TOKYO (dpa-AFX) - Mitsubishi Electric Corp. (MIELF.PK, MIELY.PK), a Japanese
electrical and electronic equipment maker, reported Monday that its
first-quarter net profit attributable to stockholders increased 73 percent to
57.8 billion yen from last year's 33.4 billion yen.

Operating profit of 61.0 billion yen grew 80 percent year-on-year, mainly due to
increases in the Life, Business Platform and Semiconductor & Device segments,
partly offset by drop in the Infrastructure and Industry & Mobility segments.

Revenue was 1.22 trillion yen, up 14 percent from prior year's 1.07 trillion
yen, primarily to the weaker yen.

Looking ahead for fiscal 2024, the company continues to expect attributable net
profit to grow 22 percent year-on-year to 260.0 billion yen, operating profit to
increase 26 percent to 330.0 billion yen and revenues to increase 4 percent to
5.20 trillion yen.

In Japan, Mitsubishi Electric shares were trading at 2,051 yen, up 0.37 percent.



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