OREANDA-NEWS. Mitsubishi Electric Corporation announced its financial results for the first 9 months and third quarter ending December 31, 2013, of the current fiscal year ending March 31, 2014 (fiscal 2014).

In the first 9 months of fiscal 2014, the business environment continued to recover owing to steady economic trends both in Japan and abroad, as well as the weaker yen advanced since the beginning of the third quarter, despite the economic downturn in some emerging markets.

Under these circumstances, consolidated net sales for the first 9 months of fiscal 2014 increased by 9% compared to the same period of the previous fiscal year to 2,727.2 billion yen with increased sales in the Energy and Electric Systems, Industrial Automation Systems, Electronic Devices and Home Appliances segments. Consolidated operating income increased by 26% compared to the same period of the previous fiscal year to 143.1 billion yen, due to increased profits in the Industrial Automation Systems, Electronic Devices and Home Appliances segments.

75.7 billion yen for refund of overcharged expenses to certain parties in the electronic systems business was recorded as a non-operating expense in the same period of the previous fiscal year.

Consolidated net sales for this quarter increased by 13% compared to the same period of the previous fiscal year to 915.3 billion yen, due primarily to increased sales in the Energy and Electric Systems, Industrial Automation Systems, Electronic Devices and Home Appliances segments. Consolidated operating income is 63.4 billion yen, 2.69 times increase from the same period of the previous fiscal year, with increased profits in the Energy and Electric Systems, Industrial Automation Systems, Electronic Devices and Home Appliances segments.

75.7 billion yen for refund of overcharged expenses to certain parties in the electronic systems business was recorded as a non-operating expense in the same period of the previous fiscal year.