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Mitsubishi Motors fiscal Q2 profit falls YOY

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Mitsubishi Motors fiscal Q2 profit falls YOY

Mitsubishi Motors Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥21.26 per share, a decline of 16.6% from ¥25.48 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥20.91 billion, a decline of 16.6% from ¥25.06 billion in the year-earlier period.

The normalized profit margin fell to 3.7% from 4.8% in the year-earlier period.

Total revenue increased 9.2% year over year to ¥569.28 billion from ¥521.31 billion, and total operating expenses increased 8.1% from the prior-year period to ¥529.49 billion from ¥489.60 billion.

Reported net income decreased 14.2% year over year to ¥28.09 billion, or ¥28.56 per share, from ¥32.73 billion, or ¥33.28 per share.

As of Nov. 12, US$1 was equivalent to ¥122.92.