Mitsubishi Electric Corp. (MIELY,MIELF,6503.T), an electrical and electronic equipment maker, on Friday raised fiscal 2027 outlook, after reporting higher profit and revenues in its first quarter.

In Tokyo, Mitsubishi Electric shares gained 211.17 percent to closed Friday's trading at 5,912.00 yen.

Looking ahead for fiscal 2027, Mitsubishi Electric now projects attributable net profit of 495 billion yen or 241.87 per basic share, up 21.4 percent year-over-year; adjusted operating profit of 620 billion yen, a growth of 23.7 percent from last year, and revenues of 6.27 trillion yen, up 6.4 percent year-over-year.

Previously, the company projected net profit attributable at 475 billion yen, 17 percent higher than the prior year, and adjusted operating profit of 590.0 billion yen, up 18 percent year-on-year. Revenues were expected to be 6.20 trillion yen, up 5 percent year-on-year.

In the first quarter, net profit attributable to stockholders climbed 20.8 percent to 109.82 billion Japanese yen from last year's 90.93 billion yen. Earnings per share climbed to 53.66 yen from 43.89 yen last year.

Operating profit grew 24.6 percent year-over-year to 139.50 billion yen.

Revenue for the quarter increased 14 percent to 1.50 trillion yen from 1.31 trillion yen a year earlier.

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