Mitsubishi Electric reports 5% YOY revenue increase for FY 2025

Japan’s Mitsubishi Electric Corporation has announced its consolidated financial results for fiscal 2025, covering the period from April 1, 2024, to March 31, 2025. The company recorded revenue of 5,521.7 billion yen, a 5% increase from the previous fiscal year. Operating profit rose by 19% year-on-year (YOY) to 391.8 billion yen, while profit before income taxes grew by 20% YOY to 437.2 billion yen. Net profit attributable to Mitsubishi stockholders increased by 14% YOY to 324.0 billion yen.

Revenue growth was driven by a weaker yen and improved product prices.

The Infrastructure segment saw gains in the uninterruptible power supply business outside Japan, global transportation systems and Japan’s public utility business.

The energy systems business expanded in power transmission and distribution globally, and the defense & space systems business grew due to large-scale projects.

The Life segment reported increases in the building systems business in Japan and Asia (excluding China) and in air conditioning systems for North America, Asia (excluding China) and Japan.

The Business Platform segment grew in IT infrastructure services and system integrations.

The Semiconductor & Device segment remained stable, with gains in power modules for railway and power transmission applications and optical communication devices, offset by a decline in industrial power modules.

The Industry & Mobility segment experienced a decline in factory automation systems, primarily due to reduced demand for lithium-ion batteries, and in automotive equipment due to lower sales by Japanese manufacturers in China.

Operating profit increased due to gains in the Infrastructure, Life, Semiconductor & Device and Business Platform segments, despite a decline in the Industry & Mobility segment. The operating profit ratio improved by 0.9 points YOY to 7.1%, supported by a 1.2-point YOY improvement in the cost ratio, attributed to the weaker yen and better product prices. Selling, general and administrative expenses rose by 78.5 billion yen YOY, with the expense-to-revenue ratio worsening by 0.3 points YOY.

Other profit (loss) decreased by 4.4 billion yen YOY, with its ratio to revenue staying unchanged.

Total assets as of March 31, 2025, increased by 208.3 billion yen to 6,375.6 billion yen, driven by a 59.0 billion yen rise in investments accounted for using the equity method and a 57.1 billion yen increase in trade receivables.

Total liabilities decreased by 1.6 billion yen to 2,299.3 billion yen, with bonds and borrowings falling by 27.1 billion yen to 214.1 billion yen.

Stockholders’ equity rose by 210.3 billion yen to 3,949.6 billion yen, reflecting the net profit of 324.0 billion yen, offset by a 104.3 billion yen dividend payment. The stockholders’ equity ratio increased by 1.3 points to 61.9%.

Cash flows from operating activities totaled 455.9 billion yen, while investing activities used 191.7 billion yen, resulting in a free cash flow of 264.1 billion yen. Financing activities used 265.3 billion yen, and cash and cash equivalents decreased by 8.0 billion yen to 757.3 billion yen.

Mitsubishi Electric declared a year-end dividend of 30 yen per share for fiscal 2025, combined with an interim dividend of 20 yen per share, resulting in a total annual dividend of 50 yen per share. Payment is scheduled to begin on June 3, 2025.

The company also announced a share repurchase program, authorized today to acquire up to 60 million shares of common stock, representing 2.89% of issued and outstanding shares (excluding treasury stock), with a maximum value of 100 billion yen. The repurchase will occur through market trades on the Tokyo Stock Exchange from April 30 to October 31.

Read the 26-page Mitsubishi Electric Consolidated Financial Results Briefing for Fiscal 2025 here.

Featured photo shows the front view of Mitsubishi Electric’s United States headquarters (Building A) in Cypress, California, pictured in 2021. Photo Attribution: DigitalIceAge. Photo is licensed under Attribution 4.0 International CC BY 4.0.