Mitsubishi Electric Corp. said fiscal 1Q profit rose 19% to a record, helped by sales of audio-visual products and withdrawal from handset operations.
Net income increased to 55.3 billion yen (approx. $512 million) in the three months ended June 30, from 46.5 billion yen a year earlier.
Income in the company's home appliance business, which comprises air-conditioners, refrigerators, flat-panel televisions, and DVD recorders, jumped 21% to 22.5 billion yen in the quarter as revenue increased 6.6% to 253.9 billion yen.
to Daily News