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Mitsubishi Motors fiscal Q3 profit falls YOY


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Mitsubishi Motors fiscal Q3 profit falls YOY

Mitsubishi Motors Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, was ¥2.43 per share, a decrease of 92.0% from ¥30.25 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.36 billion, a decrease of 88.7% from ¥29.75 billion in the prior-year period.

The normalized profit margin fell to 0.7% from 5.0% in the year-earlier period.

Total revenue fell 19.5% on an annual basis to ¥476.90 billion from ¥592.16 billion, and total operating expenses decreased 14.6% on an annual basis to ¥468.51 billion from ¥548.59 billion.

Reported net income declined 74.5% from the prior-year period to ¥6.29 billion, or ¥4.53 per share, from ¥24.67 billion, or ¥25.09 per share.

As of Feb. 13, US$1 was equivalent to ¥113.90.