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Mitsubishi Motors says now expects operating loss for FY2016
October 19, 2016 / 7:15 AM / in a year

Mitsubishi Motors says now expects operating loss for FY2016

TOKYO, Oct 19 (Reuters) - Japan’s Mitsubishi Motors Corp said on Wednesday it now expects to post an operating loss for the year ending next March, hurt by additional expenses and a stronger yen.

The automaker projected an operating loss of 28 billion yen ($270 million) instead of the previous forecast for a 25 billion yen profit.

It now expects a net loss of 240 billion yen, deeper than the earlier forecast for a 145 billion yen loss, also due to an impairment loss on a domestic factory and a slower-than-expected recovery in emerging markets.

$1 = 103.5800 yen Reporting by Taiga Uranaka; Editing by Chang-Ran Kim

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