Ship equipment maker Mitsui E&S expects its profit momentum to surpass its full-year guidance, fueled by robust demand for engines and a successful pivot of its crane business toward the U.S. Shares surged to its highest close since 2007 on Friday.
Second-quarter profit growth in its engine and crane businesses has been much stronger than anticipated, Chief Financial Officer Taketsune Matsumura said in an interview last Friday.
"I’m increasingly optimistic about the outlook,” Matsumura said. The company now expects return on invested capital (ROIC) to reach as much as 10% by fiscal 2027, above its May forecast for the metric to remain at 9% annually.
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