SUBARU 1-year profit forecast revised upward November 4, 17:41 due to sales pick-up mainly in North America
Subaru, an automobile manufacturer, announced the outlook for its business results for the current year in line with the six-month financial results up to September, and profits have been picking up due to the temporary drop in sales due to the impact of the new coronavirus. Corrected expectations upwards.
Subaru's interim results for the entire group for the six months to September were affected by a large drop in sales due to the spread of the new coronavirus infection, and sales fell by 24.1% compared to the same period of the previous year1 Operating income, which indicates the profit of the main business, decreased by 67.7% to 30.6 billion yen.
However, recently, sales have picked up mainly in North America, which is the main market, and the number of units sold in North America in September and October was the highest ever per month.
The company expects that the trend of recovery will continue, and has revised its profit forecast for the current fiscal year upward, and forecasts operating income of 110 billion yen from the previous 80 billion yen.
President Tomomi Nakamura said, "In the United States, the number of infected people continues to increase and the uncertain situation continues for a while, but we would like to steadily improve quality and improve business performance."
On the other hand, in the aircraft division, operating income was in the red due to the decline in demand for Boeing in the United States, and President Nakamura revealed that he is proceeding with the relocation to the automobile division.