MITSUBISHI ELECTRIC CORPORATIONPUBLIC RELATIONS DIVISION
7-3, Marunouchi 2-chome, Chiyoda-ku, Tokyo, 100-8310 JapanFOR IMMEDIATE RELEASE

No. 2898

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Investor Relations Group
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Mitsubishi Electric Corporation
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Mitsubishi Electric Announces Consolidated Financial Results for theFirst 9 Months and Third Quarter of Fiscal 2015
TOKYO, February 2, 2015 – Mitsubishi Electric Corporation (TOKYO: 6503) announced today its financial
results for the first 9 months and third quarter ending December 31, 2014, of the current fiscal year ending March
31, 2015 (fiscal 2015).
1. Consolidated First 9 Months Results (April 1, 2014 – December 31, 2014)
Net sales:
2,983.2 billion yen (9% increase from the same period last year)
Operating income:
201.3 billion yen (41% increase from the same period last year)
Income before income taxes:
220.6 billion yen (42% increase from the same period last year)
Net income attributable to145.6 billion yen (53% increase from the same period last year)
Mitsubishi Electric Corp.:
In the first 9 months of fiscal 2015, the business environment in general experienced an upward trend, with thebuoyant U.S. economy having a positive effect despite the economic weakness in Japan, Europe and someemerging markets. In addition, the weakening of the yen advanced towards the end of the third quarter.
Under these circumstances, consolidated net sales for the first 9 months of fiscal 2015 increased by 9% comparedto the same period of the previous fiscal year to 2,983.2 billion yen with increased sales in all segments.
Consolidated operating income increased by 41% compared to the same period of the previous fiscal year to 201.3
billion yen, due to increased profits in the Industrial Automation Systems, Information and Communication
Systems, Electronic Devices and Home Appliances segments.
Consolidated Financial Results by Business Segment (First 9 months, Fiscal 2015)
Energy and Electric Systems
Total sales:
779.7 billion yen (6% increase from the same period last year)
Operating income:32.5 billion yen (10.7 billion yen decrease from the same period last year)
The social infrastructure systems business saw a decrease in orders compared to the same period of the previous
fiscal year due primarily to a decrease in the power generation business in Japan. Sales, meanwhile, saw anincrease compared to the same period of the previous fiscal year owing to increases in the rolling-stock equipment
business outside Japan and the public utility systems business in Japan.
The building systems business experienced increases both in orders and sales compared to the same
period of the previous fiscal year, owing to growth in the new installation of elevators and escalators overseas,

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mainly in China and ASEAN countries, as well as the weaker yen.
As a result, total sales for this segment increased by 6% from the same period of the previous fiscal year.
Operating income decreased by 10.7 billion yen from the same period of the previous fiscal year due primarily toa shift in project portfolio.
Industrial Automation Systems
Total sales:
932.5 billion yen (20% increase from the same period last year)
Operating income:108.2 billion yen (36.8 billion yen increase from the same period last year)
The factory automation systems business saw increases in both orders and sales from the same period of theprevious fiscal year due to growth in capital expenditures relating to smartphone and automotive industries as well
as facility replacements by manufacturers in Japan, and due additionally to the weaker yen.
The automotive equipment business saw increases in both orders and sales from the same period of theprevious fiscal year due primarily to growth in the car sales market in North America and China, as well as the
positive influence of the weaker yen.
As a result, total sales for this segment increased by 20% from the same period of the previous fiscal
year. Operating income increased by 36.8 billion yen from the same period of the previous fiscal year due
primarily to an increase in sales.
Information and Communication Systems
Total sales:
375.4 billion yen (6% increase from the same period last year)
12.9 billion yen (9.6 billion yen increase from the same period last year)
Operating income:The telecommunications equipment business saw decreases in both orders and sales from the same period of theprevious fiscal year due primarily to a decrease in demand for communications infrastructure products.
Sales in the information systems and service business remained substantially unchanged compared tosales of the same period of the previous fiscal year.
The electronic systems business saw a decrease in orders compared to the same period of the previous
fiscal year due to a decrease in orders for large-scale projects in the electronics business. Sales, meanwhile,
experienced an increase compared to the same period of the previous fiscal year due to progress in orders alreadyreceived for projects in the electronics and space systems businesses.
As a result, total sales for this segment increased by 6% compared to the same period of the previous
fiscal year. Operating income increased by 9.6 billion yen from the same period of the previous fiscal year due
primarily to an increase in sales.
Electronic Devices
Total sales:
Operating income:

161.6 billion yen (20% increase from the same period last year)
15.9 billion yen (8.2 billion yen increase from the same period last year)

The semiconductor business saw increases in both orders and sales from the same period of the previous fiscal
year due to an increase in demand mainly for power modules used in automotive, railcar, consumer and industrial
applications and for optical communication devices, and due additionally to the weaker yen.
Orders in the LCD module business remained substantially unchanged compared to the same period of
the previous fiscal year, while sales decreased compared to the same period of the previous fiscal year.
As a result, total sales for this segment increased by 20% compared to the same period of the previous
fiscal year. Operating income increased by 8.2 billion yen compared to the same period of the previous fiscal year
due primarily to an increase in sales.

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Home Appliances
Total sales:
Operating income:

689.6 billion yen (3% increase from the same period last year)
41.1 billion yen (10.7 billion yen increase from the same period last year)

The home appliances business saw an increase in sales of 3% compared to the same period of the previous fiscal
year due primarily to increased sales in air conditioners in Asian, North American and European markets and inpackage air conditioners in Japan, as well as the weaker yen, despite impact from the backlash due to thelast-minute surge in demand experienced in Japan before the rise in consumption tax.
Operating income increased by 10.7 billion yen compared to the same period of the previous fiscal year
largely due to an increase in sales.
OthersTotal sales:
Operating income:

534.9 billion yen (13% increase from the same period last year)
13.9 billion yen (3.9 billion yen increase from the same period last year)

Sales increased by 13% compared to the same period of the previous fiscal year mainly at affiliated companies
involved in materials procurement.
Operating income increased by 3.9 billion yen compared to the same period of the previous fiscal year
due primarily to an increase in sales.
2. Consolidated Third-quarter Results (October 1, 2014 – December 31, 2014)
Net sales:
1,010.4 billion yen (10% increase from the same period last year)
Operating income:
79.9 billion yen (26% increase from the same period last year)
Income before income taxes:
74.7 billion yen (3% increase from the same period last year)
Net income attributable to
Mitsubishi Electric Corp.:
47.7 billion yen (3% increase from the same period last year)
Consolidated net sales for this quarter increased by 10% compared to the same period of the previous fiscal year
to 1,010.4 billion yen due to increased sales in all segments. Consolidated operating income was 79.9 billion yen,increasing by 26% from the same period of the previous fiscal year with increased profits in the Industrial
Automation Systems, Information and Communication Systems and Electronic Devices segments.

Consolidated Financial Results by Business Segment (Third Quarter, Fiscal 2015)
Energy and Electric Systems
Total sales:
277.5 billion yen (7% increase from the same period last year)
Operating income:20.0 billion yen (4.8 billion yen decrease from the same period last year)
The social infrastructure systems business saw a decrease in orders compared to the same period of the previous
fiscal year due primarily to a decrease in orders for the public utility systems business in Japan, while sales
increased compared to the same period of the previous fiscal year owing to increases in the power generation andthe rolling-stock equipment businesses outside Japan.
The building systems business experienced increases both in orders and sales compared to the same
period of the previous fiscal year, owing to growth in the new installation of elevators and escalators overseas,
mainly in China and ASEAN countries, as well as the weaker yen.
As a result, total sales for this segment increased by 7% from the same period of the previous fiscal year.
Operating income decreased by 4.8 billion yen from the same period of the previous fiscal year due primarily to ashift in project portfolio.

3/18

Industrial Automation Systems
Total sales:
323.2 billion yen (19% increase from the same period last year)
Operating income:41.9 billion yen (9.5 billion yen increase from the same period last year)
The factory automation systems business saw increases in both orders and sales from the same period of theprevious fiscal year due to growth in capital expenditures relating to smartphone and automotive industries as well
as facility replacements by manufacturers in Japan, and due additionally to the weaker yen.
The automotive equipment business saw increases in both orders and sales from the same period of theprevious fiscal year primarily due to growth in the car sales market in North America and China, as well as the
positive influence of the weaker yen.
As a result, total sales for this segment increased by 19% compared to the same period of the previous
fiscal year. Operating income increased by 9.5 billion yen compared to the same period of the previous fiscal year
due to an increase in sales and other factors.
Information and Communication Systems
Total sales:
126.9 billion yen (13% increase from the same period last year)
7.6 billion yen (7.4 billion yen increase from the same period last year)
Operating income:The telecommunications equipment business saw decreases in both orders and sales from the same period of theprevious fiscal year due primarily to a decrease in demand for communications infrastructure products.
Sales in the information systems and service business decreased compared to sales of the same period of
the previous fiscal year due to a decrease in sales for the system integration business.
The electronic systems business saw a decrease in orders compared to the same period of the previous
fiscal year due to a decrease in orders for large-scale projects in the electronics business. Sales, meanwhile,
experienced an increase compared to the same period of the previous fiscal year due to progress in orders alreadyreceived for projects in the electronics and space systems businesses.
As a result, total sales for this segment saw an increase of 13% compared to the same period of theprevious fiscal year. Operating income increased by 7.4 billion yen from the same period of the previous fiscal
year mainly due to an increase in sales.
Electronic Devices
Total sales:
Operating income:

55.0 billion yen (24% increase from the same period last year)
8.2 billion yen (4.9 billion yen increase from the same period last year)

The semiconductor business saw a decrease in orders from the same period of the previous fiscal year, while sales
increased from the same period of the previous fiscal year due mainly to an increase in power modules used in
automotive, railcar, industrial and consumer applications and for optical communication devices, and due
additionally to the weaker yen.
The LCD module business saw decreases in both orders and sales compared to the same period of theprevious fiscal year due to a decrease in demand for industrial applications.
As a result, total sales for the segment increased by 24% compared to the same period of the previous
fiscal year. Operating income increased by 4.9 billion yen compared to the same period of the previous fiscal year
due primarily to an increase in sales.

4/18

Home Appliances
Total sales:
Operating income:

212.5 billion yen (3% increase from the same period last year)
5.9 billion yen (1.2 billion yen decrease from the same period last year)

The home appliances business saw an increase in sales of 3% compared to the same period of the previous fiscal
year due primarily to increased sales in air conditioners in Asian and North American markets, as well as theweaker yen, despite impact from the last-minute surge in demand experienced in Japan before the rise in
consumption tax the previous year.
Operating income decreased by 1.2 billion yen compared to the same period of the previous fiscal year
due to an increase in sales expenses worldwide and other factors.
OthersTotal sales:
Operating income:

183.6 billion yen (11% increase from the same period last year)
5.7 billion yen (0.8 billion yen increase from the same period last year)

Sales increased by 11% compared to the same period of the previous fiscal year mainly at affiliated companies
involved in materials procurement.
Operating income increased by 0.8 billion yen compared to the same period of the previous fiscal year
due to an increase in sales and other factors.

Financial Standing
An analysis on the status of assets, liabilities, equity and cash flow on a consolidated basis
The Company’s total assets as of the end of this fiscal quarter increased from the end of the previous fiscal yearby 220.7 billion yen to 3,833.6 billion yen. The change in the balance of total assets is mainly attributable toincreases in the balances of cash and cash equivalents of 34.5 billion yen, and of work-in-process to be recordedin commensurate with progress in job orders under pertinent contracts of 211.3 billion yen, while tradereceivables showed a decrease of 71.8 billion yen resulting from various factors including credit collection.
Total liabilities decreased from the end of the previous fiscal year by 18.0 billion yen to 1,994.5 billion yen. The
outstanding balances of debts and corporate bonds increased by 12.4 billion yen from the end of the previous
fiscal year to 385.9 billion yen. The ratio of interest bearing debt to total assets, however, declined to 10.1%,
which was a 0.2 point decrease compared to the end of the previous fiscal year. The outstanding balance of trade
payables decreased by 24.4 billion yen, and retirement and severance benefits decreased by 56.2 billion yen,mainly owing to an increase in pension assets resulting from a rise in stock prices, while other current liabilities
increased by 48.3 billion yen.
Mitsubishi Electric Corporation shareholders’ equity increased by 230.7 billion yen compared to the end of theprevious fiscal year to 1,755.0 billion yen. Shareholders’ equity ratio, representing a 3.6 point increase comparedto the end of the previous fiscal year, was recorded as 45.8%. The changes referred to above are primarily
resulting from a recorded net income attributable to Mitsubishi Electric Corporation of 145.6 billion yen, together
with an increase in accumulated other comprehensive income by 122.8 billion yen backed by such factors as
rising stock prices and the weaker yen, despite a dividend payment of 42.9 billion yen.
Cash flows from operating activities decreased by 74.1 billion yen compared to the same period of the previous
fiscal year to 190.4 billion yen (cash in). Cash flows from investing activities increased by 50.6 billion yen
compared to the same period of the previous fiscal year to 142.6 billion yen (cash out) resulting primarily from anincrease in capital expenditure. Consequently, free cash flow totaled 47.8 billion yen (cash in). Cash flows fromfinancing activities were 38.0 billion yen (cash out) mainly due to dividend payments.

5/18

Forecast for Fiscal 2015 (year ending March 31, 2015)
The consolidated earnings forecast for fiscal 2015, ending March 31, 2015, has been revised from the previous
forecast announced on October 30, 2014, with the company’s business performance expected to exceed theprevious forecast mainly in the Industrial Automation Systems segment, which experienced buoyant demand incapital expenditures for smartphone and automotive related investments in the factory automation systems
business, and also saw expansion in the automotive equipment business due primarily to increased car sales inNorth America.
Consolidated earnings forecast for fiscal 2015
Previous forecast(announced October 30)
Net sales:
4,220.0 billion yen
Operating income:
275.0 billion yen
Income before income taxes:
285.0 billion yen
Net income attributable to190.0 billion yen
Mitsubishi Electric Corp.:

Current forecast
4,240.0 billion yen (5% increase from fiscal 2014)
290.0 billion yen (23% increase from fiscal 2014)
290.0 billion yen (16% increase from fiscal 2014)
200.0 billion yen (30% increase from fiscal 2014)

Note: The results forecast above is based on assumptions deemed reasonable by the Company at the present
time, and actual results may differ significantly from forecasts. Please refer to the cautionary statement at the
end.

6/18

Consolidated Financial Results Summary
1.

Consolidated First 9 Months Results(In billions of yen except where noted)
FY ’14 9 months (A)(Apr. 1, 2013 –Dec. 31, 2013)

FY ’15 9 months (B)(Apr. 1, 2014 –Dec. 31, 2014)

2,727.2

2,983.2

255.9

109

Operating income

143.1

201.3

58.1

141

Income before income taxes

155.7

220.6

64.9

142

94.8

145.6

50.7

153

44.20 yen

67.82 yen23.62 yen

153

Net sales

Net income attributable to
Mitsubishi Electric Corp.
Basic net income per share
attributable to Mitsubishi
Electric Corp.

B–A

B/A
(%)

2. Consolidated Third-quarter Results(In billions of yen except where noted)
FY ’14 Q3 (A)(Oct. 1, 2013 –Dec. 31, 2013)

FY ’15 Q3 (B)(Oct. 1, 2014 –Dec. 31, 2014)

B–A

B/A
(%)

Net sales

915.3

1,010.4

95.0

110Operating income

63.4

79.9

16.5

126

Income before income taxes

72.3

74.7

2.3

103

46.5

47.7

1.2

103

21.68 yen

22.24 yen

0.56 yen103

Net income attributable to
Mitsubishi Electric Corp.
Basic net income per share
attributable to Mitsubishi
Electric Corp.
Notes:

1) Consolidated financial charts made in accordance with U.S. GAAP.
2) The Company has 173 consolidated subsidiaries.

7/18

Consolidated Profit and Loss Statement (First 9 Months, Fiscal 2015)(In millions of yen)

Net sales
Cost of sales
Selling, general andadministrative expenses
Loss on impairment of long-lived
assetsOperating income
Other income
Interest and dividends
Equity in earnings ofaffiliated companies
Other
Other expenses
Interest
Other
Income before income taxes
Income taxes
Net income
Net income attributable tothe noncontrolling interests
Net income attributable to
Mitsubishi Electric Corp.

FY ’14 9 months(Apr. 1, 2013 –Dec. 31, 2013)
% of
(A)
total
2,727,280
100.0
1,942,405
71.2

FY ’15 9 months(Apr. 1, 2014 –Dec. 31, 2014)
% of
(B)
total
2,983,261
100.0
2,080,560
69.7

B–A

B/A (%)

255,981138,155

109
107

638,90223.5

699,83123.5

60,929

110

2,818

0.1

1,532

0.1

(1,286)54

143,155
40,658
6,446

5.2
1.5
0.2

201,338
59,769
6,103

6.7
2.0
0.2

58,183
19,111
(343)

141
147
95

14,845

0.6

19,998

0.7

5,153

135

19,36728,061
3,463
24,598
155,752
55,145
100,607

0.7
1.0
0.1
0.9
5.7
2.0
3.7

33,66840,454
2,855
37,599220,653
66,299154,354

1.1
1.3
0.1
1.2
7.4
2.2
5.2

14,301
12,393(608)
13,00164,901
11,15453,747

174
144
82
153
142
120
153

5,717

0.2

8,750

0.3

3,033

153

94,8903.5

145,604

4.9

50,714153

Consolidated Comprehensive Income Statement (First 9 Months, Fiscal 2015)(In millions of yen)

Net income
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments
Pension liability adjustments
Unrealized gains on securities
Unrealized gains (losses) on derivative instruments
Total
Comprehensive income
Comprehensive income attributable tothe noncontrolling interests
Comprehensive income attributable to
Mitsubishi Electric Corp.

8/18

FY ’149 months (A)(Apr. 1, 2013 –Dec. 31, 2013)
100,607

FY ’159 months (B)(Apr. 1, 2014–
Dec. 31, 2014)
154,354

46,54136,37851,752(83)
134,588
235,195

71,54435,67022,8763
130,093284,447

25,003(708)(28,876)
86(4,495)49,252

10,413

16,043

5,630

224,782

268,404

43,622

B–A
53,747

Consolidated Profit and Loss Statement (Third Quarter, Fiscal 2015)(In millions of yen)

Net sales
Cost of sales
Selling, general andadministrative expenses
Loss on impairment of long-lived
assetsOperating income
Other income
Interest and dividends
Equity in earnings ofaffiliated companies
Other
Other expenses
Interest
Other
Income before income taxes
Income taxes
Net income
Net income attributable tothe noncontrolling interests
Net income attributable to
Mitsubishi Electric Corp.

FY ’14 Q3(Oct. 1, 2013 –Dec. 31, 2013)
% of
(A)
total
915,381100.0
636,986
69.6

FY ’15 Q3(Oct. 1, 2014 –Dec. 31, 2014)

1,010,423
698,453

% of
total
100.0
69.1

(B)

B–A

B/A (%)

95,042
61,467

110
110

214,970

23.5

231,19022.9

16,220

108

－

－

833

0.1

833

－

63,42515,042
1,618

6.9
1.7
0.2

79,947
19,513
1,833

7.9
1.9
0.2

16,522
4,471
215

126
130
113

6,960

0.8

7,844

0.8

884

113

6,464
6,135
1,035
5,100
72,332
24,121
48,211

0.7
0.7
0.1
0.6
7.9
2.6
5.3

9,836
24,733892
23,84174,727
23,132
51,595

0.9
2.4
0.1
2.3
7.4
2.3
5.1

3,372
18,598(143)
18,741
2,395
(989)
3,384

152
403
86
467
103
96
107

1,665

0.2

3,845

0.4

2,180

231

46,546

5.1

47,750

4.7

1,204

103

Consolidated Comprehensive Income Statement (Third Quarter, Fiscal 2015)(In millions of yen)

Net income
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments
Pension liability adjustments
Unrealized gains (losses) on securities
Unrealized gains (losses) on derivative instruments
Total
Comprehensive income
Comprehensive income attributable tothe noncontrolling interests
Comprehensive income attributable to
Mitsubishi Electric Corp.

9/18

FY ’14 Q3 (A)(Oct. 1, 2013 –Dec. 31, 2013)
48,211

FY ’15 Q3 (B)(Oct. 1, 2014 –Dec. 31, 2014)
51,595

19,34820,643
17,485(9)57,467
105,678

51,593
17,496(389)
1568,715
120,310

32,245(3,147)(17,874)24
11,248
14,632

3,489

8,695

5,206

102,189

111,615

9,426

B–A
3,384

Consolidated Balance Sheet(In millions of yen)

(Assets)
Current assets
Cash and cash equivalents
Short-term investments
Trade receivables
Inventories
Prepaid expenses and other current assets
Long-term trade receivables
Investments
Net property, plant and equipment
Other assets
Total assets(Liabilities)
Current liabilities
Bank loans and current portion of long-term debt
Trade payables
Other current liabilities
Long-term debt
Retirement and severance benefits
Other fixed liabilities
Total liabilities(Equity)
Mitsubishi Electric Corp. shareholders’ equity
Common stock
Capital surplus
Retained earnings
Accumulated other comprehensive income (loss)
Treasury stock at cost
Noncontrolling interests
Total equity
Total liabilities and equity
Balance of Debt
Accumulated other comprehensive income (loss):
Foreign currency translation adjustments
Pension liability adjustments
Unrealized gains on securities
Unrealized gains (losses) on derivative
instruments

10/18

FY ’14 (A)(ending Mar.
31, 2014)

FY ’ 15
9 months (B)(ending Dec.
31, 2014)

B–A

2,290,007
418,049
51
983,468
602,341
286,098
4,813
497,510649,385
171,251
3,612,966

2,477,775
452,635－
912,056
813,661
299,423
4,333
532,600
695,402123,585
3,833,695

187,768
34,586(51)(71,412)211,320
13,325(480)
35,09046,017(47,666)
220,729

1,494,243
162,052
758,913573,278
211,426
212,638
94,3082,012,615

1,546,759
190,681734,473621,605
195,220
156,365
96,1791,994,523

52,516
28,629(24,440)
48,327(16,206)(56,273)
1,871(18,092)

1,524,322
175,820
207,089
1,139,738
1,957
(282)
76,0291,600,351
3,612,966

1,755,038
175,820
212,374
1,242,406
124,757(319)
84,134
1,839,172
3,833,695

230,716－
5,285
102,668
122,800(37)
8,105
238,821220,729

373,478

385,901

12,42338,652(119,279)
82,636(52)

102,962(83,609)
105,446(42)

64,31035,67022,81010

Consolidated Cash Flow Statement(In millions of yen)

Cash flows from operating activities
1 Net income
2 Adjustments to reconcile net income to net cash
provided by operating activities(1) Depreciation of tangible fixed assets and other(2) Decrease in trade receivables(3) Decrease (increase) in inventories(4) Increase (decrease) in trade payables(5) Other, net
Net cash provided by operating activities
II
Cash flows from investing activities
1 Capital expenditure
2 Proceeds from sale of property, plant and equipment
3 Purchase of short-term investments and investment
securities (net of cash acquired)
4 Proceeds from sale of short-term investments andinvestment securities
5 Other, net
Net cash used in investing activities
I+II Free cash flow
III
Cash flows from financing activities
1 Proceeds from long-term debt
2 Repayment of long-term debt
3 Increase (decrease) in bank loans, net
4 Dividends paid
5 Purchase of treasury stock
6 Reissuance of treasury stock
7 Other, net
Net cash provided by (used in) financing activities
IV
Effect of exchange rate changes on cash and cash
equivalents
V
Net increase in cash and cash equivalents
VI
Cash and cash equivalents at beginning of periodVII
Cash and cash equivalents at end of period

FY ’14 9 months(Apr. 1, 2013 –Dec. 31, 2013)(A)

FY ’15 9 months(Apr. 1, 2014 –Dec. 31, 2014)(B)

100,607

154,354

53,747

94,200207,626(101,668)(5,111)(31,006)
264,648

110,153
100,280(176,662)(13,793)
16,165
190,497

15,953(107,346)(74,994)(8,682)
47,171(74,151)(103,004)
2,681(150,507)
5,728(47,503)
3,047(16,967)(1,985)

14,982

28,636(3,330)(91,984)

7,828(3,719)(142,655)(20,808)(389)(50,671)

172,664

47,842(124,822)－(102,183)(19,862)(25,762)(44)
1(3,308)(151,158)

50,001(54,763)
12,656(42,936)(37)
0(2,971)(38,050)

50,00147,42032,518(17,174)7(1)
337
113,108

17,701
39,207
298,881
338,088

24,794
34,586
418,049
452,635

7,093(4,621)
119,168
114,547

B–A

I

11/18

Consolidated Segment Information (First 9 Months, Fiscal 2015)
1. Sales and Operating Income by Business Segment(In millions of yen)

Business Segment

Energy and Electric Systems
Industrial Automation
Systems
Information andCommunication Systems

FY ’14 9 months(Apr. 1, 2013 –Dec. 31, 2013)
OperatingSales (A) income (B)735,952
43,317

FY ’15 9 months(Apr. 1, 2014 –Dec. 31, 2014)
OperatingSales (C)income (D)779,708
32,577

C–A

D–B

C/A
(%)

43,756(10,740)

106

778,342

71,338932,592

108,202

154,250

36,864120

355,177

3,303

375,481

12,99420,3049,691

106

135,029
667,049

7,773
30,423

161,602689,627

15,99041,181

26,573
22,5788,217
10,758

120
103

OthersSubtotal

472,956
3,144,505

10,034
166,188534,9073,473,917

13,985
224,929

61,951
329,412

3,951
58,741

113
110

Eliminations and otherTotal(417,225)
2,727,280(23,033)
143,155(490,656)
2,983,261(23,591)
201,338(73,431)
255,981(558)
58,183－
109

Electronic Devices
Home Appliances*Note: Inter-segment sales are included in the above chart.

2. Sales and Operating Income by Location(In millions of yen)
FY ’14 9 months(Apr. 1, 2013 –Dec. 31, 2013)
OperatingSales (A)income (B)FY ’15 9 months(Apr. 1, 2014 –Dec. 31, 2014)
OperatingSales (C)income (D)

C–A

D–B

2,265,708

112,5722,460,765

142,828

195,057

30,256

109

North America

232,470523

278,930

2,800

46,4602,277

120Asia (excluding Japan)

586,525

34,951

742,455

58,412

155,930

23,461127

Europe259,825

3,160

289,455

9,176

29,630

6,016

111

Others35,472

1,509

36,241

658

769

(851)

102

Subtotal

3,380,000

152,715

3,807,846

213,874

427,846

61,159113

Eliminations(652,720)(9,560)(824,585)(12,536)(171,865)(2,976)－

Total

2,727,280

143,155

2,983,261

201,338

255,981

58,183109

Location

Japan*Note: Inter-segment sales are included in the above chart.

12/18

C/A
(%)

3. Sales by Location of Customers(In millions of yen)

Location of Customers

Japan
North AmericaAsia(excluding Japan)
EuropeOthersTotal overseas sales
Consolidated total

FY ’14 9 months(Apr. 1, 2013 –Dec. 31, 2013)% ofSales (A)total net
sales
1,643,157
60.2

FY ’15 9 months(Apr. 1, 2014 –Dec. 31, 2014)% ofSales (B) total net
sales
1,683,389
56.4

B–A

B/A (%)

40,232

102

238,3968.7

284,886

9.5

46,490120

530,733

19.5

681,64622.9

150,913128

249,31765,677

9.2
2.4

268,81164,5299.0
2.2

19,494(1,148)108
98

1,084,123
2,727,280

39.8
100.0

1,299,872
2,983,261

43.6
100.0

215,749
255,981

120
109

13/18

Consolidated Segment Information (Third Quarter, Fiscal 2015)
1. Sales and Operating Income by Business Segment(In millions of yen)

Business Segment

Energy and Electric
Systems

FY ’14 Q3(Oct. 1, 2013 –Dec. 31, 2013)
OperatingSales (A)income (B)FY ’15 Q3(Oct. 1, 2014 –Dec. 31, 2014)
OperatingSales (C)income (D)

C–A

D–B

C/A
(%)

258,740

24,948277,51420,062

18,774(4,886)

107271,957

32,415323,291

41,93951,334

9,524

119

112,614165

126,969

7,654

14,355

7,489

113

44,493207,011

3,247
7,234

55,077
212,527

8,218
5,956

10,584
5,516

4,971(1,278)124
103

OthersSubtotal

165,454
1,060,269

4,871
72,880183,664
1,179,042

5,712
89,541

18,210118,773841
16,661

111
111

Eliminations and otherTotal(144,888)
915,381(9,455)63,425(168,619)
1,010,423(9,594)79,947(23,731)
95,042(139)
16,522－
110

Industrial Automation
Systems
Information andCommunication Systems
Electronic Devices
Home Appliances*Note: Inter-segment sales are included in the above chart.

2. Sales and Operating Income by Location(In millions of yen)

Location

FY ’14 Q3(Oct. 1, 2013 –Dec. 31, 2013)
OperatingincomeSales (A)(loss) (B)FY ’15 Q3(Oct. 1, 2014 –Dec. 31, 2014)
Sales (C)Operatingincome (D)

C–A

D–B

C/A
(%)

Japan

771,41757,675

839,516

70,837

68,09913,162

109

North America

75,591(456)

101,903300

26,312756

135

Asia (excluding Japan)

199,199

11,422

255,493

18,311

56,294

6,889

128Europe85,680340

95,925

2,388

10,245

2,048

112

Others11,931

601

14,584

414

2,653

(187)

122

Subtotal

1,143,818

69,582

1,307,421

92,250163,603

22,668114

Eliminations(228,437)(6,157)(296,998)(12,303)(68,561)(6,146)－

Total

915,381

63,425

1,010,423

79,947

95,042

16,522110*Note: Inter-segment sales are included in the above chart

14/18

3. Sales by Location of Customers(In millions of yen)

Location of Customers

Japan
North AmericaAsia(excluding Japan)
EuropeOthersTotal overseas sales
Consolidated total

FY ’14 Q3(Oct. 1, 2013 –Dec. 31, 2013)% ofSales (A)total netsales
559,656
61.1

FY ’15 Q3(Oct. 1, 2014 –Dec. 31, 2014)% ofSales (B) total net
sales
562,840
55.7

B–A

B/A (%)

3,184

101

77,864

8.5

101,979

10.1

24,115

131

173,10218.9

233,90923.2

60,807

135

81,34923,4108.9
2.6

87,08024,615

8.6
2.4

5,731
1,205

107
105

355,725
915,381

38.9
100.0

447,583
1,010,423

44.3
100.0

91,85895,042

126
110

Cautionary Statement
The Mitsubishi Electric Group (hereafter “the Group”) is involved in development, manufacture and sales ina wide range of fields including Energy and Electric Systems, Industrial Automation Systems, Information
and Communication Systems, Electronic Devices and Home Appliances, and these operations extend
globally, not only inside Japan, but also in North America, Europe, Asia and other regions. While thestatements herein are based on certain assumptions and premises that the Company trusts and considers to bereasonable under the circumstances on the date of announcement, actual operating results are subject to change
due to any of the factors as contemplated hereunder and/or any additional factor unforeseeable as of the date ofthis announcement. Such factors materially affecting the expectations expressed herein shall include but are
not limited to the following:(1) Important trends
The Group’s operations may be affected by trends in the global economy, social conditions, laws, tax
codes and regulations.
(2) Foreign currency exchange rates
Fluctuations in foreign currency markets may affect the Group’s sales of exported products and purchasesof imported materials that are denominated in U.S. dollars or euros, as well as its Asian production bases’
sales of exported products and purchases of imported materials that are denominated in foreign currencies.
(3) Stock markets
A fall in stock market prices may cause Mitsubishi Electric to record devaluation losses on marketablesecurities, or cause an increase in retirement benefit obligations in accordance with a decline in the fairvalue of pension assets.
(4) Supply/demand balance for products and procurement conditions for materials and components
A decline in prices and shipments due to changes in the supply/demand balance, as well as an increase inmaterial prices due to a worsening of material and component procurement conditions, may adversely
affect the Group’s performance.
(5) Fund raising
An increase in interest rates, the yen interest rate in particular, would increase the Group’s interest
expenses.
(6) Significant patent matters
Important patent filings, licensing, copyrights and patent-related disputes may adversely affect related
businesses.

15/18

(7) Environmental legislation or relevant issues
The Group may incur losses or expenses owing to changes in environmental legislation or the occurrenceof environmental issues. Such changes in legislation or the occurrence of environmental issues may also
impact manufacturing and all corporate activities of the Group.
(8) Flaws or defects in products or services
The Group may incur losses or expenses resulting out of flaws or defects in products or services, and thelowered reputation of the quality of all our products and services may affect the entire Group.
(9) Litigation and other legal proceedings
The Group’s operations may be affected by lawsuits or other legal proceedings against Mitsubishi Electric,
its subsidiaries and/or equity-method affiliated companies.
(10) Disruptive changes
Disruptive changes in technology, development of products using new technology, timing of production
and market introduction may adversely affect the Group’s performance.
(11) Business restructuring
The Group may record losses due to restructuring measures.
(12) Information security
The performance of the Group may be affected by computer virus infections, unauthorized access andother unpredictable incidents that lead to the loss or leakage of personal information held by the Groupor confidential information regarding the Group’s business such as its technology, sales and otheroperations.
(13) Natural disasters
The Group’s operations, particularly manufacturing activities, may be affected by the occurrence ofearthquakes, typhoons, tsunami, fires and other large-scale disasters.
(14) Other significant factors
The Group’s operations may be affected by the outbreak of social or political upheaval due to terrorism,
war, pandemic by new strains of influenza and other diseases, or other factors.
###
About Mitsubishi Electric Corporation
With over 90 years of experience in providing reliable, high-quality products, Mitsubishi Electric
Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales ofelectrical and electronic equipment used in information processing and communications, space development
and satellite communications, consumer electronics, industrial technology, energy, transportation andbuilding equipment. Embracing the spirit of its corporate statement, Changes for the Better, and its
environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company,
enriching society with technology. The company recorded consolidated group sales of 4,054.3 billion yen(US$ 39.3 billion*) in the fiscal year ended March 31, 2014. For more information visit
http://www.MitsubishiElectric.com*At an exchange rate of 103 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on
March 31, 201416/18

【Supplementary Materials】
February 2, 2015
Mitsubishi Electric Corporation

Fiscal 2015 Third Quarter Results

1. Financial Results (Consolidated)
2. Net Sales by Segment (Consolidated)
3. Operating Income by Segment (Consolidated)
4. Overseas Net Sales by Segment (Consolidated)
5. Foreign Exchange Rates for Recording Net Sales andImpact of Exchange Rate Fluctuations on Net Sales17

17/18

FY ’14: Apr. 1, 2013 – Mar. 31, 2014
FY ’15: Apr. 1, 2014 – Mar. 31, 2015

1. Financial Results (Consolidated)(Billions of yen, year-on-year %)FY ’15

FY ’14

Net sales
Operating income
Income before income taxes

Q3
9 months
Q3
Full Year
1st Half
9 months
Full Year(Actual)(Forecast)(Actual)(Actual)(Actual)(Actual)(Actual)915.3 (113) 2,727.2 (109) 4,054.3 (114) 1,972.8 (109) 1,010.4 (110) 2,983.2 (109) 4,240.0 (105)63.4 (269)143.1 (126)235.1 (155)
121.3 (152)79.9 (126)201.3 (141)290.0 (123)

1st Half(Actual)1,811.8 (107)
79.7
(89)
83.4

(115)

72.3

(－)

155.7

(605)

248.9

(382)

Net income attributable to48.3 (111)46.5 (843)
94.8 (193)
153.4 (221)
Mitsubishi Electric Corp.
Figures in parentheses in the right column indicate change from the previous corresponding period

145.9

(175)

74.7

(103)

220.6

(142)

290.0

(116)

97.8

(202)

47.7

(103)

145.6

(153)

200.0

(130)

2. Net Sales by Segment (Consolidated)(Billions of yen, year-on-year %)FY ’15

FY ’14

Energy and Electric Systems
Industrial Automation Systems
Information and Communication Systems

Electronic Devices
Home Appliances
OthersSubtotal
Eliminations
Total

1st Half(Actual)477.2 (104)506.3 (111)242.5 (100)90.5 (113)460.0 (109)
307.5 (108)2,084.2 (107)-272.3
1,811.8 (107)Q3
9 months(Actual)(Actual)258.7 (119)735.9 (109)271.9 (120)778.3 (114)112.6 (97)
355.1
(99)
44.4 (111)135.0 (113)207.0 (108)667.0 (108)165.4 (118)472.9 (111)1,060.2 (114) 3,144.5 (109)-144.8-417.2915.3 (113) 2,727.2 (109)

Q3
Full Year
1st Half(Actual)(Actual)(Actual)1,180.0 (112)502.1 (105)277.5 (107)1,098.7 (118)609.3 (120)323.2 (119)548.2 (105)248.5 (102)126.9 (113)194.6 (119)106.5 (118)55.0 (124)944.3 (115)477.1 (104)212.5 (103)676.0 (115)351.2 (114)183.6 (111)4,642.2 (114) 2,294.8 (110) 1,179.0 (111)-587.8-322.0-168.6
4,054.3 (114) 1,972.8 (109) 1,010.4 (110)9 months(Actual)779.7 (106)932.5 (120)375.4 (106)161.6 (120)689.6 (103)534.9 (113)3,473.9 (110)-490.62,983.2 (109)

Full Year(Forecast)
1,170.0(99)
1,250.0 (114)550.0 (100)260.0 (134)
930.0
(98)
720.0 (107)4,880.0 (105)-640.04,240.0 (105)

3. Operating Income by Segment (Consolidated)(Billions of yen, year-on-year %)FY ’15

FY ’14

Energy and Electric Systems
Industrial Automation Systems
Information and Communication Systems

Electronic Devices
Home Appliances
OthersSubtotal
Eliminations and other
Total

Q3
(Actual)24.9 (170)32.4 (197)
0.1
(16)
3.2
(－)
7.2 (553)
4.8 (161)
72.8 (209)-9.4
63.4 (269)

1st Half(Actual)18.3 (54)38.9 (115)
3.1 (32)
4.5 (－)
23.1 (138)
5.1 (70)
93.3 (93)-13.5
79.7 (89)9 months(Actual)43.3(88)71.3 (142)
3.3
(31)
7.7
(－)
30.4 (168)
10.0
(96)
166.1 (123)-23.0
143.1 (126)

Full Year(Actual)76.3(90)98.0 (162)
5.5 (348)
10.0(－)
52.8 (274)19.8 (105)262.6 (146)-27.4
235.1 (155)

1st Half(Actual)12.5 (68)66.2 (170)
5.3 (170)
7.7 (172)35.2 (152)
8.2 (160)
135.3 (145)-13.9
121.3 (152)

Q3(Actual)20.0 (80)41.9 (129)
7.6 (46times)
8.2 (253)
5.9 (82)
5.7 (117)89.5 (123)-9.5
79.9 (126)

9 months(Actual)32.5(75)
108.2 (152)12.9 (393)
15.9 (206)41.1 (135)13.9 (139)224.9 (135)-23.5
201.3 (141)

Full Year(Forecast)
64.0
(84)
144.0 (147)
16.0 (289)21.0 (209)
52.0
(98)
20.0 (101)317.0 (121)-27.0
290.0 (123)

4. Overseas Net Sales by Segment (Consolidated)(Billions of yen, year-on-year %)FY ’15

FY ’14

Energy and Electric Systems
Industrial Automation Systems
Information and Communication Systems

Electronic Devices
Home Appliances
OthersConsolidated total
Ratio of overseas net sales tototal sales

1st Half(Actual)177.3 (125)272.3 (121)7.4(56)
46.3 (130)217.2 (124)7.6(95)
728.3 (122)Q3(Actual)93.3 (132)134.1 (119)3.1(55)
23.1 (133)97.8 (120)
4.0 (110)355.7 (122)

40%

39%

9 months
Full Year(Actual)(Actual)270.7 (127)386.5 (128)406.5 (121)587.2 (125)10.5 (56)32.9 (126)69.5 (131)102.0 (138)315.0 (123)447.7 (130)11.6 (100)17.4 (111)1,084.1 (122) 1,573.9 (128)40%

1st Half(Actual)199.3 (112)342.7 (126)6.2(84)
50.3 (109)243.8 (112)9.7 (128)852.2 (117)39%Q3
9 months(Actual)(Actual)119.2 (128)318.6 (118)186.4 (139)529.2 (130)
4.6 (146)
10.8 (102)25.8 (111)76.1 (109)107.1 (110)351.0 (111)
4.2 (104)13.9 (120)447.5 (126) 1,299.8 (120)

43%

44%

Full Year(Forecast)44%

5. Foreign Exchange Rates for Recording Net Sales and Impact of Exchange Rate Fluctuations on Net Sales

Exchange rates for recording
net sales

US$
Euro
Consolidated

Impact of exchange rate
fluctuations on net sales

US$
Euro

1st Half(Actual)¥98¥128
About ￥143.0
billion increasein salesAbout ￥46.0
billion increase

FY ’14
Q3(Actual)¥100¥136
About ￥72.0
billion increasein salesAbout ￥24.0
billion increase

Full Year(Actual)¥100¥134
About ￥256.0
billion increasein salesAbout ￥83.0
billion increase

1st Half(Actual)¥103¥139
About ￥40.0
billion increasein salesAbout ￥10.0
billion increase

FY ’15
Q3(Actual)¥113¥142
About ￥39.0
billion increasein salesAbout ￥17.0
billion increase

About ￥37.0
billion increase

About ￥17.0
billion increase

About ￥56.0
billion increase

About ￥9.0
billion increase

About ￥2.0
billion increase

18 / 18

Q4(Forecast)¥100¥130