Mitsubishi 2006 Annual Report Download - page 6

Download and view the complete annual report

Please find page 6 of the 2006 Mitsubishi annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

4MITSUBISHI MOTORS CORPORATION ANNUAL REPORT 2006
Takashi Nishioka
Chairman of the Board
Osamu Masuko
President
To Our Shareholders and Stakeholders
On March 31, 2006, Mitsubishi Motors Corporation (MMC) completed the first fiscal year of the three-year
Mitsubishi Motors Revitalization Plan, which was unveiled on January 28, 2005 and covers fiscal years
2005 to 2007.
Progress was made in the two primary themes of the plan, to win back customer confidence and improve
earnings. All corporate officers and employees united to execute each and every initiative of the plan. We’re
pleased to report that sales volumes and net sales were largely in line with forecasts for fiscal year 2005 and
operating profitability moved back into the black one year earlier than planned. We want to thank our shareholders
and stakeholders for their support and guidance in the wake of MMC’s management crisis of 2004. We also want
to thank all MMC employees in all regions around the world for their efforts.
Heading into the plan’s second year, we face an increasingly challenging operating environment with sales
slow to recover in certain markets and other factors at play such as high crude oil prices and rising materials
costs. Most importantly, we have yet to achieve bottom-line profitability. Nevertheless, we are committed and
determined to clear each and every one of the hurdles that remain to revitalize the company.