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Mitsubishi CE Sales Tick Up 1%

Tokyo — Mitsubishi Electric’s home appliances business, which includes consumer electronics, registered a 1 percent increase in sales during the company’s fiscal first half, rising to $4 billion from a year-earlier $3.94 billion.

Increases in overseas sales of LCD televisions were among product kudos citing the move upward in category revenue.

Operating income for the home appliances business decreased to $143.9 million in the first half, compared with $160.6 million in the same period last year, due to price reductions.

Mitsubishi’s telecommunications business, its information and communication systems category, reported virtually flat sales in the first half, at $2.33 billion. Mobile handset orders and sales were reduced during the period.

The telecommunications category operating loss was reduced by more than half in the first six months, ended Sept. 30, down to a negative $37 million, compared with a negative $84.6 million year-on-year. The change was due to improvements in the company’s mobile handsets business, said Mitsubishi.

Sales in the electronic devices category increased 2 percent in the first half, to $718.2 million from $706.3 million, with the company’s LCD business enjoying an increase in orders of small- and medium-sized products for equipment displays and mobile handsets. Sales of large commodity-type models decreased, said Mitsubishi.

Operating income for electronic devices rose to $47.3 million in the first six months, up from $31.6 million year-over-year, due to increases in semiconductor sales.

Sales to North America in the first half climbed 10 percent, hitting $1.04 billion from $943.4 million, while the company reported an operating loss in this geographic region of $8.7 million, compared with operating income of $8.5 million in the first half of last year.

A 2 percent rise in consolidated net sales for the six months, in part, due to underlying strength in the American economic environment, was registered by Mitsubishi. Sales reached $14.3 billion, up from $13.9 billion in the first half of last year.

Consolidated net income took a dramatic 53 percent jump in the first six months, to $252 million from $164.6 million, despite high petroleum and materials prices.