ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Producer Manufacturing

Mitsubishi Heavy Industries, Ltd.

Business Summary

Mitsubishi Heavy Industries, Ltd. engages in the manufacture and sale of ships, industrial machinery, and aircrafts. It operates through the following segments: Power, Industry & Social Infrastructure, Aviation, Defense, Space, and Others and Common. The Power segment handles thermal power generation system, nuclear equipment, wind power generation equipment, and aircraft engines. The Industry & Social Infrastructure segment provides logistics equipment, turbochargers, cooling products, car air conditioners, transportation systems, and environmental equipment. The Aviation, Defense, Space segment deals with commercial and defense aircraft, ships, special vehicles, and space equipment. The Others and Common segment includes construction and real estate businesses. The company was founded by Yataro Iwasaki on July 7, 1884 and is headquartered in Tokyo, Japan.

Financial Highlights

Mar 2021 JPYUSD
Gross Profit549,602M5,182.11M
Operating income52,099M491.23M
Income before tax34,197M322.43M
Net income40,640M383.18M
Diluted EPS120.831.13
Dividends Per Share750.70
Total Assets4,810.72B43,535.99M
Total liabilities3,371.33B30,509.82M
Total equity1,366.34B12,365.09M
Operating cash flow-94,948M-895.25M
Currency in JPYCurrency in USD

Historical Data

 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 3,914.01B 4,085.67B 4,078.34B 4,041.37B 3,699.94B
Gross Profit 733,120M 805,252M 734,150M 672,657M 549,602M
Operating income 150,544M 173,546M 230,783M 126,163M 52,099M
Income before tax 169,718M 39,232M 195,059M -32,660M 34,197M
Net income 87,721M -7,321M 110,271M 87,123M 40,640M
EBITDA 339,874M 347,285M 366,441M 270,802M 290,357M
Diluted EPS 260.71 -21.75 328.00 259.05 120.83
Dividends Per Share 120 120 130 150 75
Total Assets 5,481.97B 5,248.75B 5,240.35B 4,985.69B 4,810.72B
Total liabilities 3,377.85B 3,554.88B 3,511.65B 3,695.61B 3,371.33B
Total equity 1,782.05B 1,395.53B 1,411.56B 1,218.34B 1,366.34B
Operating cash flow 95,913M 405,752M 420,349M 452,564M -94,948M
 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 36,144.68M 36,863.57M 36,776.73M 37,170.35M 34,886.25M
Gross Profit 6,770.12M 7,265.49M 6,620.24M 6,186.72M 5,182.11M
Operating income 1,390.22M 1,565.84M 2,081.10M 1,160.37M 491.23M
Income before tax 1,567.29M 353.97M 1,758.95M -300.38M 322.43M
Net income 810.07M -66.05M 994.37M 801.30M 383.18M
EBITDA 3,138.62M 3,133.42M 3,304.40M 2,490.68M 2,737.73M
Diluted EPS 2.40 -0.19 2.95 2.38 1.13
Dividends Per Share 1.10 1.08 1.17 1.37 0.70
Total Assets 49,196.60M 49,353.59M 47,344.74M 46,183.03M 43,535.99M
Total liabilities 30,313.72M 33,426.30M 31,726.59M 34,232.88M 30,509.82M
Total equity 15,992.63M 13,122.12M 12,752.99M 11,285.66M 12,365.09M
Operating cash flow 885.72M 3,660.95M 3,790.52M 4,162.43M -895.25M

Valuation Measures

Mar 2021
Operating margin1.40%
Profit margin1.09%

Key executives

  • President, CEO, Director & Chief Strategy Officer: Seiji Izumisawa
  • CFO, Representative Director & Manager-Corporate: Hisato Kozawa
  • CTO & Managing Executive Officer: Eisaku Ito
  • EVP, Head-Energy Transition & Power Headquarters: Ken Kawai
  • Executive Officer & Manager-Strategy Planning: Masayuki Suematsu


  • Sumitomo Mitsui Trust Asset Management Co., Ltd. (3.9%)
  • Nomura Asset Management Co., Ltd. (3.5%)
  • Meiji Yasuda Life Insurance Co. (2.3%)
  • The Vanguard Group, Inc. (2.1%)
  • Nikko Asset Management Co., Ltd. (2.0%)
  • Bank of Tokyo Mitsubishi UFJ Pension Fund (1.9%)
  • Mitsubishi Heavy Industries Employee Stock Ownership Plan (1.7%)
  • Daiwa Asset Management Co. Ltd. (1.6%)
  • BlackRock Fund Advisors (1.5%)
  • Norges Bank Investment Management (1.1%)

Contact Details

  • Website:
  • Address: 3-2-3 Marunouchi, Chiyoda-Ku, Tokyo, 100-8332, Japan
  • Phone: +81.3.6275.6200

Related Companies

  • Mitsubishi Heavy Industries Engineering Ltd.
  • Mitsubishi Heavy Industries Ltd. /Koyagi Repair Dock/
  • Mitsui Engineering Shipbuilding Co. Ltd. /Ship Business/
  • Mitsubishi Shipbuilding Co., Ltd.
  • Mitsubishi Heavy Industries Ltd. /Koyagi Shipyard Plant/
  • Mitsubishi Heavy Industries Meiki Engines Co., Ltd.
  • Bombardier, Inc. /CRJ Regional Jet Business/
  • MHI Diamond Staff KK
  • MHI Transportation Systems Brasil Ltda.
  • Mitsubishi Heavy Industries Engine & Turbocharger Ltd.
  • Diamond F.C. Partners Co., Ltd.
  • Ryoju Facility & Properties Co., Ltd.
  • Mitsubishi Heavy Industries Thermal Systems Ltd.
  • Diamond WTG Engineering & Services, Inc
  • Mitsubishi Heavy Ind Forklift & Engine Turbocharger Hldgs Ltd.
  • PT Graha Berkat Trading
  • Shinryo Techno Service Co., Ltd.
  • Shinryo Design Ltd.
  • MHI Power Enerji Yatirimlari AS
  • MHI Capital Asia Pacific Pte Ltd.
  • Mitsubishi Heavy Industries Employee Incentive Plan
  • Mitsubishi Heavy Industries Board Incentive Plan II
  • Mitsubishi Heavy Industries Board Incentive Plan I
  • MHI Turbo Engineering Co. (Shanghai)
  • Mitsubishi Heavy Industries BFG Gas Turbine Service (Nanjing)
  • MHI Automotive Climate Control (Thailand) Co. Ltd.
  • Mitsubishi Heavy Industries Engine System (Shenzhen) Co. Ltd.
  • MHI Engine System Middle East FZE
  • MHI Nuclear Engineering Co. Ltd.
  • Mitsubishi Heavy Industries de Mexico SA de CV


  • Siemens AG
  • Babcock & Wilcox Enterprises Inc
  • EMKOREA Co., Ltd.
  • Embraer S.A.
  • Caterpillar Inc.
  • Baker Hughes Company Class A
  • Shenzhen Inovance Technology Co., Ltd Class A
  • Cummins Inc.
  • SINOMACH Heavy Equipment Group Co., Ltd. Class A
  • Spirit AeroSystems Holdings, Inc. Class A
  • Avio SpA
  • Cargotec Oyj Class B
  • HSD Engine Co., Ltd
  • Beijer Ref AB Class B
  • China Shipbuilding Industry Group Power Co., Ltd. Class A
  • Ormat Technologies, Inc.
  • AeroSpace Technology of Korea, Inc.
  • Awea Mechantronic Co. Ltd.
  • PBG S.A.
  • Fuel Tech, Inc.
  • Aquarius Engines (A.M) Ltd.
  • Bruker Corporation
Last Updated on 20 Jan, 2022

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more