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Mitsubishi Motors fiscal Q4 profit climbs 144.4% YOY

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Mitsubishi Motors fiscal Q4 profit climbs 144.4% YOY

Mitsubishi Motors Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥19.44 per share, an increase of 163.2% from ¥7.39 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥19.12 billion, an increase of 144.4% from ¥7.82 billion in the year-earlier period.

The normalized profit margin rose to 3.2% from 1.4% in the year-earlier period.

Total revenue increased year over year to ¥592.17 billion from ¥574.70 billion, and total operating expenses grew from the prior-year period to ¥557.02 billion from ¥547.56 billion.

Reported net income rose 20.5% year over year to ¥19.58 billion, or ¥19.91 per share, from ¥16.24 billion, or ¥15.33 per share.

For the year, the company's normalized net income totaled ¥94.47 per share, compared to EPS of ¥78.18 in the prior year.

Normalized net income was ¥92.91 billion, a rise from ¥78.45 billion in the prior year.

Full-year total revenue increased year over year to ¥2.181 trillion from ¥2.093 trillion, and total operating expenses increased on an annual basis to ¥2.045 trillion from ¥1.970 trillion.

The company said reported net income grew on an annual basis to ¥118.17 billion, or ¥120.16 per share, in the full year, from ¥104.66 billion, or ¥104.29 per share.

As of June 24, US$1 was equivalent to ¥124.31.