Posted Friday, May 11, 2018 at 10:40pm
Japan’s Subaru Corp (7270.T) on Friday forecast a third-straight year of falling operating profit as it expects a stronger yen and increased marketing costs in the United States to offset higher global car sales.
Subaru and bigger rivals including Toyota Motor Corp (7203.T) and Honda Motor Co Ltd (7267.T) are bracing for a slide in operating profit due to a stronger yen, which can squeeze earnings repatriated from abroad. It also raises costs of exported vehicles and parts, making Japanese products less competitive overseas and denting profit margins.
