Suzuki Posts 46% Drop In First-quarter Profit On Slowing India Demand

Suzuki posts 46% drop in first-quarter profit on slowing India demand

TOKYO — Suzuki on Monday reported a 46.2% fall in first-quarter operating profit, hurt by lower output at home as it improves its inspection systems, and falling demand in India, its biggest market. Japan's fourth-largest automaker posted an operating profit of 62.7 billion yen (£487 million) for the April-June quarter, down from 116.5 billion yen a year earlier and below a mean forecast of 69.09 billion from eight analysts, according to Refinitiv. Suzuki reaffirmed its forecast for full-year operating profit to come in at 330 billion yen, up 1.7% from the year ended March 2019. Suzuki, known for its Swift and Baleno compact models, is bracing for subdued growth this year in India, where roughly one in two cars sold carries its brand. The company stuck to a forecast for vehicle sales to increase slightly on the year, but conceded that it may need to trim its forecasts in the coming months as slowing economic growth and stricter emissions standards could dent sales. Slowing profit growth could hamper its ability to invest in and develop lower-emissions vehicles and on-demand transportation services necessary to survive the technological upheaval currently underway in the global auto industry. The automaker has long acknowledged that it cannot shoulder the costs of developing electric vehicles and self-driving cars on its own, and has turned to Toyota to supply Suzuki vehicles with its gasoline hybrid systems.

Gpif Posts $22 Bil. Returns In Fy 2018

GPIF posts $22 bil. returns in FY 2018

Japan's Government Pension Investment Fund says it posted investment returns of some 22 billion dollars in the year through March, the third year in a row it has posted profits.

The GPIF announced on Friday that its rate of return in fiscal 2018 was 1.52 percent.

Abe To Give 11 Cabinet Posts To Newcomers

Abe to give 11 Cabinet posts to newcomers

Prime Minister Shinzo Abe will bring in 11 newcomers when he reshuffles his Cabinet on Tuesday.

Abe is set to appoint executives of his ruling Liberal Democratic Party on Tuesday morning and reshuffle the Cabinet in the afternoon.

Ex-amateur Boxing Chief Quits All Posts

Ex-amateur boxing chief quits all posts

The Japan Amateur Boxing Federation says its former chief Akira Yamane has quit the other amateur boxing bodies he belonged to and resigned from senior posts.

The JABF announced on Wednesday that Yamane revealed his resignations to JABF managing director Teruo Yoshimori.

Infiniti Posts 17th Consecutive Sales Record; Sales Increase By 11 Percent Globally

INFINITI Posts 17th consecutive sales record; sales increase by 11 percent globally in the first nine months of this year

HONG KONG – INFINITI has posted its 17th consecutive monthly global sales record. INFINITI sold 21,523 vehicles globally in September, an increase of 8% compared to last September, and sold 182,884 vehicles so far this year, an increase of 11% compared to same period last year. This was the best September sales month for INFINITI in the Americas (with USA & Canada), in China, and in Taiwan.

"I would like to thank the INFINITI customers around the world for their continued trust in the INFINITI brand and our products and to thank our dealers for their dedication and commitment to the business. The recent growth of INFINITI is built on the new Q50 sedan and demand for our strong SUV lineup. INFINITI has achieved very positive momentum and we will have more exciting news in the next two months with two new SUVs coming for global markets," said Roland Krueger, Chairman and Global President of INFINITI Motor Company.

Lexus Posts Record February Suv Sales 2017

Lexus Posts Record February SUV Sales 2017Luxury carmaker Lexus has achieved the highest February SUV sales in its 27-year history, according to industry statistics released today.
The official figures show Lexus delivered 515 of its in-demand SUV models last month, making it the first time the brand has passed 500 SUV sales in the second month of a year.

Japan Posts Video Of Chinese Ships Near Senkakus

Japan posts video of Chinese ships near SenkakusThe Japanese government has posted an online video of Chinese ships that intruded into Japan's territorial waters around the Senkaku Islands in the East China Sea.
Japan controls the islands. The Japanese government maintains the islands are an inherent part of Japan's territory. China and Taiwan claim them.

Sony Posts Official Images Of The Xperia E5

Sony Posts Official Images of the Xperia E5Sony seems to be seriously considering discontinuing its mid-range Xperia C and M smartphone series, in favor of Xperia X and E. A few weeks ago, leaked slides from a Sony presentation showed that the company would be focusing solely on its Xperia X series, but now it appears that it will also launch a new Xperia E handset.