Fuji Heavy Industries has announced an upward revision to its earnings forecasts for the six-month period to 30 September 2012 (H1 FY2013).
The OEM is now forecasting revenue of ¥898bn (US$11.28bn), down ¥12bn, or 1.3%, from the previous forecast of ¥910bn, but still 37.1% ahead of the H1 FY2012 result of ¥655.023bn. However, the operating income forecast has been raised 34.4% to ¥43bn (margin of 4.8%) from the previous ¥32bn (3.5%), while the ordinary income forecast has been raised 50.0% to ¥45bn from the 8 May projection of ¥30bn. Net income is now forecast at ¥40bn, up ¥17bn, or 73.9%, from the previous estimate of ¥23bn.
Operating, ordinary and net income in the H1 FY2012 period were ¥18.76bn (2.9%), ¥21.56bn and ¥32.75bn, respectively.
Fuji noted that the revised projections for the first half of the current fiscal year are based on assumed foreign exchange rates of ¥80/US$ (unchanged) and ¥103/€ (¥102 previously).
The company will reveal (upwardly) revised FY2013 financial projections on 30 October, the date it will publish actual H1 FY2013 results.
The current FY2013 projections, which are based on currency rate assumptions of ¥80:US$ and ¥99:€, are for net revenue of ¥1,860bn, operating income at ¥67bn (margin of 3.6%), ordinary income of ¥63bn and net income of ¥48bn. Global vehicle sales are estimated at 721,000, 81,000 or 12.7% ahead of the FY2012 total of 640,000.
