Isuzu Motors Ltd., suffering a sharp fall in large truck sales in the domestic market, reported its first midterm operating losses since 1994 on a nonconsolidated basis, company officials said Friday.

The firm realized operating losses of 3.9 billion yen, pretax losses of 5.2 billion yen and net losses of 2.3 billion yen in the April-September period. Net sales during the period dropped 18.5 percent to 468 billion yen, compared with the same period last year.

The company will skip interim dividend payments. It paid out 2.5 yen per share in the first half of the previous year.

When asked about the pump-priming measures that the government has implemented to boost the economy, Shigeo Saigusa, Isuzu’s executive director, said, “We have seen few economic effects (from the measures) so far.”

For the full year that ends in March, Isuzu now projects pretax profits of 500 million yen, down 96.8 percent from the previous fiscal year. Sales for the year are estimated at 970 billion yen, down 14 percent.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.