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MITSUBISHI MOTORS CORPORATION : Announces Fiscal 2013 First Quarter Operating Results
07/30/2013 | 03:14am US/Eastern
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Tokyo, July 30, 2013 - Mitsubishi Motors Corporation (MMC) today announced its sales and financial results for the first quarter of the 2013 fiscal year (FY) ending March 31, 2014.
1. Performance overview
MMC posted a consolidated net sales of 409.4 billion yen for the first quarter of fiscal year 2013 (April 1, 2013 through June 30, 2013), a 2% or 9.9 billion yen decrease over the first quarter of fiscal 2012, showing a decrease in wholesale volume.
MMC posted an operating income of 16.0 billion yen, a 7% or 1.1 billion yen increase over the same period last fiscal year. The increase was due mainly to favorable exchange rates as well as reductions in material and other costs which together overcame such negative factors as decreases in wholesale volume and increases in sales expenses including advertising costs.
Along with the increased non-operating income from factors including foreign exchange gains MMC posted an ordinary income of 22.3 billion yen, a 57% or 8.1 billion yen increase year-on-year. Net income for the term amounted to 16.4 billion yen, an 18% or 3.6 billion yen decrease year-on-year without the benefit of a 11.4 billion yen in extraordinary income from the sale of stock in affiliates like what was recorded in the first quarter of last fiscal year.
2. Sales volume (Retail)
Global retail sales volume for the first quarter of fiscal year 2013 totaled 249,000 units, a 4% or 10,000-unit increase over the same period last fiscal year. Sales volumes by region were as follows:
Japan: Sales volume totaled 28,000 units for the quarter, a 6% or 2,000-unit decrease year-on-year. Despite a strong start by the June-released all-new eK Wagon and eK Custom minicars, sales of other models lagged; contributing to the

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