November 5, 2018 / 5:22 AM / 9 days ago

Subaru to slash guidance, cut output after finding more cheating -Nikkei

TOKYO, Nov 5 (Reuters) - Subaru Corp will reduce output at its main factory in Japan after finding new cases of inspection cheating and will slash its annual profit forecast by a quarter to 220 billion yen ($1.94 billion), the Nikkei business daily reported on Monday.

Japan’s smallest major automaker is due to announce its first-half results along with new information on improper vehicle inspections at 3 p.m. (0600 GMT). The company delayed the announcement by two hours earlier on Monday.

Subaru’s most recent operating profit forecast is a slide of 21 percent to 300 billion yen for the year to March 31, 2019. ($1 = 113.2600 yen)

Reporting by Chang-Ran Kim; Editing by Christopher Cushing

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below