MHI is set to generate solid operating profits and ROICs in the next five years.
No-moat Mitsubishi Heavy Industries, or MHI, reported a soft fiscal year 2017 result. The 3.3% year-on-year top-line decline to JPY 3.9 trillion was broadly in line with our estimate, while the 34% year-on-year net earnings growth to JPY 87 billion exceeded our expectation on higher one-off income related to asset disposal. Excluding the one-off disposal, MHI’s bottom line would have missed our estimates. In fiscal year 2018, we expect 9% net income growth to JPY 95 billion on the back of virtua...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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