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  • Mitsubishi Motors Reports First-Quarter Financial Results for FY2018

Mitsubishi Motors Reports First-Quarter Financial Results for FY2018

Mitsubishi Motors Reports First-Quarter Financial Results for FY2018

Tokyo - Mitsubishi Motors Corporation (MMC) announced first-quarter financial results for Fiscal Year 2018 ended March 31, 2019 (1Q/FY2018).

MMC 1QFY2018 001

1. 1Q/FY2018 Financial Results Highlights

Mitsubishi Motors reported net sales for 1Q/FY2018, up 27.0% year-on-year to 560.0 billion yen. Operating profit rose from 20.6 billion yen in the same period of FY2017 to 28.1 billion yen (up 36.4% year-on-year), representing an operating margin of 5.0%. The company generated net income of 28.2 billion yen (up 22.6% year-on-year) for the latest 3-month period.

2. Global sales performance

Global sales volume for 1Q/FY2018 increased 21% year-on-year to 292,000 units.

 ASEAN sales increased by 28% to 69,000 units, driven by orders for pick-up trucks in Thailand and the strong performance of the new XPANDER MPV launched in Indonesia last fall.

  In China, sales rose 50% year-on-year to 36,000 units due to strong demand for the localized Outlander.

  Sales in North America increased by 25% year-on-year to 45,000 units. The growth was driven by solid demand for the Outlander PHEV and Eclipse Cross, which were launched in the latter half of 2017.

3. FY2018 forecasts

MMC forecasts for FY2018 are as shown below. There is no change from what was disclosed to Tokyo Stock Exchange in May 2018.Osamu Masuko, Chief Executive Officer of Mitsubishi Motors, said: "In the second year of the current Mid-Term Plan, we have made a good start in line with our goals for both volume and profitability. We will be relentless in achieving our target while making necessary investments for the future growth."

# # #

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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