MHI Releases FY2019 Financial Results & Emergency Measures, Strategy Update

TOKYO, May 11, 2020 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) today announced its consolidated 2020-05-11 financial results for fiscal year (FY) 2019 ended March 31, 2020.

Estimate of Consolidated Financial Results for FY 2020

For the fiscal year 2020 ending March 31, 2021, MHI is expecting 3,800 billion yen in net sales, 0 yen in EBIT(Earnings Before Interest and Taxes), 0 yen in profit before income tax, and 0 yen in profit attributable to owners of parent. This estimate is based on the assumption of currency exchange rate of USD1.00 = YEN110 and EUR1.00 = YEN120 for the portion yet to be fixed.

We have decided to voluntarily adopt IFRS from beginning with the first quarter ending June 30, 2018 onward, so estimate of consolidated financial results have been made based on IFRS.

Please note that this estimate has been projected with currently available information and data. As such, these projections involve risks and uncertainties. For this reason, investors are recommended not to depend solely on these projections for making investment decisions. The actual results, therefore, may diverge broadly with the influence of a variety of outside factors such as economics surrounding MHI, currency movement of the yen to the U.S. dollar and other foreign currencies, and trends of stock markets in Japan. Also, the results projected here should not be construed in any way as being guaranteed by the company.

For the full report, visit https://bit.ly/2Lkyqf3.

About Mitsubishi Heavy Industries, Ltd.

Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial firms. For more than 130 years, we have channeled big thinking into solutions that move the world forward - advancing the lives of everyone who shares our planet. We deliver innovative and integrated solutions across a wide range of industries, covering land, sea, sky and even space. MHI Group employs 80,000 people across 400 locations, operating in three business domains: "Power Systems," "Industry & Infrastructure," "Aircraft, Defense & Space." We have a consolidated revenue of around 40 billion U.S. Dollars. We aim to contribute to environmental sustainability while achieving global growth, using our leading-edge technologies. By bringing people and ideas together as one, we continue to pave the way to a future of shared success.

For more information, please visit MHI's website: https://www.mhi.com
For Technology, Trends and Tangents, visit MHI's new online media SPECTRA: https://spectra.mhi.com

Source: Mitsubishi Heavy Industries, Ltd.

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