Mitsubishi slashes full-year outlook

MMC has been slow to recognise what a weak year it is having. At the time of announcing its half-year results it stuck to the start-of-year forecast for a negligible drop in full-year operating profit. We commented at the  time that the forecast looked optimistic and MMC has now woken up to this fact, slashing its full-year operating profit by 34% at the time of announcing its fiscal Q3 results.