Fuji Heavy Q1 tanks on sales slide; saved by forex

Newswire

TOKYO, July 31 (Reuters) - Fuji Heavy Industries Ltd. , the maker of Subaru cars, posted a 67 percent plunge in quarterly operating profit as vehicle sales fell in all of its main markets, and it said a tougher environment would continue to wipe out any gains from a weaker yen. Operating profit for the April-June first quarter was 3.51 billion yen ($29.5 million), as sliding sales and a worsening model mix from an increase in demand for smaller, lower-margin vehicles knocked off 13.8 ...

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