Mitsubishi Motors' deficit of 25.7 billion yen for the fiscal year ended March 31, 2018 Impact of the new corona 21:09 on May 19
For the fiscal year ended March 31, Mitsubishi Motors posted a net loss of 25.7 billion yen due to a significant decrease in vehicle sales worldwide due to the spread of the new coronavirus.
Mitsubishi Motors announced that the year-end financial results up to March were 2,027.2 billion yen, with 9.7% less sales than the previous year, and the final profit / loss was 257% from the previous year's 132.8 billion yen surplus. It has fallen into the deficit of 100 million yen.
It is the first time in 3 years that we will be in the red.
This was because sales were sluggish mainly in Europe and the United States, but due to the spread of new coronavirus infection, sales fell sharply worldwide.
In response to the deterioration of business performance, the company will concentrate management resources on the mainstay Southeast Asian market, consider relocation of personnel and control of R & D expenses, and by the end of next fiscal year We are aiming for reduction.
Takao Kato, CEO of Mitsubishi Motors, said, "We have been thinking about reducing the areas and models of vehicles with low profitability, but we need to accelerate our investigation due to the impact of the spread of infection. We will work to reduce costs promptly."
Nissan, Renault, Mitsubishi to strengthen cooperation
Meanwhile, Nissan Motor Co., Ltd., Renault, and the head of the three-company coalition of Mitsubishi Motors Corporation will jointly hold a conference on 27th of this month to announce new measures to strengthen cooperation.
Due to the spread of new coronavirus infection, the severity of business performance of all three companies is increasing, and it seems that it will be questioned how far concrete efforts can be shown towards recovery.