Mitsubishi posts its first fiscal half operating loss of JPY32.5bn
By Andrew C., 30 Aug, 2010. 0 Comments
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Mitsubishi Motors' operating loss for the first fiscal half amounted to JPY32.5bn, about JPY57.9bn lower from a year ago. Mitsubishi explained that a drop in sales volume and the strong yen overcame cost cuts. The net loss of JPY36..4bn yen was down JPY49.2bn on last year's net profit. Sales fell 53% to JPY573bn. MMC indicated that the H1 results were mostly in line with the forecasts that were announced on April 27. With no regions recording increases, global retail sales volume fell 26% to 445,000 units. MMC left its earlier full year forecast -- sales volume of 932,000 units, net sales of JPY1.5 trillion, operating profit of JPY30bn yen and net profit of JPY5bn -- unchanged.
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