Suzuki Motor Corp. said Monday that its sales and profits for the financial year ended March 31 fell sharply and that it expects yet another difficult year, blaming a slump overseas sales and the yen's strength.
The maker of small cars and motorcycles booked a net profit of 27.43 billion yen ($278.9 million) in the just-ended period, tumbling 66% from 80.25 billion yen a year earlier.
Its group sales fell 14% to 3.005 trillion yen from 3.502 trillion yen while operating profit plummeted 49% to 76.93 billion yen.
For this financial year ending March 2010, the company expects an 82% plunge in net profit to 5 billion yen, with an 87% fall in operating profit to 10 billion yen. Sales are pegged at 2.300 trillion yen, down 24%.
It expects to breakeven both on an operating and net basis for the first half ending Sept. 30.
Suzuki's earnings are based on Japanese accounting standards.
