Suzuki boosted net income in the first six months of fiscal year 2011/12 5.3% year on year to JPY32bn (US$415m), up JPY2.0bn (6.7%) from forecast.
This was because the JPY17.5bn booked as an extraordinary loss to cover earthquake damage was offset by one-off items such as a gain on sales of GM stock.
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Consolidated H1 net sales fell 7.0% to JPY1,226.2bn because of the earthquake, yen appreciation and lower sales in India due to the protracted strike there.
Operating income fell 5.9% to JPY64.7bn but this was limited due to increased production and sales in Japan, cost reduction and lower expenses and was 62% higher than forecast.
For the full fiscal year ending 31 March 2012, the company expects to report sales of JPY2,610bn (up 0.1%), operating income of JPY110bn (+2.9%) and net income of JPY50bn (+10.7%).
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