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Mitsubishi unit eyes ¥4 trillion in sales in 2014

Kyodo

Mitsubishi Electric Corp. aims to boost its group sales to ¥4 trillion in the business year ending in March 2015, from projected sales of ¥3.81 trillion in fiscal 2013 by expanding key operations, including elevator production and sales overseas, the firm’s president said Monday.

Kenichiro Yamanishi repeated the electrical machinery manufacturer’s goal of raising its overseas sales ratio to 40 percent in fiscal 2015 from 35 percent in the business year ended in March, by focusing on Asia and other emerging markets.

“Though I had previously said we will achieve sales of ¥4 trillion in fiscal 2013, we are falling slightly short under our current plan,” Yamanishi said in Tokyo. “Even if we cannot achieve the figure in fiscal 2013, we’d like to attain the goal in fiscal 2014.”

To promote growth, the company will pursue global expansion, including by building social infrastructure systems, such as railways, he said. It also aims to enhance its mainstay factory automation and auto equipment operations, Yamanishi said.

In Asia, Mitsubishi Electric has been strengthening business in China and India by boosting output capacity and sales networks. It is also increasing output for air conditioning systems in Thailand, a global production base for the company.