Business Services Industry
Mitsubishi Electric Corp. Raises Earnings Forecasts for FY 2003.
Knight Ridder/Tribune Business News, March, 2004
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Mar. 22--TOKYO -- Mitsubishi Electric Corp. said Monday it has revised upward its group net profit estimate to 42 billion yen for the business year to March 31 from 12 billion yen forecast in February due to increased sales of "mechatronic" products and electronic devices.
Mitsubishi Electric said Chinese demand for mechatronic products and electronic devices expanded due to growing corporate capital spending in the country while domestic companies also sought the products for their use in digital home appliances.
Mechatronic products are electronically operated machine devices.
The estimate for pretax profit has also been revised upward to 80 billion yen from...
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