TOKYO (Reuters) -Japan’s Mitsubishi Heavy Industries (MHI) on Friday projected a 9.6% growth in operating profit this year on robust defence demand without weaving in impact of U.S. tariffs, after its fiscal 2024-25 earnings missed analyst expectations.
The company expects operating profit of 420 billion yen ($2.9 billion) for the current financial year to March 2026, after posting a 383.2 billion yen profit in the just-ended business year, which marked a 35.6% growth.
In the ongoing year, the operating profit in the aerospace and defence segment would grow 40%, while that in the energy systems, including power generation equipment like turbines, would increase 17%, it said.
The forecast “does not include upside or downside risk from U.S. tariff policy impact”, MHI said in a presentation.
For the full 2024-25 year, revenues came to 5.02 trillion yen, slightly above analysts’ mean estimate in the data compiled by LSEG, but pretax profit was at 374.5 billion yen, below the consensus 401.6 billion yen estimate.
($1 = 145.5000 yen)
(Reporting by Kantaro Komiya; Editing by Mrigank Dhaniwala)
