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

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Mitsubishi Motors : Becomes Thailand's Largest Vehicle Exporter in Fiscal 2016

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04/26/2017 | 12:23pm CEST

TOKYO, Apr 26, 2017 - (ACN Newswire) - Mitsubishi Motors has outpaced other large international car makers to become the number-one automotive exporter in Thailand for the first time with total export volume of 309,915 units for the 12-month period ending March 31st, 2017.

The company's export performance means that its Laem Chabang factory in Thailand is now the largest global production hub for Mitsubishi Motors, more than 80% of all local production sold for export.

The record export performance coincides with a visit by Carlos Ghosn to the Laem Chabang Industrial Estate today - his first since becoming chairman of Mitsubishi Motors last December. The plant's production capacity is largest in Mitsubishi Motors' factories in the world, and vehicles are exported to over 120 countries worldwide.

"The Laem Chabang plant in Thailand is a tremendous strength of Mitsubishi Motors' business," said Mr Ghosn. "Our world-class production facilities are capable of producing 424,000 vehicles a year. As Thailand's leading automotive exporter, this factory has become the global production hub for Mitsubishi Motors."

Last fall, Mitsubishi Motors joined as a member of the Renault-Nissan Alliance, one of the world's top three auto groups with annual unit sales of almost 10 million vehicles. Mitsubishi Motor's Thai business will deliver synergies through sharing of best practice on cost controls, parts sourcing and productivity. The growth of Mitsubishi Motors will be supported by better procurement, improved logistics, better plant utilization and access to technology sharing and common vehicle platforms, reflecting the Alliance's larger investment in research and development.

Mitsubishi Motors Thailand operates four plants in Thailand that employ more than 6,000 workers. Last fiscal year, the company's Thai operations produced 356,000 vehicles.

The main export destinations are Europe (28%), ASEAN and Asia region (25%), North America (21%), Oceania (12%), Others (14 %).

About Mitsubishi Motors

Mitsubishi Motors Corporation is the fifth largest automaker in Japan and the fifteenth largest in the world by global unit sales. It is part of the Mitsubishi keiretsu, formerly the biggest industrial group in Japan, and was formed in 1970 from the automotive division of Mitsubishi Heavy Industries.

Throughout its history it has courted alliances with foreign partners, a strategy pioneered by their first president Tomio Kubo to encourage expansion, and continued by his successors. A significant stake was sold to Chrysler Corporation in 1971 which it held for 22 years, while DaimlerChrysler was a controlling shareholder between 2000 and 2005. Long term joint manufacturing and technology licencing deals with the Hyundai Motor Company in South Korea and Proton in Malaysia were also forged, while in Europe the company co-owned the largest automobile manufacturing plant in the Netherlands with Volvo for ten years in the 1990s, before taking sole ownership in 2001.

Contact:

Mitsubishi Motors
Public Relations Department
http://www.mitsubishi-motors.com
+81-3-6852-4275

Copyright 2017 JCN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials ( JPY)
Sales 2017 1 877 277 M
EBIT 2017 -
Net income 2017 -196 400 M
Finance 2017 413 665 M
Yield 2017 1,39%
P/E ratio 2017 -
P/E ratio 2018 14,95
EV / Sales 2017 0,32x
EV / Sales 2018 0,30x
Capitalization 1 020 844 M
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Mean consensus HOLD
Number of Analysts 11
Average target price 643  JPY
Spread / Average Target -6,1%
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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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