News
Mitsubishi Electric Announces Consolidated Financial Results for the First Quarter of Fiscal Year 2025
TOKYO, July 31, 2024–(BUSINESS THREAD)–Mitsubishi Electric Corporation TOKYO, March 30, 2024 (GLOBE NEWSWIRE) — Tokyo Electronics Co., Ltd. (TOKYO: 6503) today announced its consolidated financial results for the first quarter ended June 30, 2024, of the current fiscal year ending March 31, 2025 (FY2025).
The full document on Mitsubishi Electric’s financial results can be viewed at the following link:
www.MitsubishiElectric.com/news
Consolidated Financial Results
|
Billions of yen |
Q1 AF24 |
Q1 FY2025 |
Year by year |
||
|
Revenue |
1,220.3 |
1,286.4 |
+66.1 |
105% |
|
|
Operating profit |
61.0 |
58.6 |
-2.3 |
96% |
|
|
% |
5.0% |
4.6% |
-0.4 points |
– |
|
|
Profit before income taxes |
76.8 |
76.1 |
-0.7 |
99% |
|
|
Net profit attributable to Shareholders of Mitsubishi Electric Corp. |
57.8 |
49.1 |
-8.6 |
85% |
|
Key points
1. Q1 FY25: Revenue ¥1,286.4 billion (+¥66.1 billion YoY), Operating Profit ¥58.6 billion (-¥2.3 billion YoY)
– Revenue reached a new record due mainly to the increase in the infrastructure segment and the impact of the weaker yen.
– Operating profit remained at the same level YoY due to the impact of volume reduction in the factory automation systems business and the impact of increased material costs and other acquisitions.
2. FY25 Forecast: Revenue of ¥5,390.0 billion (+¥90.0 billion compared to previous forecast), Operating profit of ¥400.0 billion (unchanged from previous announcement)
– Revenue forecast revised upwards, partly due to a reconsideration of exchange rates, while incorporating the impact of the delayed recovery of the factory automation systems market.
– We will continually implement initiatives to achieve profit targets, including improvements in product pricing to reflect the impact of increased procurement costs.
|
Observation: |
The above forecasted results are based on assumptions considered reasonable by Mitsubishi Electric at the time, and actual results may differ significantly from those forecasted. Please see the cautionary statement in the full document. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240730648143/en/
Contacts
Investor Relations Inquiries
Corporate IR&SR Division
Mitsubishi Electric Corporation
Cad.Irg@rk.MitsubishiElectric.co.jp
Media inquiries
Madoka Iwanaga
Public Relations Division
Mitsubishi Electric Corporation
Phone: +81-3-3218-2332
prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/