Streetbeat News

MIELY

Mitsubishi Electric Corporation

https://www.mitsubishielectric.co.jp/

Open

38.51

Mkt cap

40B

Volume

5.3K

High

38.99

P/E Ratio

17.29

52-wk high

38.99

Low

38.45

Div yield

0.02

52-wk low

25.27

Mitsubishi Electric's subsidiaries have acquired French air conditioning manufacturer AIRCALO, aiming to strengthen and expand its hydronic HVAC systems business in Europe. The acquisition will allow Mitsubishi Electric to leverage AIRCALO's extensive product line and customization capabilities, catering to the growing demand for made-to-order products and environmental sustainability in the European market. Terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:28 am

Mitsubishi Electric Corporation has partnered with Nozomi Networks Inc to enhance operational technology (OT) security solutions. This partnership includes joint marketing and technical development efforts. Additionally, Mitsubishi Electric has acquired an equity stake in Nozomi Networks.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:41 am

Mitsubishi Electric has signed an agreement with Dispel to enhance its operational technology security business by integrating its factory-automation equipment and OT security solutions with Dispel's secure remote-access technology. This collaboration aims to provide a Zero Trust Remote Access Service for manufacturing facilities, facilitating digital manufacturing and strengthening Mitsubishi Electric's Circular Digital-Engineering business.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:36 am

Mitsubishi Electric reaffirms its FY24 outlook, projecting a 4% year-on-year increase in revenue to ¥5.20T, a 26% increase in operating profit to ¥330B, a 22% increase in profit before income taxes to ¥355B, and a 22% increase in net profit attributable to stockholders to ¥260B.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 7:13 am

Mitsubishi Electric reported a 1% YoY increase in 3Q24 revenue to ¥1.243T and a 2% YoY increase in net profit to ¥65.8B, achieving record highs in revenue and operating profit. The automotive equipment business saw significant improvement, offsetting market fluctuations in other sectors.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 7:06 am

Mitsubishi Electric has announced a strategic partnership and investment in ModuleWorks, a software developer. This move aims to enhance Mitsubishi Electric's software capabilities for its computerized numerical control (CNC) systems. The partnership is expected to accelerate the development of advanced CNC solutions, benefiting customers in the manufacturing industry with improved efficiency and productivity. The financial terms of the investment were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 6:46 am

Mitsubishi Electric reported a 4% YoY increase in 2Q24 revenue to 1.318T yen. The net profit attributable to stockholders was up 51% YoY to 62.3B yen. Operating profit and profit before income taxes also saw significant increases of 61% and 47% respectively.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:07 am

Mitsubishi Electric has reaffirmed its fiscal 2024 outlook, projecting a revenue of 5.20 trillion yen and a net profit of 260 billion yen. This represents a 4% increase in revenue and a 22% increase in net profit year-on-year.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 7:29 am

Mitsubishi Electric (OTC:MIELY) reported Q1 earnings of $0.40 per share, a 66.25% increase YoY. The company also reported $8.89 billion in sales, a 7.84% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 7:15 am

President Joe Biden has issued a 'Hazard Alert' to protect workers from the ongoing heatwave in the U.S. and pledged to invest in combating the impact of extreme weather events. The air conditioning market is expected to grow significantly due to the increasing demand caused by climate change. U.S.-based companies Carrier Global Corp, Whirlpool Corporation, and Emerson Electric Co are seeing positive trends, while non-U.S.-based companies like Electrolux AB, Hitachi Ltd, Mitsubishi Electric ADR, and Toshiba Corp are also experiencing favorable pricing trends.

Portfolio Pulse from AJ Fabino

July 27, 2023 | 6:05 pm

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