In this fiscal year, the Japanese domestic market sales was able to accomplish its highest ever net sales at ¥986.8 billion (up 5.3% year-on-year) by recovering in the second half from the sales drop of the first half due to the impact of the Great East Japan Earthquake.
As for the overseas, the net sales decreased by ¥145.4 billion (8.7%) to ¥1,525.4 billion year-on-year due to the sales drop of the automobiles in India, in addition to the impact of the yen appreciation. As a result, the consolidated net sales of the FY2011 (April 2011 to March 2012) decreased by ¥96.0 billion (3.7%) to ¥2,512.2 billion year-on-year.
In terms of the consolidated income, the operating income increased by ¥12.4 billion (11.6%) to ¥119.3 billion year-on-year by absorbing the factors of income decrease such as decreased sales and impact of the exchange rate, to the factors of income increase such as cost reduction, decrease of expenses, and decrease of depreciation. Ordinary income increased by ¥8.1 billion (6.6%) to ¥130.6 billion year-on-year. Net income increased by ¥8.7 billion (19.3%) to ¥53.9 billion year-on-year by absorbing the increase of tax expense due to the reversal of deferred tax assets involved with the lowering of tax rate such as the income tax.
Operating income, ordinary income, and net income all increased for the third consecutive fiscal year. Especially, the ordinary income rate became the highest ever at 5.2% since the start of announcement of consolidated financial results.
Taking into account that the consolidated operating results improved from the previous forecasts, the year-end dividends is scheduled to be up by ¥1.00 per share from the previous forecasts to ¥8.00 per share (previous year-end dividends was ¥7.00 per share). As a result, the annual dividends will be ¥15.00 per share, up by ¥2.00 per share from the previous fiscal year.
In the motorcycle business, although wholesales in North America increased, mainly due to the decrease of sales in Europe, sales decreased by ¥2.9 billion (1.1%) to ¥254.8 billion year-on-year. As for the operating income, although it improved by ¥8.4 billion year-on-year, there was operating loss of ¥2.4 billion due to the impact of the yen appreciation and the floods in Thailand.
In the automobile business, the Japanese domestic market sales increased year-on-year as a result of recovering from the first half drop due to the impact of the Great East Japan Earthquake, by strengthening the lineup and working to expand the sales such as by launching the Alto Eco and the MR Wagon Eco, in addition to the great sales of the Solio.
As for the overseas, sales decreased year-on-year due to the impact of the yen appreciation, decrease of exports especially to Europe, and sales decrease in India. Consequently, sales of the automobile business decreased by ¥93.0 billion (4.0%) to ¥2,209.0 billion year-on-year. However, the operating income increased by ¥3.5 billion (3.2%) to ¥114.5 billion year-on-year, mainly due to cost reduction, decrease of expenses, and decrease of depreciation.
Sales of the marine and power products, etc. business was nearly at the same level as the previous fiscal year at ¥48.4 billion, but the operating income increased by ¥0.5 billion (7.0%) to ¥7.2 billion year-on-year.
As for the operating results by geographical areas, Asia decreased income, but Japan largely increased income, and North America returned to profitability from its operating loss of ¥2.2 billion of the previous fiscal year to operating income of ¥0.4 billion in this fiscal year.
In the midst of the continuous yen appreciation, the next fiscal year will expect increase of depreciation and research and development expenses due to increased investments in growing markets such as India and ASEAN, but the Group will work as one to reform in every field to accomplish more than the below forecasts for the consolidated operation by developing the business activity.
|Net Sales||¥2,600.0 billion (up 3.5% year-on-year)|
|Operating Income||¥120.0 billion (up 0.6% year-on-year)|
|Ordinary Income||¥135.0 billion (up 3.4% year-on-year)|
|Net Income||¥70.0 billion (up 29.9% year-on-year)|
|(Foreign Exchange Rate)||¥75/US$
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