Mitsubishi Electric Corporation reported financial results for 9 months and third quarter ended December 31, 2017. Net sales for the nine months period were ¥3,115 billion ($28.32 billion) compared to ¥2,947 billion reported in the same period last year. Net income was ¥193.1 billion ($1.76 billion) compared to ¥135.3 billion reported last year.
Industrial Automation Systems and Electronic Devices segments showed a double-digit revenue growth. Total sales in the Industrial automation systems segment increased by 12% and the electronic devices segment sales growth was 10% compared to the same period of previous year, despite a decrease in demand for optical communication devices.
Q3 2018 net sales and net income were ¥1,039 billion ($9.45 billion) and ¥61.9 billion ($563 million) respectively, compared to ¥974.7 billion and ¥46.9 billion reported in Q3 of 2017.
