Mitsubishi Steel Mfg.Co.,Ltd. [5632.T]
TOKYO, Mar 31 (Pulse News Wire) – Mitsubishi Steel Mfg.co.,ltd. (5632.T) completed the sale of land located at 150 Steeles Avenue East, Milton, Ontario, Canada, on March 30, 2026.
The transaction, which was initially disclosed on February 4, 2021, involves a property area of 203,571 square meters sold for CAD$15.0 million (approximately ¥1.700 billion). The sale resulted in a gain of CAD$5.9 million (about ¥800 million), calculated based on the latest exchange rate of ¥115. This amount will be recognized as special income in the fourth quarter of the fiscal year ending March 2026.
Notably, the company's previous forecast for the full-year performance remains unchanged due to the inclusion of this gain in earlier estimates. Looking ahead, Mitsubishi Steel Mfg. plans to continue optimizing its asset portfolio to enhance capital efficiency.
The proceeds from this sale, along with other generated cash flows, will be strategically allocated towards investments in growth initiatives, financial restructuring, and shareholder returns to boost overall enterprise value.
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