ISUZU:Financial Information

Financial Information


	Supplement (Non-Consolidated)

Supplement Material:

May 20, 2004
Corporate Communications,
Isuzu Motors Limited

Financial Summary: FY2004 Non-Consolidated Results
- April 1 2003 through March 31 2004 -

Unit: JPY in billion, Fraction less than half omitted
Volume in thousand units.
Changes from last year expressed in percent in bracket.
Negative numbers shown with the bracket

FY2003
(April '02 to Mar '03)

FY2004

(April '03 to March '04)

FY2005 Forecast
(April '04 to March '05)

Sales Revenue

760.6

(0.2%)

890.3

17.1%

770.0

(13.5%)

Japan
International

306.5
454.1

(0.5%)
-

465.9
424.4

52.0%
(6.5%)

360.0
410.0

(22.7%)
(3.4%)

Operating Profit
% to sales

13.1
1.7%

62.4%

67.0
7.5%

410.3%

50.0
6.5%

(25.4%)

Working Profit
% to sales

4.9
0.6%

133.3%

57.6
6.5%

1079.4%

45.0
5.8%

(21.8%)

Net Income (loss)
Net margin %

(189.4)
(24.9%)

38.9
4.4%

40.0
5.2%

2.9%

Operating profit
improvement/
deterioration
factors

Profit increase due to:
Sales vol/mix	40.9
Rationalization	20.8
Expense	14.6

Profit decrease due to:
GM alliance-related	(10.7)
Expense	(9.0)
FX	(2.7)

Profit increase due to:
Expense	15.4
Rationalization	7.4


Profit decrease due to:
Sales vol/mix	(29.9)
Expense	(6.8)
FX	(3.1)

Exchange rate

¥ 122US $

¥ 114/US $

¥ 105/US $

Facility
Investment

13.4

22.9%

23.0

71.6%

32.0

39.1%

Breakdown

Product
Development	5.6
Manufacturing	5.3
Other	2.5

Product
Development	5.3
Manufacturing	16.3
Other	1.4

Product
Development	7.0
Manufacturing	23.0
Other	2.0

Depreciation

21.7

(12.1%)

17.3

(20.3%)

16.0

(7.5%)

R&D

46.5

(17.8%)

46.5

50.0

7.5%

Performance
Evaluation, etc.

Took special charges
for restructuring

Record operating profit,
working profit
and net income

Increase earnings/
net income

Production:
Japan

230

5.5%

231

0.5%

183

(20.6%)

Sales: Japan

101

69.8%

(22.8%)

Export from Japan

173

132

(23.9%)

105

(20.6%)

Sales: International

240

20.6%

279

16.3%

309

10.8%