Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 13 August 2020, 14:33 HKT/SGT
Share:
    

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.


Topic: Press release summary
Source: Mitsubishi Corporation

Sectors: Energy, Alternatives, Engineering
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Mitsubishi Corporation Links

http://www.mitsubishicorp.com

https://www.linkedin.com/company/mitsubishi-corporation/

Mitsubishi Corporation
Apr 11, 2025 09:39 HKT/SGT
Mitsubishi Corporation makes DennoKotsu an equity-method affiliate company, strengthening efforts to address regional transportation challenges
Apr 9, 2025 17:22 HKT/SGT
Mitsubishi Corporation to Participate in Demonstration Project for New Hydrogen-Based Ironmaking
Apr 4, 2025 08:04 HKT/SGT
Mitsubishi Corporation Announces Corporate Strategy 2027
Apr 1, 2025 13:16 HKT/SGT
Mitsubishi Corporation: Development of R&D Hub "iPark Kobe" in Kobe Medical Industry City
Mar 28, 2025 15:29 HKT/SGT
Mitsubishi Corporation, ADM Sign Non-Binding MOU, Form Strategic Alliance
Mar 26, 2025 13:31 HKT/SGT
Start of Joint Study on Integrated Power and Data Center Business in Ohgishima area in Keihin District
Mar 13, 2025 12:26 HKT/SGT
Hokkaido Electric Power Corporation and Mitsubishi Corporation Establish a Joint Venture "Hokkaido Renewable Energy Aggregation Co., Ltd."
Feb 24, 2025 11:30 HKT/SGT
Mitsubishi and ENEOS to conduct Front End Engineering Design for Sustainable Aviation Fuel (SAF) Production at the Wakayama Refinery
Feb 21, 2025 14:01 HKT/SGT
Mitsubishi Logistics Corporation, Mitsubishi Corporation, and Yourstand Inc. Advancing Completely CO2-Free Electrification of Pharmaceutical Transportation
Feb 17, 2025 13:10 HKT/SGT
Launch of Joint Demonstration Experiment of Remote Provision of GPU Computing Power
More news >>
 News Alerts
Copyright © 2025 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: