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Thursday, Oct 29, 2009 @03:51pm CDT Mitsubishi Motors posted consolidated net sales of $6.3 billion for the first half of fiscal 2009, a decrease of $7.1 billion or 53 percent over the same period last year. Factors behind the drop in sales include the drop in year on year unit sales volume and the strengthening of the Japanese yen. The company posted an operating loss of $358 million , down from the operating profit of the same period last fiscal year. Despite positive factors such as concerted efforts to reduce costs and expenses, these positive factors were overcome by the greater negative factors of the drop in sales volume and the strong yen. Mitsubishi Motors posted an ordinary loss of $376 million, a decrease over the ordinary profit from the same period last fiscal year and reported a net loss of $401 million, down from the net profit of the same period last fiscal year. Accordingly, the company says the financial results for the first half of fiscal year 2009 were mostly in line with the 1 H fiscal year 2009 forecasts announced on April 27th.
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