TOKYO (dpa-AFX) - Japan's Mitsubishi Electric Corp. (MIELF.PK, MIELY.PK) Thursday reported that its first-quarter net profit attributable to company stockholders slid by 58 percent to 17.8 billion yen.
Operating profit for the quarter fell 63 percent to 20.2 billion yen, hurt by lower profits at Industrial Automation Systems, Home Appliances, and Information and Communication Systems segments.
For the first quarter, the Group's revenue slid 18 percent to 858.1 billion yen as a result of lower revenues across all segments.
The Group attributed the results to the global outbreak of COVID-19 pandemic, which resulted in a significant slowdown in both corporate sector and household sector in Japan, the U.S. and Europe.
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