Investor Presentaiton
Mitsubishi Corporation
Summary of Net Income
Power Solution Group
May 9, 2023
Mitsubishi Corporation
■1Q
■2Q
■ 3Q
■4Q
61.9
(Billions of Yen)
FY2021
FY2022
Change
Remarks
50.5
55.0
63.5
One-off
Net Income
(14.2)
(0.1)
14.1
Gains on sale of power generating assets and increased
earnings in the Overseas power business, despite losses
35.0
46.5
64.7
62.0
excl. One-off
(2.7) due to facility defects, etc. and decreased earnings in the
15.0
7.5
Total
50.5
61.9
11.4
Domestic power generating business.
9.3
14.4
(5.0)
(2.0)
(23.5)
FY2022
Forecast
for FY2023
Change
Remarks
(25.0)
FY2021
FY2022
FY2021
FY2022
Change
61.9
109.0
47.1 Increased gains on sale in the Overseas power generating business.
Total Assets
2,650.1
2,716.2
66.1
Equity in Earnings of Subsidiaries and Affiliates
Subsidiary/
Affiliate
Company Name (Country)
One-off Gains/Losses
Business Description
Equity
Holding
(%)
Equity in Earnings
FY2022
1Q
2Q
3Q
4Q
Total
Change
FY2021 FY2022
One-off Gains
Gains on valuation from partial sale of U.K. retail
business
23.9
23.9
80.00
20.0
32.1
12.1
100.00
1.7
5.5
3.8
Gains on sale of Overseas water business
Reversal of provisions for retroactive adjustment to power sales
prices in Middle Eastern power generation business (DGA)
5.7
5.7
1.4
1.4
100.00
6.9
9.4
2.5
Total
5.7
25.3
31.0
Subsidiary
N.V. Eneco (Netherlands) *1
Subsidiary
Subsidiary
Subsidiary
Subsidiary
Diamond Generating Asia, Limited
(Hong Kong) *2*3
DIAMOND GENERATING CORPORATION
(U.S.A.)
DIAMOND GENERATING EUROPE LIMITED
(U.K.)
DIAMOND TRANSMISSION CORPORATION
LIMITED (U.K.) *4
Subsidiary
Electric Power Business
Electric Power Business
Electric Power Business
Electric Power Business
Power Transmission Business
Mitsubishi Corporation Energy Solutions Ltd.
(Japan)
Electric Power Business
100.00
28.8
29.2
0.4
One-off Losses
Losses due to facility defects in the Domestic power
generation business
(8.3)
(15.0)
(23.3)
100.00
(1.4)
2.1
3.5
Impairment losses on goodwill and intangible assets
under Eneco
(3.7)
(3.7)
100.00
15.6
(15.4)
(31.0)
Retroactive adjustment of accounting estimates of Eneco
for the previous fiscal year
(1.7)
(0.8)
(2.5)
Impairment losses on Asian power generating assets
(1.6)
(1.6)
Total
(1.7)
(9.1)
(20.3)
(31.1)
*1 In addition to the figures above, there are consolidation adjustments (FY2021: -2.0 billion yen, FY2022: -5.3 billion yen) to equity in earnings, such as DD&A
on assets measured at fair value at the time of acquisition of Eneco Group and so on.
Net equity in earnings after the consolidated adjustment includes impacts due to UK/Netherland tax reform. (FY2021: UK -0.7 billion yen / Netherland -1.2 billion yen)
*2 The corresponding figure is the total of 12 companies, including companies which are administrated by Diamond Generating Asia, Limited.
*3 Tax costs of the parent company are included.
*4 The figures above includes impacts due to the UK tax reform. (FY2021: -0.8 billion yen)
Copyright © 2023 Mitsubishi Corporation
FY2021
1Q
2Q
3Q
4Q
Total
Total of One-off Gains
3.6
2.3
5.9
Total of One-off Losses
(1.6)
(5.6) (12.9) (20.1)
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