⚠ A Stake Sale So SoonLow threat
Mitsubishi Corporation (8058) — threat to the moat
Mitsubishi may sell part of LNG Canada before the project has run a full year.
According to Reuters, Mitsubishi hired an adviser to explore selling part of its LNG Canada stake1. The project had begun production only in June 20252.
Selling part of a new asset can make sense if buyers pay for the future cash flows now. It also means the growth in LNG volumes the company targets would have to come from elsewhere.
The logic of a sale would be capital recycling, which the company practises across its portfolio, and the plan's ¥2.1 trillion divestiture target3. The cost would be a smaller share of a new project on the Pacific coast, closer to Asian buyers than the Gulf of Mexico terminals.
The measure is the equity LNG capacity target. A sale that leaves the 18-million-tonne target unchanged would say the volume will be replaced.
- ReportedAccording to Reuters, Mitsubishi hired an adviser to explore selling part of its LNG Canada stake.BOE Report (Reuters), 16 January 2026 - Shell and Mitsubishi exploring sale options for their stakes in LNG Canada. — January 2026 · publ. 16 January 2026 · source ↗
- ReportedThe project had begun production only in June 2025.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 logic of a sale would be capital recycling, which the company practises across its portfolio, and the plan's ¥2.1 trillion divestiture target.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 ↗