TOKYO (dpa-AFX) - Japanese conglomerate Mitsubishi Corp. (MBC.L, MSBHY.PK) reported Tuesday sharply lower profit in its first half, hurt by weak revenues. Further, the firm maintained weak earnings outlook for fiscal year ending March 31, 2026.
In the first half, profit attributable to owners of the parent fell 42.4 percent to 355.80 billion Japanese yen from last year's 618.06 billion yen. Basic earnings per share were 91.87 yen, down from 152.73 yen a year ago.
Profit before tax was 458.47 billion yen, 49.3 percent lower than prior year's 903.51 billion yen.
The revenues for the period fell 7.7 percent to 8.64 trillion yen from 9.35 trillion yen a year ago.
Looking ahead for fiscal year, the company continues to project profit attributable to owners of the parent of 700 billion yen or 186.74 yen per share, down 26.4 percent from the previous year.
In Tokyo, Mitsubishi shares were losing around 3.2 percent to trade at 3,594.00 yen.
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