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Revision of Business Result & Dividend Forecasts for Term Ending March 1998

Date: March 11, 1998


Mitsubishi Motors' business performance for the term ending March 1998 is expected to fall well short of the forecasts announced in November 1997. Reasons for this include the decline in domestic market sales of passenger cars, trucks and buses caused by the worse-than-expected economic slump and slack personal spending in Japan since November 1997, and the sharp falls in sales and profits in overseas markets brought about by the economic disruption experienced in the countries of ASEAN and triggered by the recent currency crises in S.E. Asia. As a result, Mitsubishi Motors has revised its forecasts for the 1997 fiscal year (April 1 1997 through March 31 1998) as shown below.

Following this latest revision of the business result forecast, the company deeply regrets that it must announce that it has no plans to pay the year-end dividend, originally forecast at 3.50 yen, for the term ending March 1998.

The company and the member companies of the Mitsubishi Motors Corporation group will endeavor harder than ever to radically improve their management structures and to that end will focus all resources on achieving an early recovery in business performance and on strengthening their financial structures.

Revision of non-consolidated and consolidated results forecasts.

(1)Latest revision, announced 10 March 1998

(100 million yen)

Sales

Ordinary Profit

Net Income

Non-consolidated

25,000

-230

-280

Consolidated

37,000

-600

-1,100

(2) Previous revision, announced 6 November 1997

(100 million yen)

Sales

Ordinary Profit

Net Income

Non-consolidated

26,000

350

180

Consolidated

39,000

150

-400

(3)Results for fiscal 1996 (April 1 1996 to March 31 1997)

(100 million yen)

Sales

Ordinary Profit

Net Income

Non-consolidated

25,859

580

151

Consolidated

36,721

95

116

Non-consolidated Results Forecast

Nov. 1997 Forecast

Mar. 1998 Forecast

Change

1996FY

Results

1st half
Results

2nd half Forecast

1997FY
Forecast

2nd half
Forecast

1997FY
Forecast

Sales Volume (1,000 units)
Passenger cars
(domestic market)


260


323


583


256


516


-67


649

Trucks & buses
(domestic market)

55

47

102

39

94

-8

123

Exports

314

261

575

286

600

25

481

TOTAL

629

631

1,260

581

1,210

-50

1,253

Parts for overseas
production

418

402

820

362

780

-40

781

(100 million yen)

Net sales

13,195

12,805

26,000

11,805

25,000

-1,000

25,859

Operating income

202

258

460

-352

-150

-610

571

Ordinary income

175

175

350

-405

-230

-580

580

Net income

86

94

180

-366

-280

-460

151

Consolidated Results Forecast

1997FY Forecast

1996FY

Results

Nov 1997

Mar 1998

Change

(Unit: 100 million yen)

Net sales

39,000

37,000

-2,000

36,721

Operating income

630

0

-630

457

Ordinary income

150

-600

-750

95

Net income

-400

-1,100

-700

116

[Briefing Given By Katsuhiro Kawasoe,President of Mitsubishi Motors Corporation]

[Corporate Structural Reforms]


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