Subaru carmaker Fuji Heavy Industries on Thursday reported a consolidated net loss of JPY15.22bn for the April-December 2009 period on weak car sales and the bankruptcy of a US aircraft maker the company had business dealings with.
The loss in the first three quarters of fiscal 2009 was wider than a year-before loss of JPY14.81bn, according to Kyodo News.
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Operating profit dropped 60.9% year on year to JPY3.88bn on sales of JPY1.01 trillion, down 8.6%, due to lower car sales in Japan and Europe and the yen’s appreciation, which hurt export sales.
For the whole of fiscal 2009 ending March, the company raised its estimate of group sales to JPY1.41 trillion from the November forecast of JPY1.36 trillion. The operating profit projection was revised upward to JPY14bn from JPY1bn, a turnaround from a loss of JPY5.8bn in the previous year.
The company has stuck with its earlier estimate of a group net loss of JPY25bn, which stems partly from its withdrawal from the World Rally Championship and costs for downsizing its domestic Subaru car sales units as well as the collapse of US plane maker Eclipse Aviation.
