Mitsubishi Motors Corp. on May 9 released its full-year 2018 guidance as it reported results for fiscal year 2017 ended March 31.

The Japanese automaker expects to reach 110 billion yen in net income for 2018 and projects a 14% increase in global sales to approximately 1.3 million units.

It also expects net sales to increase 9% year over year to 2.400 trillion yen.

Mitsubishi reported a net income of 107.6 billion yen for fiscal year 2017, compared to a net loss of 198.5 billion yen in 2016. The S&P Capital IQ consensus GAAP net income estimate for the year was 99.42 billion yen.

In addition, the company's net sales for the year grew 15% year over year to 2.192 trillion yen from 1.907 trillion yen in fiscal year 2016.