Supplement(Consolidated)

Supplement Material:
November 18, 2004
Corporate Communications,
Isuzu Motors Limited

Financial Summary: FY2005 First-half Consolidated Results
- April 1 2004 through September 30 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

  FY2004 H1
(Six months
to Sept. '03)
FY2005 H1
(Six month
to Sept. '04)
FY2004
(Full-year
to Mar '04)
FY2005 Forecast
(Full-year
to Mar '05)
Sales Revenue
722.9 14.3%
735.2 1.7%
1,430.3 6.0%
1.450.0 1.4%
Dom. Japan
International
316.3
406.6
47.8%
(2.8%)
296.1
439.1
(6.4%)
8.0%
627.4
803.0
32.4%
(8.3%)
600.0
850.0
(4.4%)
5.9%
Operating Profit
% to sales
35.7 -
4.9%
43.5 21.8
5.9%
84.5 446.4%
5.9%
86.0 1.8%
5.9%
Working Profit
% to sales
35.6 -
4.9%
48.3 35.6%
6.6%
81.7 -
5.7%
88.0 7.7%
6.1%
Net Income
(loss)%
24.9 -
3.4%
35.8 43.8
4.9%
54.7 -
3.8%
56.0 2.4%
3.9%
Operating profit
improvement/
deterioration
factors
/
Profit increase due to:
  Expense cut 8.9
  Rationalization 8.2
  Others 3.3
Profit decrease due to:
  Sales mix (8.6)
  Expense Incrs. (2.5)
  FX (1.5)
/
Profit increase due to:
  Rationalization 14.0
  Consolidation
  of Thai oper.
5.0
  Expense cut 4.0
Profit decrease due to:
  Expense Incrs. (17.0)
  FX (2.4)
  Sales mix (2.1)
Exchange rate ¥119/US $ ¥109/US $ ¥114/US $ ¥107/US $
Facility
Investment
12.1 (22.4%)
24.5 102.5%
34.0 4.0%
42.0 23.5%
Depreciation
15.6 (26.1%)
12.8 (17.9%)
27.3 (36.8%)
26.0 (4.8%)
R&D
23.2 (25.6%)
22.3 (3.9%)
47.5 (11.4%)
51.0 7.4%
Performance
Evaluation, etc.
Record high
operating, working
and net profit
Record high
operating, working
and net profit
Record high
operating, working
and net profit
Record high
operating, working
and net profit
Domestic
Sales
50 78.6%
43 (14.7%)
103 66.5%
91 (11.7%)
Overseas
Production
85 (23.4%)
91 7.9%
177 (17.9%)
246 38.7%