May 8, Mitsubishi Corporation

Transcription

1 Results Supplementary for the Six Information Months Ended for the September Year Ended 2016 March 2018 Copyright 2018

2 (Forward-Looking Statements) This release contains forward-looking statements about s future plans, strategies, beliefs and performance that are not historical facts. Such statements are based on the company s assumptions and beliefs in light of competitive, financial and economic data currently available and are subject to a number of risks, uncertainties and assumptions that, without limitation, relate to world economic conditions, exchange rates and commodity prices. Accordingly, wishes to caution readers that actual results may differ materially from those projected in this release and that bears no responsibility for any negative impact caused by the use of this release. (Notes Regarding these Presentation Materials) Consolidated net income in this presentation shows the amount of net income attributable to owners of the Parent, excluding noncontrolling interests. Equity shows the amount of equity attributable to owners of the Parent, excluding noncontrolling interests, which is a component of total equity. Copyright

3 Supplementary Information for the Year Ended March 2018 Contents Page 1. Investment Leverage Ratio 4 2. Consolidated Net Income by Segment Main Investment Balance Amounts in Energy Business and Metals Groups *4Q only Business Operations Supplementary Information by Segment Supplementary Information to the Consolidated Balance Sheets Supplementary Information to the Consolidated Statements of Income / Cash Flows Major Indicators / Exchange Rates Operating Segment Information *4Q only for Underlying operating cash flows, New/Sustaining investments and Sales and collection 9. Balance of Risk Money Outstanding in 12 Countries *2Q/4Q only Copyright

4 Investment Leverage Ratio Investment Leverage Ratio (*1) Capital Allocation Framework Investment assets Total equity and Hybrid capital Debt applied to Investment assets Investment Leverage Ratio Risk assets (illustrative) Balance of risk-weighted assets based on rating agency methodology. Target Cash, Trading-related assets, Other 49% 35% 25% Trading-related debt, Interestbearing debt, Other 40% (*3) 29% (billion yen) Investment Leverage Ratio Capital (*2) Adequacy Ratio (100%) (106%) 8, , , ,935.3 Investments Disciplined Approach to Investment 7, , , ,565.2 Dividends Progressive Dividends 5,167.5 Buy-backs Flexible Buybacks Debt Reduction Strengthening Balance Sheet Mar Mar Mar (*1) Investment Leverage Ratio (%): PP&E+Investments+Lending+Intangible assets and goodwill Total equity+hybrid capital (50% of the Hybrid finance amount) (*2) Capital Adequacy Ratio (%) : Total equity and Hybrid capital Risk assets(%) -100% (*3) Decreased by 2% compared to Dec. 31, 2017, as a result of a reduced investment balance due to sales of general investment assets as well as property, plant and equipment at consolidated subsidiaries, despite the acquisition of additional shares in Mitsubishi Motors Corporation 4

5 Global Environmental and Infrastructure Business Segment (Billion Yen) Consolidated Net Income 1Q 2Q 3Q 4Q Full Year (Forecast) (10.0) (5.3) Year ended Mar 2016 Year ended Mar 2017 Year ended Mar 2018 Year ending Mar 2019 (Billion Yen) Year ended March 2017 Year ended March 2018 YoY Change Full-Year Forecast for Year Ending March 2019 Rate of Progression Gross Profit Equity-method income Improved equity income from Chiyoda Corporation, etc Consolidated Net Income Improved equity income from Chiyoda Corporation and reversal of deferred tax liabilities due to US tax reform, etc Despite one-off gains expected in the power generation business, rebound from the reversal of deferred tax liabilities due to US tax reform in the previous year, etc. - - (Billion Yen) March 2017 March 2018 Segment Assets 1, ,045.6 Copyright

6 Industrial Finance, Logistics & Development Segment (Billion Yen) Consolidated Net Income 1Q 2Q 3Q 4Q Full Year (Forecast) Year ended Mar 2016 Year ended Mar 2017 Year ended Mar 2018 Year ending Mar 2019 (Billion Yen) Year ended March 2017 Year ended March 2018 YoY Change Full-Year Forecast for Year Ending March 2019 Rate of Progression Gross Profit Decrease in gains on domestic real estate asset sales and in transaction volumes in the logistics business, etc Equity-method income Increase in fund evaluation gains and increased income from lease operations, etc Consolidated Net Income Gain from real estate swap, and increases in fund evaluation gains, etc Rebound from real estate swap gain in the previous year, etc. - - (Billion Yen) March 2017 March 2018 Segment Assets Copyright

7 (Billion Yen) Consolidated Net Income Energy Business Segment 1Q 2Q 3Q 4Q Full Year (Forecast) Crude Oil (Dubai) (US$/BBL) Apr-Jun Jul-Sep Oct-Dec Jan-Mar (50.0) (100.0) (Billion Yen) (59.5) (9.8) 55.5 (3.2) (2.8) (0.8) Year ended Mar 2016 Year ended Mar 2017 Year ended Mar 2018 Year ending Mar 2019 Year ended March 2017 Year ended March 2018 YoY Change Gross Profit Increased transaction earnings due to an increase in market prices, etc. Full-Year Forecast for Year Ending March 2019 Year Ended March 2014 Year Ended March 2015 Year Ended March 2016 Year Ended March 2017 Year Ending March Rate of Progression Equity-method income Increased earnings due to an increase in market prices, etc Consolidated Net Income One-off losses due to asset reprofiling and additional tax expense related to withdrawal from resource-related assets, as well as additional provisions for decommissioning cost etc., despite increased earnings and dividend income in the LNG business Increase in earnings and dividend income due to higher market prices, in addition to a rebound from oneoff losses due to asset re-profiling and additional tax expense related to withdrawal from resourcerelated assets, as well as additional provisions for decommissioning cost in the previous year. - - (of which, LNG related) [72.4] [85.9] [13.5] (Billion Yen) March 2017 March 2018 Segment Assets 2, ,074.1 (of which, LNG related) Copyright 2018 [980.3] [1,027.8] 7

8 (Billion Yen) Year ended March 2017 Year ended March 2018 (Billion Yen) (50.0) (400.0) (100.0) YoY Change Gross Profit Equity-method income Consolidated Net Income (of which, MDP) [127.1] [198.0] [70.9] (8.4) (5.5) (9.4) (337.4) (360.7) Metals Segment Consolidated Net Income 1Q 2Q 3Q 4Q Full Year (Forecast) Year ended Mar 2016 Year ended Mar 2017 Year ended Mar 2018 Year ending Mar 2019 Partial mitigation of reduced production and shipments due to Cyclone Debbie, and increase in market prices in the Australian coal business, as well as increase in sales prices in steel products business, etc. Increased earnings due to increased market prices in the copper and iron ore businesses, etc. Increased earnings resulting from partial mitigation of reduc-ed production and shipments in the Australian coal business due to Cyclone Debbie, and increas-ed earnings and dividend income due to increased market prices, etc. Full-Year Forecast for Year Ending March 2019 Rate of Progression Decreased earnings and dividend income due to declining market prices, etc. - - (of which, Copper) [7.2] [37.9] [30.7] (*) Copper shown as total of JECO, JECO 2, MCCH, MCRD, and dividend income at the parent. (Billion Yen) March 2017 March 2018 Segment Assets 3, ,777.3 (of which, MDP) [1,086.3] [1,131.8] (of which, Copper) [594.0] [554.7] Copyright

9 Machinery Segment (Billion Yen) Consolidated Net Income 1Q 2Q 3Q 4Q Full Year (Forecast) (4.7) (20.0) Year ended Mar 2016 Year ended Mar 2017 Year ended Mar 2018 Year ending Mar 2019 (Billion Yen) Year ended March 2017 Year ended March 2018 YoY Change Gross Profit Increased transaction earnings in the Asian automotive business, etc. Full-Year Forecast for Year Ending March 2019 Rate of Progression Equity-method income Increased earnings in the Asian automotive business, etc Consolidated Net Income Rebound on one-off losses in the ship business, gains on sales of ships, and increased earnings in the Asian automotive business, etc Contribution of equity income from Mitsubishi Motors Corporation, etc. - - (Billion Yen) March 2017 March 2018 Segment Assets 1, ,921.1 Copyright

10 Chemicals Segment (Billion Yen) 50.0 Consolidated Net Income 1Q 2Q 3Q 4Q Full Year (Forecast) (0.1) (10.0) Year ended Mar 2016 Year ended Mar 2017 Year ended Mar 2018 Year ending Mar 2019 (Billion Yen) Year ended March 2017 Year ended March 2018 YoY Change Full-Year Forecast for Year Ending March 2019 Rate of Progression Gross Profit Increased transaction earnings due to favorable market conditions, etc Equity-method income Increased income in the petrochemical-related business due to favorable market conditions, etc Consolidated Net Income Increased transaction earnings and income due to favorable market conditions, despite one-off losses due to the recording of deferred tax liabilities in the basic chemicals business, etc Rebound from one-off losses due to the recording of deferred tax liabilities in the basic chemicals business in the previous year, etc. - - (Billion Yen) March 2017 March 2018 Segment Assets Copyright

11 Living Essentials Segment (Billion Yen) Consolidated Net Income 1Q 2Q 3Q 4Q Full Year (Forecast) Year ended Mar 2016 Year ended Mar 2017 Year ended Mar 2018 Year ending Mar 2019 (Billion Yen) Year ended March 2017 Year ended March 2018 YoY Change Gross Profit Increased earnings due to the consolidation of Lawson, Inc., etc. Equity-method income Decrease due to the consolidation of Lawson, Inc., etc. Full-Year Forecast for Year Ending March 2019 Rate of Progression Consolidated Net Income Rebound on one-off gains from the acquisition of Lawson, Inc. as a subsidiary, and in the meat business recorded in the previous period, and one-off losses in the food raw materials business, etc., despite increased earnings from the salmon farming business Rebound from one-off losses in the food raw materials business in the previous year,etc. - - (Billion Yen) March 2017 March 2018 Segment Assets 4, ,599.8 Copyright

12 Main Investment Balance Amounts in Energy Business and Metals Groups 1, ,400 1,200 1,000 (billion yen) Energy Business Goup investment balance amounts Mar 2017 Mar 2018 Mar 2017 Mar 2018 Mar 2017 Mar 2018 LNG Shale Gas E&P Metals Group investment balance amounts Commodity Project MC investee Brunei Malaysia I (Satu) Malaysia II (Dua) Malaysia III (Tiga) NWS Oman Oman Qalhat Brunei LNG Malaysia LNG Malaysia LNG Dua Malaysia LNG Tiga MIMI Oman LNG Qalhat LNG Investment balance amounts at Mar.31, 2017(*1) (billion yen) Investment balance amounts at Mar.31, 2018(*1) Russia LNG Sakhalin II Sakhalin Energy Indonesia Tangguh MI Berau Indonesia Donggi-Senoro Wheatstone Sulawesi LNG (billion yen) Cameron Cameron LNG Browse LNG Canada PEW MIMI Browse Diamond LNG Canada Shale Gas Montney Cutbank Dawson Gas Resources Block 3/05, 3/05A Angola Japan Oil E&P Kangean Energi Mega Pratama Kimberly BMA HVO Clermont Diamond Resources(Canning),(Fitzroy) MDP MDP MDP Mar 2017 Mar 2018 Mar 2017 Mar 2018 Ferrous raw materials Copper Ulan MDP Ferrous raw materials(*2) 1,170 Warkworth MDP Jack Hills/ Oakajee Port & Rail IOC CMP Escondida MDP IOC MCI(CMP) JECO JECO2 Los Pelambres MCCH Copper Anglo American Sur MCRD Antamina Quellaveco CMA MCQ Copper 1,010 Copyright 2017 (*1) Total amount for investment securities, property and equipment, intangible assets and good will. The figures above may not be equal to the amount shown in the Operating Segment Information, since they comprise only amounts associated with the projects listed. (*2) Includes coal, iron ore, and uranium. 12

13 New Energy & Power Generation Business /Environmental Business Global Environmental & Infrastructure Business Group Diamond Generating Europe (DGE UK) Development and Operation of Power Generations in EMEA Diamond Transmission Corporation (DTC UK ) Development and Operation of Transmission Business in Europe Geothermal Power Plant (EPC, Under Construction) (Kenya) Gas fired Power Plant (EPC, Under Construction) (Uzbekistan) Power (MCP Japan) Development and Operation of Power Generations in Japan MC Retail Energy (MCRE Japan) Electricity Retailing in Japan Power Plant (EPC, Under Construction) ( Republic of China) Machinery (MCM Japan) EPC(*1) Business in power, steel, chemical plants and railway systems Diamond Generating Asia (DGA Hong Kong) Development and Operation of Power Generations in Asia and Oceania Region Lithium Enegy Japan (LEJ Japan) Manufacturing Business of Battery Gas fired Power Plant (EPC, Under Construction) (Indonesia) Diamond Generating Corporation (DGC USA) Development and Operation of Power Generations in North America Nexamp (USA) Distributed Solar Generation Business in North America Diamond Generating Corporation Mexico (Mexico) Development and Operation of Power Generations in Mexico Assets in each Region and Number of the Assets (as of Mar. 31, 2018) Region Generation Capacity (Net Equity Base) / Transmission Distance No. of Operating Assets No. of Assets Under Construction Power Generation Americas 2,600MW 12 3 Asia and Oceania 1,180MW 13 1 EMEA 380MW 12 2 Japan 650MW 20 3 TOTAL 5,000MW Transmission TOTAL 900km (4,400MW)(*2) 8 0 Copyright 2018 (*1) EPC :Engineering, Procurement, Construction (*2)Transmission Capacity 13

14 Infrastructure Business Global Environmental & Infrastructure Business Group Fertilizer Plant (EPC, Under Construction) (Turkmenistan and Uzbekistan) South Staffordshire (UK) Water supply service including O&M and asset management as well as customer management and billing services. TCV Stevedoring Company -Port of Valencia (Spain) Providing Asset Management services, EPC and O&M. Doha Metro (EPC, Under Construction) (Qatar) Metito Holdings Ltd. (UAE) SAIL Construction of Hot Strip Mill (EPC, Under Construction) (India) New Ulaanbaatar International Airport (EPC, Mongolia) Swing Corporation. (Japan) Water company based in Tokyo. Providing Asset Management services, EPC and O&M. Machinery (MCM Japan) EPC Business in power, steel, chemical plants and railway systems. Dhaka Metro (EPC, Under Construction) (Bangladesh) Mandalay International Airport (Myanmar) Canberra Light Rail Transit (Under Construction) (Australia) FPSO(*)Charter (Brazil) Operation and maintenance of 3 FPSOs which produce crude oil and natural gas from deepwater oil fields, in collaboration with SBM Offshore. Aguas CAP (Chile) Providing desalinated water for mining sites in Chile. (*)Floating Production, Storage and Offloading System Photo: Copyright SBM Offshore Copyright

15 Global Real Estate Development and Asset Management Global Environmental & Infrastructure Business Group Japan Europe Development Industrial Properties, Hotel, Retail Properties, Data Center Condominium, Large-scale Urban Real Estate China Management Real Estate Debt Fund Development Condominium Management J-REITs (Retail, Industrial & Infrastructure, Office Building) Private Real Estate Fund, Private REITs Myanmar Development Industrial Park, Large Mixed-Use Redevelopment Philippines Development Condominium Development Condominium Management Core Plus Real Estate Equity Fund Growth of Investment Growth of AUM (Asset Under Management) Index : FY2016 = 100 Index: FY2016 = 100 Japan North America China ASEAN FY2016 Copyright 2018 Development Student Housing, Multifamily, Industrial Properties, Medical Office Development Condominium, Office Building, Industrial Park Vietnam Indonesia North America ~ FY2020 FY2016 ~ FY

16 Global Energy Resource-related Businesses Energy Business Group Energy Business Group Equity Share of Production (Thousand BBL/day) 250 Equity Share of Oil and Gas Production Volume (Yearly Average) (*1) 244 MC s Reserves Crude oil / Condensate Natural Gas Natural Gas 0 Copyright est (*1) Oil equivalent. Includes consolidated subsidiaries and equity-method affiliates. (*2) Participating interest equivalent. Includes reserves based on MC s in-house methodology. Total 1.97 billion barrels (*1) (*2) (As of Dec 31, 2017) 16

17 <Existing Projects> Project Beginning of Production Involvement in LNG Projects Energy Business Group Annual Production Capacity (Million Ton) Buyer Seller Shareholding Total MC s share Brunei % JERA, Tokyo Gas, Osaka Gas, etc. Brunei LNG Malaysia I (Satu) Malaysia II (Dua) Malaysia III (Tiga) North West Shelf % JERA, Tokyo Gas, Saibu Gas % % % Tohoku Elec., Tokyo Gas, Shizuoka Gas, Sendai City Gas Authority, JXTG Holdings, Korea Gas, CPC Tohoku Elec., Tokyo Gas, Osaka Gas, Toho Gas, JAPEX, Korea Gas, Shanghai LNG Tohoku Elec., JERA, Tokyo Gas, Shizuoka Gas., Toho Gas, Kansai Elec., Osaka Gas, Chugoku Elec., Kyushu Elec., Guandong Dapeng LNG Malaysia LNG Malaysia LNG Dua Malaysia LNG Tiga Brunei Gov. (50%), Shell(25%), MC (25%) Petronas (90%), Sarawak Gov. (5%), MC (5%) Petronas (80%), Sarawak Gov. (10%), MC (10%) Petronas (60%), Sarawak Gov. (10%), Shell (15%), JXTG Holdings (10%), MC (4%), JAPEX (1%) (*1) Business Contribution: A Investment in exploration & development (upstream), B: Investment in liquefaction plant, C Marketing and/or import agent, D: Shipping Copyright 2018 NWS JV Oman % Osaka Gas, Korea Gas, Itochu Corp. Oman LNG Qalhat % Osaka Gas, MC, Union Fenosa Gas (Spain) Qalhat LNG Russia Sakhalin II Indonesia Tangguh (*2) Indonesia Donggi - Senoro Oil: 2008 (year-round production), LNG: % % JERA, Tokyo Gas, Kyushu Elec., Toho Gas, Hiroshima Gas, Tohoku Elec., Saibu Gas, Osaka Gas, Korea Gas, Shell, Gazprom Tohoku Elec., Kansai Elec., SK E&S, POSCO, Fujian LNG, Sempra Energy, etc % JERA, Korea Gas, Kyushu Elec., etc. Wheatstone % JERA, Tohoku Elec., Kyushu Elec., etc. (incl. Equity Lifting) Sakhalin Energy Tangguh JV PT.Donggi- Senoro LNG Wheatstone Sellers (Equity Lifting) Shell, BP, BHP, Chevron, Woodside, MIMI [MC/Mitsui & Co.=50:50], 1/6 respectively Oman Gov. (51%), Shell (30%), Total (5.54%), MC (2.77%) etc. Oman Gov. (47%), Oman LNG (37%), Union Fenosa Gas (7%), Osaka Gas (3%), MC (3%) etc. Gazprom (50%+1share), Shell (27.5%- 1share), Mitsui & Co. (12.5%), MC (10%) BP (37.2%), MI Berau [MC/INPEX=56:44] (16.3%), CNOOC (13.9%), Nippon Oil Exploration Berau (12.2%) etc. Sulawesi LNG Development Limited [MC/Korea Gas=75:25](59.9%), PT Pertamina Hulu Energi(29%), PT Medco LNG Indonesia(11.1%) Chevron (64.136%), KUFPEC (13.4%), Woodside (13%), Kyushu Elec. (1.464%), PEW (8%; of which MC holds 39.7%) MC s Participation (*) (*PSA conclusion) Business Contribution (*1) Total (*2) Tangguh LNG Train 3 (3.8 mil. ton) under construction, production start planned mid <Projects Under Construction> Cameron % MC, Mitsui & Co., ENGIE (Toller) Cameron LNG Sempra Energy (50.2%), Japan LNG Investment (16.6%, of which MC holds 70%), Mitsui & Co. (16.6%), ENGIE (16.6%) 2013 A B C D A B C D A B C D A B C D A B C D A B C D A B C D A B C D A B C D A B C D A B C D A B C D 17

18 Global Metal Resource-Related Businesses Metals Group Product Project Country Annual Production Capacity (*1) Main Partners MC Share Coking Coal BMA Australia Coking Coal, etc., 60 mt (*2) BHP 50.00% Escondida Chile Copper 1,200 kt BHP, Rio Tinto 8.25% Los Pelambres Chile Copper 410 kt Luksic Group (AMSA) 5.00% Anglo American Sur Chile Copper 349 kt(*3) Anglo American 20.4% Copper Antamina Peru Copper 450 kt, Zinc 400 kt BHP, Glencore, Teck 10.00% Quellaveco Peru Feasibility study in progress. (Planned Annual Production: Copper 220kt) Anglo American 18.10% Gresik (Smelting) Indonesia Copper 300 kt PT Freeport Indonesia, Mitsubishi Materials, JX Nippon Mining & Metals 9.50% (*1) Production capacity shows 100% volume of the project. (*2) Annual production capacity is not public, FY2017 year production volume is used here. (*3) Annual production capacity is not public, CY2017 year production volume is used here. Copyright

19 Coal Business (Sales, Production, Price and Exchange Rate) Metals Group BMA Annual Production and Sales Volume (50% Basis) (*) AUS / USD Average Exchange Rate US$/A$ 1Q 2Q 3Q 4Q Year Ended Mar Year Ended Mar Year Ended Mar Year Ended Mar Year Ending Mar (*) Due to rounding, the quarterly figures do not necessarily add up to the total annual figures. Source: Mitsubishi UFJ Research and Consulting (*) The above exchange rates are cumulative average rates from 1Q up to each quarter. (*) The above exchange rates differ from those actually used by MDP. Benchmark Price Trend of Australian High-Quality Hard Coking Coal to Japan Special Notices Source:Platts, a division of McGraw Hill Financial, Inc., Argus Media Limited Copyright 2018 BMA production for the March 2018 quarter was almost flat around 8.0 mil mt on a year on year basis. The production decreased due to the impacts of ongoing challenging roof conditions at Broadmeadow and geotechnical issues triggered by wet weather at Blackwater. It was offset by improved stripping performance and higher wash-plant throughput from debottlenecking activities. In March 2018, BMA reached agreement on the Enterprise Agreement with employees (covering 2,200 workers at six BMA mines) and it is currently with the Fair Work Commission for approval. 19

20 Copper Businesses Metals Group Equity Share Production (*) (*) Due to rounding, the quarterly figures do not necessarily add up to the total annual figures. CY2016 Total CY2017 Total CY2018 Total 60.0 LME Copper Price (Monthly Average) 1AAS < 特 Special 記事 Notices 項 > (Production in Jan-Mar 2018 vs the equivalent period in 2017) Production from Los Bronces increased due to a combination of strong mine and plant performance and an increase in ore grade. El Soldado production increased by 2%. ➁Escondida Mine (Production in Jan-Mar 2018 vs the equivalent period in 2017) Escondida Copper production for the March 2018 quarter was significantly higher than the March quarter of 2017, due to the labor union strike that impacted production in February and March of last year, and the start-up of the Los Colorados Extension (LCE) project on 10 September Copyright

21 Global Automobile-Related Business (MMC MFTBC-Related) Machinery Group SDS Automobile finance CCC Distributor UK Mil Units 2MMC 27.2K Units (1.0%) MBP / Distributor Portugal 10.27Mil Units 2MMC 2.9KUnits (1.1%) MFTBC 1.0K Units (0.4%) MCEB / Auto mobile finance Germany 13.48Mil Units 2MMC 46K Units (1.3%) MMCR / Distributor MCFR / Automobile finance MCBR / Automobile finance Russia 11.67Mil Units 2MMC 30.3K Units (1.8%) MMCP / Distributor Poland 1500K Units 2MMC 4.2K Units (0.8%) MMSCN(Shanghai) Distributor GMMC(Changsha) Production/ Distributor China (*1) Mil Units 2MMC 133K Units (0.46%) SAME(Shenyang) Engine production DAE(Harbin) Engine production <Information as of Mar. 31, 2018> Country/Region 1 Overall Demand 2 Vehicle sales of MC s partner car maker (share) From Apr.2017 to Mar.2018 Distributor Assembling/ Distributor Production Export B&M / Distributor Spain Mil Units 2MMC 11.1KUnits (0.9%) DM Export from Japan Morocco 1165K Units 2MMC 1.3K Units (0.8%) BTL Export from Japan South Africa 1526K Units 2MMC 1.6K Units (0.3%) Copyright 2018 LM/SAM Export from Japan Tunisia 1 60K Units 2 MMC 0.3K Units (0.5%) MMCU / Distributor Ukraine 183K Units 2MMC 2.3K Units(2.8%) HMFCL Export from Japan India 14.11Mil Units 2MMC 0.5K Units (0.01%) (*1)MMC s sales figures in China/Taiwan only include Mitsubishi brand cars. (*2A) Passenger Car + Light Commercial Vehicle Segment Share: 10.3% (*2B) Commercial Vehicle Segment Share: 44.5% (*3) Commercial Vehicle Segment Share: 10.6% MMM Production/ Distributor Vietnam 1184K Units 2MMC 7.1K Units (3.9%) MMM Distributor/ Assembling Malaysia 10.57Mil Units 2MMC 7.4K Units (1.3%) CMC Production/ Distributor Taiwan(*1) 10.4Mil Units 2MMC 21K Units (5.0%) MMCM Distributor Myanmar 1N/A 2MMC 0K Units (N/A) KTB Distributor (MFTBC) KRM Assembling MKM Engine / Press components production MMKI Production MMC) MMCC Distributor Chile 1369K Units 2MMC 13.7K Units(3.7%) MMKSI Distributor (MMC) DSF Automobile finance BAS Used cars sales & rental cars BSI IT system Indonesia 11.11Mil Units 2MMC 103.6K Units (9.4%) (*2A) MFTBC 44.6K Units (4.1%) (*2B) Automobile Finance Others MCAP Distributor Peru 1 182K Units 2 MMC 4.8K Units (2.7%) MFTBC 1.9K Units (1.1%) (*3) HPE Export from Japan Brazil 12.26Mil Units 2MMC 22.7K Units (1.0%) 21

22 Global Automobile-Related Business (Isuzu-Related) Machinery Group LCV: Light Commercial Vehicle CV: Commercial Vehicle <Information as of Mar. 31, 2018> Distributor Production ISD Germany, Austria, Czech Import & sales Germany LCV 1.3K Units IMI Import, assembling & Sales India LCV 5.2K Units IPC Import, assembling & sales Philippines LCV 22.6K Units CV 7.5K Units IMEX Import, assembling & Sales Mexico CV 3.9K Units Distributor/ Assembling Automobile finance Retail/ After service Export/Sales Others Isuzu car sales (Total of FY2017) IBX Benelux & Poland Import & sales Belgium LCV 0.8K Units MC is jointly developing business with Isuzu centered on Thailand, where MC has been selling vehicles for over 60 years. LCVs produced in Thailand are exported and sold throughout the world. MC is also expanding sales of CVs to emerging countries and regions. Copyright 2018 IMSB Import & sales Malaysia LCV 5.1K Units CV 5.5K Units IUA Import & sales Australia LCV 27.2K Units IMIT Export & sales Thailand (export) Export LCVs CBU 85.2K Units KD 75.6K Units CBU: Entire cars KD: Kits of parts TIS Sole distributor IAS Dealer TPIS Automobile Insurance TIL Automobile finance AUTEC Bus & truck maintenance, sales & services for GM vehicles TPIT Software development, maintenance & management administration Thailand (Domestic) Overall demand 871.7K Units LCV 148.4K Units CV 14.7K Units IMCT Production TISCO Services & parts sales for Isuzu vehicles PTB Driver Dispatch 22

23 Life Science (Food Science Business) Chemicals Group MC s Business Global Market Source: Leatherhead Food Research Sales: Approx. 150 billion yen 50 Billion USD Scope of business: Employees: Approx. 2,900 Production, sales, export, and import of seasonings, sweeteners, yeast-related materials, confectionery / bakery materials, liquors for cooking and confectionery, medicine raw materials and other industrial chemical products Production locations: Japan 10, Overseas 8 (China 2 / Indonesia 3 / Thailand 1 / Spain 1 / USA 1) Sales office locations: Japan / United States / Netherlands / China 年 12 年 14 年 16 年 18 年 20 年 その他 Others 乳化剤 Emulsifier 味料 Sweeteners 酸味料 Acidulant 増粘多糖類 Hydrocolloids 調味料 Seasonings MCLS Europe B.V. Netherlands Sales & Marketing for Food Ingredients Tartaros Gonzalo Castello, S.L. Spain Tartrates and Tartaric Acid Production Copyright 2018 MC Food Specialties (China) Co., Ltd. China HVP, Seasoning Blends Production and Sales & Marketing Qingdao Kyowa Wanfu Foods Co., Ltd. China Freeze Dry Foods Production Life Sciences Limited Regional Headquarters, Asia & Oceania Singapore Marketing for Food Ingredients PT. Sorini Towa Berlian Corporindo Indonesia Sorbitol / Hydrogenated Starch / Hydrolysates Production PT. Fermentech Indonesia Indonesia Nucleotides, Curdlan Gum Production MC-Towa International Sweeteners Co., Ltd. Thailand Maltitol (Crystalline / Syrup ) Production Growth in demand for Food Science In emerging countries, demand for the processed food is increasing due to their population growth, while in developed countries demand is increasing for health and safety. Growth at 8-10% per year in emerging markets, mainly Asia. PT. Centram Indonesia Carrageenan Production Life Sciences Limited Holding Company Japan Mitsubishi Shoji Foodtech Co., Ltd. Production and Sales & Marketing for Polyols / Preservatives / Stabilizers / Formulated Condiments Kohjin Life Sciences Co., Ltd. Production and Sales & Marketing for Yeast Extracts / Functional Ingredients (Glutathione etc.) MC Food Specialties Inc. Production and Sales & Marketing for Extracts / Brewed Seasonings / Yeast Extracts/ Nucleotides / Amino Acid Seasonings / Bakery Confectionery Materials / Freeze Dry Foods etc. Mitsubishi International Food Ingredients, Inc. USA Sales & Marketing for Food and Nutraceutical Ingredients in North America Carolina Ingredients, LLC USA Production and Sales & Marketing for Food Ingredients in North America 23

24 Global Food Business Living Essentials Group Product Production, Procurement & Processing Manufacturing Distribution Retail Subsidiaries Affliates Marine Product Cermaq (Norway, Chile, Canada: Salmon & Trout) Sanyo Foods (Japan: Marine Products) Toyo Reizo (Japan: Marine Products) Soy Corn Sugar Starch Wheat Meat Agrex (USA, Brazil, Australia: Grain) Nosan Corp. (Japan: Feed) Japan Farm (Japan: Meat) Dai-Nippon Meiji Sugar (Japan: Sugar) Nihon Shokuhin Kako (Japan: Starch & Sweetener) Nitto Fuji Flour Milling (Japan: Flour) Itoham Yonekyu Holdings (Japan: Meat) Indiana Packers (USA: Meat) Kanro (Japan: Confectionary) Yamazaki Indonesia (Indonesia:Bakery) JVs with Nissin Foods HD(*1) (Instant Noodle) Princes (UK: Food) Foodlink (Japan: Meat) Mitsubishi Shokuhin (Japan: Food) Atri Distribusindo (Indonesia: Food & Consumer Products) Lawson (Japan: Convenience Store) Life Corporation (Japan: Supermarket) KFC Holdings Japan (Japan: Food Restaurant Chain) Consumers Coffee Cocoa Edible Nuts Spices Sesame Rice etc. Olam (Singapore: Food Materials) Ipanema (Brazil: Coffee) Sesaco (USA: Sesame) JVs with Kewpie(*2) (Condiments) Art Coffee (Japan: Coffee) TH Foods (USA: Rice Crackers) Kadoya Sesame Mills (Japan: Sesame Seed Oil) Lluvia (Myanmar: Food) MC Agri Alliance (Japan: Food Materials) MCMS (Hong Kong: Food) Sumber Alfaria Trijaya Tbk (Indonesia: Minimart) (*1)Indonesia, Singapore, Thailand, India (*2)Indonesia, Malaysia, Vietnam Copyright

25 Main Subsidiaries and Affiliates Living Essential Group Apparel Retailing Compound Feed Manufacturing Nosan Corp. Food Materials Distribution MC Agri Alliance Construction Materials Distribution Mitsubishi Shoji Construction Materials Retail Division Living Essential Distribution Division UNIQLO (RUS) Livestock Meat Processing Marine Products Distribution Living Essential Consumer Products Division Salmon & Trout Farming Japan Farm Itoham Yonekyu HD Toyo Reizo Fresh Food Products Division Cermaq Norway Food Manufacturing & Distribution Princes Clothing, Household Goods Retailing Muji Europe Holdings Flour Milling Nitto Fuji Milling Food Distribution Mitsubishi Shokuhin Supermarket Life Corporation Starch & Sweetener Processing Nihon Shokuhin Kako Packaging Materials Distribution Mitsubishi Shoji Packaging Convenience Store Lawson Confectionary Manufacturing Kanro Medical Supplies Distribution MC Healthcare Loyalty Program Service Loyalty Marketing Salmon & Trout Farming Cermaq Canada Living Essential Resources Division Grain & Oilseeds Marketing Procurement Agrex Inc. Rice cracker Manufacturing TH Foods Meat Processing Medical Supplies Distribution Indiana Packers Tire Marketing First Japan Tire Services Shrimp Farming TMAC Food Manufacturing & Distribution Lluvia Tapioca Starch Processing AMSCO Sinopharm MC Hospital Service Condiments Manufacturing Kewpie Vietnam Grain & Oilseeds Marketing in China Agrex Baijing Baby Diapers Manufacturing EIMI EITI Pharmaceuticals & Medical Supplies Distribution Baijing Huahong / Tianxing puxin Condiments Manufacturing Kewpie Indonesia Sesame Production & Marketing Sesaco Clothing, Household Goods Retailing Muji U.S.A. Coffee Production Ipanema Instant Noodle Manufacturing Nissin Foods Thailand Apparel Retailing Tire Marketing Bridgestone Sales Thailand Condiments Manufacturing Kewpie Malaysia Apparel Retailing PT. Fast Retailing Indonesia Silica Sand Mining Instant Noodle Manufacturing Nissin Foods Indonesia Grain & Oilseeds Production & Procurement Agrex do Brasil UNIQLO (Thailand) Company Cape Flattery Grain & Oilseeds Procurement Salmon & Trout Farming Grain & Oilseeds Marketing in South East Asia Food Materials Production & Procurement Instant Noodle Manufacturing Agrex Australia Cermaq Chile Copyright 2018 Agrex Asia Olam Nisshin Foods Singapore 25

26 Supplementary Information to the Consolidated Balance Sheets [Assets] (Billion yen) Main items 3/31/2017 3/31/2018 Increase/decrease Main changes Current assets 6, , Cash and cash equivalents 1, , Reflects decrease due to repayment of borrowings Trade and other receivables 3, , Reflects increase due to the end of the period falling on a holiday, and higher transaction prices and volumes Inventories 1, , Reflects higher transaction prices Advance payments to suppliers Reflects decrease due to deliveries Non-current assets 9, , Investment accounted for using the equity method 2, , Reflects increase due to additional acquisitions and reclassification from other investments Other investments 2, , Reflects decrease due to reclassification to investments accounted for using the equity Property, plant and equipment 2, , Reflects decrease due to sale Total assets 15, , [Liabilities] (Billion yen) Main items 3/31/2017 3/31/2018 Increase/decrease Main changes Current liabilities 4, , Trade and other payables 2, , Reflects increase due to the end of the period falling on a holiday, and higher transaction prices and volumes Advances from customers Reflects decrease due to deliveries Other current liabilities Reflects increase due to leasing-related debt Non-current liabilities 5, , Borrowings 4, , Reflects decrease due to reclassification to short-term borrowings Total liabilities 9, , [Shareholders' Equity] (Billion yen) Main items 3/31/2017 3/31/2018 Increase/decrease Main changes Equity attributable to owners of the Parent 4, , Other investments designated as FVTOCI Reflects increase due to higher mark-to-market gain on shares Retained earnings 3, , Reflects increase due to net income (+560.2), dividends paid (-153.8) Non-controlling interests Reflects increase due to sale of shares in subsidiaries Total equity 5, , Total liabilities and equity 15, , Copyright

27 Supplementary Information to the Consolidated Statements of Income / Cash Flows [Profit and Losses] Main items (Billion yen) Year ended Mar 17 Year ended Mar 18 Increase/decrease Selling, general and administrative expenses (932.6) (1387.3) Provision for doubtful receivables (7.9) (1.2) 6.7 Gains (losses) on investments Gain (loss) on FVTPL Gain (loss) on affiliated companies 59.8 (0.9) (Impairment loss) (0.8) (6.4) -5.6 (Gain on liquidation) Gains and losses on disposal of property, plant and equipment Gain on sales Loss on retirement and disposal (4.9) (8.9) -4.0 Finance income Interest income Dividend income Finance costs (Consists entirely of interest expenses) (49.5) (52.3) (2.8) [Cash Flows] (Billion yen) Main items Year ended Mar 17 Year ended Mar 18 Increase/decrease Main changes Cash flows from operating activities (*) Cash flows from investing activities (179.6) (317.6) Cash flows from operating activities increased by billion yen, mainly due to increase in operating transactions and in dividend income etc., despite the payment of income taxes. Cash flows from investing activities decreased by billion yen, mainly due to investment in affiliates, such as the acquisition of Mitsubishi Motors Corporation stock, and capital expenditure Free cash flow Cash flows from financing activities (752.2) (554.3) (*) Dividends received from equity-method affiliates Cash flows from financing activities increased by billion yen, mainly due to the change in demand for working capital, etc. Copyright

28 Major Indicators / Exchange Rates [Major Indicators] 3/31/2017 3/31/2018 Increase/decrease Current ratio 138.3% 137.9% -0.4% Total shareholders' equity ratio (*1) 31.2% 33.3% 2.1% Equity (*1) per share (yen) 3,101 3, Interest-bearing debt (Gross) (Billion yen) 5, , Interest-bearing debt (Net) (Billion yen) 3, , Year ended Mar 17 Year ended Mar 18 Increase/decrease Year ended Mar 18 Year ending Mar 19 (forecast) Increase/decrease ROE (*2) 9.3% 10.9% 1.6% 10.9% 10.8% -0.1% ROA (*2) 2.9% 3.5% 0.6% 3.5% 3.6% 0.1% (Reference) ROE excluding the impact of other components of equity (*2) 11.4% 13.3% 1.9% 13.3% 13.0% -0.3% (*1) "Equity" shows the amount of equity attributable to owners of the Parent under total equity, excluding non-controlling interest. (*2) ROE and ROA are both calculated with net income attributable to owners of the Parent as the numerator. [Exchange Rates] 3/31/2017 3/31/2018 [US$1] yen appreciation [AUS$1] yen appreciation [EUR1] yen depreciation Copyright

29 Operating Segment Information (Year Ended March 2018) (Billion yen) Main Balance Sheet Items Global Environmental & Infrastructure Industrial Finance, Logistics & Development Energy Business Metals Machinery Chemicals Living Essentials Others Total Total assets 1, , , , , ,037.0 Investments accounted for using the equity method ,050.4 Property, plant, equipment and investment property (*1) ,178.4 Intangible assets and goodwill (*2) ,003.3 Other investments ,203.2 (*1) As of this release, the corresponding figures represent the total of Property, plant, equipment and investment property. (*2) More than half is comprised of intangible assets (incl. those subject to depreciation). As an all-goodwill approach is applied, this also includes goodwill attributable to minority shareholders. Energy Business Metals Machinery Energy Business / Metals / Machinery LNG Shale Gas Upstream business etc. Others MDP Copper Others Commercial Vessels Others Investments accounted for using the equity method Property, plant, equipment and investment property Intangible assets and goodwill Other investments Main Income Statement Items Global Environmental & Infrastructure Industrial Finance, Logistics & Development Energy Business Metals Machinery Chemicals Living Essentials Others Total Gross profit ,886.6 SG&A expenses (53.4) (39.6) (59.1) (150.0) (127.9) (91.7) (820.3) (45.3) (1,387.3) Dividend income Income from investments accounted for using the equity method (0.4) Net income (0.4) Copyright

30 Operating Segment Information (Year Ended March 2018) Main Cash Flow Items Global Environmental & Infrastructure Industrial Finance, Logistics & Development Energy Business Metals Machinery Chemicals (Billion yen) Living Essentials Underlying operating cash flows New/Sustaining investments (73.0) (135.0) (95.0) (70.0) (194.0) (18.0) (192.0) Sales & Collection Free cash flow (underlying operating CF basis) (12.0) New/Sustaining investments: Main items Overseas power generation business Real Estate business, Aircraft leasing business Shale gas business Coal business in Australia (Sustaining capex etc.) Mitsubishi Motors Corp. Food science business Convenience store business Sales & Collection: Main items Aircraft leasing Overseas power business transmission business Real Estate business Petroleum business (Sale of listed shares) Coal business in Australia (Partial sale of Ship business - thermal coal business) Meat business(sale of listed shares) Global Environmental & Infrastructure Industrial Finance, Logistics & Development Energy Business Metals Machinery Chemicals Living Essentials Depreciation and amortization Others Total Copyright

31 Operating Segment Information (Year Ended March 2017) (Billion yen) Main Balance Sheet Items Global Environmental & Infrastructure Industrial Finance, Logistics & Development Energy Business Metals Machinery Chemicals Living Essentials Others Total Total assets 1, , , , , , ,753.6 Investments accounted for using the equity method ,651.3 Property, plant, equipment and investment property (*1) , ,532.7 Intangible assets and goodwill (*2) ,010.3 Other investments ,291.5 (*1) As of this release, the corresponding figures represent the total of Property, plant, equipment and investment property. (*2) More than half is comprised of intangible assets (incl. those subject to depreciation). As an all-goodwill approach is applied, this also includes goodwill attributable to minority shareholders. Energy Business Metals Machinery Energy Business / Metals / Machinery LNG Shale Gas Upstream business etc. Others MDP Copper Others Commercial Vessels Others Investments accounted for using the equity method Property, plant, equipment and investment property Intangible assets and goodwill Other investments Main Income Statement Items Global Environmental & Infrastructure Industrial Finance, Logistics & Development Energy Business Metals Machinery Chemicals Living Essentials Others Total Gross profit ,328.6 SG&A expenses (45.4) (42.2) (55.4) (148.0) (126.3) (89.7) (385.8) (39.8) (932.6) Dividend income Income from investments accounted for using the equity method Net income Copyright

32 Operating Segment Information (Year Ended March 2017) Main Cash Flow Items Global Environmental & Infrastructure Industrial Finance, Logistics & Development Energy Business Metals Machinery Chemicals (Billion yen) Living Essentials Underlying operating cash flows New/Sustaining investments (43.0) (95.0) (98.0) (38.0) (67.0) (10.0) (211.0) Sales & Collection Free cash flow (underlying operating CF basis) (48.0) New/Sustaining investments: Main items Overseas power Real estate business, generation business fund-related business Shale gas business Coal business in Australia (Sustaining capex) Rental business, motor vehicle business Plastic business, food science business (Sustaining capex) Convenience store business (Acquisition of Lawson Inc.) Sales & Collection: Main items Fund-related Overseas power business, real estate generation business business LNG business Steel products business, withdrawal from Indonesian nickel business Ship business Life-science business (Sale of listed shares) Retail business Global Environmental & Infrastructure Industrial Finance, Logistics & Development Energy Business Metals Machinery Chemicals Living Essentials Depreciation and amortization Others Total Copyright

33 Balance of Risk Money Outstanding in 12 Countries (As of March 31, 2018) (Investments, Loans and Guarantees: Consolidated Basis) (Billion yen) Investments (*) Loans Guarantees Risk Money Total Amounts Hedged Net Risk Money 3/31/2018 9/30/2017 Change 3/31/2018 9/30/2017 Change 3/31/2018 9/30/2017 Change 3/31/2018 9/30/2017 Change 3/31/2018 9/30/2017 Change 3/31/2018 9/30/2017 Change Mexico Chile Brazil Peru countries total Russia country total Saudi Arabia country total India Indonesia Thailand China Philippines Malaysia countries total 1, , , , , , (*) As of this release, the corresponding figures are adjusted for investees' net assets holdings/fair value etc. The figures of March 31, 2018 are representing the sum of non-consolidated investment book value of the March 31, 2018 and net assets holdings/fair value on September 30,2017 for descriptive purposes. Copyright

34 Balance of Risk Money Outstanding in 12 Countries (As of March 31, 2018) (Trade Receivables, etc. : Non-Consolidated Basis; Incl. Regional Subsidiaries) (Billion yen) Gross Amounts Hedged Net Risk Money 3/31/2018 9/30/2017 Change 3/31/2018 9/30/2017 Change 3/31/2018 9/30/2017 Change Mexico Chile Brazil Peru countries total Russia country total Saudi Arabia country total India Indonesia Thailand China Philippines Malaysia countries total Copyright