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Posts Tagged ‘mitsubishi earnings’

Mitsubishi Motors Profits Rebound Big in FY17

Third leg of Alliance enjoys turnaround year.

by on May.11, 2018

The new Mitsubishi Eclipse Cross is helping to draw new buyers to the Japanese brand.

Once considered an also ran, Mitsubishi Motor Co has found new life on the heels of its alliance with Renault and Nissan.

Mitsubishi Motors reported net sales were up 15% year-on-year to 2.19 trillion yen, or $20.1 billion, for Fiscal Year 2017, ending March 31, 2018. Operating profit rose sharply to 98.2 billion yen, or $899.5 million, representing an operating margin of 4.5%, compared with an operating profit of 5.1 billion yen, or $45.8 million, in the same period of Fiscal Year 2016.

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The company generated net income of 107.6 billion yen, $988.3 million, for the latest 12-month period, reversing a net loss of 198.5 billion yen, or $1.8 billion, in the prior fiscal year, the company reported. (more…)

Honda Earnings Tumble – But Mitsubishi Rides Out Quake With Rare Profit

Both makers anticipate earnings upturn over coming months.

by on Aug.01, 2011

Honda's earnings could rebound if new products like the next-gen CR-V catch on in the months ahead.

With some of its key models still in short supply in the wake of the March 11 earthquake and tsunami that devastated Northeast Japan, few analysts were surprised when Honda Motor Co. reported a 90% plunge in profits for the latest quarter.

The real shock came from long-troubled Mitsubishi Motors, which rode out the impact of parts and product shortages to post a rare profit for the first quarter of the Japanese fiscal year, which began on April 1, just weeks after the natural disaster struck.

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Both companies – like most of the Japanese industry — are betting that as shortages are made up, earnings will steadily improve in the months ahead.  Honda, in fact, raised its full-year profit forecast, underscoring its confidence in a strong recovery.  But the maker has several critical challenges.  It has to get the new 2012 Civic into full production mode.  Its spring launch unfortunately coincided with the Japanese disaster and U.S. officials warn the new small car may not reach normal production levels until autumn.  Meanwhile, Honda has to hope there will be no more setbacks as it prepares to launch the next generation of its compact CR-V crossover.

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