Trading house Mitsubishi Corp. said Thursday it posted a group net profit of 28.69 billion yen in the April-June quarter, achieving 95.6 percent of its first half-year target and 35.9 percent of the full-year projection for the business year to March.

The net profit stemmed largely from dividends and capital gains on stock portfolios. It was the first time Mitsubishi announced earnings posted in its first quarter.

But the projected net profit of 30 billion yen for the first six months was down from 75.92 billion yen posted a year earlier.