Mitsubishi 2009 Annual Report Download - page 33

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08
07
06
05
04
353.4
353.9
503.8
447.8
476.0
0 100 200 300 400 500 600
0 500 1,000 1,500 2,000
08
07
06
05
04
1,138.0
1,609.4
1,778.7
1,557.6
1,589.3
Interest-bearing DebtTotal Assets
(FY)
(FY)
(¥ billion) (¥ billion)
Net Sales and Income
Net sales totaled ¥1,973.6 billion, a year-on-year decrease of
¥708.5 billion or 26%, mainly due to declining vehicle sales and
the negative effects of a stronger yen.
Due to lower vehicle sales and the appreciation of the yen,
operating income fell by ¥104.7 billion compared to the previous
fiscal year. Even so, MMC recorded an operating profit of ¥3.9
billion owing to the current efforts in implementing cost reduc-
tion measures and the improvements achieved through the struc-
tural reforms executed in fiscal 2007.
Despite improvements in net interest and foreign exchange
gains/losses, the decline in operating income led to a loss in
ordinary income, which fell from an ordinary profit of ¥85.7 billion
in the previous fiscal year to a loss of ¥14.9 billion.
Due to the drop in ordinary income, net income fell from a
net profit of ¥34.7 billion in the previous fiscal year to a loss of
¥54.9 billion. Extraordinary losses include an asset impairment
loss of ¥27.5 billion.
Segment Analysis
Business Segment Information
1. Automobiles
In fiscal 2008, net sales in the automotive business sector totaled
¥1,961.6 billion (down 26.2% compared to the previous fiscal
year), and operating income was ¥3.4 billion, a decrease of ¥92.4
billion compared to the previous fiscal year.
2. Financial Services
In fiscal 2008, net sales in the financial services sector was ¥11.9
billion (a 51.6% decline compared to the previous fiscal year) and
operating income was ¥400 million (a decrease of ¥12.4 billion).
Geographical Segment Information
•Japan
In Japan, mainly due to a decrease in vehicle sales, net sales
were ¥1,600.2 billion (a decrease of 20.8% compared to the
previous fiscal year), and operating income fell to ¥2.6 billion
(down ¥80.3 billion).
•NorthAmerica
In North America, a substantial drop in vehicle sales resulted in
net sales of ¥232.1 billion (down 40.9% compared to the previous
fiscal year) and an operating loss of ¥23.6 billion (down from an
operating loss of ¥10.6 billion).
31
Annual Report 2009 MITSUBISHI MOTORS CORPORATION