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4 February 2022

Suzuki Announces Financial Results for FY2021 Third Quarter (April to December 2021)

- Net sales and profit increased in April-December compared to the same period of the previous year, when the business performance declined due to the COVID-19.

- Net sales and profit decreased in October-December, mainly owing to increase in raw material prices and various expenses, in addition to production decrease

- Upward revision in net sales forecast, operating profit forecast kept unchanged

1. Outline of Financial Results for FY2021 April–December period

In April-December period, net sales increased by ¥398.8 billion (18.3%) to ¥2,574.3 billion year-on-year (YoY), operating profit increased by ¥7.9 billion (5.7%) to ¥146.7 billion YoY, ordinary profit increased by ¥29.0 billion (16.6%) to ¥203.9 billion YoY, and profit attributable to owners of parent increased by ¥22.6 billion (19.9%) to ¥135.8 billion YoY.

2. Outline of Financial Results for FY2021 October-December period

(1) Outline of Financial Results

In October-December period, net sales decreased by ¥4.6 billion (0.5%) to ¥900.7 billion YoY, owing to production decrease due to parts shortage including semiconductors, despite unit price improvements and the depreciation of the Yen. Operating profit decreased by ¥16.3 billion (25.6%) to ¥47.6 billion YoY, mainly owing to increase in raw material prices and various expenses, in addition to production decrease. Ordinary profit decreased by ¥23.0 billion (29.3%) to ¥55.7 billion, and profit attributable to owners of parent decreased by ¥23.6 billion (40.2%) to ¥35.3 billion, compared to the same period of the previous year when gains on sales of investment securities of 11.9 billion Yen was recorded.

(2) Operating Results by Segment

1) Automobile business

Amid the continuing impact of production decrease, net sales decreased by ¥15.1 billion (1.8%) to ¥812.8 billion YoY, and operating profit decreased by ¥19.7 billion (34.4%) to ¥37.7 billion YoY, mainly owing to increase in raw material prices and increase of various expenses.

2) Motorcycle business

Net sales increased by ¥8.4 billion (14.9%) to ¥64.7 billion YoY, mainly owing to expanded sales of higher range models such as the new Hayabusa and the depreciation of the Yen. However, operating profit became ¥2.3 billion, with an increased amount limited to ¥0.1 billion (7.8%) YoY, mainly owing to increase in raw material prices.

3) Marine business

Net sales increased by ¥2.0 billion (10.9%) to ¥20.2 billion YoY, and operating profit increased by ¥3.0 billion (83.3%) to ¥6.6 billion YoY. They both marked record highs, owing to the continued strong sales of outboard motors in North America.

4) Operating results by geographic region

Operating profit decreased YoY in Japan, Europe and Asia.

3. Forecast of Full-Year Financial Results for FY2021

With respect to the consolidated business forecasts, the Company has revised the previous forecasts, based on the results for April-December and future prospects as follows. While revisions to unit sales, R&D expenses and foreign exchange assumptions are expected to increase sales and profits, revisions considering increase in various expenses and raw material prices are expected to decrease profits. As a result of the revision, operating profit is kept unchanged from the previous forecast of ¥170 billion.
However, the consolidated business forecasts may fluctuate due to a number of uncertain circumstances, such as supply constraints due to the shortage of semiconductors and the re-expansion of the COVID-19.

(Forecasts of full-year financial results for FY2021)

Net Sales ¥3,400.0 billion (up 0.7% YoY, up ¥200.0 billion from the previous forecast)
Operating profit ¥170.0 billion (down 12.6% YoY, unchanged from the previous forecast)
Ordinary profit ¥230.0 billion (down 7.4% YoY, up ¥10.0 billion from the previous forecast)
Profit attributable to owners of parent ¥150.0 billion (up 2.4% YoY, unchanged from the previous forecast)
(Foreign Exchange Rate) ¥112/US$, ¥130/Euro, ¥1.51/Indian Rupee
  • *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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