/ Mazda, News / Mazda and Fuji Heavy Increase Profit Target On Weak Yen

Mazda and Fuji Heavy Increase Profit Target On Weak Yen

Linked In Share
Mazda and Fuji Heavy Increase Profit Target On Weak Yen

Fuji Heavy Industries and Mazda joined Toyota in increasing their profit target as domestic production will benefit from the weak yen.

Over the past three months Mazda more than doubled its net income target to 26 billion yen ($277 million) for the fiscal year ending March 2013, while Fuji heavy increased its forecast by 13% to 76 billion yen. All Japanese companies will benefit from the weakening yen which is to reach a 21/2 year low.

“The currency has the biggest impact,” said Takashi Aoki, a Tokyo-based fund manager at Mizuho Asset Management Co., which oversees about $38 billion. “At the current level, we can expect earnings in the fourth-quarter to greatly outperform, and for earnings to the next fiscal year to exceed expectations as well.”

In 2012, Fuji Heavy, which produces the Subaru cars, sold a record number of vehicles in the US, due to its best-selling Impreza hatchback. Fuji Heavy produced 75% of its vehicles in Japan, while Mazda manufactured 71%, the highest ratio among the country’s major automakers. Fuji Heavy said it plans to sell 722,000 vehicles this year, with 8,000 more compared with its last forecast.

“The yen is still making corrections from a high level,” said Fuji Heavy Chief Financial Officer Mitsuru Takahashi. “From a manufacturer’s point of view, we should produce where the goods are sold.”

by Ana Cezara Savin (my Google+) - Wednesday, February 6th, 2013 - filed under Mazda, News. Image credit: .
Linked In Share
Related Articles


Discuss: Mazda and Fuji Heavy Increase Profit Target On Weak Yen

Leave a Reply


















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Bentley announce record profit for 2013, plans 50 percent boost by 2018
Bentley announce record profit for 2013, plans 50 percent boost by 2018Bentley Motors Ltd., Volkswagen AG’s U.K. luxury unit, on Wednesday announced record profit of 167.7 million euros (£139.7) up ...
Facelifted Fiat Ducato spied
Facelifted Fiat Ducato spiedThe facelifted version of the Fiat Ducato is currently being tested by the Italian based automaker and the model in question has ...
2015 Mercedes-Benz C63 AMG spied
2015 Mercedes-Benz C63 AMG spiedThe C63 AMG version of the newly unveiled Mercedes-Benz C-Class has been recently spied while it was being tested. The German ...
Bentley to move all W12 engine production to Britain from Germany
Bentley to move all W12 engine production to Britain from GermanyLuxury carmaker Bentley Motors, the largest producer of 12 cylinder engines, on Wednesday said the company would move production ...
Bentley SUV – first official image released
Bentley SUV – first official image releasedLuxury automaker Bentley has released the first official image with the SUV which will be hitting the streets in a couple of ...
BMW M4 Cabrio spied
BMW M4 Cabrio spiedOur spy photographers have managed to capture the brand new BMW M4 Cabrio while it was being tested on the track. BMW is getting ...
New-gen Audi R8 spied
New-gen Audi R8 spiedThe new generation of the Audi R8 has been recently caught on camera while it was being tested on the track. With the ...
Italy: Fiat’s Pomigliano D’Arco Workers Accept Solidarity Contracts
Italy: Fiat’s Pomigliano D’Arco Workers Accept Solidarity ContractsThe Italian automaker Fiat has recently agreed with the labor unions to put 2,000 employee at the Pomigliano D'Arco plant on ...
Audi unveils A4, A4 Avant and A5 Coupe Ultra
Audi unveils A4, A4 Avant and A5 Coupe UltraAudi has officially pulled the wraps off the new A4, A4 Avant and A5 Coupe Ultra as the three models will go on sale in the UK ...
Recall roundup: Volkswagen Passat for headlight problems
Recall roundup: Volkswagen Passat for headlight problemsVolkswagen has recently announced a recall for the Passat because of a problem spotted with its headlights. The National Highway ...
BMW expands US, Chinese output, plans to sell 2-million vehicles in 2014
BMW expands US, Chinese output, plans to sell 2-million vehicles in 2014BMW, the world’s largest premium carmaker is looking to expand production capacity at its plants in the United States and ...
Slow Sales: Chrysler Suspends Viper Production for Two Months
Slow Sales: Chrysler Suspends Viper Production for Two MonthsDue to slow sales Chrysler announced it will suspend SRT Viper sport coupe production for more than two months. A spokesman for ...
Lamborghini Gallardo meets its end in Bangkok
Lamborghini Gallardo meets its end in BangkokA white Lamborghini Gallardo has recently met its end in Thailand after its driver lost control of the wheel and crashed ...
Mercedes Adds a Third Shift at Hungary Plant to Boost Compacts’ Production
Mercedes Adds a Third Shift at Hungary Plant to Boost Compacts’ ProductionThe German automaker Mercedes-Benz announced it will add a third shift at a manufacturing plant in Hungary to keep up with ...
Kia Pro_cee’d GT was launched in Australia
Kia Pro_cee’d GT was launched in AustraliaKia has officially introduced the new Pro_cee’d GT in Australia where the model in question has been priced from 29,990 ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Spied-Fiat Ducato Facelift 001
Spied-Mercedes C63 AMG 001
bentley-official-suv
Spied-BMW M4 Cabrio 001
Spied-Audi R8 001
ferrari f12 berlinetta gumball 3000 2014 1
pagani huayra orange hong kong 1
bmw m4 motogp safety car 1
Porsche-Cayman-GTS-05
mercedes-benz a45 amg posaidon tuning 1
Mercedes-Benz S63 AMG Coupe 1
0-

More automotive from inautonews
Bentley Motors Ltd., Volkswagen AG’s U.K. luxury unit, on Wednesday announced record profit of 167.7 million euros (£139.7) up 66.9 percent compared to 2012, its strongest ever performance. Turnover grew by 15.5 percent to €1.68 (£1.40) billion, the highest in Bentley’s history. Profit ...
read more
Inautonews Editors Section
Test Drive: Renault Captur 0.9 – TCe 90 – fast review
Test Drive: Renault Captur 0.9 – TCe 90 – fast review After we’ve tested almost all Renault Captur models, we decided to check out the 3-cylinder engine - 898 cc 66kw (90 hp) model. Why we’ve ...
Test Drive Fiat 500L Living – Review
Test Drive Fiat 500L Living – Review Who ever thought in 2007, when Fiat unveiled the new 500 citycar that the Italian automaker will ever build a seven-seater 500 model. Clearly, ...
Test Drive Fiat 500L Trekking – Review
Test Drive Fiat 500L Trekking – Review Fiat had a great success back in the 60’s with the 500 model. It was cheap, practical and equipped with a 479 cmc petrol engine – that’s why ...

Editors Section
Inautonews Editors Section
2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video] 2009 safest cars Euro NCAP

Latest in Safety Recall roundup: Volkswagen Passat for headlight problemsVolkswagen has recently announced a recall for the Passat because of a problem spotted with its ... Recall roundup: Cadillac XTSThe North American based automaker Cadillac has recently announced a recall for certain XTS luxury ...
Safety Section