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Mitsubishi Corporation (8058) — moat facet

Mitsubishi's profit comes first from energy and mining and then from consumer businesses, and this year the company forecasts energy at twice mining.

1. ReportedMitsubishi reported eight operating segments in the years to March 2025 and 2026, and from April 2026 merged two of them, Environmental Energy and Power Solution, into Energy & Power Solution.
   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 ↗
2. Third-party estimateThese pages follow net profit by segment, with the two energy segments combined as the company now combines them, because revenue says little: Materials Solution had revenue of ¥3,631.2 billion and net profit of ¥26.3 billion in the latest year.
   Mitsubishi Corporation (TYO: 8058) annual financials - revenue by segment for the years to March 2024, 2025 and 2026, and capital expenditure. — FY to March 2024-2026 · publ. September 2026 · source ↗
3. ReportedThese pages follow net profit by segment, with the two energy segments combined as the company now combines them, because revenue says little: Materials Solution had revenue of ¥3,631.2 billion and net profit of ¥26.3 billion in the latest year.
   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 ↗
4. ReportedIn the year to March 2026, Mineral Resources earned ¥204.5 billion; Energy & Power ¥204.3 billion; Smart-Life Creation ¥91.0 billion; Urban Development & Infrastructure ¥85.1 billion; Food Industry ¥83.3 billion; Mobility ¥57.6 billion; and Materials Solution ¥26.3 billion.
   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 ↗
5. Moat Explorer calcIn the year to March 2026, Mineral Resources earned ¥204.5 billion; Energy & Power ¥204.3 billion; Smart-Life Creation ¥91.0 billion; Urban Development & Infrastructure ¥85.1 billion; Food Industry ¥83.3 billion; Mobility ¥57.6 billion; and Materials Solution ¥26.3 billion.
   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.
6. Moat Explorer calcOther items and adjustments added ¥48.3 billion, for a total of ¥800.5 billion.
   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.
7. ReportedOther items and adjustments added ¥48.3 billion, for a total of ¥800.5 billion.
   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 ↗
8. ReportedMineral Resources had assets of ¥5,995.2 billion, and every segment earned between about 1% and 4% on its assets in the latest year.
   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 ↗
9. Moat Explorer calcMineral Resources had assets of ¥5,995.2 billion, and every segment earned between about 1% and 4% on its assets in the latest year.
   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.
10. ReportedThe year to March 2024 is restated on the eight-segment basis, but Food Industry and Power Solution each had a loss in one of the three years, so the chart shows the two most recent years on the combined basis.
    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 ↗
11. ReportedThe year to March 2024 is restated on the eight-segment basis, but Food Industry and Power Solution each had a loss in one of the three years, so the chart shows the two most recent years on the combined basis.
    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 ↗
12. ReportedThe measure is the forecast mix for the current year: Energy & Power Solution ¥363.0 billion, Mineral Resources ¥180.0 billion and Smart-Life Creation ¥120.0 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
• Mitsubishi Corporation financials (stockanalysis)