Tweet
Mitsubishi Motors Reports Nine-Month Financial Results for FY2017

Mitsubishi Motors Reports Nine-Month Financial Results for FY2017

05.02.2018: Mitsubishi Motors Corporation (MMC) today announced nine-month financial results for the period to December 31, 2017, and issued a new forecast for its full-year fiscal results ending March 31, 2018

Mitsubishi Motors Corporation (MMC) today announced nine-month financial results for the period to December 31, 2017, and issued a new forecast for its full-year fiscal results ending March 31, 2018.
 
 


 

For the nine-month period to December 31, Mitsubishi Motors reported revenues up 13% year-on-year to 1.52 trillion yen. Operating profits rose sharply to 64.6 billion yen, representing an operating margin of 4.3%, compared with an operating loss of 23.2 billion yen in the same period of fiscal 2016.



The company generated net income of 70.1 billion yen for the latest nine-month period, reversing a net loss of 213.3 billion yen in the prior-year nine-month period.
 


2. Global sales performance
 



Global sales volume for the nine months ended December 31, 2017 increased 15% year-on-year to 777,000 units, reflecting strong demand in Japan, China and the ASEAN region.
 


Sales in Japan increased 24% year-on-year to 62,000 units. The growth was driven by the resumption of Kei-cars sales, with encouraging demand for models including the "eK Wagon" and "eK Space", as well as for the Delica D:5 and other "Active Gear" series.
 


In China, sales rose 63% year-on-year to 103,000 units due to demand for the localized Outlander.
 


ASEAN sales increased by 25% to 187,000 units due to the strong performance of the new XPANDER MPV, which was launched in October in Indonesia.



Sales of the new Eclipse Cross compact SUV have begun smoothly in Europe, which will be followed by other important markets including Oceania, North America and Japan. Demand for the Eclipse Cross is expected to contribute to future sales growth in the full-year and in fiscal 2018.
 




3. Revision of the full fiscal year 2017 forecast and the dividend forecast

 


Given the strong sales performance and the progress of cost reduction during the nine months through the third quarter, Mitsubishi Motors has revised the full year forecast for FY2017 and the fiscal year-end dividend forecast, as shown below.
 



Full year forecast for FY2017

 
Dividend forecast

 


Osamu Masuko, Chief Executive Officer of Mitsubishi Motors, said: "Given our recovery trend and strong performance in the first nine months of the year, we have today revised our full-year forecast upwards.




Demand for new models and increased operational efficiency gives us confidence that we will accomplish this goal for this fiscal year. We will also continue to make necessary investments to build a foundation for our future growth. Based on this outlook, we have revised the year-end dividend forecast from the previous forecast of 7 yen per share to 10 yen."
 



About Mitsubishi Motors Corporation (MMC)



MMC is a Japanese automobile company which has a competitive edge in light trucks (pick-up trucks and SUVs) and in the ASEAN region. The company launched the first mass-produced electric vehicle in 2009, which was followed with a plug-in hybrid EV-based crossover in 2013.




MMC, which has 30,000 employees, has a global footprint and has production facilities in Japan, Thailand, China, Indonesia, The Philippines and Russia. Models such as the Pajero Sport, Triton and Outlander play a major role in achieving its growth. Global sales volume in fiscal year 2016 was 926,000 units. MMC's net sales for fiscal year 2016 were 1.9 trillion yen. MMC is listed on the Tokyo Stock. Exchange.
 


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.
 



- Mitsubishi Tokyo  -


Permanent-URL: http://www.automobilsport.com/mitsubishi-motors-reorts-nine-month-results-2017---172361.html

05.02.2018 / MaP

More News

Honda Sets All-Time Calendar Year Production Records for Automobile Production
02.02.2018
... Worldwide, Overseas, in Asia and ChinaHonda Motor Co., Ltd. today announced a summary of automobile production, Japan domestic sales, and export results for the calendar year 2017 as well as for the mont more >>
Toyota sells 1.52 million electrified vehicles in 2017
02.02.2018
... three years ahead of 2020 targetMilestone puts Toyota on track to achieve its 2030 target of 5.5 million electrified vehicle sales per year as part of its “Environmental Challenge 2050” more >>
BMW Group Middle East Reflects on Successful 2017
31.01.2018
 A Record Year for BMW 7 Series.-  Brand saw an 8% increase in sales in December 2017 compared to December 2016. - Most successful year ever for 7 Series which accounted for 18% of volume. - The new MINI Cou more >>
McLaren Automotive announces participation in Prime Minister's UK Trade delegation to China
30.01.2018
    Imports of the 570S Spider and 720S expected to begin with McLaren planning to double sales in China this year    McLaren Automotive continues to expand Chinese presence with 10 retailers and new sites set to be adde more >>
Renault-Nissan-Mitsubishi sells 10.6 million vehicles in 2017
30.01.2018
    Combined sales by Renault, Nissan and Mitsubishi Motors rise 6.5% to 10,608,366 units in 2017 – one in nine passenger cars and light commercial vehicles sold worldwide    Zero-emission leadership maintai more >>
BMW Group Financial Services announces the Car & Ride Sharing Lease
29.01.2018
BMW Group has a longstanding commitment to leading the way in mobility services by anticipating evolving customer needs and offering products that meet them. One of the biggest shifts in the automotive industry is the adoption of the sharing economy. Increasingly customers are looking for platforms which allow them to earn additional income by renting th more >>
Volkswagen Group South Africa completes major investment programme
25.01.2018
...and launches new VW Polo Photo Caption  : Premier of the Eastern Cape, the Hon. Phumulo Masualle; Chairman and Managing Director of Volkswagen Group South Africa, Mr. Thomas Schaefer; Deputy Minist more >>
IMF Global Growth Outlook
22.01.2018
The IMF is predicting an uptick in global growth in coming years, in part due to the impact of US tax cuts spurring investment and spending, the organization announced Monday.Global GDP growth will rise to 3.9% in 2018 and stay at that level in 2019 according to the figures released in the latest update to the World Economic Outlook report.“Well 2 more >>
Toyota announces new investment in its French car plant
22.01.2018
•    Toyota Motor Manufacturing France (TMMF) in Valenciennes to be upgraded to enable future production based on Toyota New Global Architecture (TNGA).•     Investment of mor more >>
Global sales results in 2017 - New record for Groupe Renault
15.01.2018
.... with 3.76 million vehicles sold, a rise of 8,5 %•    3.76 million vehicles sold, a rise of 8.5% in a market that grew 2.3%.•    A record year f more >>
Volkswagen brand sets delivery record in 2017
15.01.2018
    6.23 million vehicles handed over to customers worldwide    Deliveries up 4.2 percent on previous year    Most successful December in history of Volkswagen brand    Tiguan family with record deliveries more >>
Automobili Lamborghini achieves another record year
15.01.2018
3,815 cars delivered to customers in 2017 •    Lamborghini increases worldwide sales by 10% from 3,457 to 3,815 deliveries•    Global sales grow for seventh consecutive year• & more >>
Audi closes 2017 with new record-breaking sales
12.01.2018
1,878,100 automobiles sold:Following a difficult start, successful year-end closing with sales up 0.6 percent        Sales chief Bram Schot: “Demonstrated strength and brand attraction”     more >>
Porsche again sets new records for deliveries
11.01.2018
Four per cent more vehicles delivered worldwide in 2017The upward trend continued in 2017, as Porsche AG has delivered around 246,000 vehicles to customers worldwide in the last year. With this figure, the Stuttgart-based sports car manufacturer e more >>
BMW Group and Codelco agree on cooperation to establish the Responsible Copper Initiative.
11.01.2018
• Transparency in the copper supply chain will increase through the cooperation with Codelco • Sustainability from copper mining to installation in the automobile will be ensured • Together with many stakeholders, the Responsible Copper Initiative will set new standards in the copper supply chain more >>
SEAT sales rocket in 2017
11.01.2018
•    Brand deliveries total 468,400 vehicles, 14.6% more than in 2016 and the best result since 2001•    From 2012 to 2017, sales went up by 45.9%•    SEAT is one of the fastest growing brands more >>
2017 Toyota Motor Europe (TME) sales reach the 1 million mark with over 40% Hybrid EV sales
10.01.2018
    Toyota Motor Europe(1) sold 1,001,700 vehicles in 2017:      +8% versus last year, outperforming the market        Reaching 4.8% market share    more >>
McLaren Key corporate highlights 2017
05.01.2018
February – intention to build the new McLaren Composites Technology Centre in YorkshireMcLaren Automotive announced that it will in-source future production of carbon fibre Monocell and Monocage more >>
McLaren Automotive achieves another year of record sales in 2017
05.01.2018
McLaren Automotive, the British creator of luxury sportscars and supercars, has recorded another record year of growth, selling a total of 3,340 cars in 2017.Around two-thirds of sales are attributed to the Spo more >>
BMW Group sales increase 3.7 percent in December
04.01.2018
        BMW brand sales increase 4.3 percent.        MINI brand sales decrease 1.0 percent.    BMW Group Electrified Vehicles Sales total 21,208 in 2017. more >>
American Honda Sets 3rd Straight Annual Sales Record
03.01.2018
.....with Best-Ever December for Trucks    American Honda breaks all-time annual record for total Honda and Acura vehicle sales with 1,641,429 units in 2017, a gain of 0.2%    New light truck annual sales mark more >>
Porsche opens its 100th sales site in China
29.12.2017
Sports car manufacturer with a new offering for customersInvestments in the Middle Kingdom: Porsche has opened its 100th sales site in China. The new “Porsche Studio” in the huge metropolis of Guangzhou is an innovative sales concept similar to more >>
Daimler: Significant increase of Group Net Income as a result of the tax reform in the U.S.
23.12.2017
The law signed by the President of the USA for a comprehensive tax reform (“Tax Cuts and Jobs Act”), includes the reduction of the nationwide federal corporate income tax rate from 35% to 21%, starting January 01, 2018.   more >>
Daimler has acquired a majority stake in Chauffeur Privé
21.12.2017
... one of the leading private hire vehicle services in France    Another step in international expansion for Daimler Mobility Services    Chauffeur Privé has more than 1.5 million customers and 18,000 drivers more >>
BMW Group meets pledge to deliver 100,000 electrified vehicles in 2017
18.12.2017
The BMW Group has delivered more than 100,000 electrified vehicles to customers worldwide in 2017, as promised at the beginning of the year. This underlines the company’s leadership role when it comes to electro-mobility. An eye-cat more >>
Volkswagen Group deliveries grow 11.1 percent in November 2017
16.12.2017
    995,900 vehicles handed over to customers in November    Fred Kappler, Head of Group Sales: "Thanks to a successful second half of the year we are heading for a very good delivery result for the full year 2017." more >>
Groupe Renault, Brilliance form joint venture to manufacture LCVs in China
15.12.2017
...in three segments with three brandsGroupe Renault and Brilliance China Automotive Holdings Limited (Brilliance) have confirmed signing a contract for the formation of a joint venture to manufacture and sell light commercial vehicles ( more >>
BMW Group announces construction of new proving ground in the Czech Republic
15.12.2017
Company’s first development location in Eastern Europe-  Testing of ground-breaking technologies, such as electrification, digitalisation and automated driving - Investment in three-digit-million € range - more >>
Groupe Renault acquires a 40% share in the Challenges media group
13.12.2017
 Groupe Renault and the Challenges Group have combined efforts to develop editorial services for connected, autonomous cars and to respond to new opportunities for innovative ways of distributing content. Groupe Renault will acquire 40% of the ca more >>
Start of pay negotiations at Volkswagen
13.12.2017
    Chief negotiator Rosik: "We need to establish competitiveness – a reasonable pay settlement is essential."The negotiating committees of the company and the IG Metall trade union me more >>
Mercedes-Benz passes mark of two million vehicles sold already in November
06.12.2017
    Mercedes-Benz sold 195,698 vehicles in November – more than ever before in the eleventh month of the year (+7.2%).    Thanks to double-digit growth (+10.7%), more vehicles were delivered to customers in th more >>
Sales record for Honda in November
01.12.2017
New Sales Records Set as Honda and Acura Make Substantial Gains in November    Total American Honda sales rise 8.3% for a new November record; trucks also set record with 14.9% gain    Honda Divi more >>
BMW Group U.S. Reports November 2017 Sales
01.12.2017
        BMW Group sales total 32,087 vehicles in November        BMW brand sales increase 7.1 percent        MINI brand sales decrease 10.4 percent        BMW Group Electrified Vehicles Sales total 18,416 YTD more >>
Groupe Renault and Al-Futtaim sign agreements
20.11.2017
...to assemble and distribute renault vehicles in Pakistan•    Groupe Renault and Al-Futtaim sign definitive agreements dedicated to the exclusive assembly and distribution of Renault vehicles in Pakista more >>
Volkswagen continues its upward trend
10.11.2017
    550,900 vehicles delivered worldwide last month    Most successful October of all time:    7.7 percent increase compared with October 2016#    Deliveries so far this year 3.2 perc more >>
SEAT sales rise by 23.3% in October
10.11.2017
•    The Spanish carmaker delivers 40,200 vehicles in October•    Germany (+30.5%) and Spain (+24.9%) spearhead last month’s growth•    From January to October, sales near the 400,000 unit mark (+14.4%)•    The new Arona crossover is now in dealer showrooms more >>
Audi starts fourth quarter with sales growth
09.11.2017
Around 158,750 deliveries worldwide in October, up 5.3 percent        Sales chief Bram Schot: “Aim to continue positive sales trend”        World premiere of the new Audi A7: Market introduction from March 2018 more >>
Nissan contributes Ä 469 million for third quarter 2017 to Renaultís earnings
09.11.2017
Nissan released today its results for the second quarter of fiscal year 2017/2018 (April 1, 2017 to March 31, 2018).Nissan’s results, published in JGAAP, for the second quarter of fiscal year 2017/2018 (July 1 to September 30 more >>
Mercedes-Benz begins fourth quarter with new sales record
07.11.2017
    Mercedes-Benz set new sales record in October with 182,812 vehicles delivered (+5.6%).    Double-digit growth (+11.1%) in unit sales and a new best-ever figure were achieved for the first ten months (1,900,112 uni more >>

2001-2020 automobilsport.com full copyright