Mitsubishi Logisnext profit plunges 77% in Q1

Mitsubishi Logisnext reported profit attributable to owners of parent plunged 77.3% to 1,763 million yen for the three months ended June 30, primarily due to lower profit in the Americas and a gain on asset sales in the prior year.

Net sales fell 3.7% to 159,673 million yen, while operating profit declined 12.1% to 6,157 million yen. The company has revised its full-year financial forecasts.