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Operating Performance and Forecast
FY2012 (Actual) FY2013 (Actual) FY2014 (Forecast)
Sales Volume (Retail) 987 1,047 1,182
Net Sales 1,815.1 2,093.4 2,300.0
Operating Income 67.4 123.4 135.0
Operating Income Ratio
3.7% 5.9% 5.9%
Net Income 38.0 104.7 110.0
Net Income Ratio 2.1% 5.0% 4.8%
FY
2
0
1
2
(
Actual
)
FY
2
01
3
(
Actual
)
F
Y
2014
(
Forecast
)
Sa
le
s
Vo
lu
me
(
Retail
)
98
7
1
,
0
47 1
,
1
82
Net Sales
1,
815.
1
2,
0
93.4
2,
300
.
0
O
peratin
g
Income
67
.
4
1
2
3
.4
13
5.
0
Operat
i
ng Income Rat
io
3.
7%
5.
9%
5.
9%
Ne
t
I
ncome
38
.
0
10
4.
7
1
1
0
.
0
N
et
In
co
m
e
R
at
i
o
2.
1
%
5
.
0%
4.
8%
In  scal 2014, we expect a full year of sales of the eK Series to
contribute to sales in Japan, boosting unit sales in this market
by 4,000 units, or 3%, compared with  scal 2013 levels. In
North America, by leveraging the Outlander Sport we antici-
pate a sales increase of 12,000 units, or 13%, stemming from
the higher sales of the new-model Outlander and Mirage. As
Western Europe emerges from recession, we expect European
sales to expand by 23,000 units, or 11%, partly due to higher
sales of the Outlander PHEV. In Asia, we expect sales in China
to increase, centered on ASX and Pajero Sport models produced
by GAC Mitsubishi Motors. We also anticipate higher sales in
Thailand, owing to the introduction of the new-model Triton
and ongoing increases in sales volume in Indonesia and the Phil-
ippines. Consequently, we anticipate sales in this region to rise
87,000 units, or 25%, compared with  scal 2013 levels. Owing
to these  gures, we expect overall sales volume in  scal 2014
to reach 1,182,000 units in  scal 2014, up 135,000, or 13%,
compared with  scal 2013.
In keeping with these sales volume forecasts, we anticipate
net sales of ¥2,300.0 billion, operating income of ¥135.0 billion
and net income of ¥110.0 billion. These results would mean hit-
ting the ¥135.0 billion operating income target outlined in our
New Stage 2016 mid-term business plan two years earlier than
expected when we announced the plan in November 2013.
2014
(Target)
2013
(Actual)
Japan
Regional Sales Volume (Retail)
(Thousands of units)
(FY)
(Thousands of units)
(FY)
(Thousands of units)
(FY)
(Thousands of units)
(FY)
Registered
Vehicles
Minicars
2014
(Target)
2013
(Actual)
North America
United
States
Canada &
Mexico
2014
(Target)
2013
(Actual)
Europe
Western
Europe &
Others
Russia &
others
2014
(Target)
2013
(Actual)
Asia
North Asia
ASEAN
(Thousands of units)
(FY) 2014
(Target)
2013
(Actual)
Other Regions
Australia
& NZ
Latin
America
Middle East
& Africa
143
91
52
93
54
97
66
31
109
71
38
202
91
111
225
83
142
344
101
243
431
280
151
261
77
81
103
270
91
99
80
147
Message from Management
Forecasts for Fiscal 2014
(Billions of yen, thousands of units)
MITSUBISHI MOTORS CORPORATION
Annual Report 2014
10