Financial loss comes after revelations of cheating on fuel economy tests.

Mitsubishi Motors will take an “extraordinary loss” of 19.1 billion yen ($173 million) over its fuel-economy scandal. The loss was announced today as an amendment to the company’s fiscal year 2015 results that were reported on April 27. At the time, Mitsubishi hadn’t yet determined just how much the issue would cost.

According to Japan Times, most of that cost will go toward compensating owners of cars whose economy was overstated.

As a result of this loss, Mitsubishi’s 2015 profit was revised down from 82 billion yen to 72.5 billion yen ($656 million). The company also is still evaluating how the economy scandal will affect earnings going forward, and says it can’t yet offer a forecast for fiscal year 2016; that estimate will be released, “as soon as it is available.”

Mitsubishi has been plunged into turmoil ever since the company admitted that it cheated on Japanese fuel-efficiency tests for 25 years, manipulating data to improve cars’ efficiency ratings. Though the scandal was at first thought to only affect certain minicars, an internal investigation revealed Mitsubishi had altered or falsified data on a wide range of cars for at least 25 years.

The scandal has already claimed Mitsubishi president and chief operating officer Tetsuro Aikawa. The Japanese automaker was also recently acquired by Nissan, which paid about $2.2 billion for a 34-percent stake of Mitsubishi.

Source: Mitsubishi

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Mitsubishi Motors Corporation (MMC) announces that it has recorded extraordinary loss in its consolidated and non-consolidated financial results for 2015 fiscal year ended March 31, 2016. The details are as follows.
1. Details for extraordinary loss
As announced on April 20, 2016, MMC discovered that in connection with the certification process for the mini-cars manufactured by MMC and regarding the fuel consumption testing data submitted to the Ministry of Land, Infrastructure, Transport, and Tourism, MMC conducted testing improperly to present better fuel consumption rates than the actual rates.
As the internal testing process was still ongoing with four mini-cars in question at the time the 2015 fiscal year financial results were announced on April 27, an estimation for the consequent extraordinary loss could not be determined. However, now the results from the internal testing are available; therefore based on those results MMC has estimated a portion of the loss from this issue and recorded an extraordinary loss of 19.1 billion yen as "loss on fuel economy test" in the financial results for the 2015 fiscal year ended March 31, 2016.
2. The amendment of the summary of consolidated financial results for the 2015 fiscal year
As MMC announced in "Notice Regarding Recording of Extraordinary Loss" today, MMC recognizes the effects of the subsequent events in its consolidated financial results for the year ended March 31, 2016 as "loss on fuel economy test." Please refer to the underlined items of attached documents for the detail of the amendment.