May 8, 2013 / 4:21 AM / 5 years ago

Fuji Heavy says to invest $400 mln to expand U.S. plant capacity

TOKYO, May 8 (Reuters) - Fuji Heavy Industries Ltd, the maker of Subaru cars, plans to invest $400 million to expand production capacity at its sole U.S. plant by around 100,000 vehicles, it said on Wednesday.

The company, which exports nearly 70 percent of its Japan-made production, wants to make more vehicles in its biggest market the United States, to limit the impact of currency moves.

Fuji Heavy, Japan’s smallest carmaker by volume, booked a record annual operating profit of 120.4 billion yen ($1.22 billion) for the financial year ended March, more than double the 44 billion yen it booked in the previous year, on strong sales in the United States, aided by the yen’s depreciation versus the dollar.

$1 = 99.0750 Japanese yen Reporting by Yoko Kubota; Editing by Daniel Magnowski

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