Mitsubishi H1 Net Profit Down 23%

Mitsubishi MSBHY reported a 23% drop in its net profit in the first half of the fiscal year. Mitsubishi's net profit for the period fell to Y190.42 billion ($2.37 billion), from Y246.62 billion, in the year-earlier period. Its revenue declined 3.6% to Y9.651 trillion from Y10.010 trillion, while operating income fell 67% to Y55.66 billion from Y168.61 billion. Mitsubishi shares closed at $35.82 yesterday.