MHI's Less Powerful Outlook Confirms Concerns, FVE Cut to JPY 4960
Following disappointing power systems segment earnings this quarter by peers, Mitsubishi Heavy Industries, or MHI, confirmed concerns by lowering its profit guidance. The cut in fiscal year 2017 (ending March 2018) net profit guidance to JPY 80 billion is worse than expected as it includes ongoing problems at subsidiary Mitsubishi Hitachi Power Systems and delayed projects. We reduce our earnings expectations by 10%, 13%, and 9%, respectively, for fiscal 2017, 2018, and 2019 but leave much of ou...
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