Toyota subsidiary Daihatsu Motor group net profit in the first quarter of fiscal 2011 dived 65.8% year on year to JPY6.82bn due to declines in production and sales stemming from the 11 March earthquake and tsunami.
Pretax profit plunged 44.9% to JPY20.11bn on a 19.8% fall in sales to JPY329.75bn, Kyodo News reported.
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Daihatsu forecast its full fiscal year net and pretax profits would shrink 29.6% and 18.0%, respectively, to JPY37bn and JPY92bn although its sales were expected to inch up 0.7% to JPY1.57 trillion.
The carmaker said it would lift a quake-induced freeze on the operations of some of its factories for Thursdays in the August-September period to make up for the output falls stemming from the twin disasters.
Starting in July, Daihatsu shifted its factories’ business days for Thursdays and Fridays to Saturdays and Sundays in line with the Japanese industry’s move to disperse electric power consumption among the days of each week amid the power supply shortage.
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