Suzuki Motor : Posted “FY 2019 Financial Results (Full Year)”
05/26/2020 | 03:18am EDT
26 May 2020
Suzuki Announces Financial Results for FY2019 (April 2019 to March 2020)
Decreased net sales and income owing to late recovery in the Indian automobile market and the impact of foreign exchange, and partly owing to the impact of the new coronavirus.
Year-enddividends of ¥48.00 per share, including a commemorative dividend of ¥11.00 per share for the Company's 100th anniversary of foundation. Annual dividends of ¥85.00 per share.
1. Outline of Financial Results for FY2019
Net sales and income of FY2019 (April 2019 to March 2020) decreased owing to late recovery in the Indian automobile market and the impact of foreign exchange, and partly owing to the impact of the new coronavirus which occurred at the end of the fiscal year.
Consolidated net sales decreased by ¥383.1 billion (9.9%) to ¥3,488.4 billion year-on-year. In terms of income, operating income decreased by ¥109.3 billion (33.7%) to ¥215.1 billion, ordinary income decreased by ¥134.1 billion (35.3%) to ¥245.4 billion, and net income attributable to owners of the parent decreased by ¥44.6 billion (24.9%) to ¥134.2 billion year-on-year. The decreased amount of net income attributable to owners of the parent was smaller compared to that of ordinary income, since the extraordinary loss (accounted ¥81.3 billion in FY2018 for conducting recall campaign in Japan) largely decreased year-on-year.
With respect to the dividends, although the net sales and income of FY2019 decreased, the Company would like to offer our gratitude to the shareholders for making the Company celebrate its 100th anniversary of foundation, in the form of a commemorative dividend. The Company schedules the year-end dividends of ¥48.00 per share, including an ordinary dividend of ¥37.00 per share and a commemorative dividend of ¥11.00 per share. The annual dividends will be ¥85.00.
2. Operating Results by Segment
Net sales decreased by ¥375.1 billion (10.6%) to ¥3,157.4 billion year-on-year owing to decrease in sales in India and Pakistan, and the impact of appreciation of Yen, and partly owing to the impact of the new coronavirus which occurred at the end of the fiscal year. Operating income decreased by ¥106.7 billion (35.1%) to ¥197.1 billion year-on-year owing to appreciation of Yen and increase in depreciation expenses, in addition to decrease in sales.
(2) Motorcycle business
Net sales decreased by ¥12.5 billion (4.9%) to ¥242.6 billion year-on-year owing to decrease in sales in Europe, North America, and Indonesia, and the impact of appreciation of Yen, while sales in India increased. Operating income decreased by ¥2.9 billion (80.9%) to ¥0.7 billion year-on-year partly owing to the impact of the new coronavirus which occurred at the end of the fiscal year.
(3) Marine business, etc.
Net sales increased by ¥4.5 billion (5.4%) to ¥88.4 billion year-on-year owing to increase in sales of outboard motors in Europe and motorized wheelchairs in Japan. Operating income increased by ¥0.3 billion (1.6%) to ¥17.3 billion year-on-year. Although the marine business alone increased the net sales by ¥1.5 billion (2.1%) to ¥74.5 billion year-on-year, the operating income decreased by ¥0.4 billion (3.1%) to ¥14.1 billion year-on-year partly owing to slowdown in North America in the January-March period.
(4) Operating results by geographic region
Japan, Europe, and Asia saw decrease in net sales and income. With respect to operating income, Japan decreased by ¥27.6 billion (18.3%) to ¥123.2 billion, Europe decreased by ¥5.3 billion (23.1%) to ¥17.7 billion, and Asia decreased by ¥81.5 billion (56.5%) to ¥62.7 billion year-on-year.
3. Forecasts for Consolidated Operating Results of the Next Fiscal Year With respect to the forecasts for consolidated operating results of the next fiscal year, we are unable to provide appropriately calculated and reasonably forecasted values due to the spread of the new coronavirus infection. Currently, there are many undetermined factors in forecasting business results, as the new coronavirus has affected the operation of our Company's manufacturing facilities in countries including Japan, India, Pakistan, Hungary, and the Philippines, as well as sales in the world.
We will disclose the forecasts as soon as it becomes possible to calculate the impact of the new coronavirus appropriately and rationally.
Suzuki Motor Corporation published this content on 26 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2020 07:17:01 UTC