MHI increases operating profit in fiscal Q1 2019 results

Mitsubishi Heavy Industries’ (MHI) has revealed operating profit for its aircraft, defence and space unit has increased to Y9.4 billion (approximately year $89.1 million) for the first quarter of its 2019 fiscal year. The increase in operating profit was said to be due to a reduction in investment costs for the MRJ regional jet, now known as the ‘SpaceJet’. This is a stark increase compared to when the unit posted an operating loss of Y11.6 billion. Meanwhile, its revenue rose slightly by 1% to Y152 billion for the first quarter, ending 30 June. The firm announced that the value of