Mitsubishi Appliance Business Half Year Sales Down 8%
Mitsubishi Electric Corp. reported an 8% decrease in sales for its Home Appliances business segment in the first half of its current fiscal year. Sales were 423.3 billion yen (approx. US$5.3 billion) in the six-month period ending Sept. 30, 2012. Operating income for the period was 16.8 billion yen (approx. $211 million), down 6.8 billion yen from the same period last year.
Lower sales in the Home Appliances business segment was blamed on much lower demand in Japan for LCD TVs and blu-ray disc recorders