Mitsubishi Heavy Industries, Ltd. (MHVYF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello. Allow me to provide an overview of our Q123-FI2024 financial results using these presentation materials. Since the materials have been released in advance, I will omit a detailed explanation and focus on the key takeaways while providing some additional details. The materials are organized according to the table of contents on slide 2. First, I would like to provide an overview of the financial results. Please refer to slide four and slide five. This slide shows the results in several key financial indicators and highlights of the results. Overall performance during Q3 was strong, which continued the trend from Q2. Order intake from last year. from FY2022 and FY2023 has increased significantly. This year exceeded even those high levels. So the increase of the order intake last year was in defense, which was the main driver of order growth in FY2023. Order intake in GTCC, aero engines, and metal machinery increased significantly while defense decreased. As we expect to book even more orders from now through the end of the fiscal year, we have raised our full-year forecast from 6 trillion yen to 6.4 trillion yen. Revenue increased in all segments, and both business profit and net income increased year on year. Based on our year-to-date performance, we have revised our full-year guidance for all major financial indicators. Moreover, order intake revenue and non-profit items sold record highs for a Q123 period. Slide 6 and beyond provide a little more detail on our financial results. Slide 7 includes information already provided, so I will forego an explanation. Slide 8 shows the balance sheet and cash flows. Total assets increased by 568.9 billion yen on the last year's end to 6,825.2 billion yen. Because the yen depreciated at the end of December 2024 compared t...