ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
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.
Latest Release
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
Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST
Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category)
Apr 18, 2024 10:53 JST
All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating
Apr 18, 2024 09:22 JST
Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST
Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST
Lexus presents Time at the 2024 Milan Design Week
Apr 16, 2024 18:49 JST
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
Apr 16, 2024 14:36 JST
New circuit challenge for TOYOTA GAZOO Racing
Apr 15, 2024 17:21 JST
TOYOTA GAZOO Racing back on asphalt for Croatian challenge
Apr 12, 2024 19:36 JST
Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
Apr 12, 2024 14:39 JST
MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
Apr 11, 2024 18:08 JST
Mitsubishi Shipbuilding Acquires Approval in Principle (AiP) from Classification Society ClassNK for Ammonia Fuel Supply System (AFSS)
Apr 11, 2024 17:50 JST
DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device Capable of Ultra-high-speed 100 Gbps Transmission
Apr 11, 2024 15:10 JST
Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
Apr 11, 2024 13:07 JST
Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Supply System for Ammonia-Powered Marine Engine
Apr 10, 2024 16:55 JST
Transgene and NEC Present First Clinical Benefits of Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at AACR 2024
Apr 10, 2024 13:36 JST
More Latest Release >>
Related Release
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
4/16/2024 2:36:00 PM JST
Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
4/11/2024 1:07:00 PM JST
Mitsubishi Corporation: Sale of BMA Coal Assets in Queensland Completed
4/3/2024 7:05:00 PM JST
Fujitsu signs MoU with Mitsubishi UFJ Financial Group, Inc. to drive nature positive actions
4/1/2024 4:17:00 PM JST
Mitsubishi Corporation and 7 large international companies join forces to sponsor the creation of a global e-NG coalition
3/19/2024 4:40:00 PM JST
Nissan and Mitsubishi Corporation agree to explore new business in next-generation-mobility and energy-related services utilizing EVs
3/18/2024 5:29:00 PM JST
Mitsubishi Corp to invest in TIER IV: Transforming regional mobility with autonomous driving
3/15/2024 12:36:00 PM JST
Mitsubishi Corporation: Participation in PAK Lithium Project in Canada
3/5/2024 4:57:00 PM JST
Mitsubishi Corporation Expands its Data Center Presence with Entry into US
3/4/2024 3:27:00 PM JST
Mitsubishi Corporation's Sale of Exportadora de Sal, S.A. de C.V., a Salt Production Company in Mexico
2/26/2024 2:29:00 PM JST
More Press release >>