Mitsubishi Electric aims for defense growth, 10% profit margin

Mitsubishi Electric Corporation (TSE:6503) outlined its strategic initiatives for its Defense Systems Business, aiming for substantial growth fueled by increased defense spending and enhanced capabilities. The company projects orders to surge to ¥600 billion by fiscal year 2025, up from ¥140 billion, with a long-term goal of achieving a 10% operating profit margin. This growth will be supported by reinforcing fundamental defense capabilities and improvements in contract systems.