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Mitsubishi Electric net sales up 2%

By BFN News | 01:49 PM | Monday 31 October, 2011


Mitsubishi Electric Corporation's first half net sales rose 2% to Yen1,743.5bn. The company said the economy saw an upturn in Japan following a temporary decline caused by the earthquake and tsunami while a trend of gradual recovery was seen outside Japan despite a slowdown in certain developed markets. It said the rise in sales was mainly due to increased revenues in the industrial automation systems and electronic devices segments. Operating income rose by 1% to Yen113.6bn while pre-tax income fell by 7% to Yen105.8bn. Net income fell 2% to Yen69.5bn. Story provided by StockMarketWire.com