Press Information

Consolidated Financial Results Estimates
For the First Half of the Fiscal Year Ending March 2010


Tokyo, October 23, 2009 - Mitsubishi Heavy Industries, Ltd. (MHI) today announced that the company's consolidated financial results for the first half of its fiscal year (FY) ending March 2010 (April 1, 2009 to September 30, 2009) are expected to diverge widely from its year-earlier results, as shown in the following table. The actual first-half results and new projections for the full fiscal year will be released on October 30.

MHI is disclosing the following estimates for the first half of the current fiscal year based on timely disclosure rules of the Tokyo Stock Exchange. The rules call for listed companies that have not disclosed the estimates for the period to disclose estimated results when the results in question are expected to diverge widely from the actual results for the corresponding period of the previous fiscal year.

Estimates of consolidated results for the first half of the fiscal year ending March 2010
(April 1, 2009 to September 30, 2009)

(billions of yen)



Net Sales


Operating Income


Ordinary Income


Net Income (Loss)

Net Income (Loss) Per Share

Actual results for first half (Apr.–Sep.) of fiscal year ended March 2009 (A)










    8.65 yen

Estimates for first-half

(Apr.–Sep.) of fiscal year ending March 2010 (B)










   (0.92) yen


Year-on-year changes (B-A)












Changes in percentages (%)











Figures in parentheses are minus value.

Please note that the estimated figures in the table are projected based on information and data available and assumptions made at the time of this announcement. Actual results may diverge from these estimates.

Supplementary Explanation

MHI’s consolidated net sales for the first half of the fiscal year ending March 2010 are expected to decrease year-on-year due to decreased sales mainly in the Mass & Medium-Lot Manufactured Machinery segment, where demand has been weak, coupled with sales declines in both the Power Systems and Shipbuilding & Ocean Development segments.

Year-on-year decreases in first-half operating income, ordinary income and net income are expected mainly as a result of the yen's continued appreciation during the period and the aforementioned net sales decrease.


About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit or follow our insights and stories on