JAPAN: Subaru maker reduces loss forecast

By just-auto.com editorial team | 23 October 2009

Fuji Heavy Industries halved its projected group net loss to JPY22bn from an earlier-announced JPY44bn for the April-September first half of fiscal 2009/10 due to better than expected Subaru car sales in North America and China.

The yen's lower than expected value against other major currencies and cost reductions have also contributed to the earnings forecast revision, Fuji told Kyodo News.

The lowered loss projection compares with a profit of JPY4.4bn in fiscal H1 2008/9.

Fuji Heavy also revised its consolidated sales projection for the April-September period up to JPY635bn from an earlier predicted JPY624bn against JPY744.2bn a year earlier.

The company will release earnings estimates for full fiscal 2009/10 when announcing first half earnings on 2 Novermber.