Mitsui E&S Rolling Medium Term Plan Update

Mitsui E&S released its Rolling Vision 2026 MTP, which includes conservative guidance but a significant increase in capex for marine engines and port cranes. Goldman Sachs maintains a Buy rating with a ¥7,000 price target, highlighting the company's growth potential as it captures market share from Chinese competitors.

Key Takeaways

• 1.Mitsui E&S announced its rolling medium-term plan, 'Mitsui E&S Rolling Vision 2026', targeting revenue of ¥440 bn and operating profit of ¥42 bn by FY3/29.
• 2.The company is expanding capex significantly to strengthen marine engine and port crane production capacities in response to demand in the US and Asia.
• 3.Goldman Sachs maintains a Buy rating, viewing the company's guidance as conservative and seeing a medium-term catalyst in market share gains for port cranes due to the global shift away from China.

Table of Contents

• Price Target Risks and Methodology - Mitsui E&S Co.
• Disclosure Appendix
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures

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