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Financial Highlights

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Summary of Consolidated Business Results and Forecasts

  FY2016 (Actual)
JGAAP
FY2017 (Actual)
JGAAP
FY2017 (Actual)
IFRS
FY2018 (Actual)
IFRS
FY2019 (Forecast)
IFRS
Orders received 4,275.6
billion yen
3,875.7
billion yen
3,868.7
billion yen
3,853.4
billion yen
4,300.0
billion yen
Net sales 3,914.0
billion yen
4,110.8
billion yen
- - -
Revenue - - 4,085.6
billion yen
4,078.3
billion yen
4,300.0
billion yen
Operating income 150.5
billion yen
126.5
billion yen
- - -
Profit from business activities - - 58.1
billion yen
186.7
billion yen
220.0
billion yen
Ordinary Income 124.2
billion yen
114.4
billion yen
- - -
Profit Attributable to Owners of Parent 87.7
billion yen
70.4
billion yen
-7.3
billion yen
101.3
billion yen
110.0
billion yen

Although year‐on‐year comparisons show deterioration in the financial account balance caused by the yen’s strengthening, the Company’s fundamental earning power is in an improving trend. Overall, we believe the results of the first quarter demonstrate steady progress toward achieving our full‐year targets.

Accordingly, we are making no changes to our full‐year forecasts or our dividend projection. We continue to look for 4.3 trillion yen in orders received, 4.3 trillion yen in revenue, 220 billion yen in profit from business activities, 110 billion yen in profit attributable to owners of parent, EBITDA of 350 billion yen, and free cash flow totaling 50 billion yen.

Orders received,Net sales and Revenue

Orders received and Net sales
  FY2015
JGAAP
FY2016
JGAAP
FY2017
JGAAP
FY2017
IFRS
FY2018
IFRS
Orders received 4,485.5 billion yen 4,275.6 billion yen 3,875.7 billion yen 3,868.7 billion yen 3,853.4 billion yen
Net sales 4,046.8 billion yen 3,914.0 billion yen 4,110.8 billion yen - -
Revenue - - - 4,085.6 billion yen 4,078.3 billion yen

Operating Income,Profit from business activities,Ordinary Income and Profit attributable to owners of parent

Operating Income,Ordinary Income and Profit attributable to owners of parent
  FY2015
JGAAP
FY2016
JGAAP
FY2017
JGAAP
FY2017
IFRS
FY2018
IFRS
Operating income 309.5 billion yen 150.5 billion yen 126.5 billion yen - -
Profit from business activities - - - 58.1 billion yen 186.7 billion yen
Ordinary Income 272.5 billion yen 124.2 billion yen 114.4 billion yen - -
Profit attributable to owners of parent 63.8 billion yen 87.7 billion yen 70.4 billion yen -7.3 billion yen 101.3 billion yen

Total assets and Interest-bearing debt

Total assets and Interest-bearing debt
  FY2015
JGAAP
FY2016
JGAAP
FY2017
JGAAP
FY2017
IFRS
FY2018
IFRS
Total assets 5,500.7 billion yen 5,481.9 billion yen 5,487.6 billion yen 5,248.7 billion yen 5,142.7 billion yen
Interest-bearing debt 1,052.1 billion yen 925.5 billion yen 813.1 billion yen 813.1 billion yen 665.1 billion yen

Capital Expenditure and Depreciation

Capital Expenditure and Depreciation
  FY2015
JGAAP
FY2016
JGAAP
FY2017
JGAAP
FY2017
IFRS
FY2018
IFRS
Capital Expenditure 175.5 billion yen 204.4 billion yen 158.4 billion yen 158.4 billion yen 147.3 billion yen
Depreciation 158.7 billion yen 172.7 billion yen 176.1 billion yen 176.1 billion yen 124.9 billion yen

Equity and Equity ratio

Equity and Equity ratio
  FY2015
JGAAP
FY2016
JGAAP
FY2017
JGAAP
FY2017
IFRS
FY2018
IFRS
Equity 1,999.7 billion yen 2,104.1 billion yen 2,164.4 billion yen 1,693.8 billion yen 1,748.8 billion yen
Equity ratio 30.5% 32.5% 33.3% 26.6% 27.8%

Earning per share and Book value per share

Earning per share and Book value per share
  FY2015
JGAAP
FY2016
JGAAP
FY2017
JGAAP
FY2017
IFRS
FY2018
IFRS
Earning per share 190.20 yen 261.24 yen 209.82 yen -21.79 yen 301.95 yen
Book value
per share
5,003.00 yen 5,299.14 yen 5,431.02 yen 4,153.46 yen 4,262.24 yen

ROE and ROA

ROE and ROA
  FY2015
JGAAP
FY2016
JGAAP
FY2017
JGAAP
FY2017
IFRS
FY2018
IFRS
ROE 3.7% 5.1% 3.9% -0.5% 7.2%
ROA 4.9% 2.3% 2.1% 0.7% 3.5%

Cash Flows

Operating Cash Flow

Operating Cash Flow

Investment Cash Flow

Investment Cash Flow

Free Cash Flows

Free Cash Flows

Financing Cash Flow

Financing Cash Flow
  FY2015
JGAAP
FY2016
JGAAP
FY2017
JGAAP
FY2017
IFRS
FY2018
IFRS
Operating
Cash Flow
270.0 billion yen 95.9 billion yen 345.1 billion yen 405.7 billion yen 404.9 billion yen
Investment
Cash Flow
-262.4 billion yen 8.7 billion yen -137.1 billion yen -238.1 billion yen -161.8 billion yen
Free
Cash Flows
7.5 billion yen 104.6 billion yen 207.9 billion yen 167.5 billion yen 243.0 billion yen
Financing
Cash Flow
-23.1 billion yen -162.0 billion yen -152.1 billion yen -112.3 billion yen -255.5 billion yen

As of the fiscal year 2018 ended March 31, 2019, Mitsubishi Heavy Industries, Ltd. has adopted the International Financial Reporting Standards (IFRS) for consolidated financial statements, in place of the Japanese Generally Accepted Accounting Principles (JGAAP) previously used.