Market Overview

Mitsubishi Motors Corporation Announces Fiscal 2012 First Half Operating Results and Revises Full-Year Forecasts

Tokyo, Oct 30, 2012 - (JCN Newswire) - Mitsubishi Motors Corporation (MMC) today announced its sales and financial results for the first half of the 2012 fiscal year (FY) ending March 31, 2013 along with full-year forecast revisions.

1. Performance overview

MMC posted a consolidated net sales of 860.0 billion yen for the first half of fiscal 2012 (April 1 through September 30, 2012), a 5% or 47.5 billion yen decrease over the same period last fiscal year. Although wholesale volume increased, changes in the model mix as well as factors including the negative effect of the strong yen forced the decrease.

MMC posted an operating income of 30.8 billion yen, a decrease of 10% or 3.4 billion yen over the same period last fiscal year. The positive effects of steadily progressing reductions in materials and other costs could not overcome negative factors including effect of the strong yen and increases in selling costs, such as new model advertising costs.

MMC posted an ordinary income of 31.6 billion yen, an increase of 36% or 8.3 billion yen over the first half of FY2011 and posted a net income for the term of 30.1 billion yen, an increase of 184% or 19.5 billion yen year-on-year.

2. Sales volume

Global retail sales volume in the first half of fiscal 2012 totaled 478,000 units, a decrease of 8% or 41,000 units over the same period last fiscal year. Sales volumes by region were as follows:

- In Japan, MMC posted a sales volume of 63,000 units, a decrease of 12% or 9,000 units year-on-year. Factors for this decrease included the effect on minicar sales due to a lack of models in the minicar class that qualify for the government's "eco-car" incentives as well as the end of the current Outlander core model making way for the new version.

- In North America, MMC posted a sales volume of 43,000 units, a decrease of 18,000 units, or 29% over the same period last year. Although sales of the Outlander Sport (RVR or ASX in other markets, for which local production started in July) in the United States increased over the same period last year, the decrease was caused mostly due to a drop in sales in the United States of the Eclipse, Eclipse Spyder, and the Endeavor, following the termination of these models in August of last year.

- In Europe, MMC posted a sales volume of 90,000 units, a decrease of 27,000 units, or 23% over the same period last year. Enjoying brisk sales in the growing Russian market, MMC added the new Outlander to high acclaim and continuing strong sales there. However the Russian boost was overcome by western Europe, where declining overall demand led to a deep drop in sales year-on-year.

- In Asia & Other Regions, MMC posted a sales volume of 282,000 units, an increase of 13,000 units, or 5% over the same period last year. Although sales volume decreased in regions including North Asia as well as the Middle East & Africa, the increase was made possible mainly by strong sales in ASEAN bloc countries led by Thailand where the Mirage is showing a strong takeoff since its March release.\

3. Revision to fiscal 2012 full-year forecasts

MMC has decided to revise the sales volume and net sales figures in its fiscal 2012 full-year (April 1, 2012 through March 31, 2013) consolidated earnings forecasts announced on July 30, 2012. These changes were made based on the 1H FY2012 financial results and the consideration of many factors, including the current global economic situation and operating environment. The revision is outlined below.

- Sales volume: 1,044,000 units (46,000 units down from July 30 forecast)
- Net sales: 1,830.0 billion yen (150.0 billion yen down)
- Operating income: 80.0 billion yen (no change)
- Ordinary income: 62.0 billion yen (no change)
- Net income: 13.0 billion yen (no change)

Please see the full release with attached PDF files:

Note on forward-looking statements:

All statements herein, other than historical facts, contain forward-looking statements and are based on Mitsubishi Motors Corporation's current forecasts, expectations, targets, plans, and evaluations. Any forecasted value is calculated or obtained based on certain assumptions. Forward-looking statements involve inherent risks and uncertainties.

About Mitsubishi Motors

Mitsubishi Motors Corporation (TSE: 7211) was established in 1970 and is one of the few automobile companies in the world that produces a full line of automotive products ranging from 660-cc mini cars and passenger cars to commercial vehicles and heavy-duty trucks and buses. The company also operates consumer financing services and provides this to its customer base. For more information, please visit

Source: Mitsubishi Motors

Mitsubishi Motors
Public Relations Department

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