FY2018 H1 Financial Results - PDF Free Download

Contents Ⅰ. President and Representative Director : Masanori Katayama :FY2018 H1 Financial Summary and Full-year Outlook Outline Ⅱ. Senior Executive Officer : Kouichi Seto 1. Business Status 2. FY2018 H1 Financial Summary 3. FY2018 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) 2017 Isuzu Motors Limited All rights reserved

FY2018 H1 Consolidated Results - Year-on-year Comparison - Reference ( JPY Bil. ) FY18 H1 FY17 H1 Changes FY18 H1 Plan Net Sales 984.7 908.1 76.6 940.0 Operating Income 74.1 68.4 5.7 61.0 Ordinary Income 82.8 72.3 10.5 64.0 * Net Income 52.7 38.8 13.9 42.0 *Net income attributable to owners of parent * FX: FY18 H1 = 112 JPY/US$ FY17 H1= 110 JPY/US$ 4 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

FY2018 Full-year Outlook - Year-on-year Comparison - Reference (JPY Bil.) FY18 FY17 (exc North America and Oceania Jan-Mar) Changes FY18 Previous plan FY17 Net Sales 2,060.0 1,904.8 155.2 1,990.0 1,953.2 Operating Income 164.0 143.4 20.6 152.0 146.4 Ordinary Income 175.0 149.6 25.4 157.0 152.0 Net Income 109.0 92.5 16.5 99.0 93.9 *Net income attributable to owners of parent * FX: FY18 = 111 JPY/US$ FY17 = 109 JPY/US$ 5 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

600 400 Reinforcing overseas operating Capabilities Entering New Markets 643 (547) 640 (567) 144 188 153 45 161 50 554 (500) 132 123 51 CV/LCV Global Shipment - Vehicle and KD-SET, etc: K-units Global Financial crisis Inventory Adjustment 427 (386) 99 118 The Great East Japan Earthquake Flooding in Thailand 598 (552) 568 (509) 134 110 690 (628) 668 668 639 (586)(587) (564) 616 617 136 (531)(536) 133 171 183 151 159 218 168 132 130 155 125 137 153 35 36 64 60 42 23 15 57 ( ):Overseas Unit LCV Export LCV Thailand LCV Others 200 170 42 203 194 206 211 214 221 248 238 221 209 CV Overseas 0 127 96 73 54 47 59 62 75 83 81 85 81 42 CV Domestic FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 8 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

CV Global Shipment - Vehicle and KD-SET, etc: K-units 16 6 9 69 29 40 Europe Mid-East/ Africa 11 15 6 5 9 China 54 54 61 66 40 23 28 30 26 31 32 31 18 40 19 21 38 21 16 Asia (Unit) 34 15 12 6 81 43 38 11 5 6 Japan Shipment FY16 FY17 FY18 : H1 H1 164,730 152,346 1 42,84 3 Oceania : H2 Mid-South H2 154,603 153,941 1 46,75 7 America : H2 Full-year 319,333 306,287 2 89,60 0 9 Copyright(C) 2017 Isuzu Motors Limited All rights reserved 85 44 41 12 6 81 43 25 12 13 North America 24 11 13 27 14 13 19 10 9 24 12 18 8

Japan Industry Sales and Isuzu Share - H/D, M/D Truck:4ton or above - FY12-FY17 : FY Actual FY18: FY18 H1 Actual (Unit) 120,000 100,000 80,000 60,000 40,000 20,000 0 33.9% 33.4% 31.1% 59,310 35,548 23,762 79,929 68,535 46,322 36,608 34.5% 33.4% 87,635 88,263 36.2% 52,325 48,320 45,951 H1 Actual 36.1% 98,106 91,000 31,927 33,607 39,315 42,312 45,781 45,529 FY12 FY13 FY14 FY15 FY16 FY17 FY18 H2 H1 (Share) 35% 30% 25% 20% 15% 10% 5% 10 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

Japan Industry Sales and Isuzu Share L/D(2-3ton) Truck FY12-FY17 : FY Actual FY18: FY18 H1 Actual (Unit) 120,000 100,000 80,000 60,000 40,000 20,000 0 40.2% 65,309 38,486 26,823 39.5% 39.6% 40.6% 75,637 38,732 91,520 39.2% 51,120 52,440 51,489 54,954 H1 Actual 41.1% 40.0% 96,547 98,161 103,660 100,000 36,905 40,400 44,107 46,672 48,706 48,874 FY12 Fy13 FY14 FY15 FY16 FY17 FY18 11 Copyright(C) 2017 Isuzu Motors Limited All rights reserved H2 H1 (Share) 40% 35% 30% 25% 20% 15%

LCV Global Shipment - Vehicle and KD-SET, etc: K-units - 18 10 8 17 8 9 Europe 19 9 29 7 22 18 7 11 20 12 130 68 137 75 153 79 China 62 62 73 40 39 50 28 22 Mid-East/ Africa 40 14 47 24 23 Asia 45 27 18 42 17 Thailand 27 13 14 Oceania (Unit) Shipment FY16 FY17 FY1 8 : H1 H1 180,807 142,535 151,428 : H2 H2 167,998 167,528 176,172 Full-year 348,805 310,063 3 2 7,6 0 0 : H2 12 Copyright(C) 2017 Isuzu Motors Limited All rights reserved 27 12 15 31 16 18 11 7 16 7 9 22 11 Mid-South America

Industrial Engine Global Shipment - K-Units- 160 140 120 100 80 60 40 20 0 138 67 104 98 91 54 44 41 106 81 70 H2 30 49 70 H1 50 50 54 51 40 32 FY12 FY13 FY14 FY15 FY16 FY17 FY18 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 14 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

FY2018 H1 Consolidated Results - Year-on-year Comparison - Reference ( JPY Bil. ) FY18 H1 FY17 H1 Changes FY18 H1 Plan Net Sales 984.7 908.1 76.6 940.0 Operating Income 74.1 68.4 5.7 61.0 Ordinary Income 82.8 72.3 10.5 64.0 * Net Income 52.7 38.8 13.9 42.0 *Net income attributable to owners of parent * FX: FY18 H1 = 112 JPY/US$ FY17 H1= 110 JPY/US$ 16 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

FY2017 H1 vs. FY2018 H1 Fluctuations - Consolidated operating income: analysis of change, JPY:Bil. 5.7-7.4 0.7 3.3-3.6 7.9 74.1 4.8 Expenses for growth strategy Steel, Oil Price etc. Fluctuations Fixed Cost Fluctuation FX 68.4 Cost Reduction Activity Sales/Model Mix Operating Income for FY18 H1 Operating Income for FY17 H1 17 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

FY2018 H1 Consolidated Results - Ordinary income, Net income, Year-on-year - ( JPY Bil. ) FY18 H1 FY17 H1 Changes Net Sales 984.7 908.1 76.6 Operating Income 74.1 68.4 5.7 Ordinary Income 82.8 72.3 10.5 Net Income 52.7 38.8 13.9 *Net income attributable to owners of parent *Net income attributable to owners of parent 18 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

FY2018 Full-year Outlook - Year-on-year Comparison - Reference (JPY Bil.) FY18 FY17 (exc North America and Oceania Jan-Mar) Changes FY18 Previous plan FY17 Net Sales 2,060.0 1,904.8 155.2 1,990.0 1,953.2 Operating Income 164.0 143.4 20.6 152.0 146.4 Ordinary Income 175.0 149.6 25.4 157.0 152.0 Net Income 109.0 92.5 16.5 99.0 93.9 *Net income attributable to owners of parent * FX: FY18 = 111 JPY/US$ FY17 = 109 JPY/US$ 20 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

FY2017 vs. FY2018 Fluctuations - Consolidated operating income: analysis of change, JPY:Bil. 17.6 8.0 2.6-14.0 164.0-10.0 17.0 FX 17.0 Expenses for growth strategy Steel, Oil Price etc. Fluctuations Fixed Cost Fluctuation -3.0 143.4 146.4 Cost Reduction Activity Sales/Model Mix Change of Financial term in North America and Oceania 20.6 Operating Income for FY18 Operating Income for FY17 (exc North America and Oceania Jan-Mar) Operating Income for FY17 21 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

FY2017 Full-year Outlook - Ordinary income, Net income, Year-on-year - ( JPY Bil ) FY18 FY17 (exc North America and Oceania Jan-Mar) Changes Reference FY17 Net Sales 2,060.0 1,904.8 155.2 1,953.2 Operating Income 164.0 143.4 20.6 146.4 Ordinary Income 175.0 149.6 25.4 152.0 Net Income 109.0 92.5 16.5 93.9 *Net income attributable to owners of parent *Net income attributable to owners of parent 22 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

CAPEX and Depreciation (By 6 months Consolidated) - Recent Trend - (JPY Bil.) 60.0 50.0 40.0 30.0 20.0 10.0 0.0 47.1 49.9 48.1 45.3 34.8 32.7 22.1 22.9 25.2 26.6 19.5 52.9 40.9 29.2 28.7 30.1 28.3 30.1 Depreciation CAPEX '13/9 '14/3 '14/9 '15/3 '15/9 '16/3 '16/9 '17/3 '17/9 * included lease 25 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

Consolidated Sales by 6 months - LCV, CV, PT&Compo, Others (KD, parts) - (JPY Bil.) 1,000.0 500.0 0.0 875.2 885.7 882.1 18.2 19.7 21.3 54.2 58.3 55.4 997.3 971.0 22.1 22.6 22.6 54.4 20.4 48.8 44.3 46.1 46.8 40.3 41.0 41.0 45.7 44.9 46.0 52.6 46.0 23.6 22.0 20.4 25.5 23.9 23.7 19.8 22.4 22.9 26 Copyright(C) 2017 Isuzu Motors Limited All rights reserved 956.0 908.1 1,045.1 984.7 23.7 57.2 Others 23.4 61.0 PT&Compo '13/9 '14/3 '14/9 '15/3 '15/9 '16/3 '16/9 '17/3 '17/9 CV LCV Incl. North America and Oceania Jan-Mar

Consolidated Equity Ratio: Historical Trend by 6 months (JPY Bil.) (%) Consolidated Equity Ratio 1,000.0 800.0 600.0 400.0 200.0 592.3 42.6 41.6 633.4 39.6 660.5 41.9 754.5 769.2 43.4 41.5 42.1 751.4 728.3 818.4 43.5 868.1 44.4 Consolidated Equity Capital 40 30 20 10 0.0 '13/9 '14/3 '14/9 '15/3 '15/9 '16/3 '16/9 '17/3 '17/9 0 27 Copyright(C) 2017 Isuzu Motors Limited All rights reserved

Inventory Balance by 6 months - Consolidated - (JPY Bil.) 300 250 200 150 100 50 0 Month Turnover 1.5 1.4 1.4 1.3 1.3 1.6 1.7 1.8 1.5 191.7 216.7 233.0 231.0 249.1 259.6 284.6 256.0 182.9 '13/9 '14/3 '14/9 '15/3 '15/9 '16/3 '16/9 '17/3 '17/9 (Month) 28 Copyright(C) 2017 Isuzu Motors Limited All rights reserved 1.8 1.5 1.2 0.9 0.6 0.3 0.0