Mitsubishi Motors Corp. forecast its first loss in eight years after setting aside compensation costs related to manipulating fuel-efficiency ratings and falsifying test data.
Net loss in the year ending March 31 will probably be ¥145 billion ($1.4 billion), the company said in a statement Wednesday. That compares with the ¥60.03 billion average loss of eight analysts' estimates compiled by Bloomberg. Mitsubishi Motors sees a ¥205 billion impact from fuel tests this fiscal year.
The forecast comes after Chairman Osamu Masuko said the company aims to resume minicar production early next month and is prepared for some price cuts. Mitsubishi Motors last week made additional disclosures about the extent of the manipulation in mileage ratings and falsified test data, in a scandal that has damaged its brand, claimed two top executives and forced the automaker to turn to Nissan Motor Co. for a bail out.