Mitsubishi Motors suffers 39% profit drop on weak Asia shipments

Automaker eyes earnings recovery in coming quarters as retail demand rebounds

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Mitsubishi Motors underperformed market forecasts for net profit in the April-June quarter. © Reuters

SEI MATSUMOTO, Nikkei staff writer

TOKYO -- Mitsubishi Motors on Tuesday reported a 39% decrease in net profit on the year for the April-June quarter to 29.4 billion yen ($188 million), as shipments flagged in the crucial Southeast Asian market.

The Japanese automaker underperformed market forecasts for the quarter, in part from higher marketing costs in North America amid cutthroat competition.

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