Mitsui E&S reported higher orders, sales and earnings for the first quarter of its fiscal year ending 31 March 2027, supported by progress across its project backlog. New orders reached ¥105 billion, compared with ¥88.8 billion during the same quarter last year. Net sales increased to ¥91.7 billion from ¥81.2 billion. Operating income rose to ¥10.2 billion from ¥8.9 billion. The operating margin edged up to 11.1% from 11%. Ordinary income reached ¥11.7 billion, compared with ¥10.1 billion a year earlier. Its corresponding margin improved to 12.7% from 12.5%. Profit attributable to owners of the parent increased to ¥8.2 billion from ¥7.2 billion. Financial indicator First quarter FY2025 First quarter FY2026 New orders ¥88.8 billion ¥105 billion Net sales ¥81.2 billion ¥91.7 billion Operating income ¥8.9 billion ¥10.2 billion Operating margin 11% 11.1% Ordinary income ¥10.1 billion ¥11.7 billion Ordinary income margin 12.5% 12.7% Profit attributable to owners of parent ¥7.2 billion ¥8.2 billion   The average sales exchange rate stood at ¥155.63 per US dollar, compared with ¥146.21 during the corresponding quarter last year. Marine propulsion orders drive growth The Marine Propulsion Systems segment recorded ¥67.1 billion in new orders, up from ¥41.3 billion a year earlier. Segment sales increased to ¥40.6 billion from ¥38 billion. However, operating income declined to ¥3.8 billion from ¥4.1 billion. Marine engine orders reached 69 units with a combined output of 1.31 million horsepower. This compared with 37 units and 730,000 horsepower during the corresponding period last year. The company delivered 37 engines with a combined output of 760,000 horsepower. A year earlier, deliveries totalled 36 engines and 800,000 horsepower. The order backlog stood at 160 engines and 3.98 million horsepower at the end of the quarter. Mitsui E&S expects to produce 138 engines with a combined output of 2.92 million horsepower during the full year. Logistics Systems sales a