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  1. 1. FY2012 Financial Results May 10, 20121 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  2. 2. Contents Ⅰ. President and Representative Director : Susumu Hosoi ・FY2012 Overview Ⅱ. Director Director of the Board, and Managing Executive Officer, Corporate Planning and Financial : Toshio Sasaki 1. Business Status 2. FY2012 Financial Results 3. FY2013 Full-year Outlook Ⅲ.Q&A Statements contained in this presentation, except for historical or current facts, are based on certain assumptions and our managements judgment in light of currently available information. Therefore, these statements may be susceptible to various factors, such as uncertainty contained in the assumptions and managements judgment and economic changes in the future, which may cause to bring about different results in Isuzus 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.2 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  3. 3. President and Representative Director Susumu Hosoi3 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  4. 4. FY2012 Consolidated Results - Year-on-year Comparison - Year-on- Previous ( JPY Bil. ) FY12 FY11 Changes Forecast Net Sales 1,400.1 1,415.5 -15.4 1,430.0Operating Income 97.4 88.2 9.2 94.0 Ordinary Income 102.9 91.3 11.6 95.0 Net Income 91.3 51.6 39.7 74.0 * FX: FY12 = 79JPY/US$ FY11 = 85JPY/US$4 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  5. 5. FY2013 Full-year Outlook Full- - Consolidated, Year-on-year Comparison - Year-on- (JPY Bil.) FY13 FY12 Changes Net Sales 1,630.0 1,400.1 229.9 Operating Income 123.0 97.4 25.6 Ordinary Income 127.0 102.9 24.1 Net Income 81.0 91.3 -10.3 ※FX: FY13= 80JPY/US$ FY12= 79JPY/US$5 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  6. 6. Mid- Mid-term Business Plan: Targets and Tasks Targets Change of Business Model Support Operation (”Global 3-Core Business Organization”) Establish manufacturing Sharing CV CV No.1 in ASEAN operations in emerging marketCompany Expansion and Development engineerin (New CV foothold in Indonesia) g functions China Improve efficiency for low-cost Stabilize Japan manufacturing and sales parts domestic business procurement Extend added value operation Strength global sales Expand India Strengthen/Expand LCV base Establish self-sustained LCV business market functions Strengthen life- Enhance after-sales business Russia cycle business (expand After-Sales Center) Saudi- Enhance functions Arabia More involvement in sales Secure stable position ASC activities and its operation in emerging/advanced Stabilize business in advanced etc markets market 6 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  7. 7. Mid- Mid-term Business Plan: Progress ① CV Business in ASEAN (K.units) (K.units) (K.units) 40 25% 20 25% 50 25% 【LD】 【MD/HD】 【Total CV】 30 40 15 20% 20% 20% 30VOL & Share 20 10 in 5 ASEAN 20 15% 15% 15% 10 5 countries 10 0 10% 0 10% 0 10% 09 10 11 12 Fcst 09 10 11 12 Fcst 09 10 11 12 Fcst Source: Isuzu Motors Limited T hailand Philippine s Indonesia M alaysia Vietnam Share Achievement Future Tasks • Launch F series/Expand sales network in • Launch “Light-weight truck”, “Emerging market Indonesia HD” • Reorganization of distributors in Malaysia • Consolidate distributor in Malaysia Sales (Integrate LCV and CV) • Fully introduce “Emerging market LD” • Launch “Emerging market LD” in Vietnam - Compete with Chinese/Korean makers • Enhance manufacturing/engineering capability • Consolidate local manufacturing businesses in Indonesia foothold as a core • Establish engineering process to developManufacturing/ • Dispatch engineers from ISZJ emerging market products Engineering • Purchase land for new plant • Increase local supply • Construct CV coating line in Thailand (Gateway) 7 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  8. 8. Mid- Mid-term Business Plan: Progress ② Domestic Business / LCV Busines Achievement Future tasks • Market Share No.1 (2H of FY2012) • Further stabilize domestic business - HD: 33.0%, 2-3t: 39.5%, Bus: 36.0% • Launch next-generation HD Stabilize • Integrate dealers to enlarge market (synchronizing with China HD Japan coverage (Isuzu Motors Tohoku limited) development) domestic • Core module production (part of LD • Further improve efficiency and expand business engine) in-house production. • Expand in-house production for transmission components • Launch new D-MAX model • Launch new pick-up derivative • Establish Isuzu new export company • Fully implement export businessStrengthen/ (IMIT) • Increase self-sustainability of localExpand LCV • Develop marketing footholds in Europe engineering function business and Central America by IMIT • Develop new small-displacement • New plant (Gateway) construction diesel engine - Scheduled completion: in Fall of 20128 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  9. 9. Mid- Mid-term Business Plan: Progress ③ Life-Cycle Business / Overseas Business Life- Achievement Future tasks • Increase after sales income at • Expand business in after market consolidated dealers. • Further development of After-Sales Strengthen • Expand new After-Sales Center Center life-cycle - Mid-east, Central America, Australia, - ASEAN, South America, Africa business Europe • Start construction of assembly plant in • Strengthen Isuzu-led CV business in Secure stable Saudi Arabia South America position in • Re-strengthening business in Russia - GMICA development to other regionsemerging/adva • Increase ownership stake in SMLI and • Consolidate DB in Mexico nced markets launch CV with Isuzu’s component in India • Implement manufacturing operation in South Africa • Launch HD Engineering Center in • Stabilize business in advanced market • Implement HD business in China Chongqing • Consolidation of component Establish • Newly-created “India Project Team” manufacturing company in China support operation • Study continuing business with Jiangling • Implement LCV manufacturing and sales operations in India 9 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  10. 10. Director of the Board, and Managing Executive Officer, Corporate Planning and Financial Toshio Sasaki10 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  11. 11. Ⅱ-1. Business Status11 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  12. 12. CV/LCV Global Shipment - Vehicle and KD-SET, etc: K-units KD- K- ・Reinforcing overseas operating Capabilities ・Entering New Markets The Great East Japan800 Earthquake Global 693 Flooding 643 (636) 619 (547) 640 Financial in Thailand crisis ( ):Overseas unit (567) 598 568 543 (520) 554 (552) (509)600 (453) (500) Inventory Adjustment 427 LCV 393 377 364 (386) 372 346 299400 302 306 CV Overseas 259200 151 148 170 203 211 243 194 206 127 CV Domestic 90 99 96 73 54 42 47 59 57 0 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 Forecast12 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  13. 13. CV Global Shipment - Vehicle and KD-SET, etc: K-units- KD- K-units- 75 58 56 25 27 7 10 11 4 5 59 57 4 5 47’11/3 ’12/3 ’13/3 32 29 Europe Forecast 22 34 ’11/3 ’12/3 ’13/3 Forecast 14 13 China 24 10 25 6 9 48 52 ’11/3 ’12/3 ’13/3 3 5 45 ’11/3 ’12/3 ’13/3 56 54 Japan Forecast 47 North Forecast 23 28 America 27 29 22 20 ’11/3 ’12/3 ’13/3 29 18 Forecast Asia 25 28 29 ’11/3 ’12/3 ’13/3 Mid-East/ Forecast 12 14 Africa 7 9 8 13 13 3 5 4 ’11/3 4 ’12/3 ’13/3 ’11/3 ’12/3 ’13/3 Shipment FY11 FY12 FY13 : H1 Mid-South Forecast H1 131,278 118,488 - Oceania Forecast : H2 H2 120,901 150,869 - America Full-Year 252,179 269,357 300,00013 Forecast Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  14. 14. Japan Industry Sales and Isuzu Share - H/D, M/D Truck:4ton or above -(Unit) (Share) ※ FY08-FY12 :FY Actual FY08- 120,000 32.9% 35% 32.8% 31.4% 29.7% 31.1% 100,000 30% 85,116 80,000 25% 62,964 63,000 41,963 59,310 60,000 20% 51,412 26,109 H2 41,622 40,000 25,275 35,548 15% 23,764 20,000 43,153 36,855 H1 10% 26,137 23,762 17,858 0 5% FY08 FY09 FY10 FY11 FY12 FY13 Forecast 14 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  15. 15. Japan Industry Sales and Isuzu Share - L/D(2-3ton) Truck - L/D(2-(Unit) ※ FY08-FY12 : FY Actual FY08- (Share)120,000 45% 40.0% 40.2% 40.2% 38.6% 39.1%100,000 40% 89,831 80,000 35% 70,059 65,309 67,000 44,213 60,000 54,469 30% 31,177 48,859 38,486 40,000 27,980 25% 26,700 H2 20,000 45,618 20% 38,882 26,489 26,823 22,159 H1 0 15% FY08 FY09 FY10 FY11 FY12 FY13 Forecast 15 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  16. 16. LCV Global Shipment - Vehicle and KD-SET, etc: K-units - KD- K- 241 23 25 27 14 18 9 12 5 8 9 8 202 14 13 ’11/3 ’12/3 ’13/3 ’11/3 ’12/3 ’13/3 Forecast 177 Forecast Europe China 106 84 69 57 49 24 24 96 92 32 33 26 24 28 18 15 14 12 12 ’11/3 ’12/3 ’13/3 8 3 Forecast 10 12 18 13 Mid-East/ ’11/3 ’12/3 ’13/3 ’11/3 ’12/3 ’13/3 ’11/3 ’12/3 ’13/3 Africa Asia Forecast Forecast Forecast Oceania Mid-South Shipment FY11 FY12 FY1 3 America H1 179,172 163,109 - : H1 H2 167,065 135,508 - : H2 Full-Year 346,237 298,617 39 3 ,4 0 016 Forecast Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  17. 17. Pick-up truck monthly sales Pick- in Thailand(K-unit) 20.0 19.0 18.0 16.8 16.0 16.0 14.3 14.5 14.0 13.1 13.4 11.7 11.9 11.8 10.9 12.1 12.3 10.2 12.3 12.0 10.8 10.9 10.7 10.6 10.9 9.8 10.6 11.2 9.9 9.9 10.2 9.4 10.0 8.0 7.9 8.3 8.2 8.0 7.8 7.8 7.5 6.0 4.7 4.0 2.0 2.0 0.0 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR FY10 FY11 FY1217 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  18. 18. Thailand Isuzu LCV Production - Thai Domestic / Export Markets - (Unit) 330,000350,000300,000 60,700 KD-SET 240,501 237,481250,000 229,600 211,242 71,160 192,019 64,530200,000 79,245 177,922 57,645 64,485 44,325150,000 269,300100,000 169,341 127,534 133,597 172,951 150,355 153,597 Vehicle 50,000 0 FY07 FY08 FY09 FY10 FY11 FY12 FY13 Forecast18 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  19. 19. Industrial Engine Global Shipment - K-Units- Units-160 133 138 138140 126120100 67 70 84 71 H2 80 28 60 48 40 63 33 70 56 54 20 H1 15 0 FY08 FY09 FY10 FY11 FY12 FY13 Forecast C(IDI) C(DI) 4L 4J 4H 6H 6U 6W Industrial Engine ~1.1 1.6 2.2 2.4 3.0 5.2 7.8 9.8 15.7 ℓ19 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  20. 20. Ⅱ-2. FY2012 Financial Results20 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  21. 21. FY2012 Consolidated Results - Year-on-year Comparison - Year-on- ( JPY Bil. ) FY12 FY11 Changes Net Sales 1,400.1 1,415.5 -15.4 Operating Income 97.4 88.2 9.2 Ordinary Income 102.9 91.3 11.6 Net Income 91.3 51.6 39.7 * FX: FY12 = 79JPY/US$ FY11 = 85JPY/US$21 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  22. 22. FY2011 vs. FY2012 Fluctuations - Consolidated operating income: analysis of change, JPY Bil. 9.2 9.2 -7.4 11.2 -4.5 -5.1 97.4 5.8 88.2 ( Fluctuations Steel, Oil Price etc. Fluctuation Fixed Cost FX Effect of previous FY Loss on disaster/ Fixed cost), others Reduction Material Cost Sales/Model Mix Operating Income Operating Income for FY1222 for FY11 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  23. 23. FY2012 Consolidated Results - Ordinary income, Net income, Year-on-year - Year-on- ( JPY Bil. ) FY12 FY11 Changes Net Sales 1,400.1 1,415.5 -15.4 Operating Income 97.4 88.2 9.2 Ordinary Income 102.9 91.3 11.6 Net Income 91.3 51.6 39.7 Operating Income Change 9.2 Ordinary Income * Equity in Earnings of Affiliates -2.4 * Financial account balance/ FX gain and loss 4.8 Total 11.6 Extra Profit / Ordinary Income 102.9 Loss etc. * Loss on disposal of noncurrent assets,etc -1.0 * Tax and minority interests -10.6 Net Income 91.323 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  24. 24. Ⅱ-3. FY2013 Full-year Outlook24 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  25. 25. FY2013 Full-year Outlook Full- - Consolidated, Year-on-year Comparison - Year-on- (JPY Bil.) FY13 FY12 Changes Net Sales 1,630.0 1,400.1 229.9 Operating Income 123.0 97.4 25.6 Ordinary Income 127.0 102.9 24.1 Net Income 81.0 91.3 -10.3 ※FX: FY13= 80JPY/US$ FY12= 79JPY/US$25 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  26. 26. FY2012 vs. FY2013 Fluctuations - Consolidated operating income: analysis of change, JPY:Bil. - 25.6 8.0 0 -12.4 32.0 -0.5 -1.5 123.0 Fluctuations Steel, Oil Price etc. ( Reduction Material Cost Fluctuations Fixed Cost Effect of previous FY Loss on disaster/ Fixed cost) FX 97.4 Sales/Model Mix (Forecast) Operating Income for FY12 Operating Income for FY1326 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  27. 27. FY2013 Full-year Outlook Full- - Ordinary income, Net income, Year-on-year - Year-on- ( JPY Bil. ) FY13 FY12 Changes Net Sales 1,630.0 1,400.1 229.9 Operating Income 123.0 97.4 25.6 Ordinary Income 127.0 102.9 24.1 Net Income 81.0 91.3 -10.3 Operating Profit Change 25.6 Ordinary Income * Equity in Earnings of Affiliates 1.3 * Financial account balance/ FX gain and loss, Other -2.8 Total 24.1 Extra Profit/ Ordinary Income 127.0 Loss etc. * Loss on disposal of noncurrent assets,etc. -1.0 * Tax and minority interests -45.0 Net Income 81.027 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  28. 28. [Appendix] Main Financial Index28 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  29. 29. CAPEX and Depreciation (Consolidated) - Recent Trend and Forecast - (JPY Bil.) 70.0 66.7 66.0 60.0 50.0 50.6 41.5 40.0 39.6 39.5 36.4 36.0 35.0 33.3 30.0 29.4 Depreciation CAPEX 25.7 20.0 10.0 0.0 FY08 FY09 FY10 *1 FY11 *1 FY12 *1 FY13 *1 *1 *1 FY09 or later included lease (Forecast)29 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  30. 30. Consolidated Revenue by Segment (JPY Bil.)2,000.0 1,791.61,800.01,600.0 463.2 1,424.7 1,415.5 1,400.1 (26%)1,400.0 Others1,200.0 437.5 1,080.9 361.5 (26%) 345.6 (31%) (25%)1,000.0 531.7 Asia (30%) 242.7 Overseas (60%) 800.0 369.3 (22%) 492.6 424.0 (30%) 142.0 (26%) 352.5 (35%) North 600.0 (8%) 84.1 (33%) 72.1 62.8 America(5%) 400.0 (6%) 52.7 (4%) 654.7 533.8 (5%) Domestic 200.0 (36%) 433.0 498.6 558.4 (40%) (37%) (35%) (40%) (40%) Domestic 0.0 FY08 Exc ASEAN FY09 FY10 FY11 FY12 Jan-Mar30 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  31. 31. Consolidated Revenue by Segment - LCV, CV, PT&Compo, Others (KD, parts) - (JPY Bil.) 2000.0 1,791.6 1800.0 1600.0 426.6 1,424.7 1,415.5 1,400.1 1400.0 1200.0 286.2 360.9 1,080.9 345.4 364.1 Others 1000.0 183.8 156.9 183.5 292.1 P T &C om p o 800.0 744.6 141.2 600.0 656.5 617.2 654.5 400.0 446.2 CV 200.0 334.2 223.8 201.4 269.1 224.6 LCV/S U V 0.0 FY08 ASEAN Exc FY09 FY10 FY11 FY1231 Jan-Mar Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  32. 32. Operating Margin: Historical Trend(JPY Bil.) (%)120 12 107.0 109.6 97.4100 10 88.2 80 8 7.0 6.4 6.2 5.7 60 6 (Consolidated) Operating Income Operating Margin 40 4 21.7 20 11.0 2 1.5 1.0 0 0 FY07 FY08 FY09 FY10 FY11 FY1232 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  33. 33. Consolidated Equity Ratio: Historical Trend - Consolidated- Consolidated- (JPY Bil.) (%) 450.0 45 415.5 400.0 40 360.3 350.0 Consolidated 328.1 35 Equity Ratio 34.2 297.6 300.0 280.6 30 28.9 29.5 250.0 27.3 26.8 25 Consolidated Equity Capital 200.0 20 150.0 15 100.0 10 50.0 5 0.0 0 FY08 FY09 FY10 FY11 FY1233 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  34. 34. Inventory Balance - Consolidated -- (JPY Bil.) (Month) 180 1.6 160 152.1 Month Turnover 154.5 1.4 140 1.3 1.2 119.8 120 1.2 106.4 101.0 1.0 100 1.0 1.0 0.9 0.8 80 0.6 60 0.4 40 0.2 20 0 0.0 FY08 FY09 FY10 FY11 FY1234 Copyright(C) 2012 Isuzu Motors Limited All rights reserved
  35. 35. 35 Copyright(C) 2012 Isuzu Motors Limited All rights reserved

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