trending Market Intelligence /marketintelligence/en/news-insights/trending/FQOeFRg6LuByKADCfjjTvg2 content esgSubNav
In This List

Mitsubishi Heavy swings to loss in fiscal Q1

Blog

Europe: 5 key OTT trends to watch in 2022

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud


Mitsubishi Heavy swings to loss in fiscal Q1

Mitsubishi Heavy Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥29.25 per share, compared with ¥109.55 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥9.82 billion, compared with income of ¥36.86 billion in the year-earlier period.

The normalized profit margin dropped to negative 1.2% from 4.0% in the year-earlier period.

Total revenue decreased 9.0% on an annual basis to ¥847.28 billion from ¥931.47 billion, and total operating expenses declined 5.8% from the prior-year period to ¥822.38 billion from ¥872.61 billion.

Reported net income came to a loss of ¥12.11 billion, or a loss of ¥36.08 per share, compared with income of ¥35.53 billion, or ¥105.60 per share, in the year-earlier period.

As of Aug. 5, US$1 was equivalent to ¥101.87.