⚠ ROE of 8.5% Against a 12% TargetHigh threat

Mitsubishi Corporation (8058) — threat to the moat

Mitsubishi's return on equity has fallen three years in a row to well below its own target.

Mitsubishi's return on equity was 15.8% in the year to March 2023, 11.3% in 2024, 10.3% in 2025 and 8.5% in the year to March 202612. Its Corporate Strategy 2027 targets 12% or more3. The average under the previous plan was 12.5%4.

Equity attributable to owners (¥ bn, March)9,043.920249,368.720259,440.62026Mitsubishi Corporation results
Equity kept rising despite a ¥1 trillion buyback.

Equity attributable to owners was ¥9,440.6 billion at March 20265, despite the ¥1 trillion buyback, because retained profit and currency translation added back most of what was returned.

Total assets rose from ¥21,496.1 billion to ¥24,151.7 billion in the year to March 20266, as the company invested in gas, salmon and power while its profit fell. The denominator of the return grew while the numerator shrank.

The measure is ROE in the current year. The company forecasts 11.5%7; a result below 10% would put the 12% target out of reach for the plan.

References
  1. ReportedMitsubishi's return on equity was 15.8% in the year to March 2023, 11.3% in 2024, 10.3% in 2025 and 8.5% in the year to March 2026.
    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 ↗
  2. ReportedMitsubishi's return on equity was 15.8% in the year to March 2023, 11.3% in 2024, 10.3% in 2025 and 8.5% in the year to March 2026.
    Mitsubishi Corporation, Consolidated Financial Results for the year ended March 31, 2025 (IFRS) - including the eight-segment note with the year to March 2024 restated and the three-for-one share split of 1 January 2024. — FY to March 2025 · publ. 2 May 2025 · source ↗
  3. ReportedIts Corporate Strategy 2027 targets 12% or more.
    Mitsubishi Corporation, FY2025 results and FY2026 forecast presentation (1 May 2026) - Corporate Strategy 2027 targets, the three-year cash flow plan, divestitures, shareholder returns and leverage policy. — FY to March 2026 · publ. 1 May 2026 · source ↗
  4. ReportedThe average under the previous plan was 12.5%.
    Mitsubishi Corporation, FY2024 results presentation - the review of Midterm Corporate Strategy 2024, the Enhance programmes covering all 244 operating companies, capital recycling, and the credit ratings. — FY to March 2025 · publ. 2 May 2025 · source ↗
  5. ReportedEquity attributable to owners was ¥9,440.6 billion at March 2026, despite the ¥1 trillion buyback, because retained profit and currency translation added back most of what was returned.
    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 ↗
  6. ReportedTotal assets rose from ¥21,496.1 billion to ¥24,151.7 billion in the year to March 2026, as the company invested in gas, salmon and power while its profit fell.
    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 ↗
  7. ReportedThe company forecasts 11.5%; a result below 10% would put the 12% target out of reach for the plan.
    Mitsubishi Corporation, FY2025 results and FY2026 forecast presentation (1 May 2026) - Corporate Strategy 2027 targets, the three-year cash flow plan, divestitures, shareholder returns and leverage policy. — FY to March 2026 · publ. 1 May 2026 · source ↗
Sources
Generated September 24, 2026