TOKYO (dpa-AFX) - Mitsubishi Electric Corp. (MIELY.PK, MIELF.PK, 6503.T), an electrical and electronic equipment maker, reported Friday higher profit and revenues in its first half. Further, the company lifted fiscal 2026 outlook for net profit and revenues, but maintained operating profit view.
In Tokyo, Mitsubishi Electric shares were gaining around 2.6 percent to trade at 4,317.00 yen.
In the first half, net profit attributable to stockholders climbed 60 percent to 189.40 billion Japanese yen from last year's 118.64 billion yen.
Operating profit grew 27 percent year-over-year to 224.37 billion yen. Operating margin improved to 8.2 percent from prior year's 6.7 percent.
Revenue for the first half increased 3 percent to 2.73 trillion yen from 2.64 trillion yen a year earlier.
Looking ahead for fiscal 2026, Mitsubishi Electric now projects attributable net profit of 370 billion yen, operating profit of 430 billion yen and revenues of 5.67 trillion yen.
The previous outlook was for attributable net profit of 340 billion yen, operating profit of 430 billion yen and revenues of 5.40 trillion yen.
Revenue is expected to exceed the previous forecast mainly due to foreign exchange rates reconsidered in line with the weaker yen, in addition to sales growth mainly in the Infrastructure segment.
Further, the company declared interim dividend of 25 yen per share, 5 yen per share higher than the prior year. The year-end dividend is expected to be 30 yen per share.
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