Suzuki Motor forecasts full-year operating profit to shrink by a quarter

<p style="text-align: center;"><img title="1604642160164510.jpg" alt="7.jpg" src="/ueditor/php/upload/image/20201106/1604642160164510.jpg"/></p><p>&nbsp;Suzuki Motor Corp on Thursday forecast&nbsp;operating profit&nbsp;to fall by a quarter to 160 billion yen ($1.53 billion) in the year to March as sales, including in its key&nbsp;Indian market, shrank amid the coronavirus pandemic.<br/><br/>That prediction, below a 215.1 billion yen profit last business year, was more than an average estimate for a 124.3 billion yen annual profit compiled from 14 analysts polled by Refinitiv.<br/><br/>India accounts for just over half of Suzuki&#39;s global car sales. Through its majority stake in Maruti Suzuki India Ltd, the company accounts for roughly one in every two&nbsp;cars&nbsp;sold in the country.</p><p><br/></p><p>Sales there and in other markets, including Japan, Indonesia and Europe have suffered as people stay away from dealerships.<br/><br/>Last business year, Maruti Suzuki paid Suzuki 38.2 billion rupees in royalties, or about 5% of its revenue, according to its annual report.<br/><br/>The forecast came as Suzuki posted a 73.6 billion yen operating profit in the three months ended Sept 30 compared with a profit of 55.9 billion yen a year earlier, according to Reuters&#39; calculations.<br/><br/>Japan&#39;s fourth-largest automaker had declined to give a full year forecast when it reported it first quarter results, saying the coronavirus pandemic made predicting its future performance difficult.</p>