| |
Mitsubishi Electric
Announces Revised Financial Projections for Fiscal 1998
--Financial Outlook Adjusted to Account for Adverse Market Conditions--
Tokyo, September 19, 1997 - Mitsubishi Electric Corporation has announced
revised projections for its overall business performance for Fiscal
1998 (April 1, 1997-March 31, 1998).
While making the utmost effort to
improve business performance, the company has judged that it will
be unable to meet its original projections announced in May due
to a set of unfavorable circumstances affecting several of the
company's important markets.
In particular, these adverse market conditions include the dampening
effect on domestic air conditioner sales caused by unseasonable
weather in Japan during the month of July, continued declines
in global prices in the DRAM semiconductor and audio visual equipment
sectors, and the recent Thai currency crisis and resultant devaluation
of the Baht.
Taking into consideration the above
circumstances, Mitsubishi Electric has revised its non-consolidated
and consolidated financial projections for both the half-year
(April 1-September 30, 1997) and full annual periods of Fiscal
1998 as follows:
1. Fiscal 1998 Half-year Projections
(April 1, 1997 -- September 30, 1997)
(unit: 100 million yen)
| |
Net Sales
|
Ordinary Profit
|
Net Income
|
|
Non-consolidated
|
13,500
|
50
|
30
|
|
Consolidated
|
18,000
|
100
|
250
|
(Please note that in the column
for Consolidated Ordinary Profit, the figure rendered is actually
"Income Before Income Taxes")
2. Fiscal 1998 Annual Projections
(April 1, 1997-March 31, 1998)
(unit: 100 million yen)
| |
Net Sales
|
Ordinary Profit
|
Net Income
|
| Non-consolidated |
30,000
|
450
|
100
|
| Consolidated |
40,000
|
350
|
100
|
(Please note that in the column
for Consolidated Ordinary Profit, the figure rendered is actually
"Income Before Income Taxes")
3. Previous Projections for Fiscal
1998 (announced in May, 1997)
(unit: 100 million yen)
| | Net Sales
| Ordinary Profit
| Net Income
|
| Non-consolidated
| 30,000
| 700
| 320
|
| Consolidated
| 39,000
| 850
| 200
|
(Please note that in the column
for Consolidated Ordinary Profit, the figure rendered is actually
"Income Before Income Taxes")
For reference: Fiscal 1997 Financial
Results
(unit: 100 million yen)
| | Net Sales
| Ordinary Profit
| Net Income
|
| Non-consolidated
| 28,450
| 611
| 258
|
| Consolidated
| 37,251
| 679
| 85
|
(Please note that in the column for Consolidated Ordinary Profit,
the figure rendered is actually "Income Before Income Taxes")
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