TOKYO (dpa-AFX) - Japanese electrical and electronic equipment maker Mitsubishi Electric Corp. (MIELF.PK, MIELY.PK) reported early Thursday that its net profit for the fiscal 20222 grew 5 percent from last year, with 7 growth in revenues, reflecting economic recovery in the corporate sector in the U.S., Europe and Japan.
The group's profit before tax for the year rose by 8 percent to 297.6 billion yen. Net profit attributable to company stockholders increased by 5 percent to 203.4 billion yen. Operating profit for the year reached 252.0 billion yen, registering a 9 percent growth over last year.
For the fiscal 2022, Mitsubishi Electric's revenues rose 7 percent to 4.48 trillion yen. The Group attributed the growth to higher revenue in Industrial Automation Systems, Home Appliances and Electronic Device segments, despite lower revenue in Energy and Electric Systems and Information and Communication Systems segments.
Looking ahead to fiscal 2023, the Group expects attributable net profit of 215.0 billion yen, on revenues of 4.77 trillion yen.
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