Tokyo: Mitsubishi Motors, the Japanese maker of Lancer sedans, will revise its earnings forecast for the year ending March 31 as the global recession saps car demand and a stronger yen squeezes profits.
Mitsubishi will review forecasts based on sales performance in December and the effects of some cost-cutting measures that are in place now, spokes-man Fumio Nishizaki said on Friday by phone.
The revision will be made by the time the company announces its third-quarter results, which is usually around the end of January.
The carmaker will join Toyota and Honda, Japan's two largest automakers, in changing profit goals as auto sales plummet worldwide.
The yen's 23 per cent gain against the dollar this year also cuts the repatriated value of Japanese companies' overseas sales.
Tokyo-based Mitsubishi in October predicted net income to fall 42 per cent for the year.
