Mitsubishi 2010 Annual Report Download - page 33

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0
09
08
07
06
05
1,258.7
1,138.0
1,609.4
1,778.7
1,557.6
500 2,0001,500
1,000
0
09
08
07
06
05
353.4
353.9
503.8
447.8
100 200 600500400
300
392.7
(FY) (FY)
(¥ billion) (¥ billion)
Total Assets Interest-bearing Debt
Net Sales and Income
Net sales decreased ¥528.0 billion, or 27% year on year, to
¥1,445.6 billion, due largely to a steep drop in vehicle sales
in the first half of the year and the impact of the appreciation
of the yen.
Operating income was up ¥10.0 billion year on year to
¥13.9 billion, stemming from the continuation of thorough
emergency cost-cutting measures that MMC undertook in
the second half of fiscal year 2008 in response to an unprec-
edented economic crisis.
Ordinary income came to ¥13.0 billion, an improvement
of ¥27.9 billion from an ordinary loss a year earlier. This
mainly reflected improved operating income, as well as an
improvement of ¥17.9 billion in net non-operating income
(expenses), which includes foreign exchange gains (losses)
and equity in earnings (losses) of affiliates.
An improvement of ¥27.9 billion in ordinary income and a
large decrease in extraordinary impairment loss led to a net
income of ¥4.8 billion, improving ¥59.7 billion from a net loss
in the previous year.
Segment Analysis
Business Segment Information
1. Automobiles
Net sales in the automotive business sector came to ¥1,434.7
billion (a decrease of ¥526.8 billion, or 27%, year on year).
Operating income came to ¥11.5 billion, up ¥8.1 billion year
on year.
2. Financial Services
Net sales in the financial services sector came to ¥10.9 billion,
down ¥1.0 billion, or 9% year on year. Operating income rose
¥2.0 billion year on year to ¥2.4 billion.
Geographical Segment Information
• Japan
In Japan, net sales came to ¥1,243.9 billion, down ¥356.3
billion, or 22.3% year on year, largely because of a drop in
vehicle sales and the yen’s appreciation. MMC recorded an
operating loss of ¥9.8 billion, worsening ¥12.4 billion from
operating income in the previous year, mainly due to lower
net sales (Lower net sales; shift to a loss).
• North America
In North America, net sales came to ¥166.0 billion, down
¥66.1 billion, or 28.5% year on year, owing to a substantial
decline in vehicle sales. The operating loss came to ¥4.4
billion, a ¥19.2 billion improvement from the previous year,
reflecting lower advertising and other costs (Lower net sales;
smaller operating loss).
• Europe
In Europe, net sales came to ¥191.0 billion, down ¥165.1
billion, or 46.4% year on year as a result of a large drop in
vehicle sales. MMC recorded operating income of ¥5.1 billion,
an improvement of ¥9.6 billion year on year. This was due to
reduced selling and labor costs, mainly as a result of the
31
MITSUBISHI MOTORS CORPORATION Annual Report 2010