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Suzuki Motor posts strong net income gain

Suzuki Motor Corp.'s net income attributable to owners of the parent for full fiscal year 2017 rose 34.9% year over year as net sales increased across the automobile, motorcycles and marine business segments.

The Japanese automaker reported net income attributable to owners of the parent of ¥215.73 billion, or ¥473.74 per share, rising from ¥159.96 billion, or ¥362.48 per share in the last fiscal year.

Net sales for 2017 increased 18.5% to ¥3.757 trillion, from ¥3.170 trillion in the previous fiscal year. The sales growth resulted from strong performances in the automobile, motorcycle and marine businesses.

Operating income increased to ¥374.18 billion from ¥266.69 billion in the previous year.

The company paid a year-end dividend of ¥44 per share, an increase from ¥27 per share in the prior year. The total cash dividend for fiscal year 2017 was ¥74, a jump from ¥44 during fiscal year 2016.

Suzuki expects a 5% decrease in net income attributable to owners of the parent in fiscal year 2018 from the previous year to ¥205 billion, or ¥464.08 per share. Net sales are predicted to rise to ¥3.8 trillion.

As of May 10, US$1 was equivalent to ¥109.58.