Outlooks On Mitsubishi Corp. And Subsidiaries Revised Upward To Stable; Ratings Affirmed

Mitsubishi Corp. materially improved its performance in fiscal 2016, earning a net profit of ¥440.3 billion versus the previous fiscal year's net loss, thanks to stronger resource prices and stable profits from its nonresource segment. A significant profit decline in fiscal 2017 is unlikely, in our view. Improvements in its earnings capacity and capital adequacy are highly likely to exceed our previous assumptions. This is because its resource-focused investment businesses are now less likely to worsen and the company maintains a conservative investment policy aimed at curbing fresh investments and restoring fiscal soundness. We are revising to stable from negative our rating outlooks on Mitsubishi and its three core subsidiaries. We are affirming our ratings on the companies. TOKYO (S&P

...+ Mitsubishi Corp. materially improved its performance in fiscal 2016, earning a net profit of Ñ440.3 billion versus the previous fiscal year's net loss, thanks to stronger resource prices and stable profits from its nonresource segment. A significant profit decline in fiscal 2017 is unlikely, in our view. + Improvements in its earnings capacity and capital adequacy are highly likely to exceed our previous assumptions. This is because its resource-focused investment businesses are now less likely to worsen and the company maintains a conservative investment policy aimed at curbing fresh investments and restoring fiscal soundness. + We are revising to stable from negative our rating outlooks on Mitsubishi and its three core subsidiaries. We are affirming our ratings on the companies. TOKYO (S&P Global Ratings) May 17, 2017--S&P Global Ratings today said it has revised to stable from negative the outlooks on its long-term corporate credit ratings on Japan-based general trading and investment...

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