Mitsubishi Motors Swings To Profit

Mitsubishi Motors Corp MMTOF swung to a profit in the April-December period. Mitsubishi Motors posted a net profit of Y13.63 billion in the nine period, versus a year-ago net loss of Y2.25 billion. Its operating profit surged to Y38.51 billion from Y12.97 billion. Mitsubishi Motors' sales fell 1.4% to Y1.293 trillion, versus Y1.311 trillion. Mitsubishi Motors maintained its forecast of Y20 billion in net profit on sales of Y1.820 trillion for the fiscal year through March. Mitsubishi Motors shares closed at $1.19 yesterday.