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Tokyo, February 04, 2009
Revision to Results Forecast for FY2008

Mitsubishi Motors Corporation has revised its consolidated forecast for fiscal 2008 (April 1, 2008 to March 31, 2009) from the previous forecast announced on October 30, 2008.

1. Revision of Consolidated Forecasts for Fiscal Year 2008 (April 1, 2008 to March 31, 2009)
( millions of yen)
  Net
sales
Operating
income
Ordinary
income
Net
income
Previous forecast (A) 2,360,000 50,000 43,000 20,000
Revised forecast (B) 2,010,000 5,000 (20,000) (60,000)
Change in amount (B-A) (350,000) (45,000) (63,000) (80,000)
Change as percentage (14.80%) (90.00%) - -
(For reference only)
Results for the last fiscal year ending March 2008
2,682,103 108,596 85,731 34,710

 

2. Reasons for the revision

 

Net sales, operating income, ordinary income, and net income for fiscal 2008 are expected to fall below the company's previous forecast announced on October 30, 2008 due mainly to plummeting unit sales stemming from the economic downturn and the stronger yen exchange rate.

In addition to the aforementioned reasons, net income includes costs expected to be incurred in reevaluating the company's production facilities in light of falling production volumes, as well as costs expected to be incurred in streamlining functions and reassessing staff levels in line with sales volume.

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