Reasons for the transfer
MHI will transfer the fixed asset described below in order to make effective use of the company’s management resources and strengthen its financial position.
Asset designated for transfer
|Description and location||Revenue from transfer||Current status|
|Land: 329,993.74 m2
8-1, Sachiura 1-chome, Kanazawa-ku, Yokohama
|Approx. ¥30 billion||The Yokohama Dockyard & Machinery Works’ Kanazawa Plant has suspended operations|
Description of transfer recipient
At the request of the transfer recipient, we refrain from disclosing the name of the transfer recipient. No relationships exist between the transfer recipient and MHI in terms of capital, human resources or business ties. Furthermore, the recipient is not an MHI affiliate.
|Resolution at Board of Directors meeting||February 26, 2019|
|Contract signing||February 28, 2019 (subject to change)|
|Transfer date||March 29, 2019 (subject to change)|
As a result of the transfer of the fixed asset cited, approximately ¥30 billion will be booked as revenue from the sale of fixed assets in the consolidated accounts of the fiscal year ending March 31, 2019.
Revision of earnings forecasts
In conjunction with the foregoing, MHI is revising its full-year earnings forecasts for FY2018 (April 1, 2018—March 31, 2019). No change is made to the full-term dividend projection.
|Revenue||Profit from business activities||Income before taxes||Profit attributable to owners of parent||Earnings per share||Free cash flow|
|Previous forecast (A)
(February 6, 2019)
|Revised forecast (B)||4,200,000||190,000||200,000||100,000||297.68||130,000|
|(Reference) FY2017 results||4,085,679||58,176||39,232||△7,320||△21.79||167,559|