Mitsubishi Motors loss widens
published: Tuesday | May 24, 2005

TOKYO:

MITSUBISHI MOTORS Corporation's loss widened to US$4.4 billion and sales tumbled 16 per cent for the latest fiscal year, as the Japanese automaker struggles to regain customer trust in the wake of a defect cover-up scandal in Japan. It expects to post a smaller loss for this year as sales pick up in Japan, as well as overseas.

The Tokyo-based company's loss of 474.8 billion yen for the fiscal year ended March 31, was its second straight year in the red, and its loss was more than twice as large as its loss of 215 billion yen (US$2 billion) the previous fiscal year.