Suzuki Motor Reports Drop In 9-Month Profit, Lowers Revenue Forecast

Suzuki Motor Corp (OTC: SZKMY) reported a decline in its net profit for the April-December period.

Suzuki Motor's net profit for the period dropped to Y40.62 billion, from Y42.61 billion in the year-ago period. Its sales fell 6.7% to Y1.798 from Y1.928 trillion and operating profit dropped 5.1% to Y87.71 from Y95.46 billion.

For the full fiscal year through March, Suzuki kept its operating profit target at Y110 billion and its net profit outlook at Y50 billion. However, the company cut its revenue target to Y2.500 trillion from Y2.610 trillion.