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Mitsubishi Motors Predicts Big Second-Half Earnings Gain
Mitsubishi Motors Corp. expects to report a fiscal first-half operating profit of 40 billion-yen ($353 million) in April-September, reversing a 31.6 billion-yen ($279 million) loss in the same period a year earlier.
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Mitsubishi Motors Corp. expects to report a fiscal first-half operating profit of 40 billion-yen ($353 million) in April-September, reversing a 31.6 billion-yen ($279 million) loss in the same period a year earlier.
MMC predicts in May that it would reverse a 199 billion-yen loss for the year ended March 31 with a 68 billion-yen profit in the current 12-month period.
MMC says its revenue for the period should grow about 4% to more than 900 billion yen ($8 billion).
The company is enjoying a sales rebound after admitting a year ago it had fabricated fuel economy data for nearly 30 years. The scandal cut revenue 20% and shrank profits 18% through the first three quarters of the 2016 fiscal year.
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