FY H1 Financial Results - PDF Free Download

Contents Ⅰ. President and Representative Director : Susumu Hosoi :FY2011 H1 Financial Summary Outline :Mid-term Business Strategy Ⅱ. Director of the Board, and Senior Executive Officer, Corporate Planning & Finance Division : Toshio Sasaki 1. Market Information 2. FY2011 H1 Financial Summary 3. FY2011 Full-year Outlook Ⅲ. Q&A Session 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. 2 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

FY2011 H1 Consolidated Results - Year-on on-year Comparison - (JPY Bil.) FY11 H1 FY10 H1 Changes Net Sales 724.9 442.8 282.1 Operating Income 46.8-20.0 66.8 Ordinary Income 47.7-23.6 71.3 Net Income 29.2-27.8 57.0 * FX: FY11 H1 = 89JPY/US$ FY10 H1= 96JPY/US$ 4 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

FY2011 Full-year Outlook - Year-on on-year Comparison - ( JPY Bil. ) FY11 FY10 Changes Net Sales 1,430.0 1,080.9 349.1 Operating Income 80.0 11.0 69.0 Ordinary Income 80.0 11.4 68.6 Net Income 52.0 8.4 43.6 FX: FY11 = 84JPY/US$ FY10 = 91JPY/US$ 5 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

CV Global Shipment - Vehicle and KD-SET, etc: K-units K - 25 7 18 64 30 3 Europe 35 34 23 11 8 4 4 (8) 60 31 29 Mid-East/ Africa (59) 25 15 10 China 31 12 19 33 21 12 Asia 25 14 11 61 29 32 47 25 22 (65) (46) 9 3 6 55 21 34 Japan 9 8 6 4 3 4 : H2 Shipment FY09 FY10 FY11 1 : H1 H1 147,587 63,013 131,278 Oceania Mid-South H2 100,836 105,881 134,500 America Full-Year 248,423 168,894 266,000 6,0 0 0 (264,000) 00) ( ):Previous Forecast 8 Copyright(C) 2010 Isuzu Motors Limited All rights reserved 42 23 19 (9) 46 21 25 (45) 3Q 6 6 3 5 1 33 10 23 12 8 3 North America 16 11 5 (9) 24 11 13 (24)

LCV Global Shipment - Vehicle and KD-SET, etc: K-units K - 67 11 3 8 2 Europe 13 9 7 4 9 64 (67) (16) 165 62 155 95 203 106 (198) 18 8 10 China 28 13 14 8 6 14 (26) 25 42 43 24 18 31 33 Mid-East/ Africa 103 Asia 60 96 18 22 6 12 14 9 Oceania Shipment FY09 FY10 FY11 H1 192,081 100,376 179,172 : H2 H2 113,720 158,177 179,300 (361,000) Full-Year 305,801 258,553 358,400 : H1 ( ):Previous Forecast 9 Copyright(C) 2010 Isuzu Motors Limited All rights reserved 19 9 10 (21) 3Q 26 9 18 16 14 11 5 18 Mid-South America 32 (33)

144 41 102 122 67 55 ISPOL 154 80 74 (150) Global Production - Country Segment, Diesel Engine: K-units K - 32 16 16 64 22 19 China 168 164 101 65 41 34 31 199 102 (69) (208) 378 125 252 25 12 12 Japan 423 200 23 12 11 (409) (24) DMAX Global Production FY09 FY10 FY11 H1 329 166 285 Vehicle/KD-set H2 189 248 291 103 97 Full year 517 414 575 Indonesia (584) H1 55 15 55 64 H2 29 34 79 Industrial Engine Full year 84 49 134 (127) H1 140 83 86 GM Vehicle H2 73 111 123 Full year 214 194 208 (206) H1 524 264 425 Total H2 291 393 493 Thailand ( ): Previous Forecast Full year 815 657 918 (917) 10 Copyright(C) 2010 Isuzu Motors Limited All rights reserved 243 152 90 15 8 7 223 70 32 44 38 72 28 54 42 12 (55) 3Q : H2 : H1

140 Industrial Engine Global Shipment 133 - K-Units- 131 120 110 100 80 60 97 50 60 70 84 28 48 77 H2 H1 40 20 0 63 33 47 50 56 54 15 FY06 FY07 FY08 FY09 FY10 FY11 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 l 11 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

(Unit) Japan Industry Sales and Isuzu Share - H/D, M/D Truck:4ton or above - FY07-FY10 FY10 : : FY Actual FY11: FY11-H1 Actual (Share) 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 31.4% 32.9% 34.4% 35% 29.3% 30% 105,428 29.7% 25% 85,116 49,000 20% 62,964 41,963 15% 26,109 45,000 41,622 H2 10% 18,800 56,428 23,764 43,153 36,855 H1 5% 26,137 17,858 0% FY07 FY08 FY09 FY10 FY11 12 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

Japan Industry Sales and Isuzu Share - L/D(2-3ton) Truck - (Unit) FY07-FY10 FY10 : : FY Actual FY11: FY11-H1 Actual (Share) 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 120,830 39.0% 38.6% 39.1% 40.0% 54,047 89,831 70,059 44,213 31,177 66,783 45,618 38,882 48,859 26,700 51,000 42.3% H2 24,500 20% H1 15% 22,159 26,489 10% FY07 FY08 FY09 FY10 FY11 1,000 45% 40% 35% 30% 25% 13 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

Pick-up truck monthly sales in Thailand D-MAX (K-units) 16.0 14.0 12.0 10.0 8.0 9.6 9.4 6.7 10.1 11.2 13.7 12.3 12.1 11.8 9.9 10.9 11.9 10.7 10.6 10.9 10.1 10.2 8.3 8.2 8.0 7.8 7.9 8.2 8.2 7.8 7.1 9.6 9.8 10.2 9.4 9.5 10.8 12.3 6.0 4.0 2.0 0.0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2008 2009 2010 14 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

Thailand LCV Shipment - Thai Domestic / Export Markets - (Unit) 350,000 319,643 332,055 314,350 292,000 300,000 250,000 200,000 150,000 52,530 73,827 71,160 72,805 79,245 81,641 254,981 64,485 67,772 217,573 44,325 55,128 (298,000) 69,000 KD-SET 72,000 Export (74,000) (77,000) 100,000 50,000 193,286 188,090 153,464 122,724 118,120 151,000 Domestic (147,000) 0 FY06 FY07 FY08 FY09 FY10 FY11 ( ):Previous Forecast 15 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

FY2011 H1 Consolidated Results - Year-on on-year Comparison - (JPY Bil.) FY11 H1 FY10 H1 Changes Net Sales 724.9 442.8 282.1 Operating Income 46.8-20.0 66.8 Ordinary Income 47.7-23.6 71.3 Net Income 29.2-27.8 57.0 * FX: FY11 H1 = 89JPY/US$ FY10 H1= 96JPY/US$ 17 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

FY2010 vs. FY2011 H1 Fluctuations - Consolidated operating income: analysis of change, JPY:Bil. - 66.8-20 20.0 Operating Income for FY10 H1 8.8-1.6-1.1 61.5-0.8 Sales/Model Mix Material Cost Reduction Steel, Oil Price etc. Fluctuations Fixed Cost Fluctuation FX 46.8 Operating Income for FY11 H1 18 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

FY2011 H1 1 Consolidated Results - Ordinary income, Net income, Year-on on-year - ( JPY Bil. ) FY11 H1 FY10 H1 Changes Net Sales 724.9 442.8 282.1 Operating Income 46.8-20.0 66.8 Ordinary Income 47.7-23.6 71.3 Net Income 29.2-27.8 57.0 Income Ordinary Operating Income Change 66.8 * Equity in Earnings of Affiliates: 4.3 * Others: 0.2 Total 71.3 Extra Profit / Loss etc. Ordinary Income 47.7 7 * Loss on disposal of noncurrent assets,etc: -4.0 * Tax and minority interests: -14.5 Net Income 29.2 2 19 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

FY2011 Full-year Outlook - Year-on on-year Comparison - FY11 FY10 ( JPY Bil. ) Changes Changes from Previous Forecast (Aug 4) Net Sales 1,430.0 1,080.9 349.1-20.0 Operating Income 80.0 11.0 69.0 15.0 Ordinary Income 80.0 11.4 68.6 15.0 Net Income 52.0 8.4 43.6 12.0 FX: FY11 = 84JPY/US$ FY10 = 91JPY/US$ 21 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

FY2010 vs. FY2011 Fluctuations - Consolidated operating income: analysis of change, JPY:Bil. - 69.0 73.0-10.0 11.0 Operating Income for FY10 Material Cost Reduction 17.0 Sales/Model Mix Steel, Oil Price etc. Fluctuations -8.0 Fixed Cost Fluctuation -3.0 FX 80.0 ( ):Previous Forecast Operating Income for FY11 (13.0 13.0) (66.0 66.0) (-10 10.0) (-12.0 12.0) (-3.0) (65.0 5.0) 22 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

FY2011 Full-year Outlook - Ordinary income, Net income, Year-on on-year - ( JPY Bil. ) FY11 FY10 Changes Net Sales 1,430.0 1,080.9 349.1 Operating Income 80.0 11.0 69.0 Ordinary Income 80.0 11.4 68.6 Net Income 52.0 8.4 43.6 Ordinary Income Operating Income Change 69.0 * Equity in Earnings of Affiliates: 3.6 * FX gain and loss, Other: -4.0 Total 68.6 Extra Profit / Loss etc. Ordinary Income 80.0 * Loss on disposal of noncurrent assets,etc: -5.0 * Tax and minority interests: -23.0 Net Income 52.0 23 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

(JPY:Bil.) CAPEX and Depreciation (Consolidated) - Recent Trend and Forecast - 80.0 70.0 66.7 60.0 50.0 40.0 47.9 50.6 41.5 39.6 39.5 38.0 37.0 30.0 20.0 10.0 28.2 25.7 CAPEX D e p re c ia tio n 0.0 FY07 FY08 FY09 FY10 FY11 26 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

Interest Bearing Debt / Equity Capital (Consolidated) (JPY:Bil.) Equity Capital (DER) 400.0 300.0 200.0 100.0 342.0 341.8 360.3 375.7 DER 0.87 0.78 0.71 0.68 280.6 297.6 258.4 1.16 1.41 1.06 312.6 0.96 5 0.0-100.0-200.0-300.0-400.0 '07/3 '07/9 '08/3 '08/9 '09/3 '09/9 '10/3 '10/9 297.2 265.8 256.8 255.2 325.9 315.0 363.4 Interest Bearing Debt 300.6 0-5 27 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

(JPY:Bil.) Consolidated Net Sales by Segment - LCV, CV, PT&Compo, Others(KD,, parts) - 1000.0 900.0 800.0 700.0 600.0 500.0 400.0 300.0 200.0 100.0 0.0 874.5 222.3 129.8 369.5 152.9 917.1 859.7 204.3 213.9 724.9 156.4 118.6 565.0 638.1 155.1 177.2 375.1 381.1 147.0 442.8 94.1 99.4 64.9 136.9 CV 49.0 323.9 275.4 262.7 183.5 LCV 181.3 146.1 77.7 73.4 120.9 129.7 Others PT&Compo '07/9 '08/3 '08/9 '09/3 '09/9 '10/3 '10/9 Exc ASEAN 28 Jan-Mar Copyright(C) 2010 Isuzu Motors Limited All rights reserved

Consolidated Equity Ratio: Historical Trend (JPY:Bil.) (%) 400.0 350.0 300.0 250.0 200.0 150.0 100.0 50.0 341.8 27.7 360.3 28.9 375.7 30.3 280.6 27.3 Consolidated Equity Ratio 258.4 24.9 297.6 312.6 26.8 27.4 C o n s o lid a te d E q u ity C a p ita l 40 35 30 25 20 15 10 5 0.0 0 '07/9 '08/3 '08/9 '09/3 '09/9 '10/3 '10/9 29 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

Inventory Balance - Consolidated - (JPY:Bil.) 300.0 Month Turnover (Month) 1.8 250.0 1.5 1.5 200.0 150.0 1.1 1.0 1.3 1.3 1.0 0.9 1.2 0.9 100.0 50.0 162.7 152.1 179.1 119.8 110.0 106.4 109.3 0.6 0.3 0.0 '07/9 '08/3 '08/9 '09/3 '09/9 '10/3 '10/9 0.0 30 Copyright(C) 2010 Isuzu Motors Limited All rights reserved

(JPY:Bil.) CAPEX and Depreciation (Consolidated) - Recent Trend - 50.0 45.0 40.0 35.0 43.0 32.0 30.0 25.0 20.0 15.0 10.0 5.0 18.6 19.3 22.2 23.7 19.8 19.8 11.9 19.7 13.8 19.8 15.1 CAPEX 18.3 Depreciation 0.0 '07/9 '08/3 '08/9 '09/3 '09/9 '10/3 '10/9 31 Copyright(C) 2010 Isuzu Motors Limited All rights reserved