F3/27 1Q Results: Profit Progress Weak; Few Factors That Could Raise Expectations for Humanoid Robots

研报英文原文证据摘录

F3/27 1Q Results: Profit Progress Weak; Few Factors That Could Raise Expectations for Humanoid Robots

Update

August 3, 2026 02:51 PM GMT

Morgan Stanley MUFG Securities Co., Ltd.+MMitsubishi Motors (7211) | Japan Hiroto Segawa

Equity Analyst

F3/27 1Q Results: Profit Hiroto.Segawa@morganstanleymufg.comShinji Kakiuchi +81 3 6836-8403

Shinji.Kakiuchi@morganstanleymufg.com +81 3 6836-5416

Progress Weak; Few Factors Hayato Takashima

Hayato.Takashima@morganstanleymufg.com +81 3 6836-5414

That Could Raise Expectations

for Humanoid Robots

AlphaSignals Earnings Reaction

Mitsubishi Motors (7211.T, 7211 JP)

Unchanged Modest shortfall Modest revision lower Autos & Shared Mobility | Japan

Impact to our thesis Financial results versus consensus Direction of next 12-month

consensus EPS Stock Rating Equal-weight

Industry View In-Line

Source: Company data, Morgan Stanley Research Price target ¥400

Shr price, close (Aug 3, 2026) ¥358

Mkt cap, curr, basic (bn) ¥479.3

Key Takeaways Avg daily trading value (bn) ¥4.3

Apr-Jun profit came in below consensus, leaving a slightly negative impression.

Sales were weak partly due to the Middle East situation, while higher raw

material costs also weighed.

ASEAN and Australia: Competition with Chinese OEMs worsened due to higher

gasoline prices. In the Philippines, the auto market temporarily cooled following

the declaration of a state of emergency.

No meaningful additional information on the joint development of humanoid

robots that could raise market expectations. Details on collaboration with Honda

and Nissan were also limited.

Supply chain risks remain due to the possibility that the Strait of Hormuz may

not be safely navigable.

Apr-Jun (1Q) results: Revenue was ¥619.9bn (+2% YoY) and OP was ¥10.1bn. OP

missed consensus of ¥15.6bn.