It appears that Suzuki Motor Corporation beancounters are desperately seeking to revise the company’s annual perfomance statement through to 31 March 2020. BDN financial editor Roger Willis reports.
Until a few days ago, Suzuki’s corporate investor relations calendar was promising to deliver full-year results to shareholders on 13 May. However, that date has now abruptly disappeared, to be replaced by TBD (to be determined).
It’s a reasonable assumption that coronavirus chaos is to blame, particularly in relation to a heavy dependence on revenue and profit from the Indian sub-continent. Maruti Suzuki is India’s largest car manufacturer. And the wholly-owned Suzuki motorcycle and scooter manufacturing subsidiary there was slated to have made and sold approaching a million bikes in the past 12 months. But that was before both were obliged to cease production and sales suddenly, by Indian government lockdown orders, during their final quarter.