Mitsubishi Motors Reports First-Half Loss

Mitsubishi Motors Corp. said it continued to bleed red ink in the first half of this fiscal year, battered by poor sales. Mitsubishi, Japan’s fourth-largest auto maker and its top truck maker, said that in the fiscal half-year to Sept. 30 it lost $155 million, which is pretax and includes some nonoperating income, contrasted with a $148.3-million profit a year ago. The performance was far better than the $271.2-million loss the company forecast in May, Mitsubishi executives said. The company has outlined a three-year restructuring plan to restore profitability, which includes cutting 1,000 jobs in the U.S.