At the end of the 1st half of 2016 fiscal year (ending March 31, 2016), the net profit of Mitsubishi Electric Corporation was 92.9 billion yen, which is a decrease by 5% compared to the same period of the previous financial year.
According to the corporation, in the 1st half-year (from April 1, 2015 to September 30, 2015), the most significant impact on the business environment was produced by enhanced economic downturn in China and other East Asian markets, a low level of consumption in Japan, and the stagnation in some developing markets. At the same time, there continued the economic growth in the United States, and in European market you could note a gradual recovery. In currency markets, the yen fell against the US dollar compared with the previous year.
In these circumstances of consolidation, net semiannual revenue of Mitsubishi Electric has increased by 5% to 2.0632 trillion yen. Such dynamics was due to growth in sales by the divisions of Electric Power equipment, industrial automation, electronics and household goods.
The consolidated operating profit went also up by 5% compared to the same period of 2015 fiscal year, reaching 127.0 billion yen.
The pre-tax profit decreased by 9% and amounted 133 billion yen.
In the 2nd financial quarter (1 July 2015 - 30 September 2015), the net profit fell 15% compared to the same period of the previous year and amounted 46.6 billion yen.
Consolidated net revenues increased by 1%, to 1.0748 trillion yen, due to the increase in sales by Electric Power equipment, industrial automation systems, electronic equipment and household appliances divisions.
Consolidated operating profit totaled 72.3 billion yen, an increase of 17% compared to the same period of the previous financial year.
Quarterly pretax profit fell 16% and amounted to 65.8 billion yen.