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TRANSLATION
FY2007 First Quarter Consolidated Financial Results:
For the Three Months Ended June 30, 2006
July 27, 2006
Company name
Stock exchange listing
Headquarters
Representative
URL
Contact person |
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Isuzu Motors Limited
Code No. 7202, The 1st Section, Tokyo Stock Exchange in Japan
In Tokyo, Japan
Yoshinori Ida, President and Representative Director
http://www.isuzu.co.jp/world/investor/index.html
Hirotoshi Kouyama, General Manager, General Affairs,
Corporate Administration Division, Isuzu Motors Limited, Tel: 81-3- 5471-1141 |
1. |
Basis for preparation of quarterly financial results: |
1) |
Adoption of simplified accounting practices |
: Applicable |
| The standards for preparing the mid-term (consolidated) financial statements are generally applied, while using certain simplified procedures are used for calculating tax expenses, reporting depreciation expenses, and omitting physical stocktaking. |
2) |
Changes in accounting practices from previous fiscal year |
: Applicable |
The exchange conversion standards with regard to revenues and expenses of our overseas subsidiaries, etc., traditionally provided that the conversion of foreign currency into yen currency shall be calculated at the spot rate of exchange on the book closing date of the overseas subsidiaries. However, in the current consolidated fiscal year, the applicable conversion standards have been changed to use the in-period average rate of exchange for conversion into yen currency.
As a result of the change, as compared to the traditional method, sales amount is down 1,581 million yen, operating profit down 86 million yen, working profit down 99 million yen, and net income before taxes and other adjustments down 99 million yen on a consolidated basis. |
3) |
Changes in scope of consolidation and equity method of accounting |
: Applicable |
| Number of subsidiaries excluded from consolidated accounting |
: 1 company |
2. |
FY2007 first quarter financial results (April 1, 2006 through June 30, 2006) |
1) |
Consolidated operating results |
(Unit: Millions of Yen, fraction less than million omitted) (Y-o-Y changes in %)
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Net Sales |
Operating profit |
Working profit |
Net income |
FY2007 Q1
(3 months to Jun. 30, '06) |
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FY2006 Q1
(3 months to Jun. 30, '05) |
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| (Ref.) Full year FY2006 |
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Net income per share |
Fully diluted net
income per share |
FY2007 Q1
(3 months to Jun. 30, '06) |
15.60 |
10.34 |
FY2006 Q1
(3 months to Jun. 30, '05) |
11.05 |
6.60 |
| (Ref.) Full year FY2006 |
48.75 |
31.67 |
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(in Yen) |
| (Note) |
The percentage points for net sales and operating profit etc. represent year-on-year changes.
Average number of shares issued and outstanding in each period (consolidated): |
| Common stock: |
FY2007 Q1: 1,140,011,615 shares FY2006 Q1: 1,167,757,104 shares
Full year FY 2006: 1,130,109,701 shares |
(Reference) Parent company operating results
(Unit: Millions of Yen, fraction less than million omitted) (Y-o-Y changes in %)
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Net Sales |
Operating profit |
Working profit |
Net income |
FY2007 Q1
(3 months to Jun. 30, '06) |
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FY2006 Q1
(3 months to Jun. 30, '05) |
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| (Ref.) Full year FY2006 |
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Net income per share |
Fully diluted net
income per share |
FY2007 Q1
(3 months to Jun. 30, '06) |
15.50 |
10.23 |
FY2006 Q1
(3 months to Jun. 30, '05) |
18.02 |
10.76 |
| (Ref.) Full year FY2006 |
38.31 |
24.96 |
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(in Yen) |
| (Note) |
The percentage points for net sales and operating profit represent year-on-year changes.
Average number of shares issued and outstanding in each period : |
| Common stock: |
FY2007 Q1: 1,140,296,768 shares FY2006 Q1: 1,168,083,252 shares
Full year FY 2006: 1,130,497,966 shares |
[ Qualitative information regarding (consolidated) operating results ]
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In the first quarter to June 2006, the domestic sales increased 4,611 units (up 25.4%) in volume and Y28.5 billion (up 20.7%)
in value compared with the same quarter in the previous year due to continued robust demand driven by tougher emissions regulation and the successful impact of sales boosting measures undertaken in accordance with Mid-Term Business Plan.
In overseas markets, sales expansion of pickup trucks produced in Thailand and increased export of light-duty trucks arising from aggressive sales expansion efforts through reorganized sales organizations overseas lifted sales volume by 7,384 units (up 9.2%) and revenue by Y12.1 billion (up 5.6%) from the same quarter in the previous year.
As a result, for the first quarter to June 2006, Isuzu posted sales revenue of Y395.9 billion (up 11.4% year on year), operating profit of Y23.9 billion (up 40.7%), working profit of Y25.2 billion (up 41.1%) and the net income of Y18.5 billion (up 43.7%).
Both revenue and profit marked the increase. |
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2) |
Changes of the consolidated financial position |
(Unit: Millions of Yen, fraction less than million omitted) (Y-o-Y changes in %)
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Total assets
(in million yen) |
Shareholders' equity
(in million yen) |
Shareholders' equity
as a percentage of
total assets (%) |
Shareholders' equity
per share
(in yen) |
FY2007 Q1
(3 months to Jun. 30, '06) |
1,176,549 |
288,548 |
22.0% |
165.76 |
FY2006 Q1
(3 months to Jun. 30, '05) |
1,102,502 |
185,418 |
16.8% |
101.23 |
| (Ref.) Full year FY2006 |
1,168,697 |
244,350 |
20.9% |
152.05 |
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| (Note) |
Number of shares issued and outstanding at the end of each period: |
| Common stock: |
FY2007 Q1: 1,140,003,082 shares FY2006 Q1: 1,140,151,576 shares
Full year FY 2006: 1,140,030,826 shares |
(Reference) Changes of the parent company's financial position
(Unit: Millions of Yen, fraction less than million omitted) (Y-o-Y changes in %)
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Total assets
(in million yen) |
Shareholders' equity
(in million yen) |
Shareholders' equity
as a percentage of
total assets (%) |
Shareholders' equity
per share
(in yen) |
FY2007 Q1
(3 months to Jun. 30, '06) |
868,851 |
242,896 |
28.0% |
151.63 |
FY2006 Q1
(3 months to Jun. 30, '05) |
775,509 |
203,475 |
26.2% |
117.03 |
| (Ref.) Full year FY2006 |
867,698 |
231,289 |
26.7% |
140.56 |
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| (Note) |
Number of shares issued and outstanding at the end of each period: |
| Common stock: |
FY2007 Q1: 1,140,288,235 shares FY2006 Q1: 1,140,477,724 shares
Full year FY 2006: 1,140,306,872 shares |
[ Qualitative information regarding (consolidated) financial position ]
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Net assets at the end of the first quarter to June 2006 increased Y44.1 billion to Y288.5 billion from the end of the previous term. This is due to new addition of minority interest of Y29.7 billion to net assets owing to change of total shareholders' equity
to net assets effective from this consolidated fiscal term, in addition to the net income of Y18.5 billion and dividend payment of
Y4.4 billion. Meanwhile, the interest-bearing debt declined Y8.4 billion to Y341.2 billion from the end of previous consolidated
fiscal term. |
3. |
Forecast of consolidated financial results for full-year FY2007 (April 1, 2006 to March 31, 2007) |
The company's forecast of the full-year financial results remains the same as the Forecast for Consolidated Results of FY 2007 announced on May 16, 2006. |
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