Fuji Heavy Industries Ltd., the maker of Subaru-brand cars, said Friday it forecasts the first loss in 15 years, as the global recession decimates demand for new cars and a strong yen erodes overseas sales.

Fuji Heavy forecast a ¥19 billion loss in the year ending March 31, it said, scrapping a previous forecast of ¥10 billion in net income.

The company will post a ¥9 billion operating loss, compared with a previous forecast of a ¥23 billion operating profit.