Mitsubishi release financial results
JAPAN – Mitsubishi Electricannounced today its consolidated and non-consolidated financial results for fiscal 2016 (April 1, 2015- March 31, 2016). Consolidated Financial Results Net sales: 4,394.3 billion yen (2% increase from the previous fiscal year) Operating income: 301.1 billion yen (5% decrease from the previous fiscal year) Income before income taxes: 318.4 billion yen (1% decrease from the previous fiscal year)
Net income attributable to Mitsubishi Electric Corp.: 228.4 billion yen (3% decrease from the previous fiscal year) Non-consolidated Financial Results Net sales: 2,675.7 billion yen (Unchanged from the previous fiscal year) Operating income: 112.0 billion yen (26% decrease from the previous fiscal year) Ordinary profit: 185.7 billion yen (8% increase from the previous fiscal year) Net income: 163.8 billion yen (21% increase from the previous fiscal year)
During the fiscal year ended March 31, 2016, the business environment experienced buoyancy in the U.S. economy, which showed expansion, and a gradual trend of economic recovery continuing in Europe, despite a gradual slowdown continuing in China and other east Asian markets, weakness in personal consumption in Japan and stagnation in certain emerging markets. In addition, the yen weakened against the U.S. dollar compared to the previous year, while becoming stronger in the fourth quarter. Under these circumstances, the Mitsubishi Electric Group has been working even harder than before to promote growth strategies rooted in its advantages, while continuously implementing initiatives to strengthen its competitiveness and business structure.
As a result, Mitsubishi Electric has recorded a consolidated net sales of 4,394.3 billion yen for fiscal 2016, an increase of 2% compared to the previous fiscal year, with increased sales in the Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, and Home Appliances segments. Consolidated operating income decreased by 5% compared to the previous fiscal year to 301.1 billion yen, due to decreased profits in the Energy and Electric Systems, Information and Communication Systems, and Electronic Devices segments.