|By Business Wire||
|April 28, 2014 12:24 AM EDT||
Mitsubishi Electric Corporation (TOKYO:6503) announced today its consolidated and non-consolidated financial results for fiscal 2014 (April 1, 2013- March 31, 2014).
The full document on Mitsubishi Electric’s financial results can be accessed at the following link: www.MitsubishiElectric.com/news
Consolidated Financial Results
|Net sales:||4,054.3||billion yen||(14% increase from the previous fiscal year)|
|Operating income:||235.1||billion yen||(55% increase from the previous fiscal year)|
|Income before income taxes:||248.9||billion yen||(3.82 times increase from the previous fiscal year)|
Net income attributable to
|153.4||billion yen||(2.21 times increase from the previous fiscal year)|
Non-consolidated Financial Results
|Net sales:||2,480.5||billion yen||(11% increase from the previous fiscal year)|
|Operating income:||99.0||billion yen||(4.28 times increase from the previous fiscal year)|
|Ordinary profit:||127.4||billion yen||(2.11 times increase from the previous fiscal year)|
|Net income:||100.3||billion yen||(5.40 times increase from the previous fiscal year)|
The fiscal year ended March 31, 2014 the business environment generally showed gradual expansion in economies outside Japan, in addition to recovery in Japan where corporate sentiments improved owing to weaker yen and other factors.
Under these circumstances, the Mitsubishi Electric Group has been working even harder than before to promote growth strategies that take root in its advantages, in addition to continuously implementing the initiatives to strengthen its competitiveness and business structure.
As a result, Mitsubishi Electric has recorded consolidated net sales of 4,054.3 billion yen for fiscal year 2014, increased by 14% compared to the previous fiscal year with increased revenues in all business segments. Consolidated operating income for fiscal year 2014 increased by 55% compared to the previous fiscal year to 235.1 billion yen, mainly due to increased profits in the Industrial Automation Systems, Information and Communication Systems, Electronic Devices and Home Appliances segments.
CURRENT FORECAST FOR FISCAL 2015
Despite concerns on a consumption downturn in Japanese market due to the consumption tax raise and on uncertainty in emerging markets, Mitsubishi Electric expects the trend of gradual economic recovery to continue both inside and outside Japan.
Under these circumstances, the Mitsubishi Electric Group aims to uplift the business performance and financial standing to achieve its management targets by promoting more strongly its global operations in its environment and energy related business and its social infrastructure systems business, by continuously increasing and strengthening profitability in each business and by continuously implementing various Group-wide measures.
Current forecast for fiscal 2015: consolidated
|Net sales||4,180.0||billion yen||(3% increase from fiscal 2014)|
|Operating income||250.0||billion yen||(6% increase from fiscal 2014)|
|Income before income taxes||260.0||billion yen||(4% increase from fiscal 2014)|
Net income attributable to
|175.0||billion yen||(14% increase from fiscal 2014)|
|Note: The 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