Mitsubishi Expects Big Loss in Europe

Mitsubishi Motor Corp. says it will record a 12.3 billion-yen ($151 million) extraordinary loss in the fiscal year that ended on March 31 from the planned closing of its Netherlands Car BV factory by December.

MMC trimmed its revenue prediction for the just-ended fiscal year by about 1% to 1.8 trillion yen ($22.2 billion) and raised its net profit estimate by nearly 4 billion yen ($48 million) to 23.9 billion yen ($293 million), citing successful cost cutting.