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    6023   JP3497000004

DAIHATSU DIESEL MFG. CO., LTD.

(6023)
  Report
End-of-day quote. End-of-day quote Japan Exchange - 07/27
517 JPY   +4.87%
07/21Suzuki and Daihatsu join Toyota electric vehicle venture
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07/14Indonesia June auto sales up 476.1% Y/Y
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06/12Indonesia plans to extend tax breaks on two-wheel drive cars
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Indonesia plans to extend tax breaks on two-wheel drive cars

06/12/2021 | 11:43pm EDT

JAKARTA (Reuters) - Indonesia aims to extend a luxury tax break on the sale of sedans and two-wheel drive cars with engine power of less than 1,500 cc to August to support its pandemic-hit automotive industry, the industry ministry said on Sunday.

The tax was fully removed in March and was supposed to be re-imposed at 50% from June. The 50% discount will now apply from August to December.

Industry Minister Agus Gumiwang Kartasasmita said the extension of the lifting of the tax was aimed at revitalising demand for a industry "that has consistently contributed significantly to the national economy".

A spokesperson at the Finance Ministry said the plan was being discussed.

Car sales in Southeast Asia's largest economy grew after the tax break was introduced in March after months of sluggish sales due to the pandemic but have yet to return to pre-pandemic levels.

Total sales in 2020 were just over 532,000 units, about half the previous year.

In April, the government introduced a 12.5%-50% tax discount on the sale of four-wheel drives and cars with engine capacity of up to 2,500 cc manufactured with at least 60% domestically sourced components.

That discount is in effect until the end of 2021.

Indonesia's car market is dominated by Japanese brands such as Toyota, Daihatsu , Mitsubishi and Honda.

Indonesia's gross domestic product contracted for the first time since the 1998 Asian financial crisis last year, by 2.07% with household consumption and investment declining.

(Reporting by Tabita Diela and Bernadette Christina Munthe; Writing by Stanley Widianto; Editing by Robert Birsel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DAIHATSU DIESEL MFG. CO., LTD. 4.87% 517 End-of-day quote.29.25%
HONDA MOTOR CO., LTD. 0.78% 3467 End-of-day quote.20.49%
MITSUBISHI MOTORS CORPORATION 2.52% 285 End-of-day quote.31.34%
PT ASTRA INTERNATIONAL TBK -0.21% 4760 End-of-day quote.-21.00%
TOYOTA MOTOR CORPORATION 0.43% 9871 End-of-day quote.24.05%
All news about DAIHATSU DIESEL MFG. CO., LTD.
07/21Suzuki and Daihatsu join Toyota electric vehicle venture
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07/14Indonesia June auto sales up 476.1% Y/Y
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06/12Indonesia plans to extend tax breaks on two-wheel drive cars
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02/11Indonesia to give tax incentives for sales of some cars
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2020Indonesia auto sales increased on monthly basis in August
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More news
Financials
Sales 2021 56 745 M 516 M 516 M
Net income 2021 712 M 6,48 M 6,48 M
Net cash 2021 6 148 M 56,0 M 56,0 M
P/E ratio 2021 22,4x
Yield 2021 -
Capitalization 16 378 M 149 M 149 M
EV / Sales 2020 0,12x
EV / Sales 2021 0,17x
Nbr of Employees 1 263
Free-Float 49,8%
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Managers and Directors
Yoshinobu Hotta President & Representative Director
Shigeki Kinoshita Chairman
Shinichi Nanba Director & Senior General Manager-Technology
Takashi Mizushina Director & Senior GM-Administration
Tamon Tsuda Independent Outside Director