(RTTNews) – Japanese automaker Mitsubishi Motors Corp. (MMTOF. PK, 7211) announced on Monday that its first-quarter loss attributable to shareholders consistent with 176.16 billion Japanese yen shareholders, compared to a profit of 9.31 billion yen last year. The fundamental loss is consistent with a consistent percentage of 118.36 yen, compared to earnings consistent with a consistent percentage of 6.26 yen a year earlier.
Operating loss for the period was 53.34 billion yen, compared to profit of 3.86 billion yen last year.
Consolidated sales for the quarter fell 57.2% to 229.55 billion yen from 536.16 billion yen last year.
Looking towards fiscal year 2020, the company expects a loss of 360 billion yen or 241.88 yen consistent with the stake, a consistent loss of 140 billion yen and sales of 1.48 billion yen, 34.8% less than a year ago.
In addition, Mitsubishi Motors stated that its board of directors had to prevent production in the first part of 2021 and close the plant of its domestically produced subsidiary, Pajero Manufacturing Co., Ltd.
The Council must also freeze the advent of new models on the European market. In the meantime, sales of existing models will continue.
In addition, after-sales service will continue, for consumers who prefer to use Mitsubishi products.