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Tokyo, April 24, 2014
Mitsubishi Motors Corporation Announces Full-year Fiscal 2013 Operating Results and Fiscal 2014 Forecasts
Tokyo, April 24, 2014 - Mitsubishi Motors Corporation (MMC) today announced its sales and financial results for the full 2013 fiscal year (FY2013) ending March 31, 2014, as well as forecasts for the full 2014 fiscal year (FY2014).
1. Full-year fiscal 2013 operating results
1. Performance overview
MMC posted a consolidated net sales of 2,093.4 billion yen over the full term of FY2013 (April 1 through March 31, 2014), a 15% or 278.3 billion yen increase over the same period last fiscal year.
MMC posted an operating income of 123.4 billion yen, an increase of 83% or 56.0 billion yen over the same period last fiscal year. Although sales and R&D expenses increased, these were overcome by steadily progressing reductions in material and other costs in addition to favorable foreign exchange rates.
Other items include ordinary income at 129.5 billion yen, a 38% or 35.6 billion yen increase, and a net income of 104.7 billion yen, a 176% or 66.7 billion yen increase, both year-on-year.
2. Sales volume (Retail)
Global retail sales volume for FY2013 totaled 1,047,000 units, a 6% or 60,000-unit increase over the same period last fiscal year. Sales volumes by region were as follows:
Japan: Sales volume totaled 143,000 units for the term, a 7% or 9,000-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 as well as the February-released eK Space contributed to the increase.
North America: Sales volume amounted to 97,000 units for the term, a 14% or 12,000-unit increase year-on-year, buoyed by the introduction of the new Outlander and new Mirage models.
Europe: Sales volume totaled 202,000 units, an 11% or 21,000-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.
Asia: Sales volume came to 344,000 units, a 4% or 13,000-unit decrease year-on-year. Robust sales in China, mainly backed by the strong performance of the GAC Mitsubishi Motors JV, as well as the Philippines and Indonesia, both recording highest-ever sales volumes, contributed in minimizing the overall drop of the region; however, these were not enough to overcome the drop of sales in Thailand, affected by factors such as the lingering negative effects stemming from the end of the government's "first-car buyer" program in December 2012 as well as sluggish demand due to political instability.
Other Regions: Australia, New Zealand, Latin America, the Middle East and Africa all experienced year on year increases for a total of 261,000 units, a 14% or 31,000-unit increase overall.
2. Full-year fiscal 2014 forecasts
Full-year FY2014 (April 1, 2014 to March 31, 2015) operating results forecasts are as follows:
1. Outline of full-year FY2014 operating forecasts:
  • Net sales:
2,300.0 billion yen, an increase of 10% or 206.6 billion yen year-on-year
  • Operating income:
135.0 billion yen, an increase of 9% or 11.6 billion yen year-on-year
  • Ordinary income:
138.0 billion yen, an increase of 7% or 8.5 billion yen year-on-year
  • Net income:
110.0 billion yen, an increase of 5% or 5.3 billion yen year-on-year
2. Sales volume forecast (Retail):
Forecast for full-year FY2014 is 1,182,000 units, a 13% or 135,000 units over FY2013. Breakdown by region is as follows:
  • Japan:
147,000 units, up 3% or 4,000 units year-on-year
  • North America:
109,000 units, up 13% or 12,000 units year-on-year
  • Europe:
225,000 units, up 11% or 23,000 units year-on-year
  • Asia:
431,000 units, up 25% or 87,000 units year-on-year
  • Other regions:
270,000 units, up 3% or 9,000 units year-on-year

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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