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Mitsubishi Motors slides into red in first half

Mitsubishi Motors slides into red in first half

Mitsubishi Motors reports net loss of 36.4 billion yen ($403 million) for the fiscal first-half through September as sales tumbled by more than half from a year earlier.
The strong yen also eroded earnings from overseas.
In the same period a year earlier, the automaker had a net profit of 12.8 billion yen.
The Japanese automaker said Thursday that sales during the six months sank 53 percent from a year earlier to 573 billion yen.
The company expects to become profitable again by the end of the fiscal year in March and forecasts a full-year net profit of 5 billion yen.


Updated : 2021-01-23 13:52 GMT+08:00