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4-Traders Homepage  >  Equities  >  Tokyo  >  MITSUBISHI MOTORS CORPORATION    7211   JP3899800001

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Mitsubishi Motors : Starts Production of Mirage G4 in the Philippines - First vehicle to go into production under CARS Program

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02/20/2017 | 12:14pm CET

Release date- 17022017 - Tokyo, - Mitsubishi Motors Corporation (MMC) announces that production of the Mirage G4 (Philippine market name; Attrage in some other markets) has started at the vehicle assembly plant of Mitsubishi Motors Philippines Corporation (MMPC) *1.

Mirage G4 is the first model to go into production under the Philippine government's Comprehensive Automotive Resurgence Strategy (CARS) Program.

*1:The sole manufacturer and distributor of MMC in the Philippines

MMPC's plant in Santa Rosa, Laguna Province has an annual capacity of 50,000 vehicles. In May this year, the Mirage model will follow the Mirage G4 (Attrage) into production.

MMPC started production in 1964. In 2009, and then in May 2016, it became the first auto company in the Philippines to reach a cumulative production volume of 500,000 and 600,000 vehicles respectively. MMC posted 59,480 units (market share of 15.3%) of sales for the calendar year 2016, a 12.9% increase from the previous year, recording the highest sales volume in ten consecutive years.

MMPC Outline

Established:			Feb. 1963
Headquarters / Plant:		Santa Rosa, Laguna Province (45km southeast of Manila)
Capital:			1.64 billion PHP
Scope of operations:		Production and sales of MMC vehicles
Representative:			Yoshiaki Kato, President and CEO
Stockholders:			MMC 51%, Sojitz Corporation 49%
Annual production capacity: 	50,000 units
Site area:			21.4 hectares
Number of employees 		Approx. 1,400 employees (as of December 2016)

(c) 2017 Electronic News Publishing -, source ENP Newswire

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Financials ( JPY)
Sales 2017 1 876 520 M
EBIT 2017 -
Net income 2017 -201 080 M
Finance 2017 395 826 M
Yield 2017 1,42%
P/E ratio 2017 -
P/E ratio 2018 14,25
EV / Sales 2017 0,32x
EV / Sales 2018 0,30x
Capitalization 1 002 960 M
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Mean consensus HOLD
Number of Analysts 12
Average target price 692  JPY
Spread / Average Target 2,8%
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Osamu Masuko President, CEO & Representative Director
Carlos Ghosn Bichara Chairman
Trevor Mann Chief Operating Officer
Masao Kuruma Chief Information Officer
Harumi Sakamoto Non-Executive Director
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