Mitsubishi Motors (7211) investor relations material

Executive summary

• Achieved profit at revised plan level despite increasing uncertainty, including U.S. tariffs, rising Chinese competition, evolving regulations, and heightened geopolitical risks in early 2026.

• Global vehicle sales fell 5% year-over-year to 797,000 units, but net sales rose 4% to ¥2,896.5 billion.

• Operating profit was ¥75.5 billion (down 46% year-over-year), ordinary profit ¥78.9 billion (down ¥19.7 billion), and net income attributable to owners ¥10.0 billion (down 76%).

• Strong launch of new models, notably the all-new "Destinator".

Financial highlights

• FY2025 net sales rose 4% year-over-year to ¥2,896.5 billion; operating profit fell 46% to ¥75.5 billion.

• Net income dropped 76% year-over-year to ¥10.0 billion; annual dividend per share was ¥10.

• Retail sales volume declined 5% year-over-year to 797,000 units.

• Free cash flow decreased to ¥26.9 billion from ¥45.0 billion year-over-year.

• Capital expenditure was ¥85.3 billion (down 15% YoY); R&D expense ¥116.8 billion (down 8% YoY).

Outlook and guidance

• FY2026 forecast: net sales of ¥3,260.0 billion (+13%), operating profit of ¥90.0 billion (+19%), net income of ¥25.0 billion (+150%), and retail sales volume of 857,000 units (+8%).

• Dividend per share forecast maintained at ¥10.

• Full-year contribution expected from models launched in 2H/FY25, expansion to new markets, and launch of a new cross-country SUV.