Mitsubishi Electric Corporation said that third quarter net sales rose 4 percent compared to the same period of the previous fiscal year to 871.5 billion yen (approx. U.S. $7.2 billion) due to increased revenue in the Energy and Electric Systems, Industrial Automation Systems, Electronic Devices, and Home Appliances segments. In the third quarter, ending Dec. 31, 2006, of fiscal year 2007, ending March 31, 2007, operating income increased 30 percent from the same quarter last year to 63.5 billion yen (approx. $523.5 million) due to increased profit in the Energy and Electric Systems, Industrial Automation Systems, and Home Appliances segments.
Mitsubishi said the business environment during the third quarter of fiscal 2007 saw general strengthening undertones in the global economy. The Japanese economy as well saw general strengthening undertones with continued strength in demands for capital spending, despite a slight weakening in personal spending.
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