Suzuki Motor Corp. on Tuesday reported a 56 percent increase in net profit for its 2010 fiscal year that ended March 31. Suzuki’s net profit increased to ¥45.17 billion ($563 million), compared to ¥28.91 billion ($359 million) the previous year. Sales increased by 5.6 percent from the previous year to ¥2.61 trillion.
Suzuki’s overall sales of motorcycles and ATVs were 2,695,000 units, a decline of 10.7 percent from the previous year. Global sales of motorcycles and ATVs was down 2 percent, to ¥257.7 billion. Suzuki reported a motorcycle sales decline in Europe, North American and Japan despite a sales increase in Asia. Operating loss in the motorcycle segment was ¥10.8 billion due the continued sales slowdown of large-size motorcycles to Europe and the U.S., but operating loss was reduced by ¥10.3 billion from a year ago because of improving operating results in Asia.
The Chubu Electric Power Co.’s decision to shut down reactors in Shizuoka related to a potential earthquake will likely affect Suzuki. Suzuki has six factories located in the region that has its power supplied by Chubu Electric.