JAPAN: Daihatsu fiscal half-year net profit down 17%

By Dave Leggett | 31 October 2013

Daihatsu has posted group net profit for the April-September (fiscal H1) period came to 36.76 billion yen, down 17.3% on last year's record high.

It said that slower domestic sales amid intensified competition in the minicar segment offset robust sales in major overseas markets.

Sales volume in the first half of the year to March shrank 4.8% in Japan against a 3.3% rise abroad, bolstered by gains of 8.7% in Indonesia and 4.1% Malaysia, Daihatsu said.

Daihatsu also said that its operating profit fell 4.7 percent to 70.28 billion yen on sales of 900.17 billion yen, up 4.3%.

The company revised downward its full-year net profit forecast to 80 billion yen, down 1.7% from the previous year.