The maker of Subaru vehicles, Fuji Heavy Industries, reported a 21 percent surge in operating profit in its latest quarter as advantageous exchange rates and surging sales delivered record earnings.The all-wheel-drive specialist also said it would meet its North America sales target five years ahead of schedule and speed up plans to increase local production capacity there.
Global operating income climbed to 112.9 billion yen ($943.7 million) in the company’s fiscal fourth quarter ended March 31, Fuji Heavy President Yasuyuki Yoshinaga said today while delivering fiscal-year financial results.
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