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Tokyo, February 03, 2016
Mitsubishi Motors Corporation Announces Fiscal 2015 Third Quarter Operating Results and Revises Full-year Forecasts
Tokyo, February 3, 2016 – Mitsubishi Motors Corporation (MMC) today announced its sales and financial forecasts for the third quarter of the 2015 fiscal year (3Q FY2015) ending March 31, 2016 along with a full-year forecast revision.
 
 
1. Performance overview
MMC posted consolidated net sales of 1,622.0 billion yen for the first nine months of fiscal 2015 (April 1 through December 31, 2015), a 5% or 73.4 billion yen increase over the same period last fiscal year.
 
MMC posted an operating income of 102.0 billion yen, an increase of 1% or 1.2 billion yen over the same period last fiscal year. Despite an increase in costs on quality measures in market, positive factors such as cost reductions and improvements in volume/model mix, and others contributed to the increase.
 
MMC posted an ordinary income of 106.7 billion yen, a decrease of 11%, or 13.4 billion yen over the same period in FY2014. Net income attributable to owners of the parent came to 76.7 billion yen, a decrease of 22% or 21.9 billion year-on-year due to extraordinary loss of 15.3 billion recorded from terminating the production in the U.S.
 
2. Sales Volume (Retail)
Global retail sales volume for the first nine months of FY2015 totaled 787, 000 units, a decrease of 2% or 19,000 units over the same period in FY2014. Sales volumes by regions were as follows.
 
Japan: Sales volume totaled 66,000 units, a year-on-year decrease of 16% or 13,000 units. Despite sales increased with registered vehicles over the same period last year, decrease in minicar sales negatively affected the total decrease for the region.
 
North America: Sales volume totaled 101,000 units, a year-on-year increase of 19% or 16,000 units. The increase was driven by firm sales of the Outlander and the Outlander Sport (RVR or ASX in some markets).
 
Europe: Sales volume in the Western European area totaled 129,000 units, a year-on-year increase of 18% or 21,000 units, contributed mainly by sales increases in Germany and the United Kingdom. However, this increase could not offset the drop in sales volume in Russia where the economic environment worsened and prices rose due to a worsening currency situation, resulting in a total of 157,000 units, a decrease of 8% or 14,000 units for the region as a whole.
 
Asia: Sales volume totaled 242,000 units, a year-on-year decrease of 6% or 15,000 units. Although sales increased in Thailand over the same period last year, led by firm sales of the Pajero Sport which debuted in October 2015, sales decrease in China and Indonesia negatively affected the total sales of the region.
 
Other Regions: Sales volume totaled 221,000 units, a year-on-year increase of 4% or 7,000 units due to sales increase in the Middle East and Africa.
 
3. Revision to fiscal 2015 full-year forecasts
MMC has decided to revise sales volume and net sales in its fiscal 2015 full-year (April 1, 2015 through March 31, 2016) consolidated earnings forecasts. The changes were made based on the 3Q 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 (no change from October 27, 2015)
Net sales:  
2260.0 billion yen (20.0 billion yen down)
Operating income:  
125.0 billion yen (no change)
Ordinary income:  
130.0 billion yen (no change)
Net income*:  
100.0 billion yen (no change)
 
*Net income attributable to owners of the parent
 

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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