Fuji Heavy cuts sales target, scraps new plant plan

Reuters
Posted: Friday, Jan 16, 2009 at 0951 hrs IST
Updated: Friday, Jan 16, 2009 at 0951 hrs IST

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Tokyo: Japan's Fuji Heavy Industries, the maker of Subaru-brand cars, said on Friday it lowered its 2008/09 sales target to 555,000 units from 616,000 and would scraps plans to build a new plant for cars to be jointly developed with Toyota Motor Corp.

Fuji Heavy said earlier on Friday it now expects an operating loss of 9.0 billion yen ($100.2 million) in the year to March because of poor demand, down from a previous forecast of a 23 billion yen profit.

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Fuji Heavy cuts sales target, scraps new plant plan

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