Press Release

Announcement on the Changes in Isuzu Consolidated and
Non-consolidated Financial Performance Forecasts
For Fiscal Year Ending March 2009

November 5, 2008


Company name
Stock exchange listing
Representative
URL
Contact person
 : 
 : 
 : 
 : 
 : 
Isuzu Motors Limited
Code No. 7202, The 1st Section, Tokyo Stock Exchange in Japan
Susumu Hosoi, 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


  Further to the previous announcements made at the account closing on May 12, 2008, Isuzu Motors Limited wishes to announce following adjustments and changes in the forecasts for consolidated and non-consolidated financial performance for fiscal year ending March 2009:


1.
Adjustments and changes made in the consolidated performance forecasts (for the period starting from April 1, 2008 and ended March 31, 2009).
(Unit: Millions of Yen, or %)
Consolidated Net Sales Operating
Income
Ordinary
Income
Net Income Net Income
per Share
(A) Previous forecast
as of May 12, 2008
1,850,000 105,000 115,000 85,000 Yen
50.14
(B) Adjusted/changed
as of Nov. 5, 2008
1,650,000 60,000 60,000 40,000 Yen
23.60
 Changes (B - A) (200,000) (45,000) (55,000) (45,000) -
 Changes in % (10.8%) (42.9%) (47.8%) (52.9%) -
 Previous year's actual
 (April 2007- March 2008)
1,924,833 109,573 122,322 76,021 Yen
44.60


2.
Adjustments and changes made in the non-consolidated performance forecasts (for the period starting from April 1, 2008 and ended March 31, 2009).
(Unit: Millions of Yen, or %)
Non-consolidated Net Sales Operating
Income
Ordinary
Income
Net Income Net Income
per Share
(A) Previous forecast
as of May 12, 2008
1,120,000 50,000 54,000 52,000 Yen
30.67
(B) Adjusted/changed
as of Nov. 5, 2008
980,000 19,000 20,000 21,000 Yen
12.39
 Changes (B - A) (140,000) (31,000) (34,000) (31,000) -
 Changes in % (12.5%) (62.0%) (63.0%) (59.6%) -
 Previous year's actual
 (April 2007- March 2008)
1,027,349 48,190 50,168 43,504 Yen
25.52


3.
Reasons for changes:
The Company's financial business performance (both consolidated and non-consolidated) for FY 2009 (April 1, 2008 thru March 31, 2009) is estimated to fall below the financial projection in terms of net sales, operating income, ordinary income and net income, which was publicized on May 12, 2008 when the financial results for FY 2008 was announced. The change in the projection is in large part due to a decline in demand for domestic trucks, a rise in the prices of raw materials, a transition into yen appreciation, etc. in spite of a reduction in selling and general administrative expenses and cost reduction effect.


(Note) The above financial projection is calculated based on information available presently by the Company and specific prerequisites judged reasonable. There are possibilities that the actual financial results would vary largely depending upon various factors.