Mitsubishi Motors Corporation (MMC) recently announced full-year financial results for Fiscal Year 2017 ended March 31, 2018, and issued its initial forecast for Fiscal Year 2018 ended March 31, 2019. Osamu Masuko, Chief Executive Officer of Mitsubishi Motors, said: 

"In FY2017, the first year of the mid-term business plan (MTP), we were able to make a good start, achieving the targets which were even revised upward during the fiscal year. I also find it very encouraging that our new products, XPANDER and Eclipse Cross have been launched successfully."

Mitsubishi Motors reported net sales up 15% year-on-year to 2.19 trillion yen for Fiscal Year 2017. Operating profit rose sharply to 98.2 billion yen, representing an operating margin of 4.5%, compared with an operating profit of 5.1 billion yen in the same period of Fiscal Year 2016.

Global sales volume for Fiscal Year 2017 increased 19% year-on-year to 1,101,000 units.

ASEAN sales increased by 33% to 275,000 units, driven by orders for pick-up trucks in Thailand and the strong performance of the new XPANDER, launched in Indonesia last September.

In China, sales rose 55% year-on-year to 136,000 units due to demand for the localized Outlander.

Sales in Japan increased 23% year-on-year to 98,000 units. The growth was driven by encouraging demand for Kei car models including the "eK Wagon" and "eK Space", as well as for the Delica D:5 and other "Active Gear" series

MMC forecast that global sales in Fiscal Year 2018 would increase by 14% year-on-year to 1.25 million units. Net sales are projected to rise 9% year-on-year to 2.40 trillion yen. Net income is forecast to be 110.0 billion yen