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Mitsubishi Motors Corp.

lifted its operating profit forecast for this financial year by 20 percent to 120 billion yen ($1.2 billion) on Friday, helped by a weakening yen, cost cuts and strong sales of the Outlander SUV plug-in hybrid.

The carmaker, despite a decline in overall sales, also raised its net profit outlook for the financial year ending in March 2014 by 23 percent to 100 billion yen.

The company said it will hold an extraordinary shareholders' meeting on Dec. 26 to prepare for a public share offering as a part of its plan to pay back its top shareholders for support in a 2004 bailout.

 


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Japan Has Manipulated The Yen So Much That Mitsubishi Is Now Profitable

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