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Tokyo, April 27, 2011
Mitsubishi Motors Corporation Announces Fiscal Year 2010 Full-year Results
Tokyo, April 27, 2011 - Mitsubishi Motors Corporation today announced its full-year sales and financial results for the 2010 fiscal year ending March 31, 2011.
 
Fiscal year 2010 full-year results
 
 
1. Performance overview
 
Mitsubishi Motors posted a consolidated net sales of 1 trillion 828.5 billion yen for fiscal year 2010, a 26 percent or 382.9 billion yen increase over the previous fiscal year. This increase was driven by a higher unit sales volume resulting mainly from market growth in emerging markets and from the introduction of new models.
 
Mitsubishi Motors posted an operating profit of 40.3 billion yen, a 189 percent or 26.4 billion yen increase over the last fiscal year. The increase in unit sales volume together with factors such as reductions in material and other costs more than offset the negative impact of the strong yen.
 
Mitsubishi Motors posted an ordinary profit of 38.9 billion yen, a 200 percent or 25.9 billion yen increase, and a net profit of 15.6 billion yen, a 228 percent or 10.8 billion yen increase over the previous fiscal year.
 
2. Sales volume
 
Global retail sales volume in fiscal year 2010 totaled 1,105,000 vehicles, an increase of 15 percent or 145,000 units over fiscal year 2009. Sales volumes by region were as follows:
 
In Japan, Mitsubishi Motors posted a sales volume of 164,000 vehicles in fiscal year 2010, a decrease of four percent or 7,000 units over the last fiscal year. Factors contributing to this fall in sales volume include the drop in demand following the ending of eco-car subsidies in September 2010 coupled with some effects from the Great East Japan Earthquake.
 
In North America, Mitsubishi Motors posted a sales volume of 94,000 vehicles, an increase of seven percent or 6,000 units over the previous fiscal year. Slow sales in Canada and Mexico were offset by higher sales in the United States, where overall demand showed signs of recovery, along with a boost from the launch of the Outlander Sport (RVR in Japan) in October.
 
In Europe, Mitsubishi Motors posted a sales volume of 218,000 vehicles, an increase of 29 percent or 49,000 units over fiscal year 2009. Factors driving the increase included strong sales of the ASX (RVR in Japan), launched in June 2010, and higher sales in Russia where local production of the Outlander was begun.
 
In Asia & Other Regions, Mitsubishi Motors posted a sales volume of 629,000 vehicles, an increase of 18 percent or 97,000 units over the previous fiscal year. The rise in volume was driven by the continuing growth in overall demand in China, together with significantly increased sales in major ASEAN bloc countries including Thailand, Indonesia, Malaysia, and the Philippines as well as in Brazil, the largest market in Latin America, among others.
 
Fiscal year 2011 forecasts
 
Mitsubishi Motors is unable to provide forecasts for fiscal year 2011 at the present time. This is due to the extreme difficulty in producing rational forecasts at the current time due to uncertainties stemming from external factors that affect Mitsubishi Motors' production which include determining how long it will take earthquake-affected parts and component suppliers to return to a stable production basis. Mitsubishi Motors will publish its fiscal year 2011 forecasts as soon as it becomes possible to do so.
 

Note on forward-looking statements
All statements herein, other than historical facts, contain forward-looking statements and are based on MMC'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:

• Feasibility of each target and initiative as laid out in this news release;
• Fluctuations in interest rates, exchange rates and oil prices;
• Changes in laws, regulations and government policies; and
• Regional and/or global socioeconomic changes.

Potential risks and uncertainties are not limited to the above and MMC 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, you are requested to make a final investment decision at your own risk, taking the foregoing into consideration. Please note that neither Mitsubishi Motors nor any third party providing information shall be responsible for any damage you may suffer due to investment in Mitsubishi Motors based on the information shown in this news release.

 

 

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