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June 24, 2017

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Mitsubishi Motors profit improves on slashed costs, nets 10.1 bil. yen in Q2

TOKYO -- Mitsubishi Motors' fiscal second-quarter net profit improved 60 percent to 10.1 billion yen (US$126 million) on cost cuts as the Japanese automaker recovered from last year's disaster despite lagging sales.

Mitsubishi Motors Corp. had reported a 6.3-billion-yen profit for the July-September period the previous year.

Quarterly sales dipped 7 percent to 440.7 billion yen (US$5.5 billion) as a strong yen and economic woes in Europe added to the damage, the Tokyo-based manufacturer said Tuesday.

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