TOKYO (dpa-AFX) - Japanese automaker Mitsubishi Motors Corp. (MMTOF.PK, 7211) reported Wednesday that its fiscal 2017 net income was 107.6 billion Japanese yen, compared to prior year's net loss of 198.5 billion yen.
Operating profit climbed to 98.2 billion yen from 5.1 billion yen a year ago. Operating margin was 4.5%.
Mitsubishi Motors' net sales went up 15% to 2.19 trillion yen from 1.91 trillion yen a year ago.
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. 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.
Looking ahead, the company forecast that global sales in Fiscal Year 2018 would increase by 14% year-on-year to 1.25 million units.
For Fiscal Year 2018, net sales are projected to rise 9% year-on-year to 2.40 trillion yen. MMC expects to achieve operating profit of 110.0 billion yen, representing 4.6% operating margin. Net income is forecast to be 110.0 billion yen.
Copyright RTT News/dpa-AFX