Mitsubishi Electric Corporation announced its consolidated financial results for the first half and second quarter, ended September 30, 2023, of the current fiscal year ending March 31, 2024 (fiscal 2024).

Consolidated Half-year Results (April 1, 2023 – September 30, 2023)

  • Revenue: 2,538.4 billion yen (9% increase year-on-year)
  • Operating profit: 135.8 billion yen (69% increase year-on-year)
  • Profit before income taxes: 159.7 billion yen (55% increase year-on-year)
  • Net profit attributable to Mitsubishi Electric Corp. stockholders: 120.2 billion yen (61% increase year-on-year)

The economy in the first half, from April through September 2023, of fiscal 2024 continued to see recovery primarily in consumer spending despite monetary tightening and other factors in the U.S. In Japan, the economy continued to see moderate recovery due to robust consumer spending and an increase in inbound tourists.

In China, the economy showed weakness in recovery due to sluggish export as well asslower domestic demand resulting from the real estate recession and other factors. In Europe, there were slowdowns in the corporate and household sectors due to monetary tightening and other factors.

Original – Mitsubishi Electric