Mitsubishi Motors Corp. on Monday reported a return to the black for the first time in three years, posting 11.3 billion yen in consolidated net profits in the 2001 business year.

The company reported group net losses of 278.1 billion yen a year earlier.

MMC, whose automobile division just began the second year of a three-year restructuring plan, had committed to breaking even in the business year to March 31. It has so far met the targets following drastic cost-cutting steps, according to the firm.