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Mitsubishi Electric Posts 1Q12 Figures

TOKYO — Mitsubishi Electric Corporation (TOKYO:6503) announced today its financial results for the first quarter ending June 30, 2011, of the current fiscal year ending March 31, 2012 (fiscal 2012).

Management conditions during the first quarter of fiscal 2012 experienced a trend of recovery owing to ongoing buoyancy in demand for capital expenditures mainly in Asia, despite a sharp drop in domestic industrial production due to the Great East Japan Earthquake and Japanese yen appreciating against U.S. dollars.

Under these circumstances, first quarter consolidated net sales rose by 4% compared to the same period of the previous fiscal year to 813.6 billion yen, owing to increased revenue from the Energy and Electric Systems, Industrial Automation Systems, Electronic Devices and Home Appliances segments, and other factors.

Read the full press release.

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