Mitsubishi's first-quarter net profit soared 70%

Mitsubishi Motors recently announced its financial data for the first quarter of fiscal year 2014 (April to June 2014). The company’s operating income rose strongly last quarter, and its operating profit increased by more than 90%.

In the first quarter of the fiscal year, Mitsubishi’s operating income climbed from 409.43 billion yen (approximately US$3.97 billion) in the same period of last year to 513.79 billion yen (approximately US$4.98 billion), a year-on-year increase of 25.5%. Operating profit reached 30.96 billion yen (about 300 million U.S. dollars), a dramatic increase of 93.1% from the same period last year.

Mitsubishi’s net profit last quarter also achieved strong growth, rising from 16.44 billion yen (about 160 million US dollars) in the same period last year to 28.16 billion yen (about 270 million US dollars), an increase of 71.3%, and net profit margin from last year During the same period, 4.0% rose to 5.5%.

Looking at the performance of each region, Mitsubishi’s revenue growth in Japan and Europe was the strongest in the last quarter, reaching 108.5 billion yen (approximately US$1.05 billion) and 147.5 billion yen (approximately US$1.43 billion) respectively. The increase was 28.9% and 73.3% respectively; the company also maintained growth in Asia and North America in the previous quarter, reaching respectively 95.3 billion (about 920 million US dollars) and 47.8 billion yen (about 460 million US dollars).