Subaru vehicle maker Fuji Heavy Industries lost JPY148bn or $US165m in the nine months to 31 December as, in common with other Japanese automakers, it was hit by sluggish sales and the strong yen.
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The company, part owned by Toyota Motor, posted a JPY17.9bn profit a year earlier.
Operating profit fell 73% to 9.9bn yen as revenue held steady at 1.1 trillion yen, the automaker said, according to Agence France-Presse (AFP).
The company maintained its forecast of ending the financial year to 31 March in the red for the first time since 1994 – it expects a net loss of JPY19bn and a JPY9bn operating loss.
“Despite increased sales in overseas markets, the strong yen and rises in other costs affected our earnings,” said the company.
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By GlobalDataSales in Japan fell 9.3% by volume, while overseas sales rose 7.2% due to strong demand for the redesigned Forester sports utility vehicle.
Special costs related to bad debts and Subaru’s withdrawal from the world rally championship were also behind the nine-month loss, it said.
