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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