TOKYO (dpa-AFX) - Japanese conglomerate Mitsubishi Corp. (MBC.L, MSBHY.PK) reported that its net income for the Six Months ended September 2016 rose to 179.8 billion yen from 154.9 billion yen in the prior year.
Earnings in Resource increased 50.0 billion yen, mainly due to reduced production costs and higher market prices in the Australian coal business. Earnings in Non-resource decreased 25.2 billion yen, mainly due to the absence of one-off gains.
The company raised its profit attributable to owners of the parent outlook for fiscal year ending March 31, 2017 to 330.0 billion yen or 208.21 per basic share from the prior estimation of 250.0 billion yen or 157.77 per basic share mainly in light of higher resource market prices.
Copyright RTT News/dpa-AFX