Mazda and Fuji Heavy log gains for quarter ended September 2014

Article by Andrew Christian, on November 2, 2014

Japanese carmakers Mazda Motor Corp. and Fuji Heavy Industries Ltd. both posted good growths for the second fiscal quarter ended September. Mazda and Subaru parent Fuji sell around 80 of their Japan-produced vehicles abroad—meaning they both benefit from the weaker yen, which renders exported products more profitable.

Fuji posted a 32-percent jump in operating profit for the quarter to JPY106.94 billion, with revenues leaping 24 percent to JPY716.85 billion. The carmakers also benefited from strong sales in the United States, which they consider as their largest market.

Subaru logged its 34th month in a row of sales gain in September, as boosted by strong demand for the Forester SUV and Legacy models, Subaru recorded a 34th straight month of sales growth in September. Subaru logged a 20-percent jump in light vehicle sales in the US to 375,485 units in the first nine months of 2014, according to the Automotive News Data Center.

Mazda, on the other hand, posted a 9-percent leap in the same period to 240,953 vehicles. Both outpaced the overall US market that grew 6 percent to 12.4 million vehicles. Mazda saw its operating profit jump 27 percent in the fiscal second quarter ended September to JPY47.59 billion ($428.8 million).

While Mazda updated its revenue forecast to reflect a slight increase, it reiterated the figures for its annual profit. On the other hand, Fuji updated its full-year operating profit forecast to reflect an increase from JPY340 billion to JPY382 billion.

Fuji also hiked its dividend forecast for the full fiscal year by JPY6 to JPY62. The Subaru owner also expects to 22,000 more vehicles overseas this year than initially expected, as it experienced strong sales in North America. Fuji, however, now expects to less vehicles in Japan and Europe than initial forecasted.

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