05 12-14 isuzu results-q4-1
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05 12-14 isuzu results-q4-1 Presentation Transcript

  • 1. 1 Copyright(C) 2012 Isuzu Motors Limited All rights reserved FY2013 H1 Financial ResultsFY2013 H1 Financial Results November 7, 2012November 7, 2012
  • 2. 2 Copyright(C) 2012 Isuzu Motors Limited All rights reserved Ⅰ. President and Representative Director : Susumu Hosoi :FY2013 H1 Financial Summary Outline :Progress of Mid-term Business Strategy( April 2011-March 2014) Ⅱ. Director : Toshio Sasaki 1. Business Status 2. FY2013 H1 Financial Summary 3. FY2013 Full-year Outlook Ⅲ. Q&A Session ContentsContents Statements contained in this presentation, except for historical or current facts, are based on certain assumptions and our management's judgment in light of currently available information. Therefore, these statements may be susceptible to various factors, such as uncertainty contained in the assumptions and management's judgment and economic changes in the future, which may cause to bring about different results in Isuzu's future earnings and operating results. Moreover, this presentation is not intended to solicit investment in Isuzu. Isuzu assumes no responsibility for any losses and liabilities that may be incurred because of the information in this presentation.
  • 3. 3 Copyright(C) 2012 Isuzu Motors Limited All rights reserved President and Representative Director Susumu Hosoi
  • 4. 4 Copyright(C) 2012 Isuzu Motors Limited All rights reserved ( JPY Bil. ) FY13 H1 F12 H1 Changes FY13 H1plan Net Sales 780.1 658.1 122.0 790.0 Operating Income 57.3 43.8 13.5 50.0 Ordinary Income 60.4 45.1 15.3 52.0 Net Income 42.1 33.7 8.4 35.0 FY2013 H1 Consolidated ResultsFY2013 H1 Consolidated Results -- YearYear--onon--year Comparisonyear Comparison -- * FX: FY13 H1 = 80JPY/US$ FY12 H1= 81JPY/US$
  • 5. 5 Copyright(C) 2012 Isuzu Motors Limited All rights reserved FY2013 FullFY2013 Full--year Outlookyear Outlook -- YearYear--onon--year Comparisonyear Comparison -- FY12 FY13 Previous plan Net Sales 1,630.0 1,400.1 229.9 1,630.0 Operating Income 126.0 97.4 28.6 123.0 Ordinary Income 133.0 102.9 30.1 127.0 Net Income 91.0 91.3 -0.3 81.0 ChangesFY13 Forecast(JPY Bil) ※FX: FY13 = 80JPY/US$ FY12 = 79JPY/US$
  • 6. 6 Copyright(C) 2012 Isuzu Motors Limited All rights reserved Progress of Mid-term Business Plan (April 2011April 2011 –– March 2014March 2014)
  • 7. 7 Copyright(C) 2012 Isuzu Motors Limited All rights reserved MidMid--term Business Plan Outlineterm Business Plan Outline [ Japan ] CV foothold for advanced market [ Indonesia ] CV foothold for emerging market Low-cost parts/ engineering function sharing [ Thailand ] LCV foothold Low-cost parts/ base market expansion Europe,Europe, CISCIS MiddleMiddle EastEast AfricaAfrica NorthNorth AmericaAmerica Central andCentral and South AmericaSouth America AustraliaAustralia Stabilize JapanStabilize Japan domestic businessdomestic business Strength/ExpandStrength/Expand LCV businessLCV business Enhance ASEANEnhance ASEAN CV BusinessCV Business Secure stableSecure stable position in emerging/position in emerging/ advanced marketsadvanced markets Establish supportEstablish support operationsoperations Secure stable positionSecure stable position in emerging/in emerging/ advanced marketsadvanced markets Stabilizing Isuzu’s commercial vehicle business [China (Qingling)] CV support operations [India, China (Jiangling)] LCV support operations
  • 8. 8 Copyright(C) 2012 Isuzu Motors Limited All rights reserved Gateway new plant Commencement ceremony (2012 October) Strength/Expand LCVStrength/Expand LCV BBusinessusiness -- ThailandThailand --  Introduce a new LCV model  OctoberOctober 2011 : Started the sale of the fully redesigned pick2011 : Started the sale of the fully redesigned pick--up truck in theup truck in the TThai market.hai market.  Introduce derivatives.  Establish an export company (IMIT) and strengthen global sales.  2012 : Started export of the new2012 : Started export of the new pickpick--up truckup truck for thefor the EuropeEuropeaan andn and AustralianAustralian markets.markets.  Introduce the new pickup model to more markets and develop new markets.  OctoberOctober 20120122 :: Launched the new plantLaunched the new plant inin Gateway andGateway and increasedincreased a productiona production capacitycapacity toto 400,000 units of the400,000 units of the pickpick--up truck.up truck.  Establish further self-sustained engineering functions in Thailand.
  • 9. 9 Copyright(C) 2012 Isuzu Motors Limited All rights reserved Thailand Philippine Indonesia Malaysia Vietnam Share  Develop and introduce optimal products for emerging markets.  Started sales of F Series in Indonesia and of the truck fit for emerging market (“QCDStarted sales of F Series in Indonesia and of the truck fit for emerging market (“QCD Vehicle”) in Vietnam.Vehicle”) in Vietnam.  Strengthen manufacturing functions using Indonesia foothold as a core.  Localized engineering functions and reinforced local workface (2012 April).Localized engineering functions and reinforced local workface (2012 April).  SecuredSecured a site for the new plant.a site for the new plant.  Expand parts localization (in progress with Isuzu affiliates)Expand parts localization (in progress with Isuzu affiliates)  Consolidate a local manufacturing company.  Strengthen the sales network (parts supply system and service network establishment).  Launched a new mechanic school in Indonesia (in the local joint venture).Launched a new mechanic school in Indonesia (in the local joint venture). (thousand units) [CV total] Enhance ASEAN CV BusinessEnhance ASEAN CV Business 0 10 20 30 40 50 '09 '10 '11 '12 10% 15% 20% 25%
  • 10. 10 Copyright(C) 2012 Isuzu Motors Limited All rights reserved  AugustAugust 2012 : Introduced the HD route bus ERGA HYBRID.2012 : Introduced the HD route bus ERGA HYBRID.  Strengthen cost competitiveness by streamlining sales/manufacturing.  Integrated dealers to cover extensive areas (consolidation: 15Integrated dealers to cover extensive areas (consolidation: 15  6 companies,6 companies, Isuzu Motors Tohoku Limited inIsuzu Motors Tohoku Limited in 2012 April).2012 April).  Converged administrative work between the distributer and dealers (VehicleConverged administrative work between the distributer and dealers (Vehicle operation center function in 2012 October).operation center function in 2012 October).  Increase core module manufacturing and establish flexible production lines (mutual complementation of HD and LD lines).  Enhance the life cycle business.  Started expansion of life cycle business.Started expansion of life cycle business. H/D route bus ERGA HYBRID Isuzu Motors Tohoku Limited, head office Stabilize JapanStabilize Japan DDomesticomestic BBusinessusiness
  • 11. 11 Copyright(C) 2012 Isuzu Motors Limited All rights reserved  Iintroduce heavy-duty truck/engine (CV full line-up ) and strengthen global HD competitiveness.  AugustAugust 2012 : Launched Isuzu Qingling (Chongqing) Engineering Co. , Ltd.:2012 : Launched Isuzu Qingling (Chongqing) Engineering Co. , Ltd.: Joint development for nextJoint development for next--generation HDgeneration HD  AugustAugust 2012 : Isuzu Qingling (Chongqing) Autoparts Co., Ltd. : Localization of2012 : Isuzu Qingling (Chongqing) Autoparts Co., Ltd. : Localization of engines and components, export base.engines and components, export base.  Incorporate and increase earnings by means of consolidation of component manufacturing operation and sales expansion thereof including industrial engines. CV businessCV business LCVLCV businessbusiness  Contribute to the LCV business by introducing pick-up trucks and derivatives.  AugustAugust 2012 : Agreed to launch a joint ventures for vehicle and engine production and2012 : Agreed to launch a joint ventures for vehicle and engine production and sales (with Jiangling Motors Co., Ltd.)sales (with Jiangling Motors Co., Ltd.)  JIANGXI ISUZU MOTORS CO., LTD.JIANGXI ISUZU MOTORS CO., LTD. ((VVehicleehicle))  JIANGXI ISUZU ENGINE CO., LTD.JIANGXI ISUZU ENGINE CO., LTD. (Engine)(Engine) EstablishEstablish SSupportupport OOperationsperations -- ChinaChina --
  • 12. 12 Copyright(C) 2012 Isuzu Motors Limited All rights reserved CVCV businessbusiness  July 2011 : Introduced best suited product for India equipped with Isuzu componentsJuly 2011 : Introduced best suited product for India equipped with Isuzu components based on the existing SML truck.based on the existing SML truck.  Strengthen SMLI functions.  AprilApril 20122012 :: Increased the investment ratioIncreased the investment ratio from 4 to 15%) and dispatchedfrom 4 to 15%) and dispatched engineering and sales personnel.engineering and sales personnel.  Establish a dedicated task force team in SMLI to reorganize DLR network. LCV businessLCV business EEstablishstablish SSupportupport OOperationsperations -- IndiaIndia --  Introduce a low cost LCV model and emerging market products (new market entry).  Establish Isuzu-led manufacturing operations and sales network.  AugustAugust 20122012 : Launched Isuzu Motors India (Chennai).: Launched Isuzu Motors India (Chennai).  Contribute to CV/LCV business for emerging market through low-cost parts and products.
  • 13. 13 Copyright(C) 2012 Isuzu Motors Limited All rights reserved Middle EastMiddle East  June 2011 : Launched Isuzu Saudi Arabia and launched the KD assembly plant by2011 : Launched Isuzu Saudi Arabia and launched the KD assembly plant by the end of 2012.the end of 2012.  2012 : Expanded the territory of Isuzu Middle East (After2012 : Expanded the territory of Isuzu Middle East (After--Sales Center) (East Africa).Sales Center) (East Africa). South America / AfricaSouth America / Africa  Further Isuzu involvement  CV Sales business in South America, CV sales/manufacturing in South Africa CIS / AustraliaCIS / Australia * DB: Distributer KD Assembly plant in Saudi Arabia  ReRe--strengthened business in Russia: Increased the investment ratio instrengthened business in Russia: Increased the investment ratio in SollersSollers Isuzu (from 29 to 45%).Isuzu (from 29 to 45%).  Strengthened parts business of the Australia DB subsidiary (serves as a hub forStrengthened parts business of the Australia DB subsidiary (serves as a hub for parts operation in Oceania).parts operation in Oceania). SecureSecure SStabletable PPosition inosition in EEmerging/merging/AAdvanceddvanced MMarketsarkets
  • 14. 14 Copyright(C) 2012 Isuzu Motors Limited All rights reserved Changing points from the Mid-term Business Plan development Surrounding environment at the Mid- term Business Plan development  Greater uncertainty for global economy. - Chinese/India economy slowdown, European sovereign debt crisis.  Higher environmental awareness, diversified fuel types  Worse environment in manufacturing in Japan. - Manufacturers in Japan face six-fold difficulties (continuous strong JPY /power restrain, etc.)  Global eonomy: Economic stagnation continues in the advanced countries.  Competition: Rise of Chinese, Korean, and Indian manufacturers.  Product/technologies: Expand product ranges for customer needs. Drastic rise of cost for environmental measures.  Domestic Operations: Deteriorated business environment surrounding transport business.  Supply chain in Japan: Risk of overconcentration in Japan. Steady execution of the Mid-term Business Plan High efficiency DE development and activities toward future technology Toward MidToward Mid--term Business Plan Advancementterm Business Plan Advancement
  • 15. 15 Copyright(C) 2012 Isuzu Motors Limited All rights reserved Director of the Board, and Managing Executive Officer, Corporate Planning and Financial Toshio Sasaki
  • 16. 16 Copyright(C) 2012 Isuzu Motors Limited All rights reserved ⅡⅡ--11 .. Business StatusBusiness Status
  • 17. 17 Copyright(C) 2012 Isuzu Motors Limited All rights reserved CV/LCV Global ShipmentCV/LCV Global Shipment -- Vehicle and KDVehicle and KD--SET, etc: KSET, etc: K--unitsunits 90 99 96 54 42 47 59 60 151 148 170 194 127 206 211 221 302 306 259 346 299 407 73 203 372 364377 0 200 400 600 800 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 LCV CV Overseas 619 643 543 CV Domestic (453) (520) (547) 640 (567) 554 (500) 427 (386) 598 (552) ( ):Overseas Unit568 (509) ForecastForecast The Great East Japan Earthquake Flooding in Thailand 689 (628) ・Reinforcing overseas operating Capabilities ・Entering New Markets Global Financial crisis Inventory Adjustment
  • 18. 18 Copyright(C) 2012 Isuzu Motors Limited All rights reserved Japan 25 47 North America 6 14 25 4 4 Asia 29 27 4 Europe China 5858 59 27272525 77 1010 2828 5656 9 CV Global ShipmentCV Global Shipment -- Vehicle and KDVehicle and KD--SET, etc: KSET, etc: K--unitsunits 24 2929 44 13 18 7 : H1Shipment FY11 FY12 FY13 H1 131,278 118,488 135,447 H2 120,901 150,869 146,153 Full-year 252,179 269,357 281,600 3434 ’11/3 ’12/3 ’13/3’13/3 ForecastForecast ForecastForecast 6060 1111 3232 7070 5353 1212 34 3 1010 ’11/3 ’12/3 ’13/3’13/3 ForecastForecast ’11/3 ’12/3 ’13/3’13/3 ForecastForecast ’11/3 ’12/3 ’13/3’13/3 ForecastForecast ’11/3 ’12/3 ’13/3’13/3 ForecastForecast ’11/3 ’12/3 ’13/3’13/3 ForecastForecast ’11/3 ’12/3 ’13/3’13/3 ForecastForecast ’11/3 ’12/3 ’13/3’13/3 ForecastForecast 22 3232 5656 5 1010 55 12 133 5 9 1414 5 29 4747 48 : H2 30 22 20 23 45 28 29 20 25 5 6 15 5 Mid-South America Oceania Mid-East/ Africa
  • 19. 19 Copyright(C) 2012 Isuzu Motors Limited All rights reserved 43,153 36,855 17,858 26,137 31,927 41,963 26,109 23,764 25,275 23,762 35,548 33.7% 31.4% 29.7% 32.9% 32.8% 31.1% 0 20,000 40,000 60,000 80,000 100,000 120,000 FY08 FY09 FY10 FY11 FY12 FY13 5% 10% 15% 20% 25% 30% 35% H2 H1 (Unit) (Share) 51,41251,412 Japan Industry Sales and Isuzu ShareJapan Industry Sales and Isuzu Share -- H/D, M/D Truck:4ton or aboveH/D, M/D Truck:4ton or above -- 85,116 62,964 41,622 59,31059,310 ForecastForecast H1 ActualH1 Actual FY08-FY12 : FY Actual FY13: FY13-H1 Actual FY08-FY12 : FY Actual FY13: FY13-H1 Actual
  • 20. 20 Copyright(C) 2012 Isuzu Motors Limited All rights reserved (Unit) 45,618 38,882 22,159 26,489 36,905 44,213 31,177 26,700 26,823 38,486 27,980 38.6% 39.1% 40.0% 40.2% 40.2% 39.6% 0 20,000 40,000 60,000 80,000 100,000 120,000 FY08 FY09 FY10 FY11 FY12 FY13 15% 20% 25% 30% 35% 40% 45% H2 H1 (Share) 70,059 54,469 48,859 Japan Industry Sales and Isuzu ShareJapan Industry Sales and Isuzu Share -- L/D(2L/D(2--3ton) Truck3ton) Truck -- 89,831 65,309 ForecastForecast H1 ActualH1 Actual FY08-FY12 : FY Actual FY13: FY13-H1 Actual FY08-FY12 : FY Actual FY13: FY13-H1 Actual
  • 21. 21 Copyright(C) 2012 Isuzu Motors Limited All rights reserved : H1 : H2 1812 Asia 92 49 1414 Europe China 2525 202202 1515 LCV Global ShipmentLCV Global Shipment -- Vehicle and KDVehicle and KD--SET, etc: KSET, etc: K--unitsunits -- 26 32 23 13139 88 5 14 96 106 33 24 10 18 Shipment FY11 FY12 FY13 H1 179,172 163,109 197,638 H2 167,065 135,508 209,462 Full-year 346,237 298,617 407,100 2121 1717 3030 263263 6464 1212 ForecastForecast 99 ’11/3 ’12/3 ’13/3’13/3 ForecastForecast 177177 84 1414 1212 57 24 88 13 12 24 8 3 121 12 32 11 16 6 ’11/3 ’12/3 ’13/3’13/3 ForecastForecast ’11/3 ’12/3 ’13/3’13/3 ForecastForecast ’11/3 ’12/3 ’13/3’13/3 ForecastForecast ’11/3 ’12/3 ’13/3’13/3 ForecastForecast ’11/3 ’12/3 ’13/3’13/3 ForecastForecast Oceania Mid-South America Mid-East/ Africa
  • 22. 22 Copyright(C) 2012 Isuzu Motors Limited All rights reserved PickPick--up truck monthly salesup truck monthly sales in Thailandin Thailand (K-Unit) 10.9 13.1 14.3 16.0 11.7 12.1 16.8 19.0 12.1 15.4 15.6 14.8 17.6 15.7 10.6 14.5 13.4 10.610.710.9 9.9 11.9 10.2 7.5 2.0 4.7 9.9 10.911.8 10.8 0 2 4 6 8 10 12 14 16 18 20 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR FY11 FY12 FY13
  • 23. 23 Copyright(C) 2012 Isuzu Motors Limited All rights reserved Thailand LCV ShipmentThailand LCV Shipment -- Thai Domestic / Export MarketsThai Domestic / Export Markets ---- 169,341 71,160 150,355 79,245 127,534 64,485 133,597 44,325 172,951 64,530 153,597 57,645 285,000 57,000 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 FY07 FY08 FY09 FY10 FY11 FY12 FY13 Vehicle KD-SET Forecast 177,922 342,000 192,019 240,501 229,600 (Unit) 237,481 211,242
  • 24. 24 Copyright(C) 2012 Isuzu Motors Limited All rights reserved 63 56 15 54 70 70 28 33 71 67 46 56 0 20 40 60 80 100 120 140 160 FY08 FY09 FY10 FY11 FY12 FY13 138133 84 48 126 102 H2 H1 Forecast Industrial EngineIndustrial Engine Global ShipmentGlobal Shipment -- KK--UnitsUnits-- Industrial Engine ~1.1 1.6 2.2 2.4 3.0 5.2 7.8 9.8 15.7 ℓ C(IDI) C(DI) 4L 4J 4H 6H 6U 6W
  • 25. 25 Copyright(C) 2012 Isuzu Motors Limited All rights reserved ⅡⅡ--22.. FY2013 H1 Financial SummaryFY2013 H1 Financial Summary April 2012April 2012 –– September 2012September 2012
  • 26. 26 Copyright(C) 2012 Isuzu Motors Limited All rights reserved ( JPY Bil. ) FY13 H1 F12 H1 Changes FY13 H1plan Net Sales 780.1 658.1 122.0 790.0 Operating Income 57.3 43.8 13.5 50.0 Ordinary Income 60.4 45.1 15.3 52.0 Net Income 42.1 33.7 8.4 35.0 FY2013 H1 Consolidated ResultsFY2013 H1 Consolidated Results -- YearYear--onon--year Comparisonyear Comparison -- * FX: FY13 H1 = 80JPY/US$ FY12 H1= 81JPY/US$
  • 27. 27 Copyright(C) 2012 Isuzu Motors Limited All rights reserved FY2012 vs. FY2013 H1 FluctuationsFY2012 vs. FY2013 H1 Fluctuations -- Consolidated operating income: analysis of change, JPY:Bil.Consolidated operating income: analysis of change, JPY:Bil. -- -11.4 ’ 43.8 13.5 22.3 3.4 -0.3 57.3 1.2 -1.7 Operating Income for FY12 H1 Operating Income for FY13 H1 MaterialCost Reduction Sales/ModelMix Steel,OilPriceetc. Fluctuations FixedCost Fluctuation FX EffectofpreviousFY ( Lossondisaster/Fixedcost),others
  • 28. 28 Copyright(C) 2012 Isuzu Motors Limited All rights reserved FY2013 H1 Consolidated ResultsFY2013 H1 Consolidated Results -- Ordinary income, Net income, YearOrdinary income, Net income, Year--onon--yearyear -- Operating Income Change 13.5 * Equity in Earnings of Affiliates: 1.9 * Financial account balance/ FX gain and loss, Other -0.1 Total 15.3 Ordinary Income 60.4 * Loss on disposal of noncurrent assets,etc -0.8 * Tax and minority interests: -17.5 Net Income 42.1 Ordinary Income ExtraProfit/ Lossetc. ( JPYBil. ) FY13 H1 FY12 H1 Changes Net Sales 780.1 658.1 122.0 Operating Income 57.3 43.8 13.5 OrdinaryIncome 60.4 45.1 15.3 Net Income 42.1 33.7 8.4
  • 29. 29 Copyright(C) 2012 Isuzu Motors Limited All rights reserved ⅡⅡ--33.. FY2013 FullFY2013 Full--year Outlookyear Outlook
  • 30. 30 Copyright(C) 2012 Isuzu Motors Limited All rights reserved FY2013 FullFY2013 Full--year Outlookyear Outlook -- YearYear--onon--year Comparisonyear Comparison -- FY12 FY13 Previous plan Net Sales 1,630.0 1,400.1 229.9 1,630.0 Operating Income 126.0 97.4 28.6 123.0 Ordinary Income 133.0 102.9 30.1 127.0 Net Income 91.0 91.3 -0.3 81.0 ChangesFY13 Forecast(JPY Bil) ※FX: FY13 = 80JPY/US$ FY12 = 79JPY/US$
  • 31. 31 Copyright(C) 2012 Isuzu Motors Limited All rights reserved FY2012 vs. FY2013FY2012 vs. FY2013 FluctuationsFluctuations -- Consolidated operating income: analysis of change, JPY:Bil.Consolidated operating income: analysis of change, JPY:Bil. 97.4 28.6 32.5 8.0 126.0 (Forecast) -1.5 -11.4 -1.5 2.5 Operating Income for FY12 Operating Income for FY13 EffectofpreviousFY ( Lossondisaster/Fixedcost) FX FixedCost Fluctuation Steel,OilPriceetc. Fluctuations Sales/ModelMix MaterialCost Reduction
  • 32. 32 Copyright(C) 2012 Isuzu Motors Limited All rights reserved FY2013 FullFY2013 Full--year Outlookyear Outlook -- Ordinary income, Net income, YearOrdinary income, Net income, Year--onon--yearyear -- ( JPY Bil. ) FY13 FY12 Changes Net Sales 1,630.0 1,400.1 229.9 Operating Income 126.0 97.4 28.6 Ordinary Income 133.0 102.9 30.1 Net Income 91.0 91.3 -0.3 Operating Income Change 28.6 * Equity in Earnings of Affiliates: 4.0 * Financial account balance/ FX gain and loss, Other: -2.5 Total 30.1 Ordinary Income 133.0 * Loss on disposal of noncurrent assets,etc: -0.5 * Tax and minority interests: -41.5 Net Income 91.0 Ordinary Income ExtraProfit/ Lossetc.
  • 33. 33 Copyright(C) 2012 Isuzu Motors Limited All rights reserved [Appendix][Appendix] Main Financial IndexMain Financial Index
  • 34. 34 Copyright(C) 2012 Isuzu Motors Limited All rights reserved CAPEX and Depreciation (Consolidated)CAPEX and Depreciation (Consolidated) -- Recent Trend and ForecastRecent Trend and Forecast -- *1 *1 *1*1 (Forecast) *1 (JPY:Bil) *1 FY09 or later included lease 50.6 41.5 66.7 39.6 25.7 39.5 29.4 36.4 33.3 36.0 67.0 35.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 FY08 FY09 FY10 FY11 FY12 FY13
  • 35. 35 Copyright(C) 2012 Isuzu Motors Limited All rights reserved 442.9 353.8 280.6 258.4 297.6 312.6 328.1 415.5 196.0 274.8 325.9 363.4 315.0 300.6 273.6 203.1 0.44 0.78 1.16 1.41 1.06 0.96 0.83 0.49 -500 -400 -300 -200 -100 0 100 200 300 400 500 '09/3 '09/9 '10/3 '10/9 '11/3 '11/9 '12/3 '12/9 -5 0 5 DER (DER) Interest Bearing Debt / Equity Capital (Consolidated)Interest Bearing Debt / Equity Capital (Consolidated) (JPY:Bil) Interest BearingDebt Equity Capital
  • 36. 36 Copyright(C) 2012 Isuzu Motors Limited All rights reserved 116.8 107.8 182.2 275.4 293.3 269.2 385.3 372.7 92.2 94.1 93.3 52.5 147.0 136.9 155.2 177.2 178.8 172.7 139.4129.7128.073.477.7 323.9 262.7 183.5 63.689.7 64.9 49.0 185.3168.2 0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 800.0 900.0 1000.0 '09/3 '09/9 '10/3 '10/9 '11/3 '11/9 '12/3 '12/9 Others PT&Compo CV LCV 690.6 565.0 442.8 658.1 742.0 638.1 724.9 780.1 Consolidated Net Sales by SegmentConsolidated Net Sales by Segment -- LCV, CV, PT&Compo, Others(KD, parts)LCV, CV, PT&Compo, Others(KD, parts) -- (JPY:Bil)
  • 37. 37 Copyright(C) 2012 Isuzu Motors Limited All rights reserved 353.8 415.5 280.6 258.4 297.6 312.6 328.1 442.9 27.3 24.9 26.8 29.5 30.5 34.2 36.2 27.4 0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0 500.0 '09/3 '09/9 '10/3 '10/9 '11/3 '11/9 '12/3 '12/9 0 5 10 15 20 25 30 35 40 45 50 Consolidated Equity Ratio (%) Consolidated Equity Ratio: Historical TrendConsolidated Equity Ratio: Historical Trend (JPY:Bil.) Consolidated EquityCapital
  • 38. 38 Copyright(C) 2012 Isuzu Motors Limited All rights reserved 110.0 106.4 109.3 138.2 154.5 157.1 101.0 119.8 1.3 1.3 1.2 1.3 1.5 1.0 0.9 0.9 0 50 100 150 200 250 300 '09/3 '09/9 '10/3 '10/9 '11/3 '11/9 '12/3 '12/9 0.0 0.3 0.6 0.9 1.2 1.5 1.8 Inventory BalanceInventory Balance -- ConsolidatedConsolidated -- (JPY:Bil.) (Month) Month Turnover
  • 39. 39 Copyright(C) 2012 Isuzu Motors Limited All rights reserved CAPEX and Depreciation (Consolidated)CAPEX and Depreciation (Consolidated) -- Recent TrendRecent Trend -- 26.9 16.9 20.0 13.3 14.3 15.113.8 11.9 18.018.018.118.3 19.819.7 0.0 5.0 10.0 15.0 20.0 25.0 30.0 '09/9 '10/3 '10/9 '11/3 '11/9 '12/3 '12/9 (JPY:Bil.) Depreciation CAPEX
  • 40. 40 Copyright(C) 2012 Isuzu Motors Limited All rights reserved