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Suzuki shares gain after raising forecast on higher car demand

Shares of Suzuki Motor Corp., Japan's biggest minicar maker, rose as much as 3% after the company raised its full-year profit forecast on rising demand for compact cars in Europe and Japan.

Suzuki Motor Corp., Japan's biggest minicar maker's shares gained as much as 100 yen to 3,440 yen and changed hands at 3,410 yen as of 9:07 a.m. on the Tokyo Stock Exchange. The company is expanding production in Japan, Hungary and India to cope with demand for vehicles such as its Swift and SX4 compact cars. Higher gasoline prices spur sales of smaller, more fuel-efficient autos. The Hamamatsu City, Japan-based company expects to post a fourth consecutive record profit in the year to March 31. Suzuki yesterday raised its net income forecast 9.1% to ¥72 billion (€484 million) and its sales forecast 7.1% to ¥3 trillion. (Bloomberg)