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    6023   JP3497000004

DAIHATSU DIESEL MFG. CO., LTD.

(6023)
  Report
End-of-day quote. End-of-day quote Japan Exchange - 12/03
507 JPY   +1.81%
09/17Indonesia reinstates temporary tax break for small-car sales
RE
07/21Suzuki and Daihatsu join Toyota electric vehicle venture
RE
07/14Indonesia June auto sales up 476.1% Y/Y
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Indonesia reinstates temporary tax break for small-car sales

09/17/2021 | 03:22am EST
A customer looks at a Daihatsu Ayla car at a Daihatsu showroom in Jakarta

JAKARTA (Reuters) - Indonesia has reinstated a temporary luxury-tax break on sales of smaller cars as the concession helped boost demand for vehicles, the finance ministry said on Friday.

The tax break, which had expired in August, will now be available till the end of the year, the ministry said in a statement.

Japanese brands such as Toyota, Daihatsu, Mitsubishi and Honda dominate Indonesia's domestic car market, Southeast Asia's biggest.

Indonesia's biggest listed car distributors are Astra International and Indomobil Sukses Internasional.

Sedans and two-wheel drive cars with engine capacity under 1,500 cc will now be exempt from luxury tax until the year-end.

The ministry did not provide an estimate of revenue loss from the tax break.

The government introduced the tax break in March to incentivise car purchases, which had been hit by an economic slowdown due to the impact of the coronavirus pandemic.

It was initially due to expire in June, but was extended until end-August.

Auto production rose 49% in January-July on a yearly basis, not just for domestic market but also exports, the ministry said. Monthly domestic sales have also recovered, with more than 83,000 units sold in August, close to pre-pandemic levels.

(Reporting by Gayatri Suroyo; Editing by Muralikumar Anantharaman)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DAIHATSU DIESEL MFG. CO., LTD. 1.81% 507 End-of-day quote.26.75%
HONDA MOTOR CO., LTD. 0.53% 3199 End-of-day quote.11.17%
MITSUBISHI MOTORS CORPORATION 2.33% 351 End-of-day quote.61.75%
PT ASTRA INTERNATIONAL TBK -1.71% 5750 End-of-day quote.-4.56%
PT INDOMOBIL SUKSES INTERNASIONAL TBK 0.00% 940 End-of-day quote.-37.95%
TOYOTA MOTOR CORPORATION 1.64% 2079 End-of-day quote.30.64%
All news about DAIHATSU DIESEL MFG. CO., LTD.
09/17Indonesia reinstates temporary tax break for small-car sales
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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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Financials
Sales 2021 56 745 M 503 M 503 M
Net income 2021 712 M 6,31 M 6,31 M
Net cash 2021 6 148 M 54,5 M 54,5 M
P/E ratio 2021 22,4x
Yield 2021 -
Capitalization 16 101 M 142 M 143 M
EV / Sales 2020 0,12x
EV / Sales 2021 0,17x
Nbr of Employees 1 263
Free-Float 50,6%
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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