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Notice Regarding Consolidated Earnings
In the First Half of the Fiscal Year Ending March 2011
In the First Half of the Fiscal Year Ending March 2011
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Tokyo, October 25, 2010 - Mitsubishi Heavy Industries, Ltd. (MHI) today notified that the company's consolidated financial results for the first half of its fiscal year (FY) ending March 2011 (April 1, 2010 to September 30, 2010) are expected to diverge widely from its year-earlier results, as shown in the following table. The actual first-half results and new projections for the full fiscal year will be released on October 29.
MHI is disclosing the following estimates for the first half of the current fiscal year based on timely disclosure rules of the Tokyo Stock Exchange. The rules call for listed companies that have not disclosed the estimates for the period to disclose estimated results when the results in question are expected to diverge widely from the actual results for the corresponding period of the previous fiscal year.
Estimates of consolidated results for the first half of the fiscal year ending March 2011
(April 1, 2010 to September 30, 2010)
| | Net Sales | Operating Income | Ordinary | Net Income (Loss) | Net Income (Loss) |
| Actual results for first half (Apr.-Sep.) of fiscal year ended March 2010 (A) | 1,321.6 | 25.1 | 2.6 | (3.1) | (0.92) yen |
| Estimates for first half | 1,356.8 | 64.5 | 43.4 | 17.3 | 5.18 yen |
| Year-on-year changes (B-A) | 35.1 | 39.3 | 40.7 | 20.4 | - |
| Changes in percentages (%) | 2.7 | 156.9 | - | - | - |
Figures in parentheses are minus value.
Please note that the estimated figures in the table are projected based on information and data available and assumptions made at the time of this announcement. Actual results may diverge from these estimates.
Explanation:
MHI's consolidated net sales in the first half of the fiscal year ending March 2011 are projected to register a year-on-year increase attributable primarily to increased sales in the Machinery & Steel Structures segment as well as sales growth in the General Machinery & Special Vehicles segment, where demand appears to have bottomed out.
Year-on-year increases are also expected in first-half operating income, ordinary income and net income, with impact from the strong yen compensated mainly by the year-on-year expansion in net sales and improvement in plant construction earnings.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.