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Suzuki Announces the Financial Results for FY2015 Third Quarter (April 2015 to December 2015)

Increased sales and income. Record-high in each income. 1. Outline of the Financial Results for FY2015 Third Quarter (April 2015 to December 2015) The consolidated net sales of this third quarter (April 2015 to December 2015) increased by ¥212.6 billion (9.9%) to ¥2,355.6 billion compared to the corresponding period of the previous fiscal year. The … Continued

  • Increased sales and income.
  • Record-high in each income.

1. Outline of the Financial Results for FY2015 Third Quarter (April 2015 to December 2015)

The consolidated net sales of this third quarter (April 2015 to December 2015) increased by ¥212.6 billion (9.9%) to ¥2,355.6 billion compared to the corresponding period of the previous fiscal year. The Japanese domestic net sales decreased by ¥20.3 billion (2.6%) to ¥753.5 billion year-on-year owing to the impact of the hike in the rate of the light motor vehicle tax and decrease in the OEM sales. The overseas net sales increased by ¥232.9 billion (17.0%) to ¥1,602.1 billion year-on-year mainly owing to the increase in the automobile sales in India.

In terms of the consolidated income, the operating income increased by ¥11.0 billion (8.2%) to ¥146.2 billion year-on-year mainly owing to the increase in the income in India. The ordinary income increased by ¥18.4 billion (12.7%) to ¥162.8 billion year-on-year. The net income attributable to owners of the parent increased by ¥22.4 billion (28.0%) to ¥102.3 billion year-on-year.

2. The Operating Results by Segment

In the automobile business, Alto and Alto Lapin minicars received high appraisal in Japan including the RJC Car of the Year award (the second consecutive win for the Company following the Hustler minicar in the previous year) and the 2015-2016 Car of the Year Japan Small Mobility Award. However, owing to the hike in the rate of the light motor vehicle tax and decrease in the OEM sales, the Japanese domestic net sales decreased year-on-year. The overseas net sales increased year-on-year mainly owing to the increase in India and Pakistan. Consequently, the net sales of the automobile business increased by ¥213.7 billion (11.1%) to ¥2,130.7 billion year-on-year. The operating income increased by ¥12.7 billion (9.5%) to ¥146.4 billion year-on-year mainly owing to the increase in the income in India.

In the motorcycle business, the net sales decreased by ¥7.0 billion (3.9%) to ¥172.9 billion year-on-year mainly owing to the decrease in the sales in Indonesia, despite increase in Europe and India. The operating loss of ¥5.0 billion in the corresponding period of the previous fiscal year became an operating loss of ¥10.1 billion partly owing to the quality-related expenses.

In the marine and power products, etc. business, the net sales increased by ¥5.9 billion (12.9%) to ¥52.0 billion year-on-year mainly owing to the increase in the sales of the outboard motors in the US. The operating income increased by ¥3.4 billion (53.0%) to ¥9.9 billion year-on-year.

As for the operating income by geographical areas, Japan decreased by ¥34.7 billion (36.8%) year-on-year mainly owing to the increase in research and development expenses and depreciation. However, Asia increased by ¥39.9 billion (94.3%) to ¥82.3 billion year-on-year mainly owing to the increase in the automobile sales in India and Pakistan.

3. Forecasts for the Consolidated Operating Results-Full Year

As for the forecasts for the consolidated operating results, as a result of reviewing the figures such as the sales units and the exchange rates of each country based on the results of this third quarter, the overall consolidated net sales, operating income, and ordinary income are kept unchanged from the previous forecasts. As for the net income attributable to owners of the parent, downward revision of ¥5.0 billion has been made from the previous forecast, reflecting the reversal of deferred tax assets accompanied by the reduction of the income tax rates for the next fiscal year.

The Group will work as one to reform in every field to accomplish more than the below forecasts for the consolidated operation by pursuing the business activity.

(Forecasts for the consolidated operating results-Full Year)
Net Sales¥3,100.0 billion (up 2.8% year-on-year)
Operating Income¥195.0 billion (up 8.7% year-on-year)
Ordinary Income¥205.0 billion (up 5.5% year-on-year)
Net Income¥120.0 billion (up 23.9% year-on-year, down ¥5.0 billion from the previous forecast)
(Foreign Exchange Rate)¥121/US$
¥133/Euro
¥1.86/Indian Rupee
¥0.89/100 Indonesian Rupiah
¥3.44/Thai Baht

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