Mitsubishi 2013 Annual Report Download - page 32

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Geographical Segment Information
• Japan
In Japan, sales totaled ¥1,444.6 billion, a decrease of ¥70.5 billion
or 5% year on year due to lower unit sales. Operating income
came in at ¥9.3 billion, a decrease of ¥16.5 billion or 64%.
• North America
In North America, sales totaled ¥175.1 billion, a decrease of
¥13.6 billion or 7% over fiscal 2011, driven mainly by lower
unit sales. The operating loss was ¥6.0 billion.
• Europe
In Europe, sales came in at ¥120.8 billion, a decrease of ¥82.8
billion or 41% over fiscal 2011 mainly due to lower unit sales.
Operating income was ¥11.3 billion, up ¥2.8 billion or 34%
on fiscal 2011, due to profit improvements from reduction in
fixed costs.
• Asia and Other Regions
In Asia and Other Regions, sales amounted to ¥850.7 billion, an
increase of ¥215.4 billion or 34%, driven by higher unit sales,
mainly in the ASEAN region. Despite a decrease in operating
income due to foreign exchange rate fluctuations, sales volume
increased, resulting in an operating income of ¥55.7 billion, up
¥17.9 billion or 47% year on year.
Note: In the geographical segment information, Japan includes Mitsubishi Motors
and its domestic consolidated subsidiaries. Explanations of overseas operat-
ing performance are provided for overseas consolidated subsidiaries in their
respective regions. Information on the “Overview of Operations by Region”
on pages 16–20 are principally divided according to the location of external
customers. As a result, values are different.
Analysis of Financial Position
Analysis of Assets, Liabilities, Net Assets, and Cash Flows
As of March 31, 2013, total assets came to ¥1,452.8 billion,
up ¥131.5 billion from the end of last fiscal year. Liabilities
totaled ¥1,101.6 billion, an increase of ¥45.9 billion compared
to the end of last fiscal year. Net assets totaled ¥351.2 billion,
an increase of ¥85.6 billion over the figure for the end of the
previous fiscal year.
Net cash provided by operating activities was ¥172.2 billion,
due mainly to profits from sales of shares in an affiliate compa-
nies. This compared to ¥119.4 billion in net cash provided by
these activities in the previons fiscal year.
Net cash used in investing activities was ¥114.3 billion, due
mainly to sales of shares in a subsidiary. This compared to
¥69.1 billion in net cash used in these activities in the previons
fiscal year.
Net cash used in financing activities totaled ¥8.3 billion. This
compared to ¥52.6 billion in net cash used in these activities
the previons fiscal year.
The balance of cash and cash equivalents as of March 31,
2013, stood at ¥361.2 billion. This compared to a balance of
¥311.0 billion one year earlier.
Cash Flow Indicators
(FY) 2007 2008 2009 2010 2011 2012
Shareholders’ equity ratio (%) 19.7 18.8 17.8 18.2 19.5 23.4
Shareholders’ equity ratio
(fair value basis) 56.4 60.8 55.9 43.0 39.4 41.0
Cash flows/Interest-bearing
debt ratio 1.9 — 3.9 3.8 2.9 2.1
Interest coverage ratio 8.6 — 7.4 7.9 8.5 15.9
* The shareholders’ equity ratio is shareholders’ equity divided by total assets
(Minority interests excluded from shareholders’ equity from the year ended
March 31, 2007).
The shareholders’ equity ratio (fair value basis) is market capitalization
divided by total assets.
The cash flows/interest-bearing debt ratio is interest-bearing debt divided
by cash flow.
The interest coverage ratio is cash flow divided by interest paid.
Notes:
1. Each indicator is calculated from consolidated financial figures.
2. Market capitalization is calculated based on the number of issued shares
excluding treasury stock.
3. Cash flow refers to operating cash flow.
4. Interest-bearing debt includes all liabilities recorded on the balance sheet
for which interest is paid.
20122011201020092008
Total Assets
(Billions of yen)
(FY)
1,138.0 1,258.7 1,312.5 1,321.3
1,452.8
20122011201020092008
Interest-Bearing Debt
(Billions of yen)
(FY)
353.4
392.7 397.9
348.1 364.4
20122011201020072008
Net Assets
(Billions of yen)
(FY)
223.0 234.5 248.1 265.6
351.2
MITSUBISHI MOTORS CORPORATION
Annual Report 2013
30