Mitsubishi Motors operating income plunged over 86% in the second quarter of 2019 to JPY3,857m from EUR28,107m in Q2 2018.
Net sales fell 4.3% to JPY536.164m from JPY560,045.
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Net income was down 67% to JPY9,312m from JPY28,186m.
Net income per share dropped from JPY18.92 a year ago to JPY6.26.
The company forecast full year sales of JPY2,580bn versus JPY2,515bn im fiscal 2018/19, operating profit of JPY90bn (JPY111.8bn), net income of JPY65bn (JPY132.9bn) and unit sales of 1,305,000 units versus 1,244,000.
Wholesale unit volume was 329,000 for the quarter, down from 336,000 a year ago.
Domestic sales rose to 69,000 from 55,000 while overseas sales fell from 281,000 to 260,000.
MMC made organisation changes and re-assigned managers from 1 July.
The automaker, part of the Renault-Nissan-Mitsubishi alliance, said it would establish a new board of directors office which would take over the board's secretariat duties previously managed by the CEO/COO office.
An audit committee office would be newly established replacing the audit & supervisory board members office.
The CEO/COO office would be renamed the corporate management office.
Earlier, the automaker said it would relocate its US headquarters from California to Franklin, Tennessee, to be closer to alliance partner Nissan. Renault doesn't sell cars in the US.
