Mitsubishi 2012 Annual Report Download - page 22

Net Sales
0
200
400
600
800
1,000
(FY)
2012
(Forecast)
2011201020092008
(Billions of yen)
711.3
632.5
785.4 780.2
960.0
Operating Income
0
30
60
90
120
150
(Billions of yen)
53.3 42.5
89.5
134.0
98.7
(FY)
2012
(Forecast)
2011201020092008
Sales Volume (Retail)
0
150
300
450
600
750
(Thousands of units)
511
622
525
2012
(Target)
2011
(FY)
2010
Performance in scal 2011
Sales volume in China decreased 4% during the year, to 63,000 units, owing to
the impact of nancial tightening and yen appreciation, prompting a 3% drop
in sales volume in North Asia. Meanwhile, in Thailand sales volume surged 55%,
to 74,000 units, buoyed by robust reception to our Triton pickup truck and the
Pajero Sport, a mid-sized SUV. In Indonesia, sales volume rose 24%, to 73,000
units, boosting performance for the ASEAN region 24%. Sales volume fell 2% in
Australia and New Zealand, due to a dip in total demand in Australia as well as to
increasingly severe selling competition. Sales volume in Central and South America
was up 10%, helped by a 21% rise in Brazil, the region’s largest market. In the
Middle East and Africa, however, sales volume dropped 30% year on year, owing
to political unrest in some countries in the region and as demand for Japanese
vehicles decreased due to yen appreciation. Owing to these factors, total sales
volume in Asia and Other Regions was up 14,000 units year on year, or 3%, to
525,000 units, bolstered by performance in Thailand, Indonesia and other coun-
tries in the ASEAN region, as well as in Central and South America.
Net sales slipped ¥5.2 billion, or 1% year on year, to ¥780.2 billion, but op-
erating income increased ¥9.2 billion, to ¥98.7 billion. This rise was a result of
improvements in our product mix and ongoing efforts to reduce costs.
Outlook for scal 2012
In scal 2012, we expect to benet from the start of production of the all-new
Mirage at our third factory in Thailand, and this model’s global rollout, as well as
heightened production capacity for the mainstay Triton at our rst and second
factories in the country. We will also commence local production of the Outlander
Sport, a compact SUV, in Indonesia. Through the introduction of these measures
in the ASEAN region, which are in line with “ASEAN Challenge 12,” we intend to
make steady progress on expanding our business in this area.
In sales volume, we expect the ASEAN region to continue delivering favor-
able results, and look forward to an uptick in Brazil. Therefore, we forecast an
increase of 97,000 units, or 18%, to 622,000 units. In line with the higher sales
volume, we forecast a rise in net sales of ¥179.8 billion, or 23%, to ¥960.0 bil-
lion. Although R&D and indirect labor expenditures and other expenses are likely
to increase as we invest toward future growth, we believe operating income will
rise ¥35.3 billion, or 36%, to ¥134.0 billion, as a result of higher sales volume and
improvements in our product mix.
Asia and Other Regions
By moving steadily forward with measures based on “ASEAN Challenge 12,”
we will work to expand our operations in the ASEAN market and turn it
into a pillar of prots.
Fumio Kuwayama
Executive Ofcer,
Head Ofcer of the Headquarters,
Overseas Operations Group
Headquarters B
Overview of Operations by Region
Hiroshi Harunari
Executive Vice President (Representative Director), Head Ofcer of the
Headquarters, Overseas Operations Group Headquarters A,
In Charge of Overseas Operations Group Headquarters B,
In Charge of Global After Sales Group Headquarters
MITSUBISHI MOTORS CORPORATION
Annual Report 2012
20