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Tokyo, October 27, 2015
Mitsubishi Motors Corporation Announces Fiscal 2015 First Half Operating Results and Revises Full-year Forecasts
Tokyo, October 27, 2015 - Mitsubishi Motors Corporation (MMC) today announced its sales and financial results for the first half of the 2015 fiscal year (FY) ending March 31, 2016 along with a full-year forecast revision.
 
 
1. Performance overview
MMC posted consolidated net sales of 1,069.8 billion yen for the first half of fiscal 2015 (April 1 through September 30, 2015), a 3% or 34.7 billion yen increase over the same period last fiscal year.
 
MMC posted an operating income of 58.4 billion yen, a decrease of 7% or 4.3 billion yen over the same period last fiscal year. Despite of positive factors such as efforts on cost reductions, an increase in R&D investments and an increase in costs on quality measures in market overcame positive factors, leading to the overall decrease.
 
MMC posted an ordinary income of 58.5 billion yen, a decrease of 20% or 15.1 billion yen over the first half of FY2014. Net income for the term came to 52.1 billion yen, a decrease of 14% or 8.8 billion yen year-on-year.
 
2. Sales volume (Retail)
Global retail sales volume for the first six months of FY2015 remained at the same level over the same period last year totaling 521,000 units. Sales volumes by regions were as follows.
 
Japan: Sales volume totaled 46,000 units for the term, a 19% or 11,000-unit decrease year-on-year. Despite sales increased with registered vehicles over the same period last year led by sales of the new MY2016 Outlander PHEV and Outlander, a decrease in minicar sales due to a harsh market environment negatively affected the total decrease for the region.
 
North America: Sales volume of 69,000 units for the term, a 22% or 12,000-unit increase year-on-year. The increase was driven by firm sales of the Outlander, and Mirage (Space Star in some markets).
 
Europe: Sales volume totaled 104,000 units, remaining at the same level over the same period last year. Despite a sales volume drop in Russia where the economic situation worsened, the sales increase in Western Europe led by Germany and the U.K. offset the decrease for the total as a region.
 
Asia: Sales volume came to 152,000 units, a 9% or 15,000-unit decrease year-on-year, due to a continued sluggish economy in Thailand and decreased market growth in China since beginning of this fiscal year.
 
Other Regions: Sales volume totaled 150,000 units, a year-on-year increase of 11% or 14,000 units. Sales increased mainly in the Middle East, Africa, and Australia, resulting in an overall increase in sales for the region.
 
3. Revision to fiscal 2015 full-year forecasts
MMC has decided to keep its net sales and profits forecasted at the beginning of FY2015 to remain unchanged; however MMC has decided to revise the sales volume in its fiscal 2015 full-year (April 1, 2015 through March 31, 2016) consolidated earnings forecasts. The change was made based on the 1H FY2015 operating results and the consideration of other factors, including the current global economic situation and market trends. The revision is outlined below.
 
  • Sales volume:
1,053,000 units (47,000 units down from April 24, 2015 forecast)
  • Net sales:
2280.0 billion yen (no change)
  • Operating income:
125.0 billion yen (no change)
  • Ordinary income:
130.0 billion yen (no change)
  • Net income:
100.0 billion yen (no change)
 

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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