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Isuzu Motors 9M Profit Rises, Volume Down; Backs FY24 Profit View, Cuts Volume Outlook

Isuzu Motors (ISUZY.PK) reported Friday that its nine-month net income grew 27 percent to 159.4 billion Japanese yen from last year's 125.9 billion yen.

Operating income grew 28 percent from last year to 253.6 billion yen.

Sales went up 8 percent to 2.54 trillion yen from last year's 2.34 trillion yen. Total unit sales, meanwhile, was down 12 percent to 511 thousand from last year's 580 thousand.

For fiscal 2024, the company continues to expect net income of 165 billion yen, operating income of 280 billion yen and sales of 3.40 trillion yen.

Meanwhile, the company trimmed volume view for the year to 677 thousand from previously expected 709 thousand units. Unit sales is revised downward due to severe market conditions.

Delays in production establishment of new-model vehicles caused a part of the planned units to be pushed back into the next fiscal year.

In Japan, Isuzu Motors shares closed Friday's regular trading at 2,031 yen, down 1 percent.

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