Suzuki Motor had earlier given a net profit forecast for the financial year ending on March 31, 2010 to amount to JPY5 billion; but due to cost-cutting efforts, has now tripled this figure to achieve JPY15 billion. This new figure however represents a 45.3% drop year-on-year.
In addition, Suzuki quadrupled its operating profit forecast from JPY 10 billion to JPY 40 billion, on sales down 23.5% to JPY2.3 trillion, according to a report from Kyodo News. From April to September (the first half of fiscal 2009), Suzuki’s net profit fell 63.4% year on year to JPY 12.51 billion due to a stronger yen and the global economic downturn. Operating profit dropped 47.5% to JPY 31.84 billion on sales down 31.3% to 1.18 trillion yen, hit by a weakness in its motorcycle business.
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