OREANDA-NEWS. Mitsubishi Electric Corporation Announces Consolidated First 9 Months Results (April 1, 2012 – December 31, 2012):
- Net sales: 2,506.8 billion yen (2% decrease from the same period last year),
- Operating income: 113.2 billion yen (30% decrease from the same period last year),
- Income before income taxes: 25.7 billion yen (84% decrease from the same period last year),
- Net income attributable to Mitsubishi Electric Corp.: 49.1 billion yen (40% decrease from the same period last year).

In the first 9 months of fiscal 2013, the business environment continued to be severe, despite the yen becoming weaker toward the end of 2012, with the global economy not showing a clear trend of recovery except for the U.S. and certain steady markets.

Under these circumstances, consolidated net sales for the first 9 months of fiscal 2013 decreased by 2% compared to the same period of the previous fiscal year to 2,506.8 billion yen with decreased sales in the Industrial Automation Systems, Electronic Devices and Home Appliances segments. Consolidated operating income for the first 9 months of fiscal 2013 decreased by 30% compared to the same period of the previous fiscal year to 113.2 billion yen, mainly due to lower profits in the Industrial Automation Systems, Electronic Devices and Home Appliances segments. Income before income taxes decreased by 84% compared to the same period of the previous fiscal year to 25.7 billion yen largely as a result of recording 75.7 billion yen as a non-operating expense for refund of overcharged expenses to certain parties in the electronic systems business. Net income attributable to Mitsubishi Electric Corporation for the first 9 months of fiscal 2013 decreased by 40% compared to the same period of the previous fiscal year to 49.1 billion yen due to a decrease in tax expenses.