Mitsubishi 2012 Annual Report Download - page 11

 MMC is striving to expand sales in emerging
markets, centered on the ASEAN region.
Mitsubishi Motors has identi ed China, Russia, the ASEAN re-
gion and Brazil as key markets, and is working to increase sales
in these areas. Our business in the ASEAN region was affected
by the 2011  ooding in Thailand, which caused us to suspend
operations at our plants there for approximately one month and
led to product shortages on the sales front. Despite this situation,
in  scal 2011 our sales volume in Thailand ultimately rose 55%
year on year, to 74,000 units. Sales likewise increased by 24%
in Indonesia, to 70,000 units, and rose 24%, to 200,000 units,
for the entire ASEAN region. We are stepping up our initiatives
for Thailand and Indonesia, where we aim to achieve sales of
100,000 vehicles in  scal 2012 and  scal 2013, respectively.
By  scal 2013, the  nal year of our mid-term business plan,
“Jump 2013,” we aim to reach a sales volume of 1.37 million
units. In the year prior to that,  scal 2012, we expect to steadily
boost sales in emerging markets, particularly the ASEAN region,
which continue to grow. We plan to achieve this expansion
through the global rollout of our new Mirage and Outlander
models. For  scal 2012, we anticipate a sales volume of 1.09
million units, up 89,000 units, or 9%, from  scal 2011. Howev-
er, we expect to incur upfront costs during the year, as we work
to sow the seeds for future growth by aggressively promoting
emerging market and environmental initiatives in the areas of
product development, production and sales to achieve “Growth
and Leap Forward.” Consequently, for  scal 2012 we forecast
net sales of ¥1,980 billion, operating income of ¥80 billion and
net income of ¥13 billion.
Finally, we consider our capital strategy to be of utmost
importance for Mitsubishi Motors. Although we have not paid
dividends on common stock for some time, during the term of
“Jump 2013,” our mid-term business plan ending in  scal 2013,
we aim to resume dividend payments. First, it is essential for us
to push forward resolutely toward “Growth and Leap Forward”
under “Jump 2013” and demonstrate improved pro tability to
our shareholders. With this in mind, we will move forward with
unyielding resolve to make a comprehensive proposal to share-
holders that includes dealing with preferred shares.
Sales Initiatives
Performance Forecast
FY2011 (Actual) FY2012 (Forecast) FY2013 (Target)
Sales Volume (Retail) 1,001 1,090 1,370
Net Sales 1,807.3 1,980.0 2,500.0
Operating Income 63.7 80.0 90.0
Operating Income Ratio 3.5% 4.0% 3.6%
Net Income 23.9 13.0 45.0
Net Income Ratio 1.3% 0.7% 1.8%
FY
Y
20
1
1
(
Actual
)
F
Y
20
1
2
(
Fo
r
ecast
)
FY
2
013
(
Target
)
Sa
l
es
V
o
l
u
m
e
(
Retail)
1,
00
1
1,
090
1,
3
7
0
Ne
t
Sa
le
s
1,
80
7.
3
1
,
980
.
0
2,
500
.
0
Op
erat
i
ng Income
63
.7
80
.0
90
.0
Operat
i
ng Income Rat
i
o
3.
5
%
4
.
0%
3.
6
%
N
et
In
co
m
e
23
.
9
13
.
0
45
.0
N
et
In
co
m
e
R
atio
1.
3
%
0
.
7%
1.
8
%
Operating Performance
(Billions of yen, thousands of units)
MITSUBISHI MOTORS CORPORATION
Annual Report 2012 9