5 Japanese Automakers Post Lower Net Profits in April-Dec.

Economy

Tokyo, Feb. 7 (Jiji Press)--Five major Japanese automakers have reported consolidated net profit drops for April-December last year, reflecting falls in stock prices and emerging economies' currencies amid uncertainty over the global economy.

The five were Toyota Motor Corp. <7203>, Honda Motor Co. <7267>, Mazda Motor Corp. <7261>, Subaru Corp. <7270> and Mitsubishi Motors Corp. <7211>.

Toyota saw its net profit plunge 29.3 pct from a year earlier to 1,423.3 billion yen after a year-before surge thanks to U.S. tax reforms. Appraisal losses on shares in affiliates also hurt the Japanese industry leader's performance.

Net profit tumbled 34.5 pct to 623.3 billion yen at Honda and 56.4 pct to 37 billion yen at Mazda. Mitsubishi Motors saw its bottom line fall 1.3 pct to 69.1 billion yen.

Meanwhile, Suzuki Motor Corp.'s <7269> net profit rose 10.0 pct to 180.7 billion yen, hitting a record high.

[Copyright The Jiji Press, Ltd.]

Jiji Press