February 7 2011.

Suzuki today announced that its net profit increased in the April to December 2010 period.

The company announced a net profit of Y42.61 billion in the nine-month period against a Y15.49 billion profit in the same period of 2009. 

Sales were up 8.4% and operating profit was up 85% from Y49.83 billion to Y95.46 billion.

High sales in Asia are pinpointed as the reason behind the rise.

Full Suzuki release:

Suzuki Motor Corporation is pleased to announce that the Group achieved increased sales and profit for the FY 2010 first nine months (1 April through 31 December 2010) despite continued severe market condition.

The Group achieved consolidated sales of ¥1,927.7 billion(up ¥148.9 billion, 108.4% y-o-y) thanks to increased sales of automobiles in Japan and of automobiles and motorcycles in Asia although the sales in North America and Europe were lower than the same period of the previous year.

As for the consolidated income, the Group achieved operating income of ¥92.5 billion (up ¥42.7 billion, 185.6% y-o-y), ordinary income of ¥106.5 billion (up ¥48.7 billion, 184.2% y-o-y), and net income of ¥42.6 billion(up ¥27.1 billion, 275% y-o-y) because the sales increase and the cost reduction covered the reduced income caused by the exchange influences and the increase in various expenses, R & D expenses and depreciation.

As for operating results of automobile segment, the Group achieved increased overall sales volume of 1.94 million units(114.0% y-o-y) and increased global sales of ¥1,722 billion(up ¥148 billion, 109.4% y-o-y) and operating income increased to ¥91.6 billion (up ¥35.7 billion, 163.7% y-o-y) owing to the sales expansion efforts such as the launch of the new Swift and strengthened sales force in Japan and sales increase in emerging countries centering on Asia such as India and Indonesia, etc.

Regarding motorcycle segment, overall sales volume was 2.06 million units (92.5% y-o-y) and decreased global sales of ¥186.3 billion (down ¥8.9 billion, 95.4% y-o-y) due to the sales decline in North America, Europe and Japan despite the sales increase in Asia. As for income and loss, operating loss was ¥7.0 billion on account of the continued sales slowdown of large-size motorcycles for Europe and the US, but the operating loss was reduced by ¥7.1 billion year-on-year because operating results improved in Asia.

Sales of marine and power products, etc. business increased to ¥33.5 billion(up ¥5.1 billion, 117.9% y-o-y) owing to the sales increase mainly in Europe, North America, Asia, and Oceania. Operating income also increased to ¥5.1 billion(up ¥0.9 billion, 122.9% y-o-y).

Suzuki will make further efforts for improvement in every aspect as a group for development of business activities.

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