Mitsubishi Electric net profit doubles
AFP, Tokyo
Mitsubishi Electric said Wednesday its net profit more than doubled in the nine months to December on growing sales of industrial and electronic devices despite slower production and capital spending in Japan. Net profit rose 144 percent from a year earlier to 36.2 billion yen (350 million dollars), with pretax profit up 47 percent to 58.3 billion yen as sales grew two percent to 2.35 trillion yen. "During the third quarter of fiscal 2005 ... there was a visible slowdown in the US and Chinese economies," the company said in a statement.
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