|
Mitsubishi Motors' business performance for the term ending March 1998
is expected to fall well short of the forecasts announced in November
1997. Reasons for this include the decline in domestic market sales of
passenger cars, trucks and buses caused by the worse-than-expected economic
slump and slack personal spending in Japan since November 1997, and the
sharp falls in sales and profits in overseas markets brought about by
the economic disruption experienced in the countries of ASEAN and triggered
by the recent currency crises in S.E. Asia. As a result, Mitsubishi Motors
has revised its forecasts for the 1997 fiscal year (April 1 1997 through
March 31 1998) as shown below.
Following this latest revision of the business result forecast, the company
deeply regrets that it must announce that it has no plans to pay the year-end
dividend, originally forecast at 3.50 yen, for the term ending March 1998.
The company and the member companies of the Mitsubishi Motors Corporation
group will endeavor harder than ever to radically improve their management
structures and to that end will focus all resources on achieving an early
recovery in business performance and on strengthening their financial
structures.
Revision of non-consolidated and consolidated results
forecasts.
(1)Latest revision, announced 10 March 1998
(100 million yen)
|
|
Sales
|
Ordinary Profit
|
Net Income
|
|
Non-consolidated
|
25,000
|
-230
|
-280
|
|
Consolidated
|
37,000
|
-600
|
-1,100
|
(2) Previous revision, announced 6 November 1997
(100 million yen)
|
|
Sales
|
Ordinary Profit
|
Net Income
|
|
Non-consolidated
|
26,000
|
350
|
180
|
|
Consolidated
|
39,000
|
150
|
-400
|
(3)Results for fiscal 1996 (April 1 1996 to March 31 1997)
(100 million yen)
|
|
Sales
|
Ordinary Profit
|
Net Income
|
|
Non-consolidated
|
25,859
|
580
|
151
|
|
Consolidated
|
36,721
|
95
|
116
|
Non-consolidated Results Forecast
|
|
Nov. 1997 Forecast
|
Mar. 1998 Forecast
|
Change
|
1996FY
Results
|
|
1st half
Results
|
2nd half Forecast
|
1997FY
Forecast
|
2nd half
Forecast
|
1997FY
Forecast
|
|
Sales Volume (1,000 units)
Passenger cars
(domestic market)
|
260
|
323
|
583
|
256
|
516
|
-67
|
649
|
|
Trucks & buses
(domestic market)
|
55
|
47
|
102
|
39
|
94
|
-8
|
123
|
|
Exports
|
314
|
261
|
575
|
286
|
600
|
25
|
481
|
|
TOTAL
|
629
|
631
|
1,260
|
581
|
1,210
|
-50
|
1,253
|
|
Parts for overseas
production
|
418
|
402
|
820
|
362
|
780
|
-40
|
781
|
|
(100 million yen)
Net sales
|
13,195
|
12,805
|
26,000
|
11,805
|
25,000
|
-1,000
|
25,859
|
|
Operating income
|
202
|
258
|
460
|
-352
|
-150
|
-610
|
571
|
|
Ordinary income
|
175
|
175
|
350
|
-405
|
-230
|
-580
|
580
|
|
Net income
|
86
|
94
|
180
|
-366
|
-280
|
-460
|
151
|
Consolidated Results Forecast
|
|
1997FY Forecast
|
1996FY
Results
|
|
Nov 1997
|
Mar 1998
|
Change
|
|
(Unit: 100 million yen)
Net sales
|
39,000
|
37,000
|
-2,000
|
36,721
|
|
Operating income
|
630
|
0
|
-630
|
457
|
|
Ordinary income
|
150
|
-600
|
-750
|
95
|
|
Net income
|
-400
|
-1,100
|
-700
|
116
|
[Briefing Given By Katsuhiro Kawasoe,President
of Mitsubishi Motors Corporation]
[Corporate Structural Reforms]
|
