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Mitsubishi Electric fiscal Q4 profit climbs YOY

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Mitsubishi Electric fiscal Q4 profit climbs YOY

Mitsubishi Electric Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥27.64 per share, an increase from ¥26.57 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥59.34 billion, a gain from ¥57.04 billion in the prior-year period.

The normalized profit margin was 4.4%.

Total revenue totaled ¥1.340 trillion, compared with ¥1.342 trillion in the year-earlier period, and total operating expenses fell from the prior-year period to ¥1.224 trillion from ¥1.268 trillion.

Reported net income increased 52.1% year over year to ¥89.09 billion, or ¥41.50 per share, from ¥58.58 billion, or ¥27.29 per share.

For the year, the company's normalized net income totaled ¥87.80 per share, compared to EPS rose from ¥69.25 in the prior year.

Normalized net income was ¥188.49 billion, a gain from ¥148.67 billion in the prior year.

Full-year total revenue increased on an annual basis to ¥4.323 trillion from ¥4.069 trillion, and total operating expenses increased year over year to ¥4.005 trillion from ¥3.853 trillion.

The company said reported net income rose year over year to ¥234.69 billion, or ¥109.32 per share, in the full year, from ¥153.47 billion, or ¥71.49 per share.

As of June 26, US$1 was equivalent to ¥123.96.