Mitsubishi Electric Announces Consolidated Financial Results for the First 9 Months and Third Quarter of Fiscal 2015

TOKYO--()--Mitsubishi Electric Corporation (TOKYO: 6503) announced today its financial results for the first 9 months and third quarter ending December 31, 2014, of the current fiscal year ending March 31, 2015 (fiscal 2015).

The full document on Mitsubishi Electric’s financial results can be viewed at the following link: www.MitsubishiElectric.com/news

 

1. Consolidated First 9 Months Results (April 1, 2014 – December 31, 2014)

Net sales:   2,983.2 billion yen   (9% increase from the same period last year)
Operating income: 201.3 billion yen (41% increase from the same period last year)
Income before income taxes: 220.6 billion yen (42% increase from the same period last year)

Net income attributable to

Mitsubishi Electric Corp.:

145.6 billion yen (53% increase from the same period last year)

In the first 9 months of fiscal 2015, the business environment in general experienced an upward trend, with the buoyant U.S. economy having a positive effect despite the economic weakness in Japan, Europe and some emerging markets. In addition, the weakening of the yen advanced towards the end of the third quarter.

Under these circumstances, consolidated net sales for the first 9 months of fiscal 2015 increased by 9% compared to the same period of the previous fiscal year to 2,983.2 billion yen with increased sales in all segments. Consolidated operating income increased by 41% compared to the same period of the previous fiscal year to 201.3 billion yen, due to increased profits in the Industrial Automation Systems, Information and Communication Systems, Electronic Devices and Home Appliances segments.

 

2. Consolidated Third-quarter Results (October 1, 2014 – December 31, 2014)

Net sales:   1,010.4 billion yen   (10% increase from the same period last year)
Operating income: 79.9 billion yen (26% increase from the same period last year)
Income before income taxes: 74.7 billion yen (3% increase from the same period last year)
Net income attributable to

Mitsubishi Electric Corp.:

47.7 billion yen (3% increase from the same period last year)

Consolidated net sales for this quarter increased by 10% compared to the same period of the previous fiscal year to 1,010.4 billion yen due to increased sales in all segments. Consolidated operating income was 79.9 billion yen, increasing by 26% from the same period of the previous fiscal year with increased profits in the Industrial Automation Systems, Information and Communication Systems and Electronic Devices segments.

Forecast for Fiscal 2015 (year ending March 31, 2015)

The consolidated earnings forecast for fiscal 2015, ending March 31, 2015, has been revised from the previous forecast announced on October 30, 2014, with the company’s business performance expected to exceed the previous forecast mainly in the Industrial Automation Systems segment, which experienced buoyant demand in capital expenditures for smartphone and automotive related investments in the factory automation systems business, and also saw expansion in the automotive equipment business due primarily to increased car sales in North America.

 

Consolidated earnings forecast for Fiscal 2015

    Previous forecast

(announced October 30)

  Current forecast
Net sales: 4,220.0 billion yen 4,240.0 billion yen   (5% increase from fiscal 2014)
Operating income: 275.0 billion yen 290.0 billion yen (23% increase from fiscal 2014)
Income before income taxes: 285.0 billion yen 290.0 billion yen (16% increase from fiscal 2014)
Net income attributable to

Mitsubishi Electric Corp.:

  190.0 billion yen   200.0 billion yen   (30% increase from fiscal 2014)
 

Note: The results forecast above is based on assumptions deemed reasonable by the Company at the present time, and actual results may differ significantly from forecasts. Please refer to the cautionary statement in the full document.

About Mitsubishi Electric Corporation

With over 90 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology. The company recorded consolidated group sales of 4,054.3 billion yen (US$ 39.3 billion*) in the fiscal year ended March 31, 2014. For more information visit http://www.MitsubishiElectric.com

*At an exchange rate of 103 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2014

Contacts

Investor Relations Inquiries
Mitsubishi Electric Corporation
Investor Relations Group
Corporate Finance Division
Tel: +81-3-3218-2391
Cad.Irg@rk.MitsubishiElectric.co.jp
Media Inquiries
Mitsubishi Electric Corporation
Yurika Fujimoto, +81-3-3218-3380
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
http://www.MitsubishiElectric.com/news/

Contacts

Investor Relations Inquiries
Mitsubishi Electric Corporation
Investor Relations Group
Corporate Finance Division
Tel: +81-3-3218-2391
Cad.Irg@rk.MitsubishiElectric.co.jp
Media Inquiries
Mitsubishi Electric Corporation
Yurika Fujimoto, +81-3-3218-3380
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
http://www.MitsubishiElectric.com/news/