Mitsubishi Electric sales up 19%

JAPAN: Mitsubishi Electric’s air conditioning and home products segment reported sales of JPY1,361.1bn ($10bn) in the year to March 31, a 19% increase on the previous year.

Operating profit was up slightly at JPY70.8bn ($522m).

The increased revenue was attributed to the weaker yen and an increase in air conditioner sales in Europe, Japan and North America.

The business also reported an easing of the shortage of electronic components in and after the second quarter.