• Staff report

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Mitsubishi Electric Corp. said Monday that it expects to report a group net profit of 2 billion yen in the fiscal first half.

The firm cited stronger-than-expected capital expenditure by domestic companies and those in other Asian countries.

Mitsubishi Electric, which posted a group net profit of 6.7 billion yen a year earlier, had originally expected to break even during the six-month period through September.

The company said that sales of home appliances are likely to undershoot the initial forecast, with the cool summer having depressed sales of air conditioners.

But strong capital investment by domestic firms and those in other Asian nations, mainly automakers and semiconductor manufacturers, drove up sales of industrial machines and telecommunications systems.

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