MITSUBA Corporation
7280・Prime Market・Electric Appliances
Transportation Equipment-related Business
Mitsuba's core segment. Supplies motor products for automobiles and motorcycles globally
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales (External Customers, Full Year) | ¥320,081 million | ¥322,844 million | ↓ |
| Net Sales (Segment Total, Including Intersegment) | ¥320,565 million | ¥323,344 million | ↓ |
| Segment Profit | ¥20,081 million | ¥18,160 million | ↑ |
| Segment Assets | ¥318,256 million | ¥304,769 million | ↑ |
| Depreciation | ¥12,098 million | ¥14,048 million | ↓ |
| Increase in Property, Plant and Equipment and Intangible Assets | ¥11,459 million | ¥8,299 million | ↑ |
| Investment in Equity-method Affiliates | ¥3,817 million | ¥4,031 million | ↓ |
Business Details
The segment's main products are the Wiper System, Starter Motor, Fan Motor, and Power Window Motor, which are supplied to automobile and motorcycle manufacturers in Japan and overseas. It comprises 39 consolidated subsidiaries in Japan and overseas combined. The segment operates globally under a five-region structure covering the Americas, Europe, Asia, China, and Japan, and is the core business accounting for approximately 92% of consolidated net sales. TATSUMI CORPORATION became a wholly owned subsidiary via a share exchange effective April 1, 2025.
Recent Overview
Despite continued weakness in China's four-wheel market, strong two-wheel demand in Asia and South America and cost reductions drove a 10.6% year-on-year increase in segment profit
In FY2026 (ending March 2026), the Transportation Equipment-related Business posted net sales of ¥320,565 million, a slight decrease of 0.9% year on year. By region, China continued to decline significantly to ¥28,162 million (prior year: ¥34,549 million), while the Americas (¥90,413 million), Europe (¥24,563 million), and Asia (¥86,171 million) generally performed steadily. Segment profit improved to ¥20,081 million (prior year: ¥18,160 million), up 10.6% year on year. Impairment losses of ¥5,681 million were recorded as extraordinary losses at two subsidiaries in China.
Key Products
Growth Drivers
- Solid expansion of demand in the Asian and South American two-wheel markets, centered on India (20.96 million units in calendar year, up 7.3% year on year) and Indonesia (6.41 million units in calendar year, up 1.3% year on year)
- Expansion of new motor demand driven by electrification (CASE response), addressed through the evolution and integration of the company's core motor technology and control technology
- Transition to the "resource shift to growth portfolio" phase under the medium-term management plan (FY2023-FY2027)
- Strengthening of the production and development structure through the full consolidation of TATSUMI CORPORATION (share exchange effective April 1, 2025)
- Improvement in segment profit margin through continued promotion of cost-saving measures
Risks
- Continued weakness in four-wheel sales in the China region and fixed asset impairment risk (impairment losses of ¥5,681 million recorded at two Chinese subsidiaries in FY2026)
- Increased costs and supply chain disruption in the North American market due to higher U.S. import tariffs
- Production adjustments by European and Japanese automakers due to renewed semiconductor supply concerns and heightened geopolitical risk
- Downward pressure on sales and profit from sluggish four-wheel sales in Japan and China (Japan: 4.53 million units in FY2025, down 0.9% year on year)
- Cost increase risk from rising raw material and energy prices and foreign exchange fluctuations (yen depreciation and local currency fluctuations)
Last updated: June 24, 2026