[April 28, 2015] |
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Mitsubishi Electric Announces Consolidated and Non-consolidated Financial Results for Fiscal 2015
Mitsubishi
Electric Corporation (TOKYO:6503) announced today its consolidated
and non-consolidated financial results for fiscal 2015 (April 1, 2014-
March 31, 2015).
The full document on Mitsubishi Electric's (News - Alert) financial results can be
accessed at the following link: www.MitsubishiElectric.com/news
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Consolidated Financial Results
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Net sales:
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4,323.0
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billion yen
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(7% increase from the previous fiscal year)
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Operating income:
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317.6
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billion yen
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(35% increase from the previous fiscal year)
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Income before income taxes:
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322.9
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billion yen
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(30% increase from the previous fiscal year)
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Net income attributable to Mitsubishi Electric Corp.:
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234.6
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billion yen
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(53% increase from the previous fiscal year)
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Non-consolidated Financial Results
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Net sales:
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2,675.6
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billion yen
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(8% increase from the previous fiscal year)
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Operating income:
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150.6
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billion yen
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(52% increase from the previous fiscal year)
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Ordinary profit:
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171.4
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billion yen
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(34% increase from the previous fiscal year)
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Net income:
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135.2
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billion yen
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(35% increase from the previous fiscal year)
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The business environment during the fiscal year ended March 31, 2015 in
general experienced a gradual upward trend, with buoyant economic
expansion in the U.S. and economic recovery in Europe having a positive
effect, despite Japan's economy remaining in a state of weak recovery
centered around consumption and despite the economic slowdown in China
and some emerging markets. In addition, the weakening of the yen
advanced against the U.S. dollar, while the yen became stronger against
the euro.
Under these circumstances, the Mitsubishi Electric Group has been
working even harder than before to promote growth strategies rooted in
its advantages, while continuously implementing initiatives to
strengthen its competitiveness and business structure.
As a result, Mitsubishi Electric has recorded consolidated net sales of
4,323.0 billion yen for fiscal 2015, an increase of 7% compared to the
previous fiscal year with increased sales in all segments. Consolidated
operating income increased by 35% compared to the previous fiscal year
to 317.6 billion yen, due to increased profits in the Industrial
Automation Systems, Information and Communication Systems, Electronic
Devices and Home Appliances segments.
CURRENT FORECAST FOR FISCAL 2016 Despite
global business conditions facing concerns of a further economic
slowdown in China, continued economic stagnation in some emerging
markets and slow recovery primarily in consumption and capital
expenditures in the Japanese market, a continued gradual trend of
economic expansion is expected mainly in the U.S. and Europe.
Under these circumstances, the Mitsubishi Electric Group aims to achieve
its management targets by uplifting its business performance and
financial standings through initiatives such as promoting more strongly
its global operations in its environment and energy related business and
its social infrastructure systems related business, continuously
increasing and strengthening profitability in each business and
continuously implementing various Group-wide business improvement
measures.
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Current forecast for fiscal 2016: consolidated
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Net sales
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4,370.0
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billion yen
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(1% increase from fiscal 2015)
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Operating income
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320.0
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billion yen
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(1% increase from fiscal 2015)
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Income before income taxes
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320.0
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billion yen
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(1% decrease from fiscal 2015)
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Net income attributable to Mitsubishi Electric Corp.
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220.0
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billion yen
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(6% decrease from fiscal 2015)
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Cautionary Statement The
Mitsubishi Electric Group (hereafter "the Group") is involved in
development, manufacture and sales in a wide range of fields including
Energy and Electric Systems, Industrial Automation Systems, Information
and Communication Systems, Electronic Devices and Home Appliances, and
these operations extend globally, not only inside Japan, but also in
North America, Europe, Asia and other regions. While the statements
herein are based on certain assumptions and premises that the Company
trusts and considers to be reasonable under the circumstances on the
date of announcement, actual operating results are subject to change due
to any of the factors as contemplated hereunder and/or any additional
factor unforeseeable as of the date of this announcement. Such factors
materially affecting the expectations expressed herein shall include but
are not limited to the following:
(1)
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Important trends
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The Group's operations may be affected by trends in the global
economy, social conditions, laws, tax codes and regulations.
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(2)
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Foreign currency exchange rates
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Fluctuations in foreign currency markets may affect the Group's
sales of exported products and purchases of imported materials that
are denominated in U.S. dollars or euros, as well as its Asian
production bases' sales of exported products and purchases of
imported materials that are denominated in foreign currencies.
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(3)
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Stock markets
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A fall in stock market prices may cause Mitsubishi Electric to
record devaluation losses on marketable securities, or cause an
increase in retirement benefit obligations in accordance with a
decline in the fair value of pension assets.
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(4)
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Supply/demand balance for products and procurement conditions for
materials and components
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A decline in prices and shipments due to changes in the
supply/demand balance, as well as an increase in material prices due
to a worsening of material and component procurement conditions, may
adversely affect the Group's performance.
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(5)
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Fund raising
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An increase in interest rates, the yen interest rate in particular,
would increase the Group's interest expenses.
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(6)
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Significant patent matters
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Important patent filings, licensing, copyrights and patent-related
disputes may adversely affect related businesses.
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(7)
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Environmental legislation or relevant issues
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The Group may incur losses or expenses owing to changes in
environmental legislation or the occurrence of environmental issues.
Such changes in legislation or the occurrence of environmental
issues may also impact manufacturing and all corporate activities of
the Group.
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(8)
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Flaws or defects in products or services
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The Group may incur losses or expenses resulting out of flaws or
defects in products or services, and the lowered reputation of the
quality of all our products and services may affect the entire Group.
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(9)
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Litigation and other legal proceedings
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The Group's operations may be affected by lawsuits or other legal
proceedings against Mitsubishi Electric, its subsidiaries and/or
equity-method affiliated companies.
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(10)
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Disruptive changes
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Disruptive changes in technology, development of products using new
technology, timing of production and market introduction may
adversely affect the Group's performance.
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(11)
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Business restructuring
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The Group may record losses due to restructuring measures.
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(12)
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Information security
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The performance of the Group may be affected by computer virus
infections, unauthorized access and other unpredictable incidents
that lead to the loss or leakage of personal information held by the
Group or confidential information regarding the Group's business
such as its technology, sales and other operations.
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(13)
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Natural disasters
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The Group's operations, particularly manufacturing activities, may
be affected by the occurrence of earthquakes, typhoons, tsunami,
fires and other large-scale disasters.
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(14)
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Other significant factors
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The Group's operations may be affected by the outbreak of social or
political upheaval due to terrorism, war, pandemic by new strains of
influenza and other diseases, or other factors.
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About Mitsubishi Electric Corporation With
over 90 years of experience in providing reliable, high-quality
products, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized
world leader in the manufacture, marketing and sales of electrical and
electronic equipment used in information processing and communications,
space development and satellite communications, consumer electronics,
industrial technology, energy, transportation and building equipment.
Embracing the spirit of its corporate statement, Changes for the Better,
and its environmental statement, Eco Changes, Mitsubishi Electric
endeavors to be a global, leading green company, enriching society with
technology. The company recorded consolidated group sales of 4,323.0
billion yen (US$ 36.0 billion*) in the fiscal year ended March 31, 2015.
For more information visit: http://www.MitsubishiElectric.com *At
an exchange rate of 120 yen to the US dollar, the rate given by the
Tokyo Foreign Exchange Market on March 31, 2015
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