Mitsubishi Electric net sales up 9%Staff writer ▼ | July 31, 2014
Mitsubishi Electric Corporation announced its consolidated financial results for the first quarter ending June 30, 2014, of the current fiscal year ending March 31, 2015 (fiscal 2015).
First quarter Net sales 910.6 billion yen
The business environment in the first quarter of the fiscal year 2015 as a whole saw ongoing gradual expansion around the world, owing to economic stability in the U.S., gradual economic recovery in Europe, a slightly mitigated slowdown in China and other factors, while the Japanese economy experienced an upward trend in the commercial sector despite a backlash due to the last-minute surge in demand experienced before the rise in consumption tax.
Under these circumstances, consolidated net sales in the first quarter increased by 9% compared to the same period of the previous fiscal year to 910.6 billion yen, owing to such factors as increased sales in the Energy and Electric Systems, Industrial Automation Systems, Electronic Devices and Home Appliances segments.
Consolidated operating income increased by 73% compared to the same period of the previous fiscal year to 59.3 billion yen, due to higher profits in the Industrial Automation Systems, Electronic Devices and Home Appliances segments. ■