Overview
Machinery

Mitsubishi Heavy Industries,Ltd.

Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial conglomerates operating across four core segments: Energy (gas turbine combined cycle systems, nuclear power, wind power, aircraft engines, compressors), Plant & Infrastructure (steel machinery, commercial vessels, environmental equipment), Logistics, Thermal & Drive Systems (material handling equipment, HVAC products, turbochargers, automotive air conditioning), and Aviation, Defense & Space (military/commercial aircraft, missiles, naval vessels, spacecraft). The Group designs, manufactures, sells, and provides services and installation for these products globally. MHI combines cutting-edge technology with deep engineering expertise to deliver integrated solutions targeting decarbonization, energy transition, and smart infrastructure markets.

Market Cap
¥12,145B
US$77.5B
EV
¥11,156B
US$71.1B
Stock¥3,614▼-2.01%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
32.4
x
LTM EV/EBIT
76.4
x
LTM PER
30.5
x
LTM PBR
3.8
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-39.6%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Apr 1, 26Easing concerns over China export restriction
2Aug 4, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
12,145BUS$77.5BMarket Cap854BUS$5.45B+ Debt1,684BUS$10.7B− Cash228BUS$1.45B− Inv. Sec.68.3BUS$436M+ NCI11,156BUS$71.1BEV
AI Briefing
MHI: global industrial conglomerate across Energy, Plant & Infra, Logistics/Thermal/Drive, and Aviation/Defense/Space, targeting carbon neutrality by 2040 FY26/3 revenue ¥4,974B, up from ¥4,361B in FY25/3, reflecting steady top-line momentum Market cap ¥12,707B vs EBITDA LTM ¥344B underscores premium rating on defense/energy transition exposure
Performance & Balance
Revenue 5Y (¥B)
3,860US$24.6B'22/34,203US$26.8B'23/34,657US$29.7B'24/34,361US$27.8B'25/34,974US$31.7B'26/3
Net Income 5Y (¥B)
114US$724M'22/3130US$832M'23/3222US$1.42B'24/3235US$1.50B'25/3352US$2.24B'26/3
Capital Structure
79%
21%
EquityD/E 0.27xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
314US$2.00B972US$6.20B'22/3348US$2.22B1,009US$6.43B'23/3431US$2.75B921US$5.87B'24/3658US$4.20B1,239US$7.90B'25/31,335US$8.51B956US$6.10B'26/3
Shareholders
Top 10 hold 35.7%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
15.69%
2
Custody Bank of Japan, Ltd. (Trust Account)
5.23%
3
THE BANK OF NEW YORK MELLON AS DEPOSITARY BANK FOR DEPOSITARY RECEIPT HOLDERS (Standing Proxy: Mizuho Bank, Ltd.)
3.40%
4
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
3.19%
5
THE BANK OF NEW YORK MELLON AS DEPOSITARY BANK FOR DR HOLDERS (Standing Proxy: MUFG Bank, Ltd.)
1.68%
6
GOVERNMENT OF NORWAY (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.53%
7
Meiji Yasuda Life Insurance Company (Standing Proxy: Custody Bank of Japan, Ltd.)
1.44%
8
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
1.38%
9
BNYM AS AGT/CLTS 10 PERCENT (Standing Proxy: MUFG Bank, Ltd.)
1.17%
10
Mitsubishi Heavy Industries,Ltd. Stock Ownership Association
1.02%
Management
12 officers
Seiji IZUMISAWA
Director, Chairman of the Board
Apr 1981: Joined the Company Apr 2008: General Manager, Technology Planning Department, Technology Division, the Company Apr 2011: General Manager, Technology Planning Department, Technology Headquarters, the Company Apr 2013: Managing Executive Officer, Mitsubishi Motors Corporation Jun 2013: Director, Mitsubishi Motors Corporation Apr 2016: Executive Officer, General Manager, Technology Strategy Promotion Office, the Company Jun 2017: Full-time Audit and Supervisory Committee Member, Director, the Company Jun 2018: Representative Director, Managing Executive Officer, CSO, the Company Apr 2019: Representative Director, President, CEO and CSO, the Company Apr 2020: Representative Director, President, CEO, the Company Apr 2025: Director, Chairman of the Board, the Company (current)
1957-09-03
Eisaku ITO
Representative Director, President, CEO
Apr 1987: Joined the Company Apr 2016: General Manager, Business Intelligence & Innovation Department, Marketing & Innovation Division, the Company Apr 2018: Executive Officer, Fellow, Deputy Director, Corporate Research & Development Center, the Company Apr 2019: Executive Officer, Co-CTO, the Company Apr 2020: Managing Executive Officer, CTO, the Company Apr 2022: Managing Executive Officer, CTO and Co-CSO, the Company Apr 2025: President, CEO, the Company Jun 2025: Representative Director, President, CEO, the Company (current)
1963-10-19
Masayuki SUEMATSU
Representative Director, Managing Executive Officer, CSO, Domain CEO, Industrial Solutions Domain
Apr 1986: Joined the Company Jan 2016: President and CEO, Mitsubishi Mahindra Agricultural Machinery Co., Ltd. Apr 2019: Executive Officer, General Manager, Group Strategy Promotion Office, the Company Apr 2022: Executive Officer, General Manager, Group Strategy Promotion Office; Deputy Domain CEO, Logistics, Cold Chain & Drive Systems Domain, the Company Apr 2023: Managing Executive Officer, CSO, the Company Jun 2025: Representative Director, Managing Executive Officer, CSO, the Company Apr 2026: Representative Director, Managing Executive Officer, CSO, Domain CEO, Head of Industrial Solutions Domain, the Company (current)
1963-08-25
Hiroshi NISHIO
Representative Director, Executive Officer, CFO
Apr 1990: Joined the Company Jan 2020: Vice President, Mitsubishi Heavy Industries America, Inc. Apr 2022: General Manager, Financial Planning Division, the Company Apr 2025: Senior Fellow, Co-CFO, the Company Jun 2025: Representative Director, Executive Officer, CFO, the Company (current)
1968-01-05
Ken KOBAYASHI
Director
Jul 1971: Joined Mitsubishi Corporation Jun 2007: Director, Managing Executive Officer, Mitsubishi Corporation Jun 2008: Managing Executive Officer, Mitsubishi Corporation Apr 2010: Senior Managing Executive Officer, Mitsubishi Corporation Jun 2010: Director, President, Mitsubishi Corporation Apr 2016: Chairman of the Board, Mitsubishi Corporation Jun 2016: Director, the Company (current) Apr 2022: Director, Senior Adviser, Mitsubishi Corporation Jun 2022: Senior Adviser, Mitsubishi Corporation (current)
1949-02-14
Nobuyuki HIRANO
Director
Apr 1974: Joined The Mitsubishi Bank, Ltd. Jun 2005: Managing Director, The Bank of Tokyo-Mitsubishi, Ltd.; Director, Mitsubishi Tokyo Financial Group, Inc. Oct 2008: Senior Managing Director, The Bank of Tokyo-Mitsubishi UFJ, Ltd. Jun 2009: Deputy President, The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Managing Executive Officer, Mitsubishi UFJ Financial Group, Inc. Jun 2010: Director, Mitsubishi UFJ Financial Group, Inc. Oct 2010: Deputy President and Director, Mitsubishi UFJ Financial Group, Inc. Apr 2012: President, The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Director, Mitsubishi UFJ Financial Group, Inc. Apr 2013: President and Director, Mitsubishi UFJ Financial Group, Inc. Jun 2015: Director, Representative Executive Officer, President, Mitsubishi UFJ Financial Group, Inc. Apr 2016: Chairman of the Board, The Bank of Tokyo-Mitsubishi UFJ, Ltd. Apr 2019: Director, Executive Officer, Chairman, Mitsubishi UFJ Financial Group, Inc.; Director, MUFG Bank, Ltd. (until Apr 2020) Jun 2019: Full-time Audit and Supervisory Committee Member, Director, the Company Apr 2021: Director, Mitsubishi UFJ Financial Group, Inc. (until Jun 2021); Special Adviser, MUFG Bank, Ltd. (current) Jun 2021: Director, the Company (current)
1951-10-23
Mitsuhiro FURUSAWA
Director
Apr 1979: Joined the Ministry of Finance Aug 2012: Director-General, Financial Bureau, Ministry of Finance Mar 2013: Vice Minister of Finance for International Affairs, Ministry of Finance Jul 2014: Senior Adviser to the Cabinet Secretariat; Adviser, Ministry of Finance Mar 2015: Deputy Managing Director, International Monetary Fund (IMF) Dec 2021: President, Institute for International Monetary Affairs, Sumitomo Mitsui Banking Corporation (current) Jun 2023: Director, the Company (current)
1956-02-20
Masayuki FUJISAWA
Director, Full-time Audit and Supervisory Committee Member
Apr 1983: Joined the Company Oct 2018: Executive Officer, Deputy Domain CEO, Power Domain, the Company Apr 2020: Director, Managing Executive Officer, CFO and CAO, Mitsubishi Hitachi Power Systems, Ltd. Sep 2020: Director, Managing Executive Officer, CFO and CAO, Mitsubishi Power, Ltd. Apr 2021: Director, Managing Executive Officer, CSO, CFO and CAO, Mitsubishi Power, Ltd. Oct 2021: Executive Officer, Deputy Domain CEO, Energy Domain, the Company Jun 2024: Full-time Audit and Supervisory Committee Member, Director, the Company (current)
1960-08-23
Hisato OZAWA
Director, Full-time Audit and Supervisory Committee Member
Apr 1986: Joined the Company Oct 2019: Executive Officer, Co-CFO, the Company Apr 2020: Executive Officer, CFO, the Company Jun 2020: Representative Director, Executive Officer, CFO, the Company Apr 2021: Representative Director, Managing Executive Officer, CFO, the Company Jun 2025: Full-time Audit and Supervisory Committee Member, Director, the Company (current)
1962-04-02
Hiroo UURA
Director, Audit and Supervisory Committee Member
Apr 1973: Joined Nippon Telegraph and Telephone Public Corporation Jun 2002: Director, Nippon Telegraph and Telephone Corporation Jun 2007: Managing Director, Nippon Telegraph and Telephone Corporation Jun 2008: Representative Director, Executive Vice President, Nippon Telegraph and Telephone Corporation Jun 2012: Representative Director, President, Nippon Telegraph and Telephone Corporation Jun 2018: Senior Adviser, Nippon Telegraph and Telephone Corporation Jun 2019: Director, Audit and Supervisory Committee Member, the Company (current) Jul 2021: Special Adviser, Nippon Telegraph and Telephone Corporation Jul 2025: Special Adviser, NTT, Inc. (current)
1949-01-13
Noriko MORIKAWA
Director, Audit and Supervisory Committee Member
Apr 1981: Joined Chori Co., Ltd. Aug 1988: Joined Daiwa Securities America Inc. Sep 1991: Joined Arthur Andersen & Co. Mar 1995: Joined Motorola Japan Ltd. Mar 2005: Director, Motorola Japan Ltd. Jun 2009: Joined Robert Bosch K.K. Aug 2010: Vice President and Director, Robert Bosch K.K. (until Dec 2018) Jun 2020: Director, the Company Jun 2021: Director, Audit and Supervisory Committee Member, the Company (current)
1958-10-18
Masako II
Director, Audit and Supervisory Committee Member
Jul 1990: Research Economist, Development Research Group, World Bank Apr 1995: Associate Professor, Faculty of Economics, Yokohama National University Apr 2004: Professor, Graduate School of International Corporate Strategy, Hitotsubashi University Apr 2005: Professor, School of International and Public Policy, Hitotsubashi University; Professor, Graduate School of Economics and Faculty of Economics, Hitotsubashi University Jun 2021: Director, Audit and Supervisory Committee Member, the Company (current) Apr 2026: Specially Appointed Professor, School of International and Public Policy, Hitotsubashi University (current); Specially Appointed Professor, Graduate School of Economics and Faculty of Economics, Hitotsubashi University (current)
1963-02-08
Large Shareholding Reports
Mitsubishi UFJ Trust and Banking Corporation
2026-03-16
2.62%→2.18%
BlackRock Japan Co., Ltd.
2026-03-04
1.89%→1.95%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2025-09-19
3.99%→3.19%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-04
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-24
Annual Securities Report
EDINET
2026-03-16
Large Shareholding Report
EDINET
2026-03-04
Large Shareholding Report
TDnet
2026-02-04
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-11
Semi-Annual Securities Report
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-08-05
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
TDnet
2025-02-04
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-08
Semi-Annual Securities Report
TDnet
2024-08-06
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
EDINET
2024-05-28
中期経営計画
EDINET
2024-02-09
Quarterly Securities Report
EDINET
2023-11-09
Quarterly Securities Report
EDINET
2023-08-09
Quarterly Securities Report
EDINET
2023-06-29
Annual Securities Report
EDINET
2023-02-10
Quarterly Securities Report
EDINET
2022-11-07
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
EDINET
2022-02-09
Quarterly Securities Report
EDINET
2021-11-02
Quarterly Securities Report
EDINET
2021-08-05
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-08
Quarterly Securities Report
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