# Mitsubishi Corporation: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 訂正有価証券報告書 (S100YDK3)
> Page: https://vizora.meequs.com/en/company/mitsubishi
> Retrieved: 2026-09-30T17:13:15.997Z

## Company

Mitsubishi Corporation, founded in 1987, is a company in General Trading Companies listed on TSE Prime. It has 63,037 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Mitsubishi Corporation |
| Ticker | 8058 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8058.T) |
| Listing | TSE Prime |
| Head office | 東京都千代田区丸の内二丁目3番1号 |
| Representative (per filing) | 代表取締役 社長 中西 勝也 |
| Founded | Nov 1987 |
| Share capital | ¥213.8B |
| Employees (consolidated) | 63,037 |
| Average salary (parent only) | ¥21.1M |
| Fiscal year end | March |
| Website | www.mitsubishicorp.com (https://www.mitsubishicorp.com/) |
| Corporate number | 5010001008771 |
| EDINET | E02529 |
| Industries (Vizora) | General Trading Companies |

> Profile source: annual securities report (S100YDK3, filed 2026-06-18). As of filing

## Five-axis industry profile

Primary industry: General Trading Companies (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 35.7 | 7 |
| Efficiency | 50 | 7 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- Mitsubishi Corporation brought in ¥18.9T in revenue.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed +1.6% from the prior year.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥18915995000000 → ¥916726000000
- Net income → operating cash flow: ¥916726000000 → ¥1490041000000（difference ¥573315000000）
- Main uses of operating cash flow: CapEx ¥352947000000 / dividends ¥405973000000 / buybacks —
- Change in cash: ¥304840000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥18.9T |  |
| Operating income | — | Margin — |
| Net income | ¥800.5B | Margin 4.2% |
| Free cash flow | ¥1.14T |  |
| Employees (consolidated) | 63,037 |  |
| EPS | ¥210.92 |  |
| Diluted EPS | ¥209.78 |  |
| Book value per share | ¥934.3 |  |
| Equity ratio | 39.1% | Derived from disclosed figures |
| Shares outstanding | 4,028,926,000 |  |
| Treasury shares | 341,184,900 |  |
| Shareholders | 674,341 |  |
| Average salary (parent only) | ¥21.1M | Filing company only |
| Cash ratio | 7.6% | Cash ÷ revenue 9.7% |
| ROE | 8.5% | Derived from disclosed figures |
| ROA | 3.5% | Derived from disclosed figures |

## Notable figures

- FY2026, parent-company salary changed +36% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥12884521000000 | ¥18915995000000 | +46.8% |
| Employees | 82,997 people | 63,037 people | -24.0% |
| Cash and equivalents | ¥1317824000000 | ¥1841464000000 | +39.7% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 天然ガス → 事業再編・廃止 | 4.6% |
| 総合素材 → 事業再編・廃止 | 12.2% |
| 石油・化学 → 事業再編・廃止 | 15.1% |
| 金属資源 → 事業再編・廃止 | 14.4% |
| 産業インフラ → 事業再編・廃止 | 4.5% |
| 自動車・モビリティ → 事業再編・廃止 | 5.8% |
| 食品産業 → 事業再編・廃止 | 12.8% |
| コンシューマー産業 → 事業再編・廃止 | 25.0% |
| 電力ソリューション → 事業再編・廃止 | 4.9% |
| 複合都市開発 → 事業再編・廃止 | 0.7% |
| その他 → 事業再編・廃止 | 0.0% |

Segment revenue source references: 11 (derived)

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 18,915,995 | 100.0% | S100YDK3 |
| Cost of revenue | 17,260,921 | 91.3% | S100YDK3 |
| Gross profit | 1,655,074 | 8.7% | S100YDK3 |
| SG&A | 1,236,453 | 6.5% | S100YDK3 |
| Pretax income | 1,096,094 | 5.8% | S100YDK3 |
| Income tax | 179,368 | 0.9% | S100YDK3 |
| Net income | 916,726 | 4.8% | S100YDK3 |
| Net income attributable to owners | 800,460 | 4.2% | S100YDK3 |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 91 |
| SG&A | 7 |
| Operating income | 2 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 8.7% → Net margin 4.2%
Derived from reported figures (DERIVED).

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 18,617,601 | 18,915,995 | 298,394 | +1.6% |
| Gross profit | 1,836,394 | 1,655,074 | -181,320 | -9.9% |
| Net income attributable to owners | 950,709 | 800,460 | -150,249 | -15.8% |
| Operating cash flow | 1,658,349 | 1,490,041 | -168,308 | -10.1% |
| Free cash flow | 1,274,057 | 1,137,094 | -136,963 | -10.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 14,779,734 | — | — | 535,353 | 849,728 | 523,714 | S100TL6G |
| FY ending Mar 2021 | 12,884,521 | — | — | 172,550 | 1,017,550 | 628,569 | S100VYM1 |
| FY ending Mar 2022 | 17,264,828 | — | — | 937,529 | 1,055,844 | 662,011 | S100YDK3 |
| FY ending Mar 2023 | 21,571,973 | — | — | 1,180,694 | 1,930,138 | 1,475,184 | S100YDK3 |
| FY ending Mar 2024 | 19,567,601 | — | — | 964,034 | 1,347,380 | 826,838 | S100YDK3 |
| FY ending Mar 2025 | 18,617,601 | — | — | 950,709 | 1,658,349 | 1,274,057 | S100YDK3 |
| FY ending Mar 2026 | 18,915,995 | — | — | 800,460 | 1,490,041 | 1,137,094 | S100YDK3 |

## People and productivity（FY ending Mar 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥300.1M |
| Net income per employee (consolidated) | ¥12.7M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 80,728 | 79,706 | 80,037 | 62,062 | 63,037 |
| Average salary (parent company) | ¥15.6M | ¥19.4M | ¥20.9M | ¥20.3M | ¥21.1M |
| Average age (parent company) | 42.8 years | 42.9 years | 42.7 years | 42.4 years | 42.3 years |
| Average tenure (parent company) | 18.0 years | 18.0 years | 18.0 years | 17.0 years | 17.0 years |

Year over year: Employees (consolidated) +1.6% · Revenue (consolidated) +1.6%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,490,041 | 7.9% | S100YDK3 |
| Capital expenditure | 352,947 | 1.9% | S100YDK3 |
| Free cash flow | 1,137,094 | 6.0% | 算出 |
| Investing cash flow | -448,584 | -2.4% | S100YDK3 |
| Financing cash flow | -804,684 | -4.3% | S100YDK3 |
| Dividends paid | 405,973 | 2.1% | S100YDK3 |
| Change in cash | 304,840 | 1.6% | S100YDK3 |
| Cash and equivalents | 1,841,464 | 9.7% | S100YDK3 |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,555,570 | 1,556,999 | 1,251,550 | 1,536,624 | 1,841,464 | S100TL6G, S100VYM1, S100YDK3 |
| Total assets | 21,912,012 | 22,147,501 | 23,459,572 | 21,496,104 | 24,151,695 | S100QVYU, S100TL6G, S100VYM1, S100YDK3 |
| Net assets | 7,857,172 | 9,119,036 | 10,094,829 | 10,154,322 | 10,250,574 | S100QVYU, S100TL6G, S100VYM1, S100YDK3 |
| Share capital | 204,447 | 204,447 | 204,447 | 204,447 | 213,825 | S100QVYU, S100TL6G, S100VYM1, S100YDK3 |
| Property, plant and equipment | 2,784,039 | 2,992,042 | 2,692,368 | 2,873,011 | 3,499,226 | S100QVYU, S100TL6G, S100VYM1, S100YDK3 |
| Goodwill | 453,706 | 459,775 | 296,473 | 297,753 | 337,407 | S100QVYU, S100TL6G, S100VYM1, S100YDK3 |
| Current assets | 9,531,045 | 9,109,303 | 11,676,499 | 8,752,370 | 10,171,663 | S100QVYU, S100TL6G, S100VYM1, S100YDK3 |
| Total liabilities | 14,054,840 | 13,028,465 | 13,364,743 | 11,341,782 | 13,901,121 | S100QVYU, S100TL6G, S100VYM1, S100YDK3 |
| Equity attributable to owners of parent | 6,880,232 | 8,065,640 | 9,043,867 | 9,368,714 | 9,440,567 | S100QVYU, S100TL6G, S100VYM1, S100YDK3 |
| Retained earnings | 5,204,434 | 6,043,878 | 6,452,055 | 6,637,528 | 6,954,040 | S100QVYU, S100TL6G, S100VYM1, S100YDK3 |
| Treasury stock | -25,544 | -124,083 | -187,011 | -99,055 | -1,113,486 | S100QVYU, S100TL6G, S100VYM1, S100YDK3 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 8% | S100YDK3 |
| Property, plant and equipment | 14% | S100YDK3 |
| Intangibles and goodwill | 1% | — |
| Other assets | 77% | S100YDK3 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 58% | S100YDK3 |
| Equity | 42% | S100YDK3 |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 21,912,012 | 22,147,501 | 23,459,572 | 21,496,104 | 24,151,695 |
| Equity | 7,857,172 | 9,119,036 | 10,094,829 | 10,154,322 | 10,250,574 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,555,570 | 1,556,999 | 1,251,550 | 1,536,624 | 1,841,464 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 18.5% | S100YDK3 |
| Fixed assets ÷ total assets | 14.5% | S100YDK3 |
| Goodwill ÷ parent equity | 3.6% | S100YDK3 |

Goodwill over 4 years: 453,706 → 337,407 JPY; total investing cash flow: -1,273,306 JPY. This does not imply causation.

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 7.6% |
| Cash ÷ revenue | 9.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 689,581 JPY mn (of net income 86.1%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 50.7% |
| Shareholder payments — dividends / FCF | 35.7% |
| CapEx intensity (capex ÷ revenue) | 1.9% |
| Investing CF relative to operating CF | 30.1% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 5.4% | 0.79× | 4.3% | 3.18× | 13.6% | S100QVYU, S100YDK3 |
| 2023 | 5.5% | 0.98× | 5.4% | 2.95× | 15.8% | S100TL6G, S100YDK3 |
| 2024 | 4.9% | 0.86× | 4.2% | 2.67× | 11.3% | S100VYM1, S100YDK3 |
| 2025 | 5.1% | 0.83× | 4.2% | 2.44× | 10.3% | S100YDK3 |
| 2026 | 4.2% | 0.83× | 3.5% | 2.43× | 8.5% | S100YDK3 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 16.7% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505104(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 10.9% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 5.3% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 3.4% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（退職給付信託口・議決権受託者行使型） | Major shareholder | 2.6% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.5% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781(常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.3% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（退職給付信託口・日本郵船株式会社口） | Major shareholder | 1.2% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（退職給付信託口・三菱電機株式会社口） | Major shareholder | 1.0% | 2026-03-31 |
| CITIBANK, N.A.-NY, AS DEPOSITARY BANK FOR DEPOSITARY SHARE HOLDERS(常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 0.9% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue for FY ending Mar 2026 was ¥18.9T, up +1.6% from ¥18.6T.
- Gross profit fell -9.9% from ¥1.84T to ¥1.66T, and net income fell -15.8% from ¥950.7B to ¥800.5B.
- Operating cash flow also dropped -10.1% to ¥1.49T.

### Drivers

- Revenue lost the sales of Lawson, which moved from a subsidiary to an equity-method affiliate (only a share of its profit is now counted), but higher commodity prices more than made up for it.
- The drop in gross profit came mainly from Lawson no longer being consolidated.
- Net income fell because last year included one-off gains, a revaluation gain on Lawson and a gain on selling Australian coking coal assets; a partial reversal of past impairments in the copper business softened the fall.

### Risks

- Oil and LNG prices have become volatile because of the situation in the Middle East, and these swings reach profit mainly through equity-method earnings.
- A stronger yen shrinks the yen value of overseas dividends and of profits from overseas subsidiaries and affiliates.
- If invested businesses miss their profit plans, impairments or exits could hit results.

Cited: Amended Annual Securities Report (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Amended Annual Securities Report (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書 | S100YDK3 | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDK3,, |
| 有価証券報告書 | S100VYM1 | 2025-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VYM1,, |
| 有価証券報告書 | S100TL6G | 2024-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TL6G,, |
| 有価証券報告書 | S100QVYU | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QVYU,, |
| 有価証券報告書 | S100O6ZR | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O6ZR,, |
| 有価証券報告書 | S100LHA9 | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LHA9,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| ファーマフーズ | Alliance | 販売提携（三菱商事が当社商品を国内外で販売） | S100WW38 |
| ペプチドリーム | Joint venture | 合弁会社ペプチグロース（成長因子代替ペプチド） | S100XRP4 |
| TOYO TIRE | Capital alliance | 販売力・技術力・リソース強化の資本業務提携（第三者割当） | S100XTYE |
| 三菱自動車 | Joint venture | インドネシアでの車両生産の合弁（PT Krama Yudhaも参加） | S100YCMC |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).