Notice regarding Revision of Consolidated Financial Forecasts for Fiscal Year 2021(163KB)
November 04, 2021 at 12:22 pm IST
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November 4, 2021
Name of company:
MITSUBISHI MOTORS CORPORATION
Representative:
Takao Kato,
Representative Executive Officer,
President & CEO
(7211 TSE 1st section)
Contact:
Keiko Sasaki,
General Manager of IR Office
(TEL.03-3456-1111)
Notice regarding Revision of Consolidated Financial Forecasts for Fiscal Year 2021
At the meeting of the Board of Director held on November 4, 2021, we have decided to revise the performance forecast for the period ending March 31, 2022 (April 1, 2021 to March 31, 2022) that was released at the time of the announcement of the first quarter financial results for the period ending March 31, 2022 on July 27, 2021, based on the recent trends in performance and other factors.
1. Revision of Consolidated Financial Forecasts for Fiscal Year 2021 (April 1, 2021 - March 31, 2022)
Profit
Basic
Operating
Ordinary
attributable to
Net sales
earnings per
profit
profit
owners of
share
parent
Previously released
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Yen
forecast (A)
2,080,000
40,000
36,000
15,000
10.08
Revised forecast (B)
2,010,000
60,000
58,000
40,000
26.88
Variance (B - A)
-70,000
+20,000
+22,000
+25,000
-
Variance (%)
-3.4%
+50.0%
+61.1%
+166.7%
-
(Ref.) Results of
previous fiscal year
1,455,476
-95,321
-105,203
-312,317
-209.88
(fiscal year 2020)
2. Reason for the revision
We have revised our consolidated financial forecasts for fiscal year 2021 as shown above, reflecting the improvement in fixed costs and other factors, in addition to the improvement in selling expenses and exchange rates, while incorporating risks such as a decrease in unit sales due to a shortage of semiconductor supplies and a steep rise in raw material prices. We have set the US dollar and euro exchange rates at 110 yen and 131 yen, respectively, to forecast our consolidated financial results for fiscal year 2021. We have also revised our global sales forecast to 903,000 units.
This statement contains forward-looking statements, based on judgments and estimates that have been made on the basis of currently available information. By nature, such statements are subject to uncertainty and risk. Therefore, you are advised that the final results might be significantly different from the aforementioned statements due to changes in economic environments related to our business, market trends, fluctuations in interest rates and exchange rate, changes in laws, regulations and government policies, etc.
Potential risks and uncertainties are not limited to the above and Mitsubishi Motors is not under any obligation to update the information in this statement to reflect any developments or events in the future.
If you are interested in investing in Mitsubishi Motors, you are requested to make a final investment decision at your own risk, taking the foregoing into consideration. Please note that neither Mitsubishi Motors nor any third party providing information shall be responsible for any damage you may suffer due to investment in Mitsubishi Motors based on the information shown in this statement.
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Disclaimer
Mitsubishi Motors Corporation published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 06:51:03 UTC.
Mitsubishi Motors Corporation is one of the Japanese leaders of automotive construction. Net sales by activity break down as follows:
- sale of vehicles (98.3%): 937,000 vehicles (brands i-MiEV, Pajero Sport and RVR) sold in 2021/22 and broken down by country between Japan (75,000), Asia (331,000), Europe (131,000), North America (156,000) and other (244,000);
- financial services (1.7%): especially vehicle purchase financing services.
At the end of March 2022, the group had 29 production sites in the world.
Net sales break down geographically as follows: Japan (19.3%), Asia (23.7%), Europe (12.6%), North America (19.5%), Oceania (12.5%) and other (12.4%).