Mitsubishi 2010 Annual Report Download - page 19

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0100
10
09
08
07
210.0 (Forecast)
175.4
232.2
402.7
400 500200 300
–50 –40
10
09
08
07
–27.0 (Forecast)
–28.2
–39.6
–17.8
–10 0–30 –20
050
10
09
08
07
109 (Forecast)
88
119
172
150 200
100
* Puerto Rico’s results have been classified under “Asia and Other Regions” from 2008.
09FY/4Q 10FY/1Q 10FY/2Q 10FY/3Q 10FY/4Q
Japan*
Europe*
North Asia (China)
ASEAN
Australia
Middle East and Africa
North America
Central and South America
* RVR in Japan, ASX in Europe
North America
Fiscal Year 2009 Performance
Retail Sales
Retail sales in the North American market fell 31,000 units, or 26%, year on
year to 88,000 units in fiscal year 2009. Retail sales dropped in the U.S. and
Mexico, where aggregate demand had fallen from the previous fiscal year,
although retail sales rose year on year in Canada where the Outlander per-
formed well.
Net Sales and Operating Income (Loss)
[Decreased sales, reduced loss]
Net sales in North America declined ¥56.8 billion, or 24% year on year to
¥175.4 billion, reflecting lower retail sales. Despite the impact of the drop in
retail sales and the yen’s appreciation, operating loss improved by ¥11.4
billion year on year to ¥28.2 billion due to cost reductions, especially selling
expenses and materials costs.
Outlook for Fiscal Year 2010
Retail Sales
MMC is targeting retail sales of 109,000 units, an increase of 21,000 units, or
24%, year on year. In the U.S., a mild recovery of aggregate demand is
anticipated; moreover unit sales are expected to rise year on year with the
introduction of a new compact SUV in the second half of the fiscal year.
Similarly, MMC is targeting sales increases in Canada and Mexico.
Net Sales and Operating Income (Loss)
[Increase in sales, reduction of loss]
MMC is targeting net sales of ¥210.0 billion, up ¥34.6 billion, or 20%, year
on year, mainly reflecting increased retail sales. MMC is projecting an operat-
ing loss of ¥27.0 billion, an improvement of ¥1.2 billion year on year. The
reason for this operating loss improvement is that MMC expects cost reduc-
tions, such as materials costs, as well as increased retail sales to more than
offset the reduced earnings incurred by increased selling expenses and
development expenses.
Net Sales
Global Rollout of the New Compact SUV
Operating Loss
Retail Sales
(FY)
(FY)
(FY)
(¥ billion)
(¥ billion)
(Thousand
units)
We plan to increase unit sales as overall demand recovers. In the second half
of the fiscal year we will introduce the new compact SUV.
Fumio Kuwayama
Executive Officer, Head Officer of the Headquarters, Overseas Operations Group Headquarters B
17
MITSUBISHI MOTORS CORPORATION Annual Report 2010