Mitsubishi Heavy Industries declined 4% to 843 yen after reporting first quarter earnings of 17 billion yen from 9.2 billion yen a year ago. The net sales in the first quarter increased to 685 billion yen, up 17.1% from 585.5 billion yen. The net income and earnings per share jumped 83.6%. For the fiscal year 2007 ending in March 2008 company guided revenue of 3.1 trillion and net income of 54 billion.
Nippon Steel, Sumitomo Metals, JFE Holdings said that the companies are investigated for a possible price fixing violations. |