Mitsubishi Profits Rise

By Yvette Raikes
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Mitsubishi Electric Corporation recorded Q2 net profits of ¥63.3 billion ($558 million), up 40% YoY, on revenue which rose 2% to ¥1.1 trillion ($9.4 billion). For the first half there were profits of ¥131.1 billion ($1.2 billion), up 48%, on turnover of ¥2.1 trillion ($18.3 billion), a 5% increase. While the company cited a buoyant USA and recovery in Japan and Europe, it experienced a slowdown in China.