Mitsubishi’s CE Sales Grow 3%

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Tokyo — Mitsubishi Electric’s home appliance business, which includes consumer electronics, reported fiscal year 2006 sales of $7.82 billion, a 3 percent increase vs. the previous year.

The manufacturer reported that during the fiscal year, which ended March 31, operating income decreased to $130 million vs. the previous year’s $223.5 million. Sales increased due to greater demand for LCD TVs, as well as a variety of major appliance products.

In its information and communications systems sector sales increased $5.62 billion, a 5 percent increase, while operating income grew almost 100 percent to $179.8 million. Sales grew in this category due to an increase in both orders and sales for optical broadband access system products and related items and third-generation mobile handsets for its domestic market, the company said.

For its electronic devices business, which includes LCD panels and red laser diodes for recordable DVD players, sales reached $1.48 billion during the year, a 4 percent increase, while operating grew to $117.8 million, more than a 50 percent gain vs. the last fiscal year.

Overall net sales for the fiscal year were $31.5 billion, a 6 percent increase, with operating income at $1.38 billion worldwide, a 31 percent gain, and 35 percent growth in net income, to $95.6 million.

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