May 11, 2018 / 4:12 AM / 10 days ago

Japan's Subaru sees full-year profit slide on rising marketing costs

TOKYO, May 11 (Reuters) - Japan’s Subaru Corp on Friday forecast a 21 percent fall in operating profit for the current financial year as it expects increased marketing costs in the United States and higher raw material prices to offset higher global car sales.

Japan’s sixth-biggest automaker expects profit to slide to 300 billion yen ($2.74 billion) in the year to March 2019, lower than a median forecast of 391.8 billion yen from 20 analysts polled by Thomson Reuters I/B/E/S.

Operating profit was 379.45 billion yen in the year ended March 2018, largely in line with analyst estimates. ($1 = 109.4600 yen) (Reporting by Naomi Tajitsu Editing by Christopher Cushing)

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