Mitsubishi Heavy Industries (7011.T) Stock Today, November 27, 2025: Price Action, Clean Hydrogen Push and What It Means for Investors

Mitsubishi Heavy Industries, Ltd. (MHI, TSE:7011) slipped modestly in today’s session, even as the company sharpened its public narrative around one of its biggest long‑term opportunities: clean hydrogen.

On Thursday, November 27, 2025, Mitsubishi Heavy Industries’ share price on the Tokyo Stock Exchange closed at ¥3,897, down around 0.9% on the day, after trading between roughly ¥3,879 and ¥3,953 on volume of about 8.3 million shares. ^[1]

That pullback comes after a powerful year‑to‑date rally: data from MarketScreener show MHI shares up roughly 75% since the start of 2025, with the stock still trading well below its recent 52‑week high of ¥4,699 and far above its 52‑week low of ¥1,977.5. ^[2]

At the same time, the company’s in‑house media platform, MHI Spectra, published a new feature today on clean hydrogen policy and investment momentum — an area directly linked to MHI’s gas turbines, CO₂ capture technologies and broader energy‑transition portfolio. ^[3]

Below is a detailed breakdown of today’s stock performance, all currently available Mitsubishi Heavy–related news dated November 27, 2025, and the key drivers and risks investors are watching.

Mitsubishi Heavy Industries stock price today: November 27, 2025

Trading snapshot (Tokyo, 7011.T) ^[4]

Last close (Nov 27, 2025): ¥3,897
Day’s change: approximately –0.86%
Intraday range: about ¥3,879 – ¥3,953
Opening price: around ¥3,947
Trading volume: ~8.34 million shares
Market capitalization (as of yesterday’s close): about ¥13.2 trillion ^[5]
52‑week range: ¥1,977.5 – ¥4,699 ^[6]

In other words, after rallying hard through much of 2025, MHI shares are currently:

Roughly 17% below their 52‑week high
Almost double their 52‑week low

Technical analysts at StockInvest.us note that the stock sits in the lower part of a “very wide and strong rising trend”, but has recently triggered several short‑ and long‑term sell signals, with a net near‑term “negative evaluation” despite a positive longer‑term trend. ^[7]

They also highlight:

A two‑week loss of about 9% up to November 26
Average daily volatility of roughly 3–4%
Key short‑term support near ¥3,855 and resistance around ¥4,082 ^[8]

Today’s close at ¥3,897 leaves the stock just above that cited support zone, consistent with a consolidation phase after a very strong year.

What moved Mitsubishi Heavy stock today?

There were no new, price‑sensitive earnings releases or major contract announcements from MHI on November 27, 2025, according to the company’s official news page, where the most recent press releases are dated November 25 and earlier. ^[9]

That suggests today’s modest pullback was driven primarily by:

Technical factors and profit‑taking after a steep year‑to‑date run
Ongoing digestion of November’s earlier positive news (strong first‑half earnings, contract wins and analyst upgrades)
Broader moves in the Japanese equity market and global macro headlines, rather than any fresh, company‑specific shock

However, one new piece of corporate content did hit today: a long‑form Spectra article on clean hydrogen that reinforces the strategic logic behind MHI’s energy transition bets — a theme many investors explicitly tie to the group’s valuation.

All current Mitsubishi Heavy–related news dated November 27, 2025

Based on currently accessible sources, the main Mitsubishi Heavy–linked publication dated November 27, 2025 is:

1. MHI Spectra: “Clean hydrogen: how close are we to delivering?” (2025‑11‑27)

On its Spectra insights platform, MHI released an article titled “Clean hydrogen: how close are we to delivering?”, dated 2025‑11‑27. ^[10]

Key points from the piece:

The article argues that while some commentators see hydrogen in a “trough of disillusionment”, the industry is actually moving onto a “slope of enlightenment”, adapting to new economic and political realities. ^[11]
It cites International Energy Agency (IEA) data indicating that:
- Low‑emission hydrogen output from projects that are operating or have reached final investment decision (FID) is expected to hit about 4.2 million tonnes per year by 2030, roughly five times 2024 levels.
- The pipeline of FID‑backed projects has reached around $8 billion in 2025, about 70% higher than earlier investment levels. ^[12]
The article highlights regulatory headwinds, especially in Europe:
- The EU’s delegated acts on renewable fuels and low‑carbon hydrogen helped clarify rules, but also restricted access to low‑cost renewable power for some projects, pushing up operating costs and making some schemes unviable. ^[13]
It stresses the role of policy tweaks:
- Targeted adjustments to reduce regulatory burden and protect “first movers” could speed deployment without sacrificing credibility. ^[14]
On the demand side, the piece notes that:
- Demand for hydrogen still comes mainly from traditional industrial uses, with hard‑to‑abate sectors such as heavy industry and transport accounting for less than 0.1% of demand, far below IEA’s rough target of around 40% by 2030 to stay on track for net zero. ^[15]
- Creating lead markets — via carbon pricing, product labels like “low‑carbon” or “carbon‑neutral”, and strict performance standards — will be essential to justify the higher cost of clean hydrogen. ^[16]

Why this matters for the stock

Although this Spectra article is not a formal press release, it is important for investors because it:

Reinforces MHI’s positioning as a hydrogen and decarbonization solutions provider, not just a traditional heavy engineering firm.
Aligns with the group’s Medium-Term Business Plan, which leans heavily on CCUS, hydrogen and gas turbines as growth drivers. ^[17]
Helps contextualize MHI’s concrete projects — for example:
- Hydrogen‑ready gas turbines and CO₂ capture systems such as the “Advanced KM CDR Process™” deployed in its newly awarded fertilizer plant project in Turkmenistan. ^[18]

For long‑term investors, this kind of thematic communication supports the narrative behind the stock’s re‑rating: that MHI is a key industrial lever for the global energy transition, not simply a cyclical machinery maker.

Bottom line for today:
No new material earnings or contract news has surfaced for MHI on November 27, but the company did publish a new, hydrogen‑focused thought‑leadership piece that underlines the strategic context for its energy-transition businesses.

Recent catalysts still driving Mitsubishi Heavy’s valuation

Even without fresh hard news today, the share price is still digesting a series of significant November announcements and analyst moves.

Strong 1H FY2025 earnings and upgraded guidance (Nov 7, 2025)

On November 7, 2025, MHI reported first‑half FY2025 results and raised its full‑year order and revenue guidance. ^[19]

Highlights:

Order intake: up 8.5% year‑on‑year to ¥3,314.7 billion
Revenue: up 7.3% YoY to ¥2,113.7 billion
Business profit: up 2.1% YoY to ¥171.5 billion, an 8.1% margin
Net income (profit attributable to owners): up 7.3% YoY to ¥114.9 billion (5.4% margin) ^[20]
EBITDA: ¥229.6 billion, up 2.5% vs the prior year ^[21]
Management cited:
- Strong demand in Gas Turbine Combined Cycle (GTCC), with contracts for 23 large‑frame gas turbines in the half, mainly from North America and Asia. ^[22]
- Record‑high total order backlog. ^[23]

Crucially, MHI:

Raised its full‑year order intake and revenue guidance to reflect strong first‑half momentum
Reiterated its full‑year dividend forecast of ¥24 per share ^[24]

This combination of backlog growth, modest profit improvement and a firm dividend stance has been a major support under the share price.

Portfolio reshaping: onshore wind business transfer to J‑POWER

Also on November 7, MHI announced a basic agreement with Electric Power Development Co., Ltd. (J‑POWER) to transfer its domestic onshore wind power business to J‑POWER, aiming to complete the transaction by April 1, 2026, subject to definitive agreements. ^[25]

Key elements: ^[26]

MHI has over 40 years of wind turbine experience and has delivered more than 4,200 turbines to 11 countries, primarily in Japan and North America.
J‑POWER is one of Japan’s leading wind developers and is positioning wind as a core pillar in its “BLUE MISSION 2050” decarbonization strategy.
The transfer is framed as part of MHI’s portfolio optimization under its 2024 Medium-Term Business Plan: reallocating capital and engineering talent toward higher‑growth, higher‑return areas.

For investors, this underscores a disciplined capital allocation story: MHI is willing to exit or restructure segments where others can extract more value, while doubling down on areas like gas turbines, hydrogen, defense and industrial systems.

New EPC contracts in chemicals and fertilizers (Nov 10 and Nov 25)

Two significant engineering, procurement and construction (EPC) contract wins in November further strengthened MHI’s backlog:

Cyclo Olefin Polymer (COP) plant for Zeon (Nov 25, 2025)
- MHI was awarded the EPC contract for a COP production plant in Shunan City, Yamaguchi Prefecture, for Zeon Corporation. ^[27]
- The plant, scheduled for completion in the first half of FY2028, focuses on high‑performance COP used in optical, medical and semiconductor applications, where demand is expected to grow. ^[28]
- MHI will handle process design, major equipment procurement and installation, leveraging its experience in high‑performance chemical plants. ^[29]
Large‑scale ammonia and urea fertilizer complex for Turkmenhimiya (Nov 10, 2025)
- MHI signed an EPC contract with Turkmenistan’s state chemical firm SC Turkmenhimiya for one of the country’s largest ammonia and urea plants, in partnership with Turkish contractor GAP and Mitsubishi Corporation. ^[30]
- Planned capacity: 2,000 tonnes/day of ammonia and 3,500 tonnes/day of urea. ^[31]
- The facility will include an MHI CO₂ capture plant using the Advanced KM CDR Process™, reducing environmental impact and boosting efficiency. ^[32]

These contracts:

Reinforce MHI’s global leadership in chemical and fertilizer plants
Expand its long‑cycle project backlog, supporting multi‑year revenue visibility
Directly tie into the decarbonization narrative via CO₂ capture and cleaner industrial processes

Government‑backed US investment pipeline (Reuters, Oct 28, 2025)

A late‑October Reuters exclusive reported that Japan and the US are preparing a detailed fact sheet on potential U.S. investment projects under an 83‑trillion‑yen ($550 billion) package, explicitly mentioning Mitsubishi Heavy Industries as one of the Japanese companies involved. ^[33]

According to the report: ^[34]

The fact sheet will include power generation and auto‑related projects as potential investments.
The U.S. is particularly interested in a power generation project involving MHI, with the first such project possibly selected as early as this year.
The document is to be finalized by Japanese Prime Minister Sanae Takaichi and U.S. President Donald Trump, alongside working‑level officials.

Although still pre‑FID and non‑binding, this signals that MHI is firmly on the radar for large US‑Japan strategic energy investments, which could add further upside optionality to the story.

Shipping & maritime cooperation (Nikkei/MarketScreener, Nov 26, 2025)

MarketScreener’s Mitsubishi Heavy news feed cites a Nikkei report that Japan’s top shipping lines — Nippon Yusen, Mitsui O.S.K. Lines and Kawasaki Kisen — plan to invest in a ship design company jointly owned by Imabari Shipbuilding and Mitsubishi Heavy Industries. ^[35]

While detailed terms were not fully visible, the move appears aimed at:

Developing next‑generation vessels
Strengthening Japanese shipbuilders’ ability to compete with Chinese rivals
Leveraging MHI’s marine engineering expertise as global shipping faces decarbonization and efficiency mandates

For MHI, this underscores strategic relevance in advanced ship design and maritime technology, not just traditional shipbuilding.

Analyst and investor views: Jefferies, Simply Wall St, StockInvest

Jefferies price target upgrade (Nov 10, 2025)
MarketScreener notes that Jefferies raised its price target for MHI from ¥4,200 to ¥5,200 and maintained a Buy rating on November 10. ^[36]

That target sits materially above today’s ¥3,897 share price, implying substantial potential upside if their thesis plays out, although it is based on assumptions that may or may not materialize.

Dividend and guidance narrative (Simply Wall St via Webull, Nov 13, 2025)

A Simply Wall St article syndicated on Webull earlier in November highlighted that MHI: ^[37]

Increased its second‑quarter dividend to ¥12 per share for the year ending March 2026
Raised consolidated earnings guidance, reflecting stronger‑than‑expected performance in the first half
Entered a new alliance with ICM, Inc. to advance ethanol dehydration technology, reinforcing its low‑carbon solutions portfolio

The same piece notes that MHI’s longer‑term outlook aims for roughly ¥6.46 trillion in revenue and ¥438.4 billion in earnings by 2028, implying mid‑single‑digit to high‑single‑digit annual growth from current levels. It also cites an estimated “fair value” near ¥4,001 per share, suggesting modest downside from then‑current prices, emphasizing FX and margin risks as key watch‑outs. ^[38]

Technical view (StockInvest.us, Nov 26, 2025)

As mentioned earlier, StockInvest.us currently classifies 7011.T as a “sell candidate” on a short‑term technical basis despite a strong upward trend, pointing to: ^[39]

Recent sell signals from moving averages and MACD
A pivot‑bottom‑generated buy signal on November 21 that has only modestly improved the price
A forecast that, based purely on trend, the stock could rise about 18% over the next three months, with a 90% probability range between approximately ¥4,581 and ¥5,727 — but with caution flagged for near‑term weakness

These contrasting views highlight that fundamental and technical lenses don’t fully align: fundamentals and sell‑side analysts are generally constructive, while some technical models flag short‑term risk after a long rally.

Valuation and positioning snapshot

Pulling the pieces together:

Price level: ¥3,897 as of November 27, 2025 ^[40]
52‑week high/low: ¥4,699 / ¥1,977.5 ^[41]
Implied upside vs Jefferies target (¥5,200): roughly one‑third above today’s price (if that target is maintained). ^[42]
Market cap: ~¥13.2 trillion (Nov 26) ^[43]
Year‑to‑date performance: around +75% as of November 26 ^[44]

From an investor‑narrative standpoint, MHI today looks like:

A global industrial platform tied tightly to:
- Energy transition (hydrogen, gas turbines, CCUS, nuclear, batteries) ^[45]
- Defense and aerospace, given global security tensions ^[46]
- Industrial automation and logistics (even as it restructures holdings like Mitsubishi Logisnext) ^[47]
A company reconfiguring its portfolio:
- Exiting or transferring businesses like domestic onshore wind where others can scale faster ^[48]
- Leaning into chemical, fertilizer, and maritime projects with strong CO₂ and efficiency angles ^[49]

With the share price already up significantly this year, the current debate is less about whether MHI is “cheap” in absolute terms and more about:

How much of its energy‑transition and defense growth story is already priced in
Whether execution, FX, and margin management can sustain earnings growth in line with management and analyst expectations ^[50]

Key themes to watch after today

Even though November 27 itself brought no fresh hard numbers, investors tracking Mitsubishi Heavy Industries after today’s session are likely focused on a few big themes:

Hydrogen and CCUS commercialization
- Today’s Spectra article reinforces MHI’s view that policy fine‑tuning — especially in Europe — will be crucial to moving hydrogen from early hype to broad deployment. ^[51]
- For shareholders, the key question is how much revenue and profit MHI can eventually capture from:
  - Hydrogen‑ready gas turbines
  - Electrolyzer, storage and transport technologies through partnerships
  - CO₂ capture systems such as Advanced KM CDR Process™ in industrial projects ^[52]
Execution on large EPC backlog
- The Zeon COP plant and Turkmenhimiya fertilizer complex underline MHI’s ability to win complex, high‑value EPC contracts. ^[53]
- Investors will watch for:
  - On‑time, on‑budget delivery
  - Margin realization vs. initial expectations
  - Follow‑on orders in chemicals, agriculture and energy‑intensive industries
Defense, aerospace and maritime growth
- The 1H results show strong momentum in Defense & Space, while news of major Japanese shipping lines investing in a ship design company tied to MHI points to continued relevance in maritime innovation. ^[54]
- Geopolitical tension and fleet modernization may continue to support these segments, but they also expose MHI to policy and export‑control risk.
US‑Japan strategic investments
- If projects highlighted in the Japan‑US investment fact sheet move forward, MHI could secure high‑profile U.S. power generation or infrastructure deals, reinforcing its global footprint and justifying premium valuations. ^[55]
Capital allocation and shareholder returns
- The reiterated ¥24 per‑share dividend and prior increases (interim dividend now ¥12) point to a gradual, but consistent, shareholder‑return story. ^[56]
- Any updates on:
  - Share buybacks
  - Further portfolio pruning (beyond onshore wind and Logisnext)
  - Larger M&A in energy or defense
    will be closely scrutinized.

What today’s move could mean for investors

With no new price‑sensitive announcements on November 27, Mitsubishi Heavy’s –0.9% move today looks like part of a normal consolidation after a big year, rather than a verdict on new information. ^[57]

At the same time:

The hydrogen‑focused Spectra article adds another brushstroke to the picture of MHI as a long‑term energy‑transition enabler, grounded in realistic assessments of policy and market constraints. ^[58]
Recent earnings strength, order-book growth, EPC wins and analyst upgrades continue to underpin the fundamental story, even as technical indicators flash caution about near‑term volatility. ^[59]

For readers following Mitsubishi Heavy Industries stock today, the practical takeaway is:

The November 27 session didn’t bring fresh hard catalysts, but it did extend a pattern: strong fundamentals and a deepening decarbonization narrative on one side, versus a stretched, volatile share price on the other.

Whether that combination represents a buyable pause, a healthy consolidation, or the start of a more meaningful correction depends on your time horizon, risk tolerance and view of MHI’s ability to execute on its energy‑transition and defense backlog.

Ryo Kogure I Mitsubishi Nederland B.V I 5th Edition Hydrogen Finance & Investment Summit