Mitsubishi Motors Corporation (MMC) has revised its consolidated forecasts for the first half of fiscal 2014 (April 1, 2014 to September 30, 2014) from the previous forecasts announced on April 24, 2014.
Revision of Consolidated Forecasts for the First Half of Fiscal Year 2014 (Apr.1 to Sep.30, 2014)
Net Sales
(millions of yen)
Operating Income
(millions of yen)
Ordinary Income
(millions of yen)
Net Income
(millions of yen)
Net Income Per Share
(yen)
Previous forecast (A)
1,090,000
55,000
56,000
43,000
43.72
Revised forecast (B)
1,035,100
62,700
73,600
60,900
61.93
Change in amount (B-A)
-54,900
+7,700
+17,600
+17,900
Change as percentage
-5.0%
+14.0%
+31.4%
+41.6%
(For reference only)
Results for the first half of last fiscal year (year ending March 2014)
929,004
50,820
60,973
46,730
75.44
Note: As a 10:1 stock consolidation was implemented on August 1st 2013, net income per share for first half of last fiscal year was calculated on outstanding stock (excluding treasury stock) post-consolidation.
Reasons for the revision
In comparison to the previously announced forecast for the first half of fiscal year 2014, although net sales are expected to fall as a result of reduced sales volume, an upturn in operating income of +7.7 billion yen is expected from a correction of the high yen and continuous efforts in reducing material and other costs. In addition to the aforementioned forecasted upturn in operating income, expected upturns in non-operating foreign exchange gains/losses and equity in earnings/losses of affiliates contributed to both ordinary income and net income forecasts for the first half of fiscal year 2014 also being revised upward +17.6 billion yen and +17.9 billion yen respectively.
Full-year consolidated financial result forecasts (April 1, 2014 to March 31, 2015) are currently being formulated and will be announced on October 29, 2014.
Note: The earnings forecasts above are based on currently available information and are subject to a number of uncertainties. These uncertainties may cause actual results to differ from these forecast figures.
