Mitsubishi Q1 profit down 43 per cent, beats forecasts despite offshore wind hit

This year, profit was mainly down due to the absence of gains from asset sales and because of lower prices in the Australian steelmaking coal business, the company said.

Mitsubishi left its forecast for the fiscal year ending next March unchanged at JPY700 billion.

Asked about the impact of US tariffs, Chief Financial Officer Yuzo Nouchi said there was no notable direct impact on first-quarter earnings, although some indirect effects were felt through affiliates.