Mitsubishi Motors Corporation has raised its operating profit forecast for the current fiscal year by 20% on a weaker yen.
It also said that other factors boosting the bottom line include cost cuts and strong sales of its Outlander plug-in hybrid.
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Despite a decline in overall sales, MMC also raised its net profit outlook for the financial year ending in March 2014 by 23% to 100 billion yen.
The company also said it will hold an extraordinary shareholders’ meeting on December 26 to prepare for a public share offering as a part of its plan to pay back its top shareholders for support in a 2004 bailout.
