mitsubishi motors corp (7211) Snapshot

Mitsubishi Motors Corporation reported consolidated earnings results for the full year ended March 31, 2013. For the year, the company reported net sales of JPY 1,815,113 million compared to JPY 1,807,293 million a year ago. Operating income was JPY 67,382 million compared to JPY 63,674 million a year ago. Ordinary income was JPY 93,903 million compared to JPY 60,904 million a year ago. Net income was JPY 37,978 million or JPY 3.71 per diluted share compared to JPY 23,928 million or JPY 2.40 per diluted share a year ago. Return on equity was 12.7% compared to 9.7% a year ago. Ratio of ordinary income to total assets was 6.8% compared to 4.6% a year ago. Income before income taxes and minority interests were JPY 69,396 million compared to JPY 41,618 million a year ago. Cash flow from operating activities was JPY 172,227 million compared to JPY 119,386 million a year ago. Purchase of property, plant and equipment was of JPY 72,452 million compared to JPY 61,573 million a year ago. On non-consolidated basis, the company reported net sales of JPY 1,383,389 million compared to JPY 1,427,599 million a year ago. Operating income was JPY 14,771 million compared to JPY 15,137 million a year ago. Ordinary income was JPY 75,290 million compared to JPY 19,642 million a year ago. Net income was JPY 38,896 million or JPY 3.78 per diluted share compared to JPY 20,930 million or JPY 2.10 per diluted share a year ago. Net income before income taxes was JPY 40,795 million compared to JPY 19,384 million a year ago. The company provided consolidated earnings guidance for the second quarter and full year of fiscal ending March 31, 2014. For the quarter, the company expects net sales of JPY 1,000,000 million, operating income of JPY 36,000 million, ordinary income of JPY 34,000 million and net income of JPY 19,000 or JPY 3.13 per share. For the year, the company expects net sales of JPY 2,270,000 million, operating income of JPY 100,000 million, ordinary income of JPY 90,000 million and net income of JPY 50,000 or JPY 8.23 per share.

Mitsubishi Motors Corporation announced that they will report fiscal year 2013 results on Apr 25, 2013

Nissan Motor Co. Ltd. and Mitsubishi Motors Corporation announced the model names and showed the exterior designs of their jointly-developed new minicars for the Japanese market. Sales of the new minicars will begin in June 2013 under the Nissan DAYZ and DAYZ Highway STAR, and the Mitsubishi eK Wagon and eK Custom, model names. The product planning and development of the new models was conducted by NMKV Co. Ltd., a joint venture formed by Nissan and Mitsubishi Motors to develop minicars for the Japanese market. Uniting the strengths of Nissan and Mitsubishi Motors in functional areas such as product planning, development, design and purchasing, the new models offer highly competitive attributes such as excellent fuel economy and a comfortable, roomy cabin. Collaboration in NMKV from the product planning phase onward enabled Nissan and Mitsubishi Motors to retain their separate brand identities, yet create innovative and quite different designs for their respective minicar models. This has never been achieved before in mini-vehicles that have been produced under previous OEM vehicle supply agreements. Nissan’s new models were named DAYZ, where the standard ‘S’ was reversed to become a ‘Z’, to indicate a new way of looking at delivering value to owners as they go about their normal days. The goal is to change standard ‘everyday’ activities into days with added delight by owning one of these cars. The DAYZ and DAYZ Highway STAR are all-new minicars offering dynamic design and quality interior space, expressing unique Nissan traits that break the mold of what conventional minicars can offer. This was made possible thanks to it being the first case where Nissan participated in the development of its minicars from the onset of the product planning, development and design phases. Nissan’s new models were named DAYZ, where the standard ‘S’ was reversed to become a ‘Z’, to indicate a new way of looking at delivering value to owners as they go about their normal days. The goal is to change standard ‘everyday’ activities into days with added delight by owning one of these cars. The DAYZ and DAYZ Highway STAR are all-new minicars offering dynamic design and quality interior space, expressing unique Nissan traits that break the mold of what conventional minicars can offer. This was made possible due to it being the first case where Nissan participated in the development of its minicars from the onset of the product planning, development and design phases. NMKV’s joint project to develop minicars for the Japanese market is part of an agreement to expand the scope of cooperation between Nissan and Mitsubishi Motors that the two companies announced in December 2010. Both companies will continue to maximize the synergies generated through NMKV to strengthen the competitiveness of their respective minicar business. Following this first wave of minicar models, Nissan and Mitsubishi Motors are working on the planning and development of a second new minicar, a ‘super height’ (tall) wagon, which is slated for launch in early 2014.