Mitsubishi Electric Corporation has announced its consolidated financial results for the first quarter of fiscal 2025, which ended on June 30, 2024. The company reported a revenue of ¥1,286.5 billion (US$8.52 billion), reflecting a 5% increase compared to the same period in the previous fiscal year. Despite this growth, the operating profit saw a decline, dropping from ¥61 billion in Q1 FY2024 to ¥58.7 billion (US$389 million) in Q1 FY2025, marking a 4% decrease.
The cost of sales remained stable as a percentage of revenue, slightly improving from 71.1% to 71.0%. However, selling, general, and administrative expenses increased by 9%, impacting the overall profitability. Mitsubishi Electric’s net profit also saw a significant decline, falling by 12% to ¥54.4 billion (US$361 million) from ¥61.6 billion in the same quarter last year.
Segment-wise, the Infrastructure segment experienced notable revenue growth, increasing by 15% to ¥217.4 billion (US$1.44 billion). The Life segment also saw a modest increase of 7%, reaching ¥555.3 billion (US$3.68 billion). However, the Industry & Mobility segment faced a downturn in operating profit, dropping by 28%.
Geographically, revenue from North America grew by 19% to ¥202.3 billion (US$1.34 billion), while revenue from Asia (excluding Japan) slightly decreased. The company’s balance sheet remained robust, with total assets increasing marginally to ¥6,205.1 billion (US$41.2 billion).
Mitsubishi Electric continues to navigate a challenging economic landscape, focusing on improving efficiency and reducing costs to enhance profitability in the upcoming quarters.
