Mitsubishi Corp Ord (MSBHF) Q4 2024 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.796 This is Nakanashi, CEO, Mitsubishi Corporation. 00:00:02.796 -- 00:00:06.582 Thank you very much for participating in our earnings presentation meeting for the third 00:00:06.582 -- 00:00:09.764 quarter of fiscal year 2024. 00:00:13.794 -- 00:00:18.542 First, from my side, I will explain about this quarter's highlights 00:00:18.542 -- 00:00:21.584 and cash flow allocations. 00:00:28.094 -- 00:00:32.717 Please turn to page 3 of the presentation material. 00:00:34.162 -- 00:00:40.387 First, for the consolidated net income for the nine months ended December 31, 2024, 00:00:40.489 -- 00:00:44.655 was, excuse me, December 25, was 827.4 00:00:44.655 -- 00:00:49.300 billion yen. In the Japanese offshore wind power business, 00:00:49.300 -- 00:00:53.105 due to a dramatic change in the business environment, 00:00:53.105 -- 00:00:57.070 we have recorded impairment of 52.2 00:00:57.070 -- 00:00:59.631 billion yen. 00:01:00.055 -- 00:01:02.616 Based on the situation, 00:01:02.618 -- 00:01:08.245 we are conducting a downward revision for the power solution segment. 00:01:08.245 -- 00:01:13.331 However, as we have booked large gains coming from revaluations and sales 00:01:13.331 -- 00:01:15.411 of assets, 00:01:15.834 -- 00:01:20.859 and as we are expecting some segments to perform better compared to 00:01:20.859 -- 00:01:24.501 the outlook of our previous quarterly announcement. 00:01:25.317 -- 00:01:27.541 Accordingly, we 00:01:27.541 -- 00:01:32.669 expect we'll be able to achieve the 950 billion yen outlook for the full 00:01:32.669 -- 00:01:36.853 year that we have previously announced. 00:01:38.519 -- 00:01:43.463 The projects that have gone through impairments are three. 00:01:45.415 -- 00:01:50.703 one at the offshores of Noshiro City, ...