MBC Mitsub.Corp

TIDMMBC

RNS Number : 7257J

Mitsubishi Corporation

09 April 2015

April 9, 2015

(Translation of report filed with the Tokyo Stock Exchange on April 9, 2015)

Update on Differences between Non-Consolidated Actual Results for Fiscal Year Ended February 28, 2014 and Fiscal Year Ended February 28, 2015 for MC Subsidiary Yonekyu Corporation

Mitsubishi Corporation (MC) today announced that consolidated subsidiary Yonekyu Corporation (MC shareholdings: 62.54% on a voting right basis) has provided information regarding differences between the non-consolidated actual results for the fiscal year ended February 28, 2014 and fiscal year ended February 28, 2015.

1. Differences between Non-Consolidated Actual Results for fiscal year ended February 28, 2014 and fiscal year ended February 28, 2015.

( for period beginning on March 1, 2014 and ending on February 28, 2015)

 
                      Operation       Ordinary       Net Income 
                        Income          Income 
-----------------  --------------  --------------  -------------- 
 Actual Results       277 million     597 million     304 million 
  for the fiscal              yen             yen             yen 
  year ended 
  February 
  28, 2013 
  A 
-----------------  --------------  --------------  -------------- 
 Actual Results     2,277 million   2,678 million   1,623 million 
  for the fiscal              yen             yen             yen 
  year ended 
  February 
  28, 2014 
  B 
-----------------  --------------  --------------  -------------- 
 Difference         1,999 million   2,081 million   1,318 million 
  B-A                         yen             yen             yen 
-----------------  --------------  --------------  -------------- 
 Difference                719.5%          348.6%          433.0% 
-----------------  --------------  --------------  -------------- 
 

2. Reasons for the Differences

MC subsidiary Yonekyu Corporation's increase in operating income over the previous year are due mainly to the strengthening of management operations and campaigns executed in commemoration of the company's 60(th) anniversary that led to an increase in sales, as well as the result of efforts to improve earning power including increased productivity, improved efficiency in distribution, and strengthened risk management capacities. In addition, the market for edible meat shifted towards higher prices over the year, and all of these factors contributed to the large margin of increase in final sales and profit figures when compared to those of last year.

   3.     Business Outlook 

The current transaction is expected to have negligible impact on MC's consolidated performance.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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