Suzuki July-Sept net sales dips on lower production

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New Delhi: Suzuki Motor Corporation has revised its operating profit forecast downwards to 12.6 percent YoY to ¥ 170 billion in 2021. The forecast for net sales has also been revised downwards by ¥ 200 billion to ¥3200 billion owing to impact of COVID-19 and semiconductor shortage.

In July-September period, net sales decreased by ¥16.7 billion (2.0%) to ¥828.2 billion YoY, mainly owing to production decrease due to parts shortage including semiconductors and the impact of the COVID-19. Operating profit decreased by ¥29.0 billion (39.3%) to ¥44.6 billion YoY, mainly owing to increase in raw material prices in addition to production decrease. Ordinary profit decreased by ¥44.3 billion (54.2%) to ¥37.4 billion, and profit attributable to owners of parent decreased by ¥36.8 billion (70.0%) to ¥15.7 billion, partly owing to impairment losses on domestic land of ¥9.5 billion.

In the April-Sept  months, the company’s net sales increased by ¥403.4 billion (31.8%) to ¥1,673.6 billion YoY, operating profit increased by ¥24.2 billion (32.3%) to ¥99.1 billion YoY, ordinary profit increased by ¥52.0 billion (54.2%) to ¥148.2 billion YoY, and profit attributable to owners of parent increased by ¥46.2 billion (85.0%) to ¥100.5 billion YoY.

The company’s net sales of automobile segment decreased by ¥26.6 billion (3.5%) to ¥739.8 billion YoY, and operating profit decreased by ¥33.2 billion (47.9%) to ¥36.0 billion YoY, mainly owing to production decrease and increase in raw material cost.

Net sales of Motorcycle segment increased by ¥2.7 billion (12.6%) to ¥23.9 billion YoY, and operating profit increased by ¥1.2 billion (30.6%) to ¥5.4 billion YoY, owing to the continued strong sales of outboard motors in North America

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