Fuji Heavy reduces loss forecast on sales
Published: 02 Nov 2009 01:02:01 PST
Fuji Heavy Industries Ltd, the maker of Subaru brands, reduced its full-year loss forecast on sales and lowered its production costs.
The automaker expects to post a loss of 25 billion yen ($277 million) at the end of March next year compared with a loss of 55 billion yen a year earlier. It also improved its full-year sales forecast by 3 percent, to 1.36 trillion yen.
According to a data complied by Bloomberg, Toyota Motor Corp holds 16.3 percent shares of Fuji Heavy.
Fuji Heavy stocks fell about 6.6 percent, which was about 340 yen on the Tokyo Stock Exchange, and traded at 343 yen at 1:10 p.m Tokyo time.
Agencies and Wang Yang contributed to this story
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