Mitsuba beats Q2 forecast, establishes new Indian subsidiary

Mitsuba Corporation announced its consolidated net income attributable to shareholders for the second quarter of the fiscal year ending March 2026 reached JPY 6,520 million, surpassing the previously announced forecast of JPY 4,700 million. This 38.7% increase was primarily attributed to strong sales in the two-wheeler segment in the Americas and positive foreign exchange impacts. Operating profit rose by 24.2% to JPY 9,938 million, and ordinary profit increased by 28.6% to JPY 10,287 million, on net sales of JPY 167,335 million, exceeding the forecast of JPY 160,000 million.

Mitsuba’s board of directors approved the establishment of a new subsidiary in India, Mitsuba India R&D Pvt. Ltd., effective April 2026. This strategic move aims to address local development needs, enhance speed, and improve cost competitiveness in the Indian market. The new subsidiary, 100% owned by Mitsuba and its subsidiaries, will focus on developing and marketing automotive and general-purpose electrical components.

Despite the strong Q2 performance, Mitsuba's full-year consolidated earnings forecast remains unchanged due to uncertainties in the external environment, including ongoing semiconductor shortages.