Net sales and income of this third quarter (April 2019 to December 2019) decreased mainly owing to late recovery in the Indian automobile market and the impact of foreign exchange.
Consolidated net sales decreased by ¥212.7 billion (7.5%) to ¥2,626.1 billion compared to the corresponding period of the previous fiscal year. In terms of income, operating income decreased by ¥86.1 billion (33.6%) to ¥170.4 billion, ordinary income decreased by ¥111.3 billion (36.4%) to ¥194.8 billion, and net income attributable to owners of the parent decreased by ¥64.2 billion (35.5%) to ¥116.6 billion year-on-year.
Net sales decreased by ¥219.5 billion (8.5%) to ¥2,377.1 billion year-on-year owing to decrease in sales in India and Pakistan, and the impact of appreciation of Yen. Operating income decreased by ¥87.5 billion (35.9%) to ¥156.6 billion year-on-year owing to appreciation of Yen and increase in various expenses, in addition to decrease in sales.
Net sales and operating income were both flat on the year with ¥182.2 billion and ¥27 million respectively. While sales in India increased, there were decrease in sales in Indonesia and Thailand and the impact of appreciation of Yen.
Net sales increased by ¥6.8 billion (11.3%) to ¥66.8 billion and operating income increased by ¥1.5 billion (12.9%) to ¥13.8 billion year-on-year mainly owing to sales contribution of large outboard motor DF350A in North America.
Japan and Asia saw decrease in net sales and income. With respect to operating income, Japan decreased by ¥20.7 billion (18.3%) to ¥91.9 billion, and Asia decreased by ¥67.5 billion (55.5%) to ¥54.1 billion year-on-year.
The consolidated business forecasts are kept unchanged from the previous forecasts.
The Group will set the below consolidated business forecasts as the minimum target that we shall achieve and work as one to reform in every field and pursue the business activity to accomplish more than the below forecasts for the consolidated operating results.
|Net Sales||¥3,500.0 billion||(down 9.6% year-on-year)|
|Operating Income||¥200.0 billion||(down 38.3% year-on-year)|
|Ordinary Income||¥220.0 billion||(down 42.0% year-on-year)|
|Net Income attributable
to owners of the parent
|¥140.0 billion||(down 21.7% year-on-year)|
|(Foreign Exchange Rate)||¥107/US$
¥0.76/100 Indonesian Rupiah
*Forecasts for the consolidated operating results are based on currently available information and assumptions, contain risks and uncertainty and do not constitute guarantees of future achievement. Please note that the actual results may greatly vary by the changes of various factors. Those factors, which may influence the future results, include economic conditions and the trend of demand in major markets and the fluctuations of foreign exchange rates (mainly U.S. dollar/Yen rate, Euro/Yen rate, Indian Rupee/Yen rate).
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