JAPAN: Mitsubishi revises full-year forecasts
Mitsubishi Motors Corporation has revised its fiscal full year forecasts upwards after first half results exceeded expectations.
The automaker has revised full-year revenue up anther 11% to 2.7 trillion yen, operating income up 37.3% to 70bn yen and ordinary income up 56.7% to 47bn yen.
Net income is unchanged at 20bn yen because of expected increases in consolidated taxes, MMC said on Tuesday.
Increases in unit sales volumes in overseas markets and favourable effects stemming from the weaker yen boosted first half revenue 3.4% above forecast to 1.3 trillion yen.
Operating income was 25.5% above forecast at 18.8bn yen, ordinary income up 321.1% at 9.6bn yen and net income 62.5% over original projection at 9.36bn yen.