✦ Data Centres: From 29 to 168 MegawattsNarrow moat
Mitsubishi Corporation (8058) — the future bets
Mitsubishi has grown its Japanese data-centre capacity nearly sixfold in eight years, to a size that is still small.
Mitsubishi's Urban Development & Infrastructure segment runs eight data centres across three locations in Japan, and their power supply capacity for servers has grown from 29 megawatts in the year to March 2018 to 54, 113, 134 and 168 megawatts in the years since1. The company says it plans to expand its operational assets to support AI infrastructure2.
A data centre developer with land, power access and relationships with Japanese corporations has a real advantage in a country where suitable sites near power are scarce. The segment's profit rose from ¥39.8 billion to ¥85.1 billion in the year to March 20263, though much of the increase came from Chiyoda, the engineering company.
At 168 megawatts, the business is small against global operators. Its value is optionality on Japanese AI demand.
The data centres sit inside a segment that also holds Chiyoda, whose recovery drove most of the segment's profit in the latest year4. The segment's forecast for the current year is ¥75.0 billion5.
The measure is capacity growth. Another doubling in the next three years would make data centres a meaningful business; flat capacity would leave them a footnote.
Capacity rose from 29 to 168 megawatts and the company plans further expansion for AI.
The growth rate of the AI-infrastructure bet; another doubling would make it material.
Source: Mitsubishi Corporation results presentation, May 2026 ↗- ReportedMitsubishi's Urban Development & Infrastructure segment runs eight data centres across three locations in Japan, and their power supply capacity for servers has grown from 29 megawatts in the year to March 2018 to 54, 113, 134 and 168 megawatts in the years since.Mitsubishi Corporation, FY2025 results and FY2026 forecast presentation (1 May 2026) - the LNG, copper and steelmaking coal portfolios with stakes, capacities and production volumes, data centre capacity, the Thai and Indonesian automotive businesses, and Cermaq's salmon volumes. — FY to March 2026 · publ. 1 May 2026 · source ↗
- ReportedThe company says it plans to expand its operational assets to support AI infrastructure.Mitsubishi Corporation, FY2025 results and FY2026 forecast presentation (1 May 2026) - net income by segment and of major subsidiaries and affiliates, with ownership, and the forecast by segment. — FY to March 2026 · publ. 1 May 2026 · source ↗
- ReportedThe segment's profit rose from ¥39.8 billion to ¥85.1 billion in the year to March 2026, though much of the increase came from Chiyoda, the engineering company.Mitsubishi Corporation, Consolidated Financial Results for the year ended March 31, 2026 (IFRS) - the consolidated statements of income, financial position and cash flows, the eight-segment note, dividends and the forecast for the year to March 2027. — FY to March 2026 · publ. 1 May 2026 · source ↗
- ReportedThe data centres sit inside a segment that also holds Chiyoda, whose recovery drove most of the segment's profit in the latest year.Mitsubishi Corporation, FY2025 results and FY2026 forecast presentation (1 May 2026) - the LNG, copper and steelmaking coal portfolios with stakes, capacities and production volumes, data centre capacity, the Thai and Indonesian automotive businesses, and Cermaq's salmon volumes. — FY to March 2026 · publ. 1 May 2026 · source ↗
- ReportedThe segment's forecast for the current year is ¥75.0 billion.Mitsubishi Corporation, FY2025 results and FY2026 forecast presentation (1 May 2026) - net income by segment and of major subsidiaries and affiliates, with ownership, and the forecast by segment. — FY to March 2026 · publ. 1 May 2026 · source ↗
- Mitsubishi Corporation results, year to March 2026
- Mitsubishi Corporation results presentation, May 2026