Suzuki Motor on Monday tripled its net profit forecast for the financial year to 31 March 2010 to JPY15bn from an earlier projected JPY5bn on cost-cutting efforts, although the new figure represents a year on year fall of 45.3%.
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Suzuki also quadrupled its operating profit forecast to JPY40bn from an earlier JPY10bn yen, on sales down 23.5% to JPY2.3 trillion, Kyodo News reported.
For the first half of fiscal 2009 from April to September, Suzuki net profit dropped 63.4% year on year to JPY12.51bn due to a stronger yen and the global economic downturn.
Operating profit was down 47.5% to JPY31.84bn on sales down 31.3% to 1.18 trillion yen, also due to weakness in its motorcycle business.
Suzuki said it saw brisk demand for new models in India and in some European countries like Germany and Britain due to government stimulus measures, but demand was weak in Japan and North America.
