS (yen) 5,645 6,018 373 Total assets (Billion yen) 22
Slide 16: Supplementary Information of Consolidated Balance Sheet
August 3, 2023 Mitsubishi Corporation Supplementary Information of Consolidated Balance Sheet [ Consolidated Balance Sheet ] (Billions of Yen) FY2022 FY2023 Accounts with material changes Change Remarks End 1Q End Total assets 22,147.5 22,551.3 403.8 Current assets 9,109.3 9,006.6 (102.7) Cash and c
Slide 17: Supplementary Information of Consolidated Income Statement / Performances of Subsidiaries and Affiliates
August 3, 2023 Mitsubishi Corporation Supplementary Information of Consolidated Income Statement / Performances of Subsidiaries and Affiliates [ Consolidated Income Statement ] [Attributable Incomes/Losses of Subsidiaries and Affiliates] (Billions of Yen) (Billions of Yen) FY2022 FY2023 FY2022 FY202
Slide 18: Supplementary Information of Cash Flow Statement
August 3, 2023 Mitsubishi Corporation Supplementary Information of Cash Flow Statement [ Consolidated Cash Flow Statement ] (Billions of Yen) FY2022 FY2023 Accounts with material changes Change Remarks 1Q 1Q Deacreased operating income and increased payment of Cash flows from operating activities 72
Slide 19: Supplementary Information by Segment (Financials)
August 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). • "Equit
Slide 20: Natural Gas Group
August 3, 2023 Mitsubishi Corporation Natural Gas Group (Billions of Yen) Summary of Net Income 1Q 2Q 3Q 4Q Forecast FY2022 FY2023 200.0 Change Remarks 170.6 1Q 1Q 146.0 150.0 One-off － － － 55.0 Net Income Trading losses in the LNG sales business in 18.1 49.5 31.4 100.0 96.5 excl. One-off the previo
Slide 21: Industrial Materials Group
August 3, 2023 Mitsubishi Corporation Industrial Materials Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast FY2022 FY2023 70.0 62.0 Change Remarks 1Q 1Q 60.0 10.2 One-off － － － 50.0 46.0 14.5 Net Income 40.0 19.2 19.1 (0.1) ー 26.9 excl. One-off 30.0 18.1 Tota
Slide 22: Chemicals Solution Group
August 3, 2023 Mitsubishi Corporation Chemicals Solution Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast FY2022 FY2023 35.0 Change Remarks 29.5 1Q 1Q 30.0 5.7 25.0 One-off 4.5 － (4.5) Deduction of deferred tax liabilities in the 25.0 0.9 Net Income 20.0 6.9
Slide 23: Mineral Resources Group
August 3, 2023 Mitsubishi Corporation Mineral Resources Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast FY2022 FY2023 500.0 Change Remarks 439.3 1Q 1Q 400.0 54.2 One-off 6.8 － (6.8) 63.6 298.0 Net Income Decreased earnings due to lower Australian 300.0 66.7
Slide 24: Industrial Infrastructure Group
August 3, 2023 Mitsubishi Corporation Industrial Infrastructure Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast 35.0 31.9 FY2022 FY2023 27.0 Change Remarks 30.0 1Q 1Q 6.4 25.0 One-off － － － 20.0 8.1 Net Income 18.2 9.4 8.8 (0.6) ー 15.0 excl. One-off 8.0 Tota
Slide 25: Automotive & Mobility Group
August 3, 2023 Mitsubishi Corporation Automotive ＆ Mobility Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast FY2022 FY2023 140.0 131.6 Change Remarks 8.9 1Q 1Q 120.0 110.0 100.0 33.3 One-off － (2.6) (2.6) Net Income Decreased earnings in the Russia-related 80
Slide 26: Food Industry Group
August 3, 2023 Mitsubishi Corporation Food Industry Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast FY2022 FY2023 90.0 Change Remarks 63.4 72.0 1Q 1Q 70.0 One-off 1.2 36.9 35.7 23.0 26.4 Net Income 50.0 excl. One-off 21.2 12.1 (9.1) Gains on sale of an affil
Slide 27: Consumer Industry Group
August 3, 2023 Mitsubishi Corporation Consumer Industry Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast FY2022 FY2023 40.0 Change Remarks 29.0 1Q 1Q 30.0 One-off (2.9) － 2.9 Increased earnings in the Convenience store 18.9 business and impairment losses on 2
Slide 28: Power Solution Group
August 3, 2023 Mitsubishi Corporation Power Solution Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast FY2022 FY2023 125.0 109.0 Change Remarks 1Q 1Q 100.0 61.9 One-off (1.7) (5.1) (3.4) Decreased earnings in the Overseas power 75.0 Net Income 63.5 100.6 excl.
Slide 29: Urban Development Group
August 3, 2023 Mitsubishi Corporation Urban Development Group (Billions of Yen) Profit Summaryand Loss of Net Summary Income 1Q 2Q 3Q 4Q Forecast 140.0 123.3 FY2022 FY2023 Change Remarks 120.0 7.0 1.7 1Q 1Q 10.0 100.0 One-off 84.1 － (84.1) Gains on sale of a real estate management 80.0 Net Income 20
Slide 30: Supplementary Information by Segment (Operational Data)
August 3, 2023 Mitsubishi Corporation 4 Supplementary Information by Segment (Operational Data) Copyright © 2023 Mitsubishi Corporation 29
Slide 31: Global Energy Resources Business Natural Gas Group
August 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, 2022） Unit: MTPA (Million Ton Per Annum) 0.208 1.613 1.405 billion barrels Natural Gas *1 Oil equivalen
Slide 32: Involvement in LNG Projects
August 3, 2023 Mitsubishi Corporation Involvement in LNG Projects Natural Gas Group *1 Business Segment: ＜Existing Projects in Production＞ A Investment in exploration & development (upstream), BB Investment in liquefaction plant, C C Marketing and/or import agent, :D Shipping Beginning Annual Produc
Slide 33: Global Mineral Resources Business Mineral Resources Group
August 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., 57 mil. mt *2 BHP 50.00% Coal Escondida Chile Copper 1,200 kt BHP, Rio
Slide 34: Metallurgical Coal Business
August 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 Apr-Jun 2023 increased by 4% to 8.5 mil. mt on a year on year basis. 30.2 29.5 28.7 28.1 •
Slide 35: Quellaveco Copper Business
August 3, 2023 Mitsubishi Corporation Copper Business Mineral Resources Group Equity Share Production Volume （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 CY2023 Total 227 Total 218 Total 248
Slide 36: Global Automobile Business (MMC・MFTBC-Related)
August 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 June 30, 2023) MCBR MMCR GMMSC（Changsha） Automobile Production/Distribution Finance Distribution Country/Region HLL SAME ① Overall Demand Russia （Shanghai） (Sh
Slide 37: Global Automobile Business (Isuzu-Related)
August 3, 2023 Mitsubishi Corporation Global Automobile Business (Isuzu-Related) Automotive ＆ Mobility Group LCV: Light Commercial Vehicle CV: Commercial Vehicle (As of June 30, 2023) Isuzu vehicle sales IPC ① Overall Demand Production/ ② CV and LCV sales of MC’s Distribution IMEX partner car maker
Slide 38: Salmon Farming Business
August 3, 2023 Mitsubishi Corporation Salmon Farming Business Food Industry Group Cermaq Norway Cermaq 82,300 Canada 10,600 Europe 1,224,900 Russia North 78,300 America Japan 711,000 248,000 Other South Asia America 364,900 197,100 Consumption Cermaq Sales Volume Cermaq (Market Size) （by region） Chi
Slide 39: Electric Power Business
August 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 Mitsubishi Corporation Energy Soluti
Slide 40: Urban Development & Real Estate Business
August 3, 2023 Mitsubishi Corporation Urban Development & Real Estate Business Urban Development Group 【Development】 Vietnam Multifamily, Student Housing, North Industrial Properties, 【Development】 America Medical Offices, Senior Living Large-Scale Urban Development, 【Asset Management】 Condominiums