Japan's Executives Struggle to Read Volatility in Stocks, Yen [BNN Bloomberg (Canada)]
SUZUKI MOTOR CO UNSP/ADR (SZKMY)
NASDAQ:AMEX Investor Relations:
globalsuzuki.com/ir
Company Research
Source: BNN Bloomberg
Suzuki Motor Corp. was the latest in a series of companies to highlight the heightened levels of uncertainty during earnings calls with investors this week. The automaker kept its full-year revenue outlook unchanged citing volatility in the stock market and the sudden appreciation of the yen against the US dollar. “As uncertainty remains in the markets, we kept our full-year outlook unchanged,” said Managing Executive Officer Ryo Kawamura after the company held its sales outlook at ¥5.7 trillion ($38.6 billion) despite revenue growing more than 20% in the first quarter on strong car sales. “A weak yen benefits us, but the current strengthening in the currency will have a reverse impact,” he added at the company's briefing on Tuesday. On the same call, Executive Vice President Kenichi Ayukawa also expressed his “shock” at recent market moves. The Bank of Japan's decision to raise its benchmark rate last week has triggered a wave of criticism after it helped set off a historic
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