OREANDA-NEWS. Mitsubishi Motors Corporation (MMC) announced its sales and financial results for the first quarter of the 2014 fiscal year (1Q FY2014) ending March 31, 2015.

MMC posted consolidated net sales of 513.8 billion yen over 1Q FY2014 (April 1 through June 30, 2014), a 25% or 104.4 billion yen increase over the same period last fiscal year.

MMC posted an operating income of 31.0 billion yen, an increase of 93% or 15.0 billion yen over the same period last fiscal year. Improvement in model mix, continuous efforts on reducing costs, as well as favorable foreign exchange rates contributed to the increase.

Other items include ordinary income at 32.6 billion yen, a 46% or 10.3 billion yen increase, and a net income of 28.2 billion yen, a 71% or 11.8 billion yen increase, both year-on-year. All profit indicators including operating income, ordinary income, and net income were all-time record highs for a first quarter. In particular, operating income for 1Q FY2014 marked five straight year-on-year first quarter increases.

Global retail sales volume for 1Q FY2014 totaled 258,000 units, a 4% or 9,000-unit increase over the same period last fiscal year.