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MITSUBISHI ELECTRIC Changes for the Better //// Anniversary MITSUBISHI ELECTRIC CORPORATION PUBLIC RELATIONS DIVISION 7-3 , Marunouchi 2 - chome , Chiyoda - ku , Tokyo , 100-8310 Japan FOR IMMEDIATE RELEASE Investor Relations Inquiries Investor Relations Group , Corporate Finance Division Mitsubishi Electric Corporation Cad . Irg@rk.MitsubishiElectric.co.jp No. 3425 Media Inquiries Public Relations Division Mitsubishi Electric Corporation prd.gnews@nk.MitsubishiElectric.co.jp www.MitsubishiElectric.com/news/ Mitsubishi Electric Announces Consolidated Financial Results for the First Quarter of Fiscal 2022 TOKYO , July 29 , 2021 – Mitsubishi Electric Corporation ( TOKYO : 6503 ) announced today its consolidated financial results for the first quarter , ended June 30 , 2021 , of the current fiscal year ending March 31 , 2022 ( fiscal 2022 ) . Consolidated Financial Results Revenue : Operating profit : Profit before income taxes : Net profit attributable to Mitsubishi Electric Corp. stockholders : 1,066.4 billion yen 82.7 billion yen 89.5 billion yen ( 24 % increase from the same period last year ) ( 310 % increase from the same period last year ) ( 230 % increase from the same period last year ) 61.8 billion yen ( 246 % increase from the same period last year ) The economy in the first quarter , from April through June 2021 , of fiscal 2022 generally continued to see recovery in the corporate sector in Japan , the U.S. and Europe , while the paces of recovery in the household sector varied depending on the situation of the expansion of the novel coronavirus diseases ( COVID - 19 ) . China also continued to see recovery primarily in export and manufacturing since the first half of the previous fiscal year . As a result , the financial results for the first quarter improved significantly from the same period of the previous fiscal year that experienced a serious impact of COVID - 19 . Revenue to Revenue in the first quarter increased by 208.2 billion yen from the same period of the previous fiscal year 1,066.4 billion yen due primarily to increased revenue in Industrial Automation Systems , Home Appliances and Electronic Devices segments . Industrial Automation Systems segment saw an increase in the factory automation systems business due mainly to an increase in demand relating to semiconductor , electronic components , smartphones and lithium - ion battery worldwide . The automotive equipment business also increased as demand for new cars recovered in all regions except for China , where demand had been recovering in the first quarter of the previous fiscal year . Home Appliances segment increased due mainly to an increase in air conditioners particularly in Europe and North America . Electronic Devices segment increased due primarily to recovery in demand for power modules . Operating Profit Operating profit increased by 62.5 billion yen from the same period of the previous fiscal year to 82.7 billion yen due mainly to increased operating profit in Industrial Automation Systems and Home Appliances segments . Operating profit ratio improved by 5.4 % from the same period of the previous fiscal year to 7.8 % . The cost ratio improved by 2.1 % from the same period of the previous fiscal year due primarily to higher operating ratio caused by increased revenue of Industrial Automation Systems and Home Appliances segments in addition to the yen depreciating against other currencies . Selling , general and administrative expenses increased by 18.5 billion yen from the same period of the previous fiscal year , but selling , general and administrative expenses to revenue ratio improved by 3.2 % . Other profit ( loss ) increased by 0.7 billion yen from the same period of the previous fiscal year , while other profit ( loss ) to revenue ratio improved by 0.1 % . 1/16