Mitsubishi Appliances Business Sales Down 9%
Feb 2, 2012
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Mitsubishi Electric's Home Appliances business had total sales of 651.1 billion yen in the first nine months of its fiscal year 2012, down 9% from the first nine months of the previous year. Operating income was 24.4 billion yen, down 19.2 billion yen from the same period last year.

Mitsubishi Electric Corp said the appliance business saw an increase in overseas (outside Japan) air-conditioner sales. However, the 2012 fiscal year was up against a third-quarter surge in sales that occurred in the previous fiscal year. In the previous fiscal year a third-quarter change in the eco-point incentive program resulted in a surge in demand for LCD TVs, room air-conditioners, and refrigerators in Japan.

The company said fiscal year 2012 has also seen decreases in overseas photovoltaic systems, primarily in Europe, and in hot water supply systems and induction heating cooking systems for the Japanese market.

Mitsubishi Home Appliances business operating income decreased by 19.2 billion yen compared to the same period of the previous fiscal year.

Other Mitsubishi businesses include Energy and Electric Systems,
Industrial Automation Systems, Information and Communication Systems, and Electronic Devices. In the first three quarters of the 2012 fiscal year Mitsubishi reported overall net sales of 2,560.3 billion yen, down 2% from the first nine months of the previous fiscal year. Operating income was 161.7 billion yen, down 16% from the previous fiscal year.

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