Falling sales force Mitsubishi re-think

8bn yen (£2.4bn) for 2004. The company reported selling 214,000 fewer cars than in 2003 and it has forecast a 64 billion yen loss for the current fiscal year. In January Mitsubishi announced its Revitalisation Plan aimed at turning around its fortunes and said it had secured the funding required to fully implement the initiative. The funding derives from the implementation of a 284.2bn yen capital increase through the issuance of new shares to Mitsubishi Heavy Industries, Mitsubishi Corporation and financial organisations. The company also secured 30bn yen in financing from the Development Bank of Japan at the end of March. Meanwhile Mitsubishi in the UK is out-performing the market with car sales up 3 per cent so far this year compared to 2004. Last year the importer enjoyed a 25 per cent rise in sales with volumes reaching 22,573.