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MITSUBISHI MOTORS CORPORATION
Annual Report 2015
36
Geographical Segment Information
z Japan
Net sales totaled ¥1,839.6 billion, an increase of ¥95.2 billion
or 5% over fiscal 2013 due to higher unit sales and favorable
foreign exchange rate. Segment income came in at ¥86.0
billion, an increase of ¥17.6 billion or 26% over fiscal 2013.
z North America
Net sales totaled ¥305.5 billion, an increase of ¥38.2 billion
or 14% over fiscal 2013 mainly by higher unit sales. Segment
income came in at ¥2.5 billion, a decrease of ¥0.2 billion or 6%
over fiscal 2013 mainly due to increase in selling expenses.
z Europe
Net sales came in at ¥79.6 billion, a decrease of ¥49.1 billion
or 38% over fiscal 2013 mainly due to revision on scope of
consolidation of distributors. Segment income came in at ¥8.0
billion, a decrease of ¥0.2 billion or 3% over fiscal 2013.
z Asia and Other Regions
Net sales came in at ¥881.3 billion, an increase of ¥25.1 billion
or 3% over fiscal 2013 driven mainly by higher unit sales.
Segment income, however, came in at ¥39.5 billion, a decrease
of ¥8.5 billion or 18% over fiscal 2013 due to a drop in sales
volume in Thailand.
Note: In the geographical segment information, Japan includes Mitsubishi
Motors and its domestic consolidated subsidiaries. Explanations
of overseas operating performance are provided for overseas
consolidated subsidiaries in their respective regions. Information
on the “Overview of Operations by Region” on pages 16–21 are
principally divided according to the location of external customers.
As a result, values are different.
Analysis of Financial Position
Analysis of Assets, Liabilities, Net Assets, and Cash Flows
Assets at the end of the period totaled ¥1,582.8 billion, an
increase of ¥38.9 billion over the end of fiscal 2013. Liabilities
totaled ¥912.0 billion, reduction of ¥81.9 billion compared to the
end of fiscal 2013. Net assets totaled ¥670.8 billion, an increase
of ¥120.8 billion over the figure for the end of fiscal 2013.
Cash flows from operating activities came to a net inflow of
¥177.0 billion. This compared to a net inflow of ¥210.4 billion
in fiscal 2013.
Cash flows from investing activities came to a net outflow of
¥71.3 billion due to disbursements related to the acquisition of
tangible fixed assets. This compared to a net outflow of ¥81.4
billion in fiscal 2013.
Cash flows from financing activities came to a net outflow
of ¥131.5 billion, due to disbursements related to repayments
of long-term borrowings and payment of dividends. This com-
pared to a net outflow of ¥82.1 billion in fiscal 2013.
As a result, the balance of cash and cash equivalents at the
end of fiscal 2014 stood at ¥395.5 billion. This compared to a
balance of ¥411.7 billion at the end of fiscal 2013.
Cash Flow Indicators
(FY) 2010 2011 2012 2013 2014
Shareholders’ equity ratio (%)* 18.2 19.5 23.4 35.0 41.6
Shareholders’ equity ratio*
(fair value basis) 43.0 39.4 41.0 68.8 67.4
Cash flows/Interest-bearing
debt ratio 3.8 2.9 2.1 1.1 0.8
Interest coverage ratio 7.9 8.5 15.9 22.3 41.0
* The shareholders’ equity ratio is shareholders’ equity divided by total assets
(Minority interests excluded from shareholders’ equity from the year ended
March 31, 2007).
The shareholders’ equity ratio (fair value basis) is market capitalization
divided by total assets.
The cash flows/interest-bearing debt ratio is interest-bearing debt divided
by cash flow.
The interest coverage ratio is cash flow divided by interest paid.
Notes:
1. Each indicator is calculated from consolidated financial figures.
2. Market capitalization is calculated based on the number of issued shares
excluding treasury stock.
3. Cash flow refers to operating cash flow.
4. Interest-bearing debt includes all liabilities recorded on the balance sheet
for which interest is paid.
20142013201220112010
Total Assets
(Billions of yen)
(FY)
1,312.5 1321.3
1,452.8
1,543.9 1,582.8
20142013201220112010
Interest-Bearing Debt
(Billions of yen)
(FY)
397.9
348.1 364.4
222.4
144.5
20142013201220112010
Net Assets
(Billions of yen)
(FY)
248.1 265.6 351.2
550.0
670.8