TOKYO (dpa-AFX) - Japan's Mitsubishi Electric Corp. (MIELF.PK, MIELY.PK) reported Friday that its fiscal 2019 net profit attributable to stockholders decreased 11% from last year to 226.6 billion yen.
Consolidated operating profit fell 11% year-over-year to 290.4 billion yen, due to decreased profits in the Industrial Automation Systems and Electronic Devices segments.
Mitsubishi recorded a revenue of 4.52 trillion yen for fiscal 2019, an increase of 2% from the previous year. The higher revenues reflected increased revenue mainly in the Energy and Electric Systems, Industrial Automation Systems and Home Appliances segments.
Looking ahead for fiscal 2020, the company projects attributable net income of 240 billion yen, up 6 percent from fiscal 2019, and operating profit of 295 billion yen, up 2 percent from the previous year. Revenue is projected to be up 2 percent from last year to 4.63 trillion yen.
In Japan, Mitsubishi Electric shares were trading at 1,574 yen, up 3.28 percent.
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