Mitsubishi Motors Corporation Announces Third Quarter Fiscal 2009 Results....

..... and Full-Year Forecasts

Mitsubishi Motors Corporation today announced its sales and financial results for the third quarter (3Q) of the 2009 fiscal year ending March 31, 2010, and outlined its forecasts for the full fiscal year.
 
 
1. Performance overview

Mitsubishi Motors posted consolidated net sales of 952.1 billion yen for the first three quarters of fiscal 2009 (April 1 through December 31, 2009), a decrease of 706.0 billion yen, or 43 percent over the same period last year. Factors behind the drop in sales include the drop in year-on-year unit sales volume and the strengthening of the Japanese yen.
 
Mitsubishi Motors posted an operating loss of 19.8 billion yen, 39.7 billion yen down from the operating profit of the same period last fiscal year. Despite positive factors such as concerted efforts to reduce costs and expenses, these positive factors could not offset the greater negative factors of the drop in sales volume and the strong yen.
 
Mitsubishi Motors posted an ordinary loss of 21.2 billion yen, a 25.9 billion yen decrease over the ordinary profit from the same period last fiscal year, and reported a net loss of 25.7 billion yen, 20.9 billion yen down from the net loss of the same period last fiscal year.
 

2. Sales Volume

Mitsubishi Motors’ global retail sales volume for the first nine months of fiscal year 2009 totaled 689,000 units, a decrease of 159,000 units, or 19 percent over the same period last year. Below is a breakdown of regional unit sales volume.
 
• Japan: 114,000 units (a decrease of 8,000 units, or 7 percent year-on-year)
• North America: 66,000 units (a decrease of 31,000 units, or 32 percent year-on-year)
• Europe: 131,000 units (a decrease of 101,000 units, or 43 percent year-on-year)
• Asia and Other Regions: 378,000 units (a decrease of 19,000 units, or 5 percent year-on-year)
 

3. Fiscal 2009 full-year forecasts

Upon review of recent market developments, Mitsubishi Motors has decided to partially revise its October 29, 2009-announced fiscal 2009 forecast. Mitsubishi Motors will increase its sales volume plan by 3% to 960,000 units from the former 932,000-unit plan, but will leave its full-year financial forecasts unchanged (net sales of 1.5 trillion yen; operating profit of 30 billion yen; ordinary profit of 15 billion yen; net profit of 5 billion yen).
 

Note on forward-looking statements

All statements herein, other than historical facts, contain forward-looking statements and are based on MMC'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 presentation;
    - fluctuations in interest rates, exchange rates and oil prices;
    - changes in laws, regulations and government policies;
    - regional and/or global socioeconomic changes

Potential risks and uncertainties are not limited to the above and MMC is not under any obligation to update the information in this presentation to reflect any developments or events in the future.

If you are interested in investing in Mitsubishi Motors, you are requested to make a final investment decision at your own risk, taking the foregoing into consideration. Please note that neither Mitsubishi Motors nor any third party providing information shall be responsible for any damage you may suffer due to investment in Mitsubishi Motors based on the information shown in this presentation.

 
- Tetsuji Inoue / Shigeru Jibiki-