Mitsubishi Electric Announces Consolidated Financial Results for Fiscal 2024
2024年4月26日 - 3:10PM
ビジネスワイヤ(英語)
Mitsubishi Electric Corporation (TOKYO: 6503) announced today
its consolidated financial results for fiscal 2024 (April 1, 2023 -
March 31, 2024).
The full document on Mitsubishi Electric’s financial results can
be viewed at the following link:
www.MitsubishiElectric.com/news
Consolidated Financial
Results
Revenue:
5,257.9
billion yen
(5% increase year-on-year)
Operating profit:
328.5
billion yen
(25% increase year-on-year)
Profit before income taxes:
365.8
billion yen
(25% increase year-on-year)
Net profit attributable to
Mitsubishi Electric Corp.
stockholders:
284.9
billion yen
(33% increase year-on-year)
The economy in fiscal 2024 continued to see moderate recovery in
Japan, however, recovery in consumer spending came to a standstill
recently. In the U.S., the economy continued to see recovery
primarily in consumer spending despite monetary tightening and
other factors. In China, the economy showed weakness in recovery
due to sluggish export as well as slower domestic demand resulting
from the real estate recession and other factors. In Europe, both
the corporate and household sectors were stagnant due primarily to
monetary tightening.
In this environment, the Mitsubishi Electric Group has been
working harder than ever to maximize profitability by accelerating
business transformation and its business portfolio strategy under
its business area management structure, while continuously
implementing initiatives to bolster its competitiveness and
business structure.
Forecast for Fiscal 2025
The global economy in fiscal 2025 is expected to see a continued
spending increase, but growth is anticipated to remain moderate due
primarily to continued monetary tightening in various countries and
regions, mainly in Europe and the U.S., and the real estate
recession in China. There is also an increase in geopolitical
risks, including the prolonged conflict in Ukraine and the tensions
between the U.S. and China, which raises a concern about changes in
business environment beyond expectations.
Under these circumstances, the Mitsubishi Electric Group will
focus its management on asset efficiency and cash-generating
capabilities by utilizing ROIC in its business operations. This
will enable the Group to carry out active investments speedily in
its Key Growth Businesses such as enhancing its production system
and M&A, while strongly promoting a resource shift approach
based on its business portfolio strategy, including by considering
potential withdrawals from and sale of businesses with issues that
are not expected to improve their profitability or asset
efficiency. Furthermore, the Group will promote efforts to optimize
its global engineering and supply chains as well as to improve
group management efficiency. In addition, it will ensure that its
operations flexibly cope with the changing business environment in
light of recent economic trends.
The current financial performance forecast for fiscal 2025
follows below.
Current consolidated forecast for fiscal 2025
Revenue:
5,300.0
billion yen
(1% increase year-on-year)
Operating profit:
400.0
billion yen
(22% increase year-on-year)
Profit before income taxes:
430.0
billion yen
(18% increase year-on-year)
Net profit attributable to
Mitsubishi Electric Corp. stockholders:
315.0
billion yen
(11% increase year-on-year)
Exchange rates for this forecast are 140 yen to the U.S. dollar,
150 yen to the euro and 19.5 yen to the Chinese yuan.
Note:
The results forecast above is based on
assumptions deemed reasonable by Mitsubishi Electric at the present
time, and actual results may differ significantly from forecasts.
Please refer to the cautionary statement in the full document.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240425438263/en/
Investor Relations Inquiries Corporate IR&SR Division
Mitsubishi Electric Corporation
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Mitsubishi Electric Corporation Tel: +81-3-3218-2332
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www.MitsubishiElectric.com/news/