TOKYO -- Japan's Mitsubishi Heavy Industries on Tuesday announced that it expects group net profit to increase 8% for the fiscal year ending March to 240 billion yen ($1.5 billion), on a strong performance in the energy and defense sectors.
The figure represents a 10 billion yen upgrade from its previous forecast but falls about 10% short of the QUICK Consensus average market estimate. Mitsubishi Heavy shares fell as much as 2% following the announcement, before ending the day down 1% at 2,217.50 yen.
