Mitsubishi Electric Corp 6503 today announced its consolidated financial results for the first half and second quarter ended September 30, 2022 for the current fiscal year ended March 31, 2023 (fiscal year 2023).
The full Mitsubishi Electric financial results document can be viewed at the following link:
www.MitsubishiElectric.com/news
1. Consolidated Half Year Results (April 1, 2022 – September 30, 2022)
|
Revenue: |
2,339.5 |
billion yen |
(up 9% YoY) |
|||
|
Operating result: |
80.5 |
billion yen |
(42% decrease YoY) |
|||
|
Profit before income taxes: |
103.1 |
billion yen |
(31% decrease YoY) |
|||
|
Net profit attributable |
74.8 |
billion yen |
(29% YoY decrease) |
The economy in the first half of fiscal 2023, from April to September 2022, generally continued to see a recovery in the US corporate and household sectors. In China, there has been downward pressure from the impact of the lockdown brought on by the spread of COVID-19, and the pace of the subsequent recovery has remained slow. In Japan, the gradual recovery continued, particularly in the household sector. In Europe, the recovery in the corporate and household sectors was even slower. Added to this were the rise in some material prices and high logistics costs, as well as the continuing shortage of electronic components.
revenue
Revenue rose 201.1 billion yen year-on-year to 2,339.5 billion yen, mainly due to the weaker yen, despite a decline in infrastructure segment revenue. The life segment saw an increase in the building systems business in Asia and Japan, and the air conditioning and household products business also grew, mainly due to a recovery in air conditioning demand in Asia (excluding China), Europe and Japan. The Industry and Mobility segment saw an increase in factory automation systems business, mainly due to a…
