OREANDA-NEWS. October 31, 2011. Mitsubishi Electric Corporation (TOKYO: 6503) announced today its financial results for the first half and second quarter, ending September 30, 2011, of the current fiscal year ending March 31, 2012 (fiscal 2012).

1. Consolidated Half-year Results (April 1, 2011 – September 30, 2011)
Net sales: 1,743.5 billion yen (2% increase from the same period last year) Operating income: 113.6 billion yen (1% increase from the same period last year)
Income before income taxes: 105.8 billion yen (7% decrease from the same period last year) Net income attributable to Mitsubishi Electric Corp.: 69.5 billion yen (2% decrease from the same period last year)

During the first half of fiscal 2012, the economy saw an upturn in Japan following a temporary decline caused by the Great East Japan Earthquake, while a trend of gradual recovery was seen outside Japan despite a slowdown in certain developed markets. Meanwhile, Japanese yen not only appreciated against U.S. dollars, but also against euros from August due to the financial instability in Europe.

Under these circumstances, consolidated net sales for the first half of fiscal 2012 was 1,743.5 billion yen, a 2% increase compared to the same period of the previous fiscal year, mainly owing to increased revenues in the Industrial Automation Systems and Electronic Devices segments. Operating income marked 113.6 billion yen, increasing by 1% compared to the same period of the previous fiscal year, showing higher profits mainly in the Industrial Automation Systems and Electronic Devices segments.

Consolidated Financial Results by Business Segment (First Half, Fiscal 2012)
Energy and Electric Systems
Total sales: 438.7 billion yen (Unchanged from the same period last year)
Operating income: 28.5 billion yen (3.9 billion yen decrease from the same period last year) The social infrastructure systems business saw an increase in orders compared to the same period of the previous fiscal year due primarily to growth in the Japanese power generation business as well as large projects for overseas markets, while experiencing decreased sales from the same period of the previous fiscal year due to a decline in the rolling stock equipment business in Japan.
More details at http://www.mitsubishielectric.com/news/2011/1031-a.pdf