On February 3rd, Mitsubishi Motors Corporation (MMC) reported its consolidated financial results for the first nine months (April-December) of the 2014 fiscal year that ends March 31st, 2015. Mitsubishi Motors Corporation reported an increase of 5% year-on-year to 100.8 billion yen because of cost reduction and favorable foreign exchange rates, a record high for the same period.
The global retail sales volume increased 4% to 806,000 units. The sluggish sales in Thailand were compensated by the sales in China, Europe and America. The net income reported was also record high, up 12% year-on-year to 98.6 billion yen. Because of the weak yen, the effect of the operating leverage amounted to 19.5 billion yen.
MMC trimmed its full-year global sales forecast by 22,000 units, up only 2% year-on-year to 1.067 million units. However, the record high operating income forecast of 135 billion yen (up 9% year-on-year) remains the same. Managing Director Yutaka Tabata talked about the Thai market, “There is a prolonged downturn in demand due to low agricultural product prices. With the direction of the government’s economic policies, we expect sales recovery to begin in the latter half of 2015.”
(Translated by Katherine N. Bantiles)