Suzuki to lower Hungarian capital 30%

Crops

Japanʼs Suzuki Motor Corporation is planning to reduce capital at its Hungarian unit by approximately 30%, precisely €156 mln, and use the freed up resources for developments at other plants, Magyar Suzuki said on Friday. 

The Hungarian subsidiary noted that shareholders approved the capital decrease. According to the firm the Hungarian production will not be affected by the move in “any way”, adding that it will remain “substantially overcapitalized”.

Net assets will remain over 50% of total assets, which translates as "outstanding liquidity" within the automotive industry, Magyar Suzuki said. Magyar Suzukiʼs registered capital will be reduced from €303 mln to €213 mln. Profit reserves will fall from about €218 mln to €153 mln, and capital reserves will drop from almost €5 mln to a little over €3 mln.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

BFK developing regional cycling strategy City

BFK developing regional cycling strategy

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.