Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Mitsubishi Raises Earnings Outlook
Mar 23, 2004
 Printable format
 Email this Article
 Search

Mitsubishi Electric Corp. sharply raised its earnings forecast for the current fiscal year, citing strong demand for digital home appliances in Japan and improved investment sentiment in China.

The Tokyo, Japan-based electronics maker said it now expects a group net profit of 42 billion yen (approx. U.S. $392.5 million) for the year ending March 31, up from the September forecast of 12 billion yen (approx. $112.1 million).

Mitsubishi Electric said that strong capital investment in China had helped sales of factory equipment and semiconductors. Mitsubishi and Hitachi Ltd. jointly own Renesas Technology Corp., said to be the world's third-largest semiconductor maker by market share.

In Japan, brisk sales of digital home appliances has boosted its electronic devices business, helping to offset lower sales of information and communication-related products, including mobile phones, the company said.

While Mitsubishi maintained its group sales outlook for the year at 3.30 trillion yen (approx. $30.9 billion), it said declining pension-related losses had helped boost its profit forecast.

The company returned some of its employee pension funds to the government, as they performed poorly during Japan's stock market slump in recent years. The company said it now expects pretax pension-related losses of about 10 billion yen (approx. $93.5 million) for the year, an improvement from the 40 billion yen (approx. $373.8 million) it had expected in February. (Associated Press)

Back to Daily News

 

Daily News

...........................................................

Apr 22, 2014: Final Rule Establishes Refrigerator Testing

Apr 22, 2014: A Third of Homes Worldwide Could Have Networks by 2018

Apr 22, 2014: Appliance Category Industrial Output Up 2% in March

Apr 21, 2014: Final Commercial Refrigeration Rule Published

Apr 21, 2014: Elam Offers Android-Enabled Kitchen Interface

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows