Mitsubishi Electric Corporation (TOKYO: 6503) announced today the difference between its consolidated earnings forecast previously announced on July 30, 2014 and the actual results for the first half of the current fiscal year, from April 1, 2014 ended September 30, 2014. The company has also revised its consolidated earnings forecast for fiscal 2015, from April 1, 2014 ending March
31, 2015.
Difference of Earnings Forecast and Result for First Half of Fiscal 2015 (In millions of yen)
|
Net Sales |
Operating income |
Income before income taxes |
Net income attributable to Mitsubishi Electric Corp. |
Basic net income per share attributable to Mitsubishi Electric Corp. |
|
| Previousforecast (A) | 1,980,000 | 100,000 | 110,000 | 80,000 | 37.26yen |
| Actualresults (B) | 1,972,838 | 121,391 | 145,926 | 97,854 | 45.58yen |
| Differential (B-A) | (7,162) | 21,391 | 35,926 | 17,854 | |
| Differential ratio(%) | (0.4%) | 21.4% | 32.7% | 22.3% | |
|
1,811,899 |
79,730 |
83,420 |
48,344 |
22.52yen |
The consolidated income figures for the first half of fiscal 2015 exceeded the previous forecast, with an increase in operating income owing mainly to increases in the Home Appliances segment, which showed growth in air conditioners for markets inside and outside Japan, and the Industrial Automation Systems segment, which experienced buoyant demand in capital expenditures for smartphone and automotive related investments. Income before income taxes and net income attributable to Mitsubishi Electric Corporation also exceeded the previous forecast, owing additionally to increased gain on foreign exchange due to the yen weakening towards the end of the second fiscal quarter. Net sales for the first half of fiscal 2015, meanwhile, fell below the previous forecast due to delays in large projects and other factors.
Revised Forecast for Fiscal 2015 (April 1, 2014 – March 31, 2015) (In millions of yen)
|
Net Sales |
Operating income |
Income before income taxes |
Net income attributable to Mitsubishi Electric Corp. |
Basic net income per share attributable to Mitsubishi Electric Corp. | |
| Previous forecast (A) | 4,220,000 | 260,000 | 260,000 | 175,000 | 81.51yen |
| Revised forecast (B) | 4,220,000 | 275,000 | 285,000 | 190,000 | 88.50yen |
| Differential (B-A) | – | 15,000 | 25,000 | 15,000 | |
| Differential ratio(%) | – | 5.8% | 9.6% | 8.6% | |
|
4,054,359 |
235,172 |
248,990 |
153,473 |
71.49yen |
The consolidated earnings forecast for fiscal 2015, ending March 31, 2015, has been revised from the previous forecast announced on July 30, 2014, with operating income and other figures expected to exceed the previous forecast, owing mainly to increases in the Industrial Automation Systems and the Home Appliances segments.
Note: The results forecast above is based on assumptions deemed reasonable by the Company at the present time, and actual results may differ significantly from forecasts. Please refer to the cautionary statement below.
