Mitsubishi Announces Increasing Profits
Posted on July 30, 2010 by Shay Greenberg for Luckyroom.com
More than doubled profits were announced for the first quarter of the fiscal year by Japan Based Mitsubishi after the increasing price of mining coal coming from strong demand from China and India. The company’s net profit rose to 140.4 billion yen 1.63 billion dollars in the quarter ending June 30th from 67.8 billion Yen recorded during the same period in 2009. Revenue rose 19.2 % to 4.73 trillion Yen. The management of Mitsubishi keeps its forecast for annual profit by 370 billion Yen in the year ending March 2011 revenue of 18.8 trillion Yen. The company plans to spend up to 2.5 trillion Yen over the next three years in the fields of metals, energy and infrastructure to take advantage of strong demand from China , India and Brazil.
