(Bloomberg) — Mitsubishi Motors Corp. slashed its annual profit and sales outlook, becoming the latest Japanese automaker hit by sputtering global demand and a stronger yen.Operating profit for the fiscal year through March 2020 will be 30 billion yen ($275 million) instead of 90 billion yen, the company said in a statement Wednesday, citing decreases in wholesale volumes and the impact of currency swings that erode income brought home. The revenue outlook for the period was cut 5% to 2.45 trillion yen.The gloomy outlook underscores the challenges facing other Japanese carmakers, including Toyota Motor Corp., which reports results Thursday, as …read more
Source:: Yahoo Finance
