By Justina Lee

Suzuki Motor Corp. shares rose Wednesday after the Japanese automobile maker raised its full-year earnings forecast, following stronger first-half earnings.

The shares rose as much as 11% to 5,672 yen in early trade, and were recently 4.0% higher.

The company posted a net profit of 115.1 billion yen ($790.1 million) for the first half ended Sept. 30, up from Y100.5 billion a year earlier, it reported after the market closed Tuesday.

Stronger contributions from its automobile, motorcycle and marine businesses helped first-half net sales to rise 33% on year to around Y2.218 trillion.

Its motorcycle business saw a 46% on-year rise in net sales, thanks to higher volume mainly in its Indian market.

Net sales in its automobile business rose 40% on year.

The company raised its full-year earnings guidance, citing in part a weaker yen.

Suzuki Motor expects net profit to rise 18.5% to Y190.00 billion, up from its previous view of Y135.00 billion, and revenue to increase 26% to Y4.500 trillion, up from Y3.900 trillion projected previously.

Write to Justina Lee at

(END) Dow Jones Newswires

11-08-22 2125ET