Mitsubishi Motors Posts $1.2 Billion Loss on Fuel Rating Scandal

Mitsubishi Motors Corp. reported a loss of 129.7 billion yen ($1.2 billion) for the quarter ending in June after a fuel economy ratings scandal prompted the Japanese automaker to halt minicar sales and seek a rescue by Nissan Motor Co.

The net loss compares with the 131 billion yen average estimate of three analysts compiled by Bloomberg. Mitsubishi Motors reiterated its forecast given last month for a 145 billion yen deficit for the fiscal year ending in March, which would be the company’s first annual loss in eight years.