Daihatsu Diesel sales rise but profits fall on FX hits

Daihatsu Diesel Mfg reported a 3.0% increase in net sales to 20,980 million yen for the first quarter, but operating profit fell 4.3% to 1,487 million yen and ordinary profit dropped 18.0% to 1,483 million yen.

The profit decline was attributed to foreign exchange fluctuations and rising personnel costs despite strong shipping industry demand.

The company announced a record-high order backlog of 91,923 million yen, up 34.8% year-on-year, indicating continued strong demand for its marine engines and maintenance services.