Mitsubishi Electric Corporation (TOKYO: 6503) announced today its consolidated financial results for the first quarter, ended June 30, 2024, of the current fiscal year ending March 31, 2025 (fiscal 2025).

The full document on Mitsubishi Electric’s financial results can be viewed at the following link:

www.MitsubishiElectric.com/news

Consolidated Financial Results

Key Points

1. Q1 FY25: Revenue ¥1,286.4 bn (+¥66.1 bn YoY), Operating Profit ¥58.6 bn (-¥2.3 bn YoY)

- Revenue achieved a new record high due primarily to an increase in the infrastructure segment and the impact of the weaker yen.

- Operating profit remained at the same level YoY due to the impact of a decrease in volume in the factory automation systems business and the impact of rising material and other procurement costs.

2. FY25 forecast: Revenue ¥5,390.0 bn (+¥90.0 bn compared to the previous forecast), Operating Profit ¥400.0 bn (unchanged from the previous announcement)

- The revenue forecast has been revised upward partly due to a reconsideration of foreign exchange rates, while incorporating the impact of the delay in market recovery for factory automation systems.

- We will steadily implement initiatives to achieve earnings targets, including improvements in product prices to reflect the impact of rising procurement costs.

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