Tokyo, Japan (July 25, 2017) - Mitsubishi Motors Corporation (MMC) today announced financial results for the three months to June 30, 2017.
[ Consolidated Summary (PDF: 1pages 23.4KB) ]
[ Financial Statements (PDF: 10pages 110KB) ]
[ Presentation (PDF: 31pages 1.9MB) ]
[ Additional Information Material (PDF: 2pages 96.8KB) ]
[ Financial Statements (PDF: 10pages 110KB) ]
[ Presentation (PDF: 31pages 1.9MB) ]
[ Additional Information Material (PDF: 2pages 96.8KB) ]
The company reported an operating profit of 20.6 billion yen on revenues up 2.8% at 440.9 billion yen for the first quarter of fiscal 2017, representing an operating margin of 4.7%. Net income reached 23.0 billion yen, reversing prior year losses of 129.7 billion yen.
Global sales reached 241,000 units, up 9.0% versus same period of the previous year. The sales increase reflected the resumption of kei car sales in Japan, which were suspended in the prior-year quarter after the fuel economy issue, as well as strong growth in China following the launch of locally-produced Outlander SUVs. Sales also increased in the ASEAN region, led by demand for SUVs and pick-up trucks.
Osamu Masuko, Chief Executive Officer, said: "Fiscal year 2017 is off to a solid start. We are seeing the benefits of increased operational rigor and efficiency, along with encouraging sales in key markets.
"Our V-shaped recovery is continuing, paving the way for sustainable growth. Synergies from the Nissan Alliance are also on track, making a further contribution to the company's overall performance."
Based on the company's first quarter results, MMC has reaffirmed the full year financial forecast for fiscal 2017, which was submitted to the Tokyo Stock Exchange this May.
About Mitsubishi Motors Corporation (MMC)
MMC is a Japanese automobile company which has a competitive edge in light trucks (pick-up trucks and SUVs) and in the ASEAN region. The company launched the first mass-produced electric vehicle in 2009, which was followed with a plug-in hybrid EV-based crossover in 2013. MMC, which has 30,000 employees, has a global footprint and has production facilities in Japan, Thailand, China, Indonesia, The Philippines and Russia. Models such as the Pajero Sport, Triton and Outlander play a major role in achieving its growth. Global sales volume in fiscal year 2016 was 926,000 units. MMC's net sales for fiscal year 2016 were 1.9 trillion yen. MMC is listed on the Tokyo Stock. Exchange.
Note on forward-looking statements
All statements herein, other than historical facts, contain forward-looking statements and are based on Mitsubishi Motors Corporation's current forecasts, expectations, targets, plans, and evaluations. Any forecasted value is calculated or obtained based on certain assumptions. Forward-looking statements involve inherent risks and uncertainties.
A number of significant factors could therefore cause actual results to differ from those contained in any forward-looking statement. Significant risk factors include:
Potential risks and uncertainties are not limited to the above and Mitsubishi Motors Corporation is not under any obligation to update the information in this news release to reflect any developments or events in the future.
If you are interested in investing in Mitsubishi Motors Corporation, you are requested to make a final investment decision at your own risk, taking the foregoing into consideration. Please note that neither Mitsubishi Motors Corporation nor any third party providing information shall be responsible for any damage you may suffer due to investment in Mitsubishi Motors Corporation based on the information shown in this news release.
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