FX.co ★ Mitsubishi Electric 9-month Profit Climbs, Backs FY24 Outlook

Mitsubishi Electric Corp., a leading Japanese electronics and electrical equipment firm, revealed on Monday that its net profit attributable to shareholders for the nine-month period surged by 34 percent from the previous year, reaching 186 billion yen.

The company's pre-tax income rose by 32 percent year-over-year to stand at 249 billion yen, while the operating income witnessed a growth of 36 percent, hitting 222.3 billion yen. The firm's revenue also experienced a 6 percent increase from last year, touching 3.78 trillion yen.

Looking forward, Mitsubishi Electric Corp. maintains its projection for the 12-month period ending March 31, 2024. It estimates a net profit of 260 billion yen, marking an increase of 22 percent from the previous year. The company is also optimistic about improving its operating income by 26 percent to 330 billion yen, and forecasts a revenue of 5.20 trillion yen, a 4 percent rise from last year.

In domestic market updates, the shares of Mitsubishi Electric closed on Monday at 2,213.50 yen, recording a 2.24 percent uplift.