15 May 2023
Suzuki Announces Financial Results for FY2022
- In FY2022, net sales and profits increased, mainly owing to the impact of the exchange rates and increase in volume.
- In FY2023, forecast is for higher sales and lower profits. In addition to the strong yen and increase in raw material prices, the company expects to increase growth investments.
- Annual dividends for FY2022 are record 100 yen per share. In addition, the company announced the repurchase of its own shares.
1. Financial Results for FY2022
(1) Consolidated Financial Results
Net sales and profits increased, mainly owing to the impact of the exchange rates and increase in volume. Net sales increased by ¥1073.3 billion (30.1%) year-on-year (YoY) to ¥4,641.6 billion. Operating profit increased by ¥159.1 billion (83.1%) to ¥350.6 billion YoY. Of the increase in profit, the impact of the exchange rates contributed ¥100.6 billion to profit. Ordinary profit increased by ¥119.9 billion (45.6%) to ¥382.8 billion. Profit attributable to owners of parent increased by ¥60.8 billion (37.9%) to ¥221.1 billion.
(2) Operating Results by Segment
1) Automobile business
Net sales increased by ¥957.3 billion (29.9%) to ¥4,162.2 billion. Operating profit increased by ¥126.3 billion (82.6%) to ¥279.1 billion. This was mainly owing to improvement in sales mix/price due to price hikes in overseas, increase in volume in Japan and overseas, and the impact of the exchange rates.
2) Motorcycle business
Net sales increased by ¥79.7 billion (31.4%) to ¥333.2 billion. Operating profit increased by ¥18.5 billion (170.2%) to ¥29.3 billion and the operating margin was a record 8.8%.
3) Marine business
Net sales increased by ¥36.6 billion (37.3%) to ¥134.6 billion and operating profit increased by ¥15.4 billion (64.2%) to ¥39.4 billion, marking record highs for both net sales and profit. This was mainly owing to steady sales of large outboard motors in North America and the impact of the exchange rates.
4) Operation results by geographic region
Net sales and profit both increased in all regions, mainly owing to improvement in sales mix/price and the impact of the exchange rates.
2. Forecast of Financial Results for FY2023
In the next fiscal year, the Company forecasts net sales of ¥4.9 trillion (up 5.6% from FY2022), mainly owing to increase in volume. Operating profit is expected to be 330 billion yen (down 5.9% from FY2022) due to factors such as increased growth investment to realize our growth strategy, as well as the strong yen and increase in raw material prices.
|Result for FY2022||Forecast for FY2023|
|Profit attributable to owners of parent||221.1||+37.9%||190.0||-14.1%|
3. Shareholder return
The Company recognizes shareholder returns as an important management issue, and the Company will improve shareholder returns as follows.
- ・Regarding a dividend policy, the Company emphasizes a progressive dividend policy that delivers consistent and stable dividends. The Company plans to pay an annual dividend for FY2022 of 100 yen per share, an increase of 9 yen from FY2021. In addition, although the Company forecasts decrease in profits in the next fiscal year, the Company aims for a dividend of at least 100 yen per share per year.
- ・The Company announced the repurchase of our own stock (up to 6 million shares, up to ¥20 billion).
- *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 USD/JPY, EUR/JPY, INR/JPY).
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