— Mitsubishi Motors Corporation has revised its consolidated forecast for fiscal 2008 (April 1, 2008 to March 31, 2009) from the previous forecast announced on October 30, 2008.
1. Revision of Consolidated Forecasts for Fiscal Year 2008 (April 1, 2008 to March 31, 2009)
| |
Net
sales |
Operating
income |
Ordinary
income |
Net
income |
| Previous forecast (A) |
2,360,000 |
50,000 |
43,000 |
20,000 |
| Revised forecast (B) |
2,010,000 |
5,000 |
(20,000) |
(60,000) |
| Change in amount (B-A) |
(350,000) |
(45,000) |
(63,000) |
(80,000) |
| Change as percentage |
(14.80%) |
(90.00%) |
- |
- |
(For reference only)
Results for the last fiscal year ending March 2008 |
2,682,103 |
108,596 |
85,731 |
34,710 |
2. Reasons for the revision
Net sales, operating income, ordinary income, and net income for fiscal 2008 are expected to fall below the company's previous forecast announced on October 30, 2008 due mainly to plummeting unit sales stemming from the economic downturn and the stronger yen exchange rate.
In addition to the aforementioned reasons, net income includes costs expected to be incurred in reevaluating the company's production facilities in light of falling production volumes, as well as costs expected to be incurred in streamlining functions and reassessing staff levels in line with sales volume.
