◆ Inside the Latest Quarter (April-June 2026)

Mitsubishi Corporation (8058) — the variant view

Mitsubishi's first quarter rose 47% on higher prices and several one-off gains, and mining alone earned almost half its annual forecast.

📈 8058 valuation, revenue & earnings — P/E, P/S, revenue, EPS →

Mitsubishi's April-June 2026 quarter was strong. Revenue rose 22.8% to ¥5,180,999 million and net income rose 47.0% to ¥298,524 million1. Earnings per share were ¥81.53 against ¥51.592, a larger rise than net income because of the buyback. Operating cash flow was ¥431,756 million against ¥108,184 million3.

Net income by segment, April-June (¥ bn)Mineral Resources 202686.6 (27.5)Energy & Power 202671.9 (40.7)Food Industry 202636.2 (21.8)Mobility 202631.2 (27.1)Urban Dev. & Infra 202629.6 (36.3)Smart-Life Creation 202620.5 (27.8)Prior-year quarter in brackets, restated; Mitsubishi results, April-June 2026
Mining and energy up sharply; consumer and urban development down.

The company attributes the increase in revenue and gross profit to higher market prices4. Other gains included a revaluation gain when Chiyoda became an equity-method affiliate, gains related to sales in the Australian steelmaking coal business, higher dividends from resource investments, a gain on sale in an overseas food materials business and a litigation settlement at Mitsubishi Shokuhin5.

By segment, on the new seven-segment basis, Energy & Power Solution earned ¥71.9 billion against ¥40.7 billion, Mineral Resources ¥86.6 billion against ¥27.5 billion, Food Industry ¥36.2 billion against ¥21.8 billion, and Mobility ¥31.2 billion against ¥27.1 billion6. Urban Development & Infrastructure fell to ¥29.6 billion from ¥36.3 billion and Smart-Life Creation to ¥20.5 billion from ¥27.8 billion7.

The quarter delivered 27.1% of the ¥1.1 trillion guidance8, which the company left unchanged9. Equity attributable to owners was ¥9,635.2 billion at June 202610.

Free cash flow in the quarter was ¥185.3 billion, against negative ¥81.3 billion a year earlier11. Net interest-bearing debt was ¥3,939.8 billion at the end of June12, slightly higher than at March.

The measure for the rest of the year is Mineral Resources. Its ¥86.6 billion in one quarter is almost half of the ¥180.0 billion forecast for the year13, which says either the forecast is conservative or the quarter's gains were one-off.

References
  1. ReportedRevenue rose 22.8% to ¥5,180,999 million and net income rose 47.0% to ¥298,524 million.
    Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗
  2. ReportedEarnings per share were ¥81.53 against ¥51.59, a larger rise than net income because of the buyback.
    Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗
  3. ReportedOperating cash flow was ¥431,756 million against ¥108,184 million.
    Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗
  4. ReportedThe company attributes the increase in revenue and gross profit to higher market prices.
    Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗
  5. ReportedOther gains included a revaluation gain when Chiyoda became an equity-method affiliate, gains related to sales in the Australian steelmaking coal business, higher dividends from resource investments, a gain on sale in an overseas food materials business and a litigation settlement at Mitsubishi Shokuhin.
    Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗
  6. ReportedBy segment, on the new seven-segment basis, Energy & Power Solution earned ¥71.9 billion against ¥40.7 billion, Mineral Resources ¥86.6 billion against ¥27.5 billion, Food Industry ¥36.2 billion against ¥21.8 billion, and Mobility ¥31.2 billion against ¥27.1 billion.
    Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗
  7. ReportedUrban Development & Infrastructure fell to ¥29.6 billion from ¥36.3 billion and Smart-Life Creation to ¥20.5 billion from ¥27.8 billion.
    Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗
  8. Moat Explorer calcThe quarter delivered 27.1% of the ¥1.1 trillion guidance, which the company left unchanged.
    Moat Explorer calculation from Mitsubishi Corporation's reported figures. Equity-method profit over net profit: 467.9 / 800.5 = 58.5%. Mineral Resources plus Environmental Energy over segment total: (204.5 + 160.9) / 752.1 = 48.6%. Energy & Power (Environmental Energy plus Power Solution): 238.8 + 97.9 = 336.7 (year to March 2024), 198.6 - 15.6 = 183.0 (2025), 160.9 + 43.4 = 204.3 (2026). Other and adjustments: 51.2 - 9.2 = 42.0 (2025), 51.8 - 3.5 = 48.3 (2026). Trailing twelve months to June 2026: net profit 800.5 + 298.5 - 203.1 = 895.9; revenue 19,878.3; EPS 210.92 + 81.53 - 51.59 = 240.86. Progress against guidance: 298.5 / 1,100.0 = 27.1%. Share price change since March: 4,811 / 5,317 - 1 = -9.5%. Berkshire's market value over cost: 9,207 / 4,248 = 2.17 times; dividend on cost 273 / 4,248 = 6.4%. Mitsubishi Development profit: 190.2, 132.9, 8.3. Copper profit growth: 149.9 / 63.8 = 2.35 times. Segment profit over segment assets, year to March 2026: Mineral Resources 204.5 / 5,995.2 = 3.4%; Energy & Power 204.3 / 6,079.0 = 3.4%; Smart-Life Creation 91.0 / 2,745.5 = 3.3%; Food Industry 83.3 / 2,334.1 = 3.6%; Urban Development & Infrastructure 85.1 / 2,173.8 = 3.9%; Mobility 57.6 / 1,942.7 = 3.0%; Materials Solution 26.3 / 1,971.4 = 1.3%. Adjusted net income growth implied by guidance: (1,100.0 - 280.0) / 703.7 = 1.17. Split-adjusted dividend growth: 125 / 44 = 2.8 times. Buyback share of shares: 318.4 / 4,028.9 = 7.9%. Data-centre capacity growth: 168 / 29 = 5.8 times. Average buyback price: about ¥1,000,000 million / 318.4 million shares = about ¥3,141. Lawson return on carrying value: 28.8 / 502.6 = 5.7%. Copper profit excluding the Anglo American Sur reversal: 149.9 - 53.2 = 96.7. Interest cost of one percentage point on ¥5,746.9 billion: about ¥57 billion. Eneco goodwill cover: 167.0 / 31.0 = 5.4 years of profit. Aethon expected return: ¥50-60 billion on about ¥800 billion = 6-8%. Oil assumption effect: (78 - 70) x ¥2.4 billion = about ¥19 billion. Market value over adjusted net income: 17,620 / 703.7 = 25 times. Dividends paid: 408,458 / 289,692 = 1.41 (up 41%) while net income 800.5 / 964.0 = 0.83 (down 17%). MDP return on plant: 8.3 / 1,160.6 = 0.7%. — FY to March 2026 · publ. September 2026 · source ↗
    Method: Arithmetic on figures reported in Mitsubishi Corporation's results, presentations and market data; operands shown in the source line.
  9. ReportedThe quarter delivered 27.1% of the ¥1.1 trillion guidance, which the company left unchanged.
    Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗
  10. ReportedEquity attributable to owners was ¥9,635.2 billion at June 2026.
    Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗
  11. ReportedFree cash flow in the quarter was ¥185.3 billion, against negative ¥81.3 billion a year earlier.
    Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗
  12. ReportedNet interest-bearing debt was ¥3,939.8 billion at the end of June, slightly higher than at March.
    Mitsubishi Corporation, Financial Highlights for the three months ended June 30, 2026 (IFRS) - revenues, profit, segment results on seven segments, cash flows, the balance sheet and share count after the buyback cancellation. — April-June 2026 · publ. 6 August 2026 · source ↗
  13. ReportedIts ¥86.6 billion in one quarter is almost half of the ¥180.0 billion forecast for the year, which says either the forecast is conservative or the quarter's gains were one-off.
    Mitsubishi Corporation, FY2025 results and FY2026 forecast presentation (1 May 2026) - capital recycling and one-time items and adjusted consolidated net income. — FY to March 2026 · publ. 1 May 2026 · source ↗
Sources
Generated September 24, 2026