Mitsubishi Motors' Shares Slump After U.S. Tariffs Drag Quarterly Profit

Dow Jones07-25

By Kosaku Narioka

Mitsubishi Motors shares fell sharply after U.S. tariffs dragged its quarterly profit.

Shares were recently 8.9% lower at 401.5 yen early Friday in Tokyo after falling as much as 9.7%.

The Japanese carmaker said after Thursday's market close that net profit declined 97% from a year earlier to Y738 million, equivalent to $5 million, for the three months ended June. Tariffs lowered first-quarter operating profit by Y14.4 billion, it said.

Mitsubishi said auto tariffs that went into effect in April have begun to affect its sales activities in the U.S. market. Competition is also increasing in various markets with carmakers seeking to offset declining sales in the U.S. by growing sales in other regions, it said.

Mitsubishi's first-quarter retail sales volume dropped in Southeast Asia, Oceania and Europe from a year earlier. The company said it hoped the U.S.-Japan trade deal reached earlier this week would mitigate future impacts.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

July 24, 2025 21:47 ET (01:47 GMT)

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