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The Japanese conglomerate, which has businesses ranging from automotive to energy to electronics, saw global revenues skid 6.4% and profits fall 7.6%. The company said its profits took a hit primarily due to issues with its carmaking division, its liquified natural gas business, and its petrochemical operations. Mitsubishi also said its mining business was impacted by a slump in demand for Australian metallurgical coal, but that this was offset by a rebound in its Chilean copper mining business. The Covid-19 pandemic, meanwhile, made predicting the quarters ahead too difficult. Like many of its peers, it has declined to provide forecasts for the coming year.
Sergei Bobylev—TASS/Getty Images
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