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BREAKING NEWS

Suzuki Motor sees limited annual profit growth on Japan tax rise, India uncertainty

Suzuki Motor sees limited annual profit growth on Japan tax rise, India uncertainty
FILE PHOTO : The logo of Suzuki Motor Corp. is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 25, 2017. Picture taken October 25, 2017. REUTERS/Toru Hanai -
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Toru Hanai(Reuters)
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TOKYO (Reuters) - Suzuki Motor Corp on Friday forecast a 1.7% rise in profit for this year, anticipating limited growth due to an expected sales tax rise in Japan as well as uncertainty in the economic outlook in India, its biggest market.

Japan's fourth-largest automaker expects operating profit of 330 billion yen (2 billion pounds) in the year through March 2020, lower than the 362.2 billion yen average of 22 analyst estimates compiled by Refinitiv.

In the year just ended, profit fell 13.3% to 324.4 billion yen from the previous year's record high.

The compact car maker took a hit from a weaker Indian rupee, while costs related to a domestic vehicle recall stemming from improper vehicle inspections also weighed on its bottom line.

(Reporting by Naomi Tajitsu; Editing by Christopher Cushing)

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