The Strategist

Mitsubishi reports profit for the first half of the financial year


11/05/2021 - 02:31



Japanese carmaker Mitsubishi Motors posted a net profit of 21.7 billion yen ($191 million) for the first half of fiscal 2021-2022, ending Sept. 30, after a loss of 210 billion yen ($1.8 billion) a year earlier, according to the company’s report.



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Earnings per share were 14.57 yen ($0.13) against a loss of 141.02 yen ($1.23) in the first six months of the previous fiscal year. Operating profit was 25.186 billion yen ($221.2 million) after a loss of 82.626 billion yen ($725.6 million) a year earlier. Revenue rose 1.6 times to 890.6 billion yen ($7.8 billion).

Mitsubishi's half-year sales rose 26% to 442,000 vehicles.

For the full fiscal year, the company expects revenue of 2 trillion yen ($17.6 billion), with Mitsubishi's net income expected to be 40 billion yen ($351 million) and operating profit of 58 billion yen ($509 million).

Mitsubishi Motors is part of Mitsubishi Corp. founded in 1954. The corporation owns assets in energy, metals, machinery and consumer products and has operations in more than 80 countries. Mitsubishi Corp. is headquartered in Tokyo.

source: bloomberg.com




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