Supplement(Non-Consolidated)

Supplement Material:
November 20, 2003
Corporate Communications,
Isuzu Motors Limited

Financial Summary: FY2004 First-half Parent Company Results
- April 1 2003 through September 30 2003 -


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 H1
(Six months
to Sept. '02)
FY2004 H1
(Six month
to Sept. '03)
FY2003
(Full-year
to Mar '03)
FY2004 Forecast
(Full-year
to Mar '04)
Sales Revenue
363.2 (2.5%)
446.2 22.9%
760.6 (0.2%)
850.0 11.8%
Dom. Japan
International
130.9
232.3
(15.4%)
6.7%
237.3
208.9
81.3%
(10.1%)
306.5
454.1
(0.5%)
 
440.0
410.0
43.6%
(9.7%)
Operating Profit
% to sales
(16.0) -
(4.4%)
31.5 -
7.1%
13.1 61.7%
1.7%
58.0 342.7%
6.8%
Working Profit
% to sales
(20.4) -
(5.6%)
27.3 -
6.1%
4.9 133.3%
0.6%
50.0 920.4%
5.9%
Net Income
(loss)%
(114.0)  
(31.4%)
17.2  
3.9%
(189.4) ( - )
(24.9%)
32.0 ( - )
3.8%
Operating profit
improvement/
deterioration
factors
/
Profit increase
due to:
  Sales mix 27.5
  Expense cut 14.4
  Rationalization 10.9
Profit decrease
due to:
  FX (0.7)
  Expense Incrs. (4.6)
/
Profit increase
due to:
  Sales mix 30.2
  Expense cut 16.3
  Rationalization 19.0
Profit decrease
due to:
  Dcrs. special
  income
(10.7)
  FX (3.4)
  Expense Incrs. (6.5)
Exchange rate ¥ 123/US $ ¥ 119/US $ ¥ 122/US $ ¥ 112/US $
Facility
Investment
7.1 (24.3%)
6.1 (14.1%)
13.4 (22.9%)
16.0 19.4%
Breakdown
Product
Development 3.3
Manufacturing 6.0
Other 3.2
Product
Development 2.7
Manufacturing 3.0
Other 0.4
Product
Development 5.6
Manufacturing 5.3
Other 2.5
Product
Development 7.0
Manufacturing 8.0
Other 1.0
Depreciation
11.7 (8.6%)
9.5 (18.8%)
21.7 (12.1%)
19.0 (12.4%)
R&D
26.2 (6.1%)
23.9 (8.8%)
46.5 (17.8%)
46.0 (1.1%)
Performance
Evaluation, etc.
Income/profit
decreased
after two years
Record high
operating profit
and working
profit
(Took special
charges for
restructuring)
Record high
operating profit
and working
profit
Domestic
Production
116 6.4%
121 4.3%
230 5.5%
210 (8.7%)
Domestic
Sales
25 (21.9%)
53 112.0%
60 (6.3%)
95 58.3%
Export
94 16.0%
70 (25.5%)
173 6.8%
118 (31.8%)
Overseas
Production
117 6.4%
132 12.8%
240 20.6%
274 14.2%