MHI Sees Rise in Net Profit for FY 2011 (Japan)

Mitsubishi Heavy Industries Ltd. announced that in the first half of 2011 financial year, its net profit is more than doubled compared to same period last year.

Specifically, the net profit for the fiscal first half climbed to Y39.89 billion from Y17.37 billion in the first half of 2010. For the same period, operating profit reached Y73.18 billion (+13%) from Y64.57 billion in 2010, while revenue decreased to Y1.294 trillion (4.7%) compared to 2010’s Y1.357 trillion.

Estimate of Consolidated Financial Results for FY 2011

For the fiscal year 2011 ending March 31, 2012, MHI is expecting 2,850 billion yen in net sales, 110 billion yen in operating income, 70 billion yen in ordinary income, and 35 billion yen in net income. This estimate is based on the assumption of currency exchange rate of US$ 1.00 = ¥80 and €1.00 = ¥110 for the portion yet to be fixed.

 About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world’s leading heavy machinery manufacturers, with consolidated sales of 2,903.7 billion yen in fiscal 2010, the year ended March 31, 2011. MHI’s diverse lineup of products and services encompasses shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry and air-conditioning systems.

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Source: MHI, November 1, 2011