MHI Targets Robust Near-Term Growth, We Are Less Optimistic but FVE is Raised
Mitsubishi Heavy Industry's, or MHI's, strategy briefing revealed robust profit growth targets in all three divisions, led partly by cutting costs, but we are less optimistic about it. MHI is targeting an operating profit of JPY 350 billion in fiscal 2020 (year ending March 2021), a 59% year-over-year jump over fiscal 2019's JPY 220 billion. Much of the increase comes from a margin improvement. We have given MHI some benefit of the doubt but our revised fiscal 2020 operating profit forecast of J...Mitsubishi Heavy Industries is a manufacturer of heavy machinery. Along with its affiliates, Co. is engaged in the design, manufacture, installation, sale and after-sales services of boilers, turbines, diesel engines, power generation facilities, passenger ships, liquefied natural gas ("LNG") ships, liquefied petroleum gas ("LPG") ships, container ships, oil tankers, offshore structure, civil aircraft and aero engine, defense equipment, space equipment, waste treatment systems, traffic systems, cranes, forklifts, construction and agricultural machinery, and others. Co. is also engaged in the sale, purchase and leasing of properties and the printing business.
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