This report does not constitute a rating action. TOKYO (S&P Global Ratings) Nov. 4, 2026--Mitsubishi Corp.'s partial disposal of its stake in LNG Canada will lower the spending burden involved in proposed expansion of the second phase of the project. While the expansion requires significant capital, cash proceeds from the deal will offset the company's funding requirements. We believe the impact of the transaction on Mitsubishi Corp.'s credit quality will be limited. The cash inflow of approximately ¥250 billion is immaterial relative to the company's adjusted equity of ¥1.04 trillion (as of March 31, 2026) and total assets of ¥2.41 trillion, in our view. While excluding risk assets attributable to the investor improves the company's capital adequacy ratio, which is
