Mitsubishi Motors Corp (MMTOF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone. Thank you very much for taking time out of your busy schedule to join our results meeting today. Before I begin, I would like to express my heartfelt sympathy to everyone affected by the recent earthquake in Kumamoto and pray for the region's earliest possible recovery and for everyone's safety. First, let me briefly explain the key points of our results for the first quarter of FY2026 and our initiatives to achieve the four-year outlook. In the first quarter, despite the impact of the Middle East situations and changes in the market environment, stronger sales measures and various profit improvement initiatives delivered increases in both revenue and profit. Net income also was positive. Net sales increased by 10.8 billion yen year on year, and operating profit improved by 4.5 billion yen. I will explain the impact of the situation in the Middle East on the next page. Toward the four-year outlook, we will respond nimbly to market changes. to steadily capture sales opportunities and expand destination markets for the models launched in the second half of last year and successfully launched the all-new Peugeot to achieve our sales plan. Next, an update on the impact of the situation in the Middle East. In the first quarter, the impact was approximately 15,000 units on sales and about 10 billion yen on operating profit plus a cost impact of about 2 billion yen. mainly due to higher logistic costs. These impacts were within the 30 billion yen annual impact incorporated into our initial outlook. In the Philippines, demand slowed sharply on fuel shortages and higher prices, but the market is now showing signs of recovery. In Thailand and Australia, the sales environment remains challenging due to an accelerated shift toward electrified vehicles a...