TOKYO -- Mitsubishi Motors Corp. is likely to post a half-year group net loss of about 64 billion yen ($545.6 million), smaller than it originally expected as strong domestic sales helped narrow the deficit, the Nihon Keizai newspaper reported on Wednesday.
The automaker, which in May forecast it would post a net loss of 73 billion yen for the six months to Sept. 30, issued a statement describing the report as based on the paper's own speculation.
Mitsubishi Motors CEO Osamu Masuko told Reuters last month that the company's first-half loss was likely to be smaller than expected, supported by stronger sales than originally projected. MMC, which makes the Pajero SUV, will likely leave unchanged its forecast for a net loss of 64 billion yen for the current financial year to March 2006 when it announces its first-half results on Thursday, Nov. 9., the newspaper added.
That would be in line with the consensus projection from eight analysts surveyed by Reuters Estimates.