Mitsubishi Motors Corp. on Friday raised its full-year earnings forecast for the business year through March despite a decline in sales, thanks to the weaker yen and cost reductions.
The automaker now expects a group net profit of ¥100 billion, up from the earlier projected ¥70 billion.
Operating profit is expected to reach ¥120 billion, up from ¥100 billion, on sales of ¥2.11 trillion, down from ¥2.13 trillion.
One reason for raising the forecasts is the yen, which has slid further against the dollar since its earnings projections in late October, when yen-weakening "Abenomics" was just a concept.
The automaker also said its profits have been boosted on brisk sales of its Outlander plug-in hybrid electric vehicle as well as improvements in its model mix in Thailand.