Friday, November 1, 2013
DJ: Suzuki Motor Posts Record 1H Profit On Weaker Yen
TOKYO--Suzuki Motor Co. (7269) Friday reported an all-time record profit for the half ended Sept. 30, buoyed by the yen's weakness and cost reductions.
The Japanese maker of small vehicles generated a net profit of Y51.65 billion ($527 million) in the just-ended April-September period, a 23% gain from Y41.90 billion a year earlier.
Sales rose 12% to Y1.370 trillion from Y1.227 trillion a year earlier. Operating profit grew 37% to a record Y90.30 billion.
For the full business year ending March 2014, Suzuki revised down its outlook for overseas vehicle sales to 2.026 million units from 2.066 million, reflecting slowing demand in markets such as China.
Meanwhile, the company revised up its domestic vehicle sales outlook to 682,000 vehicles from 660,000 owing to popularity of vehicles such as the Spacia minicar, which debuted in March.
For the full business year ending March 2014, the company left intact its outlook for net profit and sales at Y2.8 trillion and Y100 billion respectively. It raised its operating profit estimate to Y170 billion from Y165 billion.
The earnings are based on Japanese accounting standards.