Mitsubishi Motors Corp. said Wednesday it suffered 31.49 billion yen in consolidated net losses in the first half of the business year, but predicted it will break even for the full year through March 31.
The half-year loss was smaller than in the same term last year, when the troubled automaker incurred interim losses of 75.6 billion yen on extraordinary costs amid a recall scandal and restructuring expenses.
MMC, whose controlling stake is held by German-U.S. auto giant DaimlerChrysler AG, registered 27.38 billion yen in pretax losses for the April-September period, compared with 29.47 billion yen in pretax losses a year earlier.
Its operating losses came to 13.06 billion yen, compared with 23.22 yen in operating losses in the corresponding six-month period last year.
MMC said its group sales totaled 1.532 trillion yen, slipping 0.6 percent from a year earlier, due to the sluggish demand in the domestic market.
For the whole year, MMC projects 10 billion yen in pretax profits and zero net profits, on group sales of 3.3 trillion yen.