JAPAN: 2011 building sale skews Fuji Heavy's Q1 2012 profit
Group net profit at Subaru maker Fuji Heavy Industries fell 42.5% year on year to JPY16.35bn in the first (April-June) quarter of fiscal 2012/13.
The decline was mainly due to a rebound from a one-time profit of JPY26.1bn posted the year before after the sale of a building in Tokyo, Fuji Heavy told Kyodo News.
Group operating profit rose 62.5% to JPY17.33bn on sales up 42.8% to JPY428.90bn.
For the full year to next 31 March, Fuji Heavy forecast group net profit of JPY48bn, up 24.8%, on sales up 22.6% to JPY1.86 trillion.