Investor Presentaiton
Mitsubishi Corporation
(Details) Market Conditions
Foreign Exchange, Commodity Prices and Interest Rates
November 2, 2023
Mitsubishi Corporation
Revised Forecast for
Forecast for FY2023
(Released May 9) *1
FY2023
(Released Nov. 2)*1
Change
First six months of
FY2023
Consolidated net
income sensitivities
for FY2023
Foreign Exchange
130.00
140.53
+10.53
*2
141.06
¥5.0 billion (JPY/US$)
(JPY/US$)
(2nd Half 140.00)
Crude Oil
*4
*3
(Brent)
(US$/BBL)
Copper
(LME) (US$/MT)
[US$/lb]
Metallurgical Coal
(FOB Australia)
(US$/MT)
Iron Ore
83
82
(1)
83
¥1.5 billion (US$/BBL)
*5
8,378
8,400
+22
8,410
¥2.7 billion (US$100/MT)
[380]
[381]
[ +1 ]
[381] [¥5.8 billion (US¢10/lb)
lb)]
(2nd Half [ 380 ])
Undisclosed
253
Undisclosed
*6
(FOB Australia)
101
105
+4
110
¥0.75 billion (US$/MT)
(US$/MT)
JPY Interest (%)
0.15
0.11
TIBOR 3M
(0.04)
0.07
*7
US$ Interest (%)
SOFR
4.80
5.18
+0.38
4.96
*7
(calculated on 3M basis)
*1 The annual average is shown for the forecast for the year.
*2 Increase or decrease in earnings assuming the April to March average of JPY/US$ depreciates or appreciates by ¥1, respectively. Actual results are also affected by such factors as differences from the Company's fiscal
year-end and cross rates between other currencies.
*3 To account for differences from the Company's fiscal year-end and the timing when crude oil price is actually reflected in LNG sales price, the 12-month average price from six months earlier
(e.g. for the year ending March: average price from Oct. to Sep.) and from three months earlier (e.g. for the year ending March: average price from Jan. to Dec.) is utilized.
*4 The impact on actual results is also affected by such factors as foreign currency movements and production/sales volume. Because "Dividend income (after tax)" in the LNG Business is impacted by affiliates' dividend
payout ratios and the timing of their dividend resolutions, etc., the direct impact on this item of crude oil price fluctuations is currently limited. Accordingly, this item has been excluded from the calculation of
consolidated net income sensitivities for the full fiscal year.
*5 Actual results are also affected by such factors as the grade of mined ore, the status of production/operations and reinvestment plans (capital expenditure).
*6 To account for differences from the Company's fiscal year-end, the 12-month average price from three months earlier (e.g. for the year ending March: average price from Jan. to Dec.) is utilized.
Actual results are also affected by such factors as the grade of iron ore and the status of production/operations.
*7 The negative effect of rising interest rates is mostly offset by an increase in operating and investment profits. However, a rapid rise in interest rates could have a temporary negative effect.
Copyright 2023 Mitsubishi Corporation
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