AutoBeta(AutoBeta.net)05/18 Report--

Mitsubishi Motors said on Friday that Mr. Yoshiko would resign as chief executive on June 21 and that Mr. Kato, president of the Indonesian business, would take over, and that Mr. Yoshiko would continue to serve as chairman of Mitsubishi's board.

In fiscal year 2018, net sales of Mitsubishi Motors reached 251.46 billion yen (about 15.766 billion yuan), an increase of 14.7 percent over the same period last year, while operating profit reached 111.8 billion yen (about 7.009 billion yuan), an increase of 14 percent over the same period last year. Net income reached 132.87 billion yen (8.33 billion yuan), an increase of 24% over the same period last year

In the 2019 fiscal year forecast, Mitsubishi Motors lowered its revenue forecast for next year to 90 billion yen (5.643 billion yuan), down 19.5% from a year earlier. Mitsubishi explained the impact of falling demand for new cars and tighter emissions policies due to the global economic slowdown.

The personnel transfer had nothing to do with the arrest of partner Nissan Ghosn.

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