FY2016 H1 Financial Results · 2015. 11. 5. · ( JPY Bil. ) FY16 H1 FY15 H1 Changes FY16 H1plan Net Sales 971.0 882.1 88.9 950.0 Operating Income 86.2 77.0 9.2 75.0 Ordinary Income

1 Copyright(C) 2015 Isuzu Motors Limited All rights reserved

FY2016 H1 Financial Results

November 6, 2015


Ⅰ． President and Representative Director : Masanori Katayama :FY2016 H1 Financial Summary and Full-year Outlook Outline

Ⅱ． Director of the Board and Managing Executive Officer :Makoto Kawahara 1. Business Status2. FY2016 H1 Financial Summary3. FY2016 Full-year Outlook

Ⅲ． Q&A Session

Contents

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.


President and Representative Director

Masanori Katayama


【Reference】

( JPY Bil. ) FY16 H1 FY15 H1 Changes FY16 H1plan

Net Sales 971.0 882.1 88.9 950.0

Operating Income 86.2 77.0 9.2 75.0

Ordinary Income 98.6 84.7 13.9 79.0

* Net Income 53.1 49.6 3.5 42.0

FY2016 H1 Consolidated Results- Year-on-year Comparison -

* FX: FY16 H1 = 121 JPY/US$FY15 H1= 103 JPY/US$

*Net income attributable to owners of parent


FY2016 Full-year Outlook- Year-on-year Comparison -

【Reference】

FY15FY16

Previous plan

Net Sales 1,960.0 1,879.4 80.6 1,950.0


Ordinary Income 198.0 187.4 10.6 188.0

*Net Income 120.0 117.1 2.9 110.0

ChangesFY16 Forecast(JPY Bil.)

* FX: FY16 = 120 JPY/US$FY15 = 107 JPY/US$



Director of the Board, and Managing Executive Officer, Corporate Planning and Finance Division Executive

Makoto Kawahara


Ⅱ-1. Market Information


CV/LCV Global Shipment- Vehicle and KD-SET, etc: K-units

90 99 96 54 42 47 59 62 75 83 80

151 148 170194

127206 211 214 221 248 248

68 53 45 5051

42

57 64 60 4235 35

153 193 188 153123

118

155 125218

168 132 121

81 132

99

134 110

136133 171 190

73

203

126 161144

0

200

400

600

FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16

LCVThailand

ＣＶOverseas

619 643

543(453)

(520)(547)640

(567)554

(500)

427(386)

598(552)568

(509)

Forecast

690(628) 674

(594)639(564)

LCVOthers

LCVExport

668(586)

･Reinforcing overseas operating Capabilities

･Entering New Markets

Global Financial crisis

Inventory Adjustment

The Great East Japan Earthquake

Flooding in Thailand

ＣＶDomestic

（）：OverseasUnit


Japan

Asia

Europe

China

CV Global Shipment- Vehicle and KD-SET, etc: K-units

： H1

Forecast

’14/3 ’15/3 ’16/3

Forecast

： H2

58

81

57

’14/3 ’15/3 ’16/3

Forecast

’14/3 ’15/3 ’16/3

Forecast

’14/3 ’15/3 ’16/3

Forecast

’14/3 ’15/3 ’16/3

Forecast’14/3 ’15/3 ’16/3

Forecast

’14/3 ’15/3 ’16/3

Forecast

’14/3 ’15/3 ’16/3

Forecast

27

31

37

44

40

77

65

13 168

11

5 9

34

26

60

28

32

60

26

20

22

42

2418

42

21

40

459

459

6

11

34

41

75

42

41

83

38

80

911

20

1213

25

13

23

1011

21

99

18

13

26

North America

Mid-East/ Africa

Oceania Mid-South America

Shipment FY14 FY15 FY16H1 142,371 162,710 164,730H2 153,260 167,955 163,270

Full-year 295,631 330,665 328,000： H2 Forecast


17,858 26,137 23,762 31,927 33,607 39,315 42,31223,764

25,275 35,54836,608

46,32248,320

32.9% 32.8%31.1%

33.9% 33.4% 34.5% 34.0%

5%

10%

15%

20%

25%

30%

35%

0

20,000

40,000

60,000

80,000

100,000

120,000

FY10 FY11 FY12 FY13 FY14 FY15 FY16

H1

H2

（Unit）（Share）

51,412

Japan Industry Sales and Isuzu Share- H/D, M/D Truck:4ton or above -

91,000

41,622

59,310

Forecast

68,53579,929 87,635

※ FY10-FY15 : FY ActualFY16: FY16 H1 Actual


H1 Actual


（Unit）

22,159 26,489 26,82336,905 40,400 44,107 46,672

26,70027,980

38,48638,732

51,120 52,440

40.0% 40.2% 40.2% 39.5% 39.6% 40.6% 39.9%

15%

20%

25%

30%

35%

40%

0

20,000

40,000

60,000

80,000

100,000

120,000


H2

H1

（Share）

54,46948,859

Japan Industry Sales and Isuzu ShareL/D(2-3ton) Truck

Forecast

65,30975,637

96,54791,520

98,000



H1 Actual


： H1

： H2

OceaniaAsia

Europe China

LCV Global Shipment- Vehicle and KD-SET, etc: K-units -

Shipment FY14 FY15 FY16H1 186,813 167,555 180,807H2 156,170 170,198 164,993

Full-year 342,983 337,753 345,800

Forecast

’14/3 ’15/3 ’16/3

Forecast

’14/3 ’15/3 ’16/3

Forecast

’14/3 ’15/3 ’16/3

Forecast

’14/3 ’15/3 ’16/3

Forecast

’14/3 ’15/3 ’16/3

Forecast’14/3 ’15/3 ’16/3

Forecast

’14/3 ’15/3 ’16/3

Forecast

Thailand

36

31

67

37

44

81

39

78

68

14

108

18

9

15

12820

117

18

22

39

2115

36

2220

42

23

44

51015

91120

14

24

94

74

168

66

66

132

62

121

149

23

141125

12

25

Mid-East/ Africa

Mid-South America

： H2 Forecast


Thailand LCV Shipment- Thai Domestic / Export Markets -

177,922

311,200303,163

353,545(Unit）

237,481211,242

300,923


15

54 70

50 50 54 40

33

71

67

41 54 44

0

20

40

60

80

100

120

140

160


48

H2

H1

98

77

138

104

126

Forecast

91

Industrial Engine Global Shipment- K-Units-

～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

IndustrialEngine


Ⅱ-2. FY2016 H1 Financial SummaryApril 2015 – September 2015


【Reference】

( JPY Bil. ) FY16 H1 FY15 H1 Changes FY16 H1plan

Net Sales 971.0 882.1 88.9 950.0


Ordinary Income 98.6 84.7 13.9 79.0

* Net Income 53.1 49.6 3.5 42.0

FY2016 H1 Consolidated Results- Year-on-year Comparison -

* FX: FY16 H1 = 121 JPY/US$FY15 H1= 103 JPY/US$



FY2015 vs. FY2016 H1 Fluctuations- Consolidated operating income: analysis of change, JPY:Bil.

77.0

9.2

15.07.1

86.2

-5.6-18.3

9.1 1.9

Operating Income for FY15 H1 Operating Income for FY16 H1

Sales/Model M

ix

Cost R

eduction A

ctivity

FX

Fixed Cost

Fluctuation

Steel, Oil Price

etc. Fluctuations Expenses

for growth strategy


FY2016 H1 Consolidated Results- Ordinary income, Net income, Year-on-year -

( JPY Bil. ) FY16 H1 FY15 H1 ChangesNet Sales 971.0 882.1 88.9

Operating Income 86.2 77.0 9.2Ordinary Income 98.6 84.7 13.9

*Net Income 53.1 49.6 3.5




Ⅱ-3. FY2016 Full-year Outlook


FY2016 Full-year Outlook- Year-on-year Comparison -

【Reference】

FY15FY16

Previous plan

Net Sales 1,960.0 1,879.4 80.6 1,950.0


Ordinary Income 198.0 187.4 10.6 188.0

*Net Income 120.0 117.1 2.9 110.0

ChangesFY16 Forecast(JPY Bil.)

* FX: FY16 = 120 JPY/US$FY15 = 107 JPY/US$



171.1

11.9

20.0

13.0183.0

Forecast

FY2015 vs. FY2016 Fluctuations- Consolidated operating income: analysis of change, JPY:Bil.

8.0 -7.1 -26.04.0

Sales/Model M

ix

Cost R

eduction A

ctivity

FX

Steel, Oil Price

etc. Fluctuations

Fixed Cost

Fluctuation Expenses for grow

th strategy

Operating Income for FY15

Operating Income for FY16


FY2016 Full-year Outlook- Ordinary income, Net income, Year-on-year -

( JPY Bil. ) FY16 FY15 ChangesNet Sales 1,960.0 1,879.4 80.6

Operating Income 183.0 171.1 11.9Ordinary Income 198.0 187.4 10.6

*Net Income 120.0 117.1 2.9*Net income attributable to owners of parent



[Appendix]

Main Financial IndexBy 6 months, etc.


CAPEX and Depreciation (Consolidated)- Recent Trend and Forecast -

（Forecast）

（JPY:Bil.）

* FY09 or later included lease

CA

PEX

Depreciation


CAPEX and Depreciation (By 6 months Consolidated)- Recent Trend -

13.3

20.0

26.9

30.6

34.8

47.1

32.7

45.3

49.9

18.0 18.0 16.9 18.7 19.5 22.1 22.9

25.2 26.6

0.0

10.0

20.0

30.0

40.0

50.0

60.0

'11/9 '12/3 '12/9 '13/3 '13/9 '14/3 '14/9 '15/3 '15/9

* included lease

（JPY:Bil.）C

APEX

Depreciation


116.8 107.8 182.2 266.3 236.2 219.7 203.5 254.5 239.3 269.2 385.3

372.7 380.8 403.2 410.4 409.8

467.7 456.5 93.3 63.6

52.5 67.5 54.2 58.3 55.4

54.4 48.8

178.8 185.3 172.7

160.9 181.6 197.3 213.4

220.7 226.4

0.0

200.0

400.0

600.0

800.0

1,000.0

'11/9 '12/3 '12/9 '13/3 '13/9 '14/3 '14/9 '15/3 '15/9

Others

PT&Compo

CV

LCV

780.1875.5

658.1742.0

971.0997.3875.2 885.7 882.1

Consolidated Sales by 6 months- LCV, CV, PT&Compo, Others (KD, parts) -

（JPY:Bil.）


353.8 415.5 442.9 529.0 592.3 633.4 660.5 754.5 769.2

30.534.2 36.2

39.542.6 41.6 39.6

41.9 43.4

0

10

20

30

40

0.0

200.0

400.0

600.0

800.0

1,000.0

'11/9 '12/3 '12/9 '13/3 '13/9 '14/3 '14/9 '15/3 '15/9

（％）

Consolidated Equity Ratio: Historical Trend by 6 months

Consolidated Equity Ratio

（JPY:Bil.）

Consolidated

Equity Capital


138.2 154.5 157.1 175.9 191.7 182.9 216.7 233.0 231.0

1.3 1.3 1.2 1.2 1.3 1.3 1.5 1.4 1.4

0.0

0.3

0.6

0.9

1.2

1.5

1.8

0.0

50.0

100.0

150.0

200.0

250.0

300.0

'11/9 '12/3 '12/9 '13/3 '13/9 '14/3 '14/9 '15/3 '15/9

Inventory Balance- Consolidated -

（JPY:Bil.）（Month）

Month Turnover


Documents

FY2016 H1 Financial Results · 2015. 11. 5. · ( JPY Bil. ) FY16 H1 FY15 H1 Changes FY16 H1plan Net Sales 971.0 882.1 88.9 950.0 Operating Income 86.2 77.0 9.2 75.0 Ordinary Income