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MITSUBISHI MOTORS CORPORATION Annual Report 2001 [43]
(Segment Information)
MMC has two business segments: Automobiles, which encompasses the manufacturing and sale of
passenger cars and trucks and buses; and Financial Services, which is centered around car financing.
Automobiles sales dropped ¥68.3 billion, or 2.1%, to ¥3,194.1 billion. The segment posted an
operating loss of ¥70.5 billion, as compared with operating income of ¥23.4 billion a year earlier.
Financial Services generated ¥94.0 billion in sales, up ¥9.0 billion, or 10.6%, over fiscal 1999. Oper-
ating income, however, dropped to ¥0.4 billion, a decrease of ¥0.1 billion relative to the previous year.
(Breakdown of Automobiles)
Automobiles is divided into the Passenger Car and Truck & Bus divisions. During the fiscal year in
review, MMC sold 146,000 trucks and buses on a shipment basis—an increase of 18.7% over the previous
fiscal year—and generated ¥718.5 billion in sales, an increase of 5.2%. Operating income was ¥9.4
billion, reversing a ¥6.2 billion loss for the preceding year.
MMC’s Truck & Bus operations have already turned around ahead of Passenger Car operations and
MMC is pushing ahead with further structural reforms. As part of the medium-term business plan
launched in 1998, the Truck & Bus Division closed down its Tokyo-based Maruko Plant in April 2001,
integrated and relocated production and development facilities and reduced the workforce by 14%.
These efforts have helped put the division back in the black.
Sales from the Passenger Car Division were down 3.5% to ¥2,558.2 billion, as higher worldwide sales
(1,702,000 cars on a shipment basis, up 4.0% over the preceding year) were overshadowed by a slump
in the Japanese market, where MMC sold 426,000 cars, 18.8% down year on year. The Passenger Car
Division posted an operating loss of ¥83.3 billion, compared with the ¥28.7 billion operating income it
recorded in fiscal 1999.
INTEREST-BEARING DEBT
Automobiles
Financial Services
NET LOSS
(FY)
0
500
1,000
1,500
(¥ billion)
99 00
99 00
(FY)
–300
–200
–100
0
(¥ billion)