# Who are Mitsubishi's customers? Who does Mitsubishi earn revenue from?
Canonical: https://valuechain.wiki/mitsubishi · Facet: customers · Updated: 2026-11-05T17:25:25.105+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Mitsubishi discloses no named confirmed revenue counterparties; 3 relationships are tracked as undisclosed/aggregate. Per the valuechain.wiki graph: 3 revenue edges, backed by 7 dated sources, 2 of them primary filings (as of 2026-11-05).

### 글로벌 철강·전력 (구리·제철용 석탄) (high)
- metric: net income 204.5 JPY_bn · FY ended Mar2026
- note: Mineral Resources earns from Australian steelmaking coal and copper (Peru, U.S., Chile), including equity-method dividends such as Antamina. Segment net income ¥204.5B (year ended Mar 2026).
- [confirms] Alpha Economy (KO, news, published 2026-11-06) https://www.alphabiz.co.kr/news/articleView.html?idxno=196354: "The Korean report confirms JPY619.6 billion of April-September net income and strength in copper and steelmaking-coal operations."
- [confirms] Mitsubishi Corporation (EN, filing, published 2026-11-04) https://www.mitsubishicorp.com/jp/en/ir/library/meetings/pdf/261104/20261104e.pdf: "FY2026 H1 Mineral Resources net income was JPY135.8 billion, up JPY89.2 billion, supported by higher copper and Australian steelmaking-coal prices."
- [confirms] Mitsubishi Corporation (EN, filing, published 2026-05-01) https://www.mitsubishicorp.com/jp/en/ir/library/earnings/pdf/202605e.pdf: "Mineral Resources profit for the year attributable to owners of the Parent ¥204,523 million (year ended Mar 2026); copper and Australian steelmaking coal are core."

### 일본·아시아 LNG 수입 고객 (high)
- metric: net income 160.9 JPY_bn · FY ended Mar2026
- note: Environmental Energy earned JPY160.9 billion in FY2025. The LNG Canada Phase 2 FID raises total capacity to 28 mtpa and is expected to add 2.1 mtpa to Mitsubishi Corporation's 15%-share offtake from the early 2030s, taking it to 4.2 mtpa.
- [confirms] Alpha Economy (KO, news, published 2026-11-06) https://www.alphabiz.co.kr/news/articleView.html?idxno=196354: "The Korean report confirms the LNG Canada ramp and expected turn to profit, alongside an upgraded full-year outlook supported by metals and energy."
- [confirms] Mitsubishi Corporation (EN, filing, published 2026-11-04) https://www.mitsubishicorp.com/jp/en/ir/library/meetings/pdf/261104/20261104e.pdf: "FY2026 H1 Energy & Power Solution net income was JPY190.1 billion, helped by higher North American LNG transactions and Asia-Pacific LNG dividends."
- [confirms] Mitsubishi Corporation (EN, ir, published 2026-09-29) https://www.mitsubishicorp.com/jp/en/news/release/2026/20260929001.html: "The Phase 2 FID doubles LNG Canada capacity from 14 to 28 mtpa and is expected to lift Mitsubishi Corporation's 15%-share offtake to 4.2 mtpa from the early 2030s."
- [confirms] Sisa Economy (KO, news, published 2026-09-29) https://www.sateconomy.co.kr/news/view/1065612246386956: "Korea Gas's filing and partner announcements confirm the five participants approved Phase 2 FID, doubling annual capacity from 14 to 28 million tonnes."
- [confirms] Mitsubishi Corporation (EN, filing, published 2026-05-01) https://www.mitsubishicorp.com/jp/en/ir/library/earnings/pdf/202605e.pdf: "Environmental Energy (natural gas) profit for the year attributable to owners of the Parent ¥160,862 million (year ended Mar 2026); building a natural gas value chain in Canada from upstream to LNG production, export and sales."
- [mentions] Analyst consensus (via MarketScreener) (EN, research, published 2026-05-01) https://www.marketscreener.com/quote/stock/MITSUBISHI-CORPORATION-6493521/consensus/: "Analysts: Buy consensus (14, PT ~JPY 5,324); resource profits plus record buyback and Buffett's long-term hold in focus."
- [confirms] Mitsubishi Corporation (EN, news, published 2025-07-01) https://www.mitsubishicorp.com/jp/en/news/release/2025/20250701001.html: "LNG Canada shipped its first cargo on June 30, 2025; 14 mtpa capacity, with Mitsubishi offtaking ~15% (~2.1 mtpa) supplied to Asia, primarily Japan."

### 버크셔 해서웨이 (지분 10.23%) (high)  → /berkshire-hathaway.md
- metric: Market share 10.23%
- note: Berkshire Hathaway's National Indemnity unit raised its Mitsubishi stake from 9.74% (Mar 2025) to 10.23% (Aug 2025), becoming the top shareholder. Buffett's 2024 letter disclosed an agreement to exceed the 9.9% ceiling and hold long term; the long-term policy continues under successor Greg Abel.
- [confirms] Bloomberg (EN, news, published 2025-08-28) https://www.bloomberg.com/news/articles/2025-08-28/mitsubishi-corp-says-berkshire-hathaway-s-stake-rises-to-10-23: "Mitsubishi Corp said Berkshire Hathaway's voting-rights stake rose to 10.23% from 9.74% in March."
- [confirms] Edaily (KO, news, published 2025-08-28) https://marketin.edaily.co.kr/News/ReadE?newsId=04293526642271912: "Berkshire's National Indemnity unit raised its Mitsubishi stake from 9.75% to 10.2%, the largest among the five houses."
- [confirms] CNBC (EN, news, published 2025-03-17) https://www.cnbc.com/2025/03/17/buffett-hikes-stakes-in-five-japanese-trading-houses-to-almost-10percent-each.html: "Berkshire hiked its stakes in the five Japanese trading houses to almost 10% each, with an agreement to exceed the ceiling and hold long term."

### 일본·아시아 식품·소매 고객 (mid)
- metric: net income 174.3 JPY_bn · FY ended Mar2026
- note: Food Industry (salmon farming, overseas food materials) and Smart-Life Creation (Lawson, Philippine digital finance, Singapore healthcare) form the consumer axis. Segment net income ¥83.3B and ¥91.0B (year ended Mar 2026).
- [confirms] Mitsubishi Corporation (EN, filing, published 2026-05-01) https://www.mitsubishicorp.com/jp/en/ir/library/earnings/pdf/202605e.pdf: "Food Industry profit ¥83,257 million and Smart-Life Creation ¥91,007 million (year ended Mar 2026)."

Reverse side: https://valuechain.wiki/mitsubishi/suppliers.md · Ripple: https://valuechain.wiki/mitsubishi/ripple.md

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Full node: https://valuechain.wiki/mitsubishi.md · JSON: https://valuechain.wiki/mitsubishi.json