Mitsubishi Electric (6503) Q3 2026 earnings summary

Executive summary

• Q3 FY2026 revenue reached a record ¥1,423.5 billion, driven by strong Infrastructure and Factory Automation demand, favorable FX, and price improvements.

• Operating profit excluding Next-Stage/Support Program costs hit ¥144.7 billion, a record high with a 10.2% margin.

• Net profit for Q3 was ¥108.8 billion, down year-over-year, while nine-month net profit rose to ¥298.3 billion, up 20%.

• Both revenue and net profit for the cumulative nine months set new highs, even including Next-Stage impacts.

• Growth was supported by profitability initiatives and strong segment performance.

Financial highlights

• Q3 revenue increased by ¥66.7 billion year-on-year to ¥1,423.5 billion, a record high.

• Operating profit excluding Next-Stage rose by ¥17.8 billion year-on-year to ¥144.7 billion; margin reached 10.2%.

• Nine-month revenue reached ¥4,156.0 billion (+4% YoY), with operating profit at ¥369.0 billion (+22% YoY) and net profit at ¥298.2 billion (+20% YoY).

• Free cash flow for the nine months was ¥204.4 billion, up ¥30.2 billion year-on-year.

• Comprehensive income rose to ¥454.6 billion, mainly due to increased FX translation gains.

Outlook and guidance

• FY2026 revenue forecast raised to ¥5,760.0 billion, up ¥90.0 billion from previous guidance.

• Core operating profit forecast (excluding Next-Stage) increased to ¥500.0 billion, up ¥30.0 billion.

• FY2026 net profit forecast at ¥360.0 billion.

• Segment outlooks revised higher for Infrastructure, Factory Automation, Automotive Equipment, Building Systems, and Semiconductor & Device; lower for Air Conditioning & Home Products in North America.

• Growth expectations are based on continued strength in Infrastructure and favorable currency effects.