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Tokyo, February 05, 2014
Mitsubishi Motors Corporation Announces Third Quarter Fiscal 2013 Operating Results
Tokyo, February 5, 2014 - Mitsubishi Motors Corporation (MMC) today announced its sales and financial results for the first nine months of the 2013 fiscal year (FY2013 3Q) ending March 31, 2014.
 
 
1. Performance overview
MMC posted a consolidated net sales of 1,518.7 billion yen for the first nine months of fiscal 2013 (April 1 through December 31, 2013), an 18% or 236.1 billion yen increase over the same period last fiscal year.
 
MMC posted an operating income of 96.3 billion yen, an increase of 135% or 55.4 billion yen over the same period last fiscal year. Negative factors such as decreased sales volume in Thailand and increases in sales expenses due to intensified competition in Australia, other ASEAN countries, and North America were overcome by steadily progressing reductions in material and other costs in addition to favorable foreign exchange rates.
 
Factors including foreign exchange gains contributed to an ordinary income of 116.4 billion yen, an increase of 122% or 64.0 billion yen over the first nine months of FY2012. Net income for the term came to 88.4 billion yen, an increase of 410% or 71.1 billion yen year-on-year.
 
Thus MMC has posted year-on-year increases in all profit indicators (operating income, ordinary income, net income). In addition the FY2013 3Q profits are the highest ever recorded for the first nine months of a fiscal year.
 
2. Sales volume (Retail)
Global retail sales volume for the first nine months of fiscal year 2013 totaled 776,000 units, a 7% or 52,000-unit increase over the same period last fiscal year. Sales volumes by region were as follows:
 
Japan: Sales volume totaled 97,000 units for the term, a 5% or 5,000-unit increase year-on-year. Despite a year-on-year downturn in registered vehicles, continuing brisk sales of the June-released all-new eK Wagon and eK Custom minicars contributed to the increase.
 
North America: Sales volume amounted to 70,000 units for the term, a 12% or 8,000-unit increase year-on-year. In the United States, increased sales of the Outlander Sport (RVR or ASX in some markets) core model in addition to the new Outlander introduced in June along with full-release of the Mirage (Space Star in some markets) in October contributed to the increase.
 
Europe: Sales volume totaled 149,000 units, a 10% or 14,000-unit increase year-on-year. The region's year-on-year sales were boosted by factors including positive effects of the introduction of the all-new Outlander PHEV in western Europe and the September start of production of the Pajero Sport (Montero Sport or Nativa in some markets) in Russia.
 
Asia & Other Regions: Sales volume came to 460,000 units, a 6% or 25,000-unit increase year-on-year. A drop in sales in Thailand, affected by factors such as the end of the government's "first-car buyer" program was overcome by an upturn in sales of the locally-produced ASX and Pajero Sport in China and other factors such as brisk sales in other markets in the region.
 
3. Fiscal 2013 full-year forecasts
Mitsubishi Motors has decided to leave its full-year operating results forecast announced on December 20, 2013 unchanged. MMC forecasts a full-year sales volume of 1,065,000 units.
 
Outline of full-year FY2013 forecasts:
 
  • Net sales:
  • Operating income:
  • Ordinary income:
  • Net income:
  • Sales volume:

2,110.0 billion yen

120.0 billion yen

120.0 billion yen

100.0 billion yen

1,065,000 units

 

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:

  • 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 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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