Subaru carmaker Fuji Heavy Industries has revised upward its profit outlook for the first half ended 30 September, citing the benefits of cost cutting.
It raised its net profit outlook to JPY32bn from JPY23bn for the interim period. It also revised up its operating profit outlook to JPY18bn from JPY10bn, Dow Jones reported.
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But it left its sales forecast at JPY650bn for the first half. Although vehicle sales remained stronger than expected both at home and overseas, the company has also experienced the negative effect of the yen’s strength.
The company initially expected the dollar to average JPY81 for the first half but the actual rate was JPY80.
H1 results are due out on 1 November.
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