Mitsubishi Electric Corporation (TOKYO: 6503) announced today its consolidated financial results for the second quarter (first half), ended September 30, 2024, of the current fiscal year ending March 31, 2025 (fiscal 2025).

The full document on Mitsubishi Electric’s financial results can be viewed at the following link:

www.MitsubishiElectric.com/news

Key Points

1. H1^(*1) FY25: Revenue ¥2,643.5 bn (+¥105.1 bn YoY), Operating Profit ¥176.6 bn (+¥40.8 bn YoY)

- Both revenue and operating profit achieved a new record high for H1 due primarily to the impact of the weaker yen and increases in the Infrastructure and Life segments.

2. FY25 forecast: Revenue ¥5,390.0 bn, Operating Profit ¥400.0 bn (unchanged from the previous announcement)

- We will steadily implement initiatives to achieve earnings targets, including improvements in product prices to reflect the impact of rising procurement costs.

3. Interim dividend of 20 yen per share declared, year-end dividend expected to be 30 yen per share (annual dividend expected to be 50 yen per share)

- With respect to dividends, we plan approximately 3% in adjusted DOE^(*2) from the perspective of providing appropriate returns to stockholders in line with the level of stockholders' equity and maintaining financial soundness to make continuous investments for growth.

- When investing for growth, we will seek to use our own funds generated from operating cash flow, and also flexibly raise funds as needed within a certain framework of financial discipline. The benchmark for using such leverage is a D/E ratio^(*3) of approximately 0.3.

(*1) H1: First half of the fiscal year (April–September)

(*2) Adjusted DOE (Dividend On Equity ratio): Adjusted ratio of dividends to stockholders’ equity

(*3) D/E ratio (Debt to Equity ratio): Ratio of debt to equity, which was 0.1 at the end of the second quarter of fiscal 2025.

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