MITSUBISHI MOTORS, The Current Fiscal Year Ordinary Profit Revised Downward by 53%

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Mon Feb 3, 2025 4:05 pm JST Earnings

7211 MITSUBISHI MOTORS CORPORATION 【J-GAAP】

Earnings Report

MITSUBISHI MOTORS CORPORATION <7211> [TSE Prime] announced its financial results after the market closed on February 3rd (16:05). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) significantly dropped 52.7% from the same period last year to 78.5 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 52.6%, from the previous forecast of 190 billion yen to 90 billion yen (compared to 209 billion yen in the previous period), leading to an increase in the profit decline rate from 9.1% to 56.9%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 82.8%, from the previous forecast of 120 billion yen to 20.7 billion yen (compared to 88 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 76.4% decrease in profit.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit significantly dropped to 9.3 billion yen, a 79.3% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.6% in the same period last year to 2.0%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	1,805,320	153,699	154,737	130,754	87.9	85.0	Feb 2, 2023	J-GAAP
Apr - Dec, 2023	2,063,855	160,101	165,998	102,755	69.0	79.4	Feb 1, 2024	J-GAAP
Apr - Dec, 2024	1,989,291	104,591	78,540	33,230	22.8	87.3	Feb 3, 2025	J-GAAP
YoY	-3.6%	-34.7%	-52.7%	-67.7%	-67.0%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	1,572,618	99,263	120,765	106,049	79.3	7.50	Oct 30, 2024	J-GAAP
Oct - Mar, 2024 New	1,452,618	34,263	20,765	-2,951	-2.2	7.50	Feb 3, 2025	J-GAAP
Revision Rate	-7.6%	-65.5%	-82.8%	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,880,000	190,000	190,000	144,000	107.6	15	May 8, 2024	J-GAAP
Mar, 2025 New	2,760,000	125,000	90,000	35,000	26.2	15	Feb 3, 2025	J-GAAP
Revision Rate	-4.2%	-34.2%	-52.6%	-75.7%	-75.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	1,458,772	86,782	88,093	87,220	58.6	5	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,452,618	34,263	20,765	-2,951	-2.2	7.50	Feb 3, 2025	J-GAAP
YoY	-0.4%	-60.5%	-76.4%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,458,141	190,495	182,022	168,730	113.4	5	May 9, 2023	J-GAAP
Mar, 2024	2,789,589	190,971	209,040	154,709	104.0	10	May 8, 2024	J-GAAP
Mar, 2025 Guidance	2,760,000	125,000	90,000	35,000	26.2	15	Feb 3, 2025	J-GAAP
YoY	-1.1%	-34.5%	-56.9%	-77.4%	-74.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	733,038	55,912	45,051	35,266	23.7	7.6	Feb 1, 2024	J-GAAP
Jan - Mar, 2024	725,734	30,870	43,042	51,954	34.9	4.3	May 8, 2024	J-GAAP
Apr - Jun, 2024	627,522	35,519	42,388	29,468	19.8	5.7	Jul 23, 2024	J-GAAP
Jul - Sep, 2024	679,860	55,218	26,847	8,483	5.7	8.1	Oct 30, 2024	J-GAAP
Oct - Dec, 2024	681,909	13,854	9,305	-4,721	-3.2	2.0	Feb 3, 2025	J-GAAP
YoY	-7.0%	-75.2%	-79.3%	－	－