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Suzuki Announces Financial Results for FY2022 First Quarter (April to June 2022)

- Net sales and operating profit increased year-on-year, mainly owing to improvement in sales mix/price, increase in volume mainly in India, and the impact of the exchange rates.

1. Outline of Financial Results for FY2022 First Quarter

Net sales increased by ¥218.0 billion (25.8%) year-on-year (YoY) to ¥1063.4 billion, marking a record high throughout all quarters. Domestic net sales decreased YoY, due to the impact of the production decrease. However, overseas net sales increased by ¥224.5 billion (39.2%) YoY to ¥797.0 billion, mainly owing to improvement in sales mix/price including price increase, increase in volume mainly in India, and the impact of the exchange rates.
Operating profit increased by ¥20.0 billion (36.8%) YoY to ¥74.5 billion, mainly owing to increase in sales which offset the impact of higher raw material prices.
Ordinary profit decreased by ¥21.0 billion (19.0%) YoY to ¥89.8 billion, mainly owing to decrease in financial revenue. Profit attributable to owners of parent decreased by ¥26.5 billion (31.2%) to ¥58.3 billion compared to the same period of the previous fiscal year when gain on sale of former Toyokawa plant site was recorded.

2. Operating Results by Segment

(1) Automobile business

Net sales increased by ¥181.3 billion (23.9%) YoY to ¥940.1 billion, mainly owing to improvement in sales mix/price, increase in volume mainly in India, and the impact of the exchange rates. Operating profit increased by ¥14.4 billion (34.2%) YoY to ¥56.4 billion, mainly owing to increase in sales which offset the impact of higher raw material prices.

(2) Motorcycle business

Net sales increased by ¥28.8 billion (50.1%) YoY to ¥86.3 billion, and operating profit increased by ¥3.9 billion (87.3%) YoY to ¥8.3 billion, mainly owing to increase in wholesale units in India and North America and the impact of the exchange rates.

(3) Marine business

Net sales increased by ¥8.3 billion (31.9%) YoY to ¥34.3 billion and operating profit increased by ¥2.4 billion (36.6%) YoY to ¥9.2 billion, mainly owing to steady sales of outboard motors in North America and the impact of the exchange rates. Both net sales and operating profit marked record highs throughout all quarters.

(4) Operating results by geographic region

In Japan, both net sales and operating profit increased, mainly owing to the impact of the exchange rates and increase in exports. In Asia, both net sales and operating profit increased, mainly owing to improvement in sales mix/price including price increase, and increase in volume in India. In Other regions, both net sales and operating profit increased, mainly owing to increase in volume in Africa. In Europe, net sales and operating profit decreased, due to decrease in volume caused by shortage of product supply.

3. Forecast of Full-Year Financial Results for FY2022

With the risk of the global recession increasing, the Company has determined that it is too early to make a reasonable estimate of the full-year forecast at this time and has not changed the forecast from the previous forecast.
We will make reconsideration when we announce our second quarter financial results after assessing the future business environment including market trends.

(No change from previous forecast)

• *Forecasts for the consolidated operating results 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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