Mitsubishi Motors Corp. said Wednesday it will post 350 billion yen in parent-only net loss for fiscal 2000, far higher than the 130 billion yen loss estimated earlier.
The automaker, hit by a scandal over its coverup of consumer complaints, said parent-only pretax loss for the fiscal year that ends Saturday will come to 80 billion yen, compared with the 40 billion yen loss predicted Nov. 13.
Its forecast for unconsolidated sales was revised downward to 2 trillion yen from 2.1 trillion yen.
"Our net balances are expected to produce sharply lower showings than the forecasts we last released, because we are to report extraordinary losses springing from a reconstruction plan and the special expenses related to the vehicle recalls," MMC said in a statement.
MMC said in February that it has recalled or is recalling 1.52 million vehicles in Japan and overseas.
On a group basis, MMC revised its net loss forecast to 270 billion yen from 140 billion yen, on projected sales of 3.3 trillion yen, down from 3.4 trillion yen.
Its consolidated pretax projection was revised to a 90 billion yen loss from a 45 billion yen loss.