Fuji Heavy Reports 37% Decline In Ne Profit, Lifts Forecast

Fuji Heavy Industries Ltd (OTC: FUJHY) reported a 37% drop in its net profit fell 37% in the nine months ended December. It lifted its full year forecast.

Fuji Heavy's net profit for the period fell to Y36.76 billion, from Y58.41 billion, in the year-ago period. Its sales declined 12% to Y1.029 trillion from Y1.175 trillion. Its operating profit tumbled 62% to Y27.85 billion from Y73.48 billion.

Fuji Heavy lifted its full year profit outlook. It now expects net profit of Y41 billion, versus Y36 billion. It lifted its sales forecast to Y1.500 trillion from Y1.480 trillion.

Fuji Heavy shares closed at $14.25 yesterday.