Japanese automaker Mitsubishi ended its first quarter with net income of 20 billion yen. The progress compared to the same period last year is 367% although largely influenced by extraordinary items due to the sale of its equity portfolio.
However, the company also sees a 22% improvement in operating profit to 14,9 billion yen, a sign that despite the decline in car sales (-11% to 239 units with revenues down 3% to 419,3 .48 billion), the company reaped strong benefits from its cost-containment program. In the quarter, Mitsubishi calculates that it has achieved benefits, including savings and reductions in raw material costs, for 33 billion, managing to offset the XNUMX billion due to the strengthening of the yen.
