Mitsubishi projecting big loss after scandal

June 22, 2016 11:57 AM

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Japanese automaker Mitsubishi Motors projected major declines in profit, revenue and vehicle sales for its current fiscal year amid a billowing crisis stemming from its exaggeration of gasoline-mileage figures.

Mitsubishi on Wednesday projected that it would swing from a $694 million profit in its most recent fiscal year to a $1.4 billion loss in the fiscal year ending March 31, 2017, based on today's currency rates.

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