TOKYO (Reuters) -Japanese automaker Mitsubishi Motors cut on Wednesday its forecast for the current fiscal year's operating profit by 30% due to the negative impact from U.S. tariffs, lower expected
Mitsubishi Motors Lowers Operating Profit Forecast by 30% Amid Tariffs
TOKYO (Reuters) -Japanese automaker Mitsubishi Motors cut on Wednesday its forecast for the current fiscal year's operating profit by 30% due to the negative impact from U.S. tariffs, lower expected sales volume and higher selling expenses.
The company said it expected to book an operating profit of 70 billion yen ($475.12 million) for the fiscal year through next March, 30 billion yen lower than its previous forecast.
Its shares sold off on the news and were last trading down 2% at around 401 yen.
($1 = 147.3300 yen)
(Reporting by Daniel Leussink; Editing by Himani Sarkar)
