TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
*
Home
Press release
Aug 13, 2020 15:33 JST
Source:
Mitsubishi Corporation
Mitsubishi Corporation Releases Financial Results for the Three Months Ended June 2020
TOKYO, Aug 13, 2020 - (JCN Newswire) - Mitsubishi Corporation reports revenues of ¥2,667.4 billion, a decrease of ¥1,273.9 billion, or 32% year over year. This was mainly due to decreased transaction volumes in the Petroleum business and the Steel business.
Gross profit was ¥379.7 billion, a decrease of ¥104.2 billion, or 22% year over year, mainly due to decreased market prices in the Australian metallurgical coal business and a decrease in franchise commissions from franchise stores in the convenience store business.
Selling, general and administrative expenses was ¥344.9 billion, a decrease of ¥9.8 billion, or 3% year over year, mainly due to reductions in business activities due to the impact of COVID-19.
Gains on investments decreased ¥6.0 billion, or 41% year over year, to ¥8.7 billion, mainly due to worsened fund evaluation profit and loss and the rebound from gains on sales due to asset replacements and business reorganization in the previous year.
Impairment losses on property, plant and equipment and others remained nearly the same year over year at ¥1.3 billion.
Other income (expense)-net improved ¥7.6 billion, or 52% year over year, to an expense amount of ¥7.0 billion, mainly due to gains and losses related to foreign currency exchange.
Finance income decreased ¥32.3 billion, or 63% year over year, to ¥18.6 billion, mainly due to decreased dividend income from resource-related investments.
Share of profit of investments accounted for using the equity method decreased ¥46.4 billion, or 76% year over year, to ¥14.8 billion, mainly due to impairment losses on property, plant and equipment and decreased vehicle sales in Mitsubishi Motors Corporation.
As a result, profit before tax decreased ¥166.6 billion, or 75% year over year, to ¥56.0 billion. Accordingly, profit for the period decreased ¥124.5 billion, or 77% year over year, to ¥36.7 billion.
For the full report, visit
https://bit.ly/3iFZ8NT
.
Source: Mitsubishi Corporation
Sectors: Energy, Alternatives, Engineering
Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Related Press Release
MC and Denka Sign J/V Agreement in Fullerene Business
April 24 2024 16:02 JST
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
April 16 2024 13:36 JST
Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
April 11 2024 12:07 JST
Mitsubishi Corporation: Sale of BMA Coal Assets in Queensland Completed
April 03 2024 18:05 JST
Fujitsu signs MoU with Mitsubishi UFJ Financial Group, Inc. to drive nature positive actions
April 01 2024 15:17 JST
Mitsubishi Corporation and 7 large international companies join forces to sponsor the creation of a global e-NG coalition
March 19 2024 15:40 JST
Nissan and Mitsubishi Corporation agree to explore new business in next-generation-mobility and energy-related services utilizing EVs
March 18 2024 16:29 JST
Mitsubishi Corp to invest in TIER IV: Transforming regional mobility with autonomous driving
March 15 2024 11:36 JST
Mitsubishi Corporation: Participation in PAK Lithium Project in Canada
March 05 2024 15:57 JST
Mitsubishi Corporation Expands its Data Center Presence with Entry into US
March 04 2024 14:27 JST
More Press release >>
Latest Press Release
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan
Apr 26, 2024 10:00 JST
Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST
MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST
GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST
Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST
Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST
UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST
Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST
MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST
Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST
NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST
Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST
Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST
NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST
Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST
TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST
First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST
Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
More Latest Release >>