Subaru cuts annual forecast to 380b yen

TOKYO: Japan’s Subaru Corp reported a disappointing operating profit for the second quarter, and cut its full-year forecast as it expects to sell fewer cars in the United States, its biggest market, amid fierce competition. Subaru has been outperforming its bigger Japanese rivals in the key North American market, but increased competition has begun to weigh on the carmaker. It expects operating profit in the year to March to come in at 380 billion yen (RM14.12 billion), versus a previous forecast of 410 billion yen and lower than last year’s 410.8 billion yen. Agencies