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ISUZU MOTORS LIMITED ANNUAL REPORT 2002
14
Segment Information
By Type of Business
Despite falling demand for commercial vehicles amid a sluggish Japanese economy and lower combined domestic
and export unit sales resulting from intense competition in the U.S., sales to third parties in the automotive
segment increased by 3.9% to ¥1,518,134 million. The increase reflected the strong performance in engines and
automotive components. The segment posted operating income of ¥7,156 million, reversing a prior-year operating
loss of ¥29,899 million.
Finance segment sales to third parties fell by 38.3% to ¥59,886 million following the sale of 80% of the common
stock of Isuzu Group truck leasing company IFCO Inc., and the sell-off of lease receivables by a U.S.-based finance
subsidiary. On the other hand, operating income surged to ¥6,097 million from ¥2,177 million in fiscal 2001.
Miscellaneous sales to third parties jumped 79.1% to ¥19,680 million year on year. Operating income climbed to
¥1,600 million from the previous year’s ¥825 million.
By Geographical Area
Sales to third parties in Japan decreased 6.0% to ¥830,639 million due to soft demand for commercial vehicles in a
sluggish economy. Operating income on the other hand rebounded to ¥14,008 million from an operating loss of
¥7,914 million in the previous fiscal year. This result reflects efforts to restructure sales companies and other rational-
ization measures.
Boosted by sales of diesel engines at a manufacturing joint-venture with General Motors, sales to third parties in
North America climbed 12.0% to ¥658,713 million. While the operating loss narrowed from ¥16,265 million in fiscal
2001 to ¥7,129 million, the company’s results were affected by fierce competition from industry rivals.
Sales to third parties in regions categorized under “Other,” which includes Singapore, Australia, China, Poland,
the Philippines and Thailand, rose 11.7% to ¥108,349 million, mainly as a result of an increase in diesel engine produc-
tion at the ISPOL plant in Poland. Isuzu recorded operating income of ¥3,477 million in this region, a turnaround from
the previous year’s operating loss of ¥1,090 million.
0
500,000
1,000,000
1,500,000
98 99 00 01 02
Total Sales by Geographical Segment
(Millions of Yen)
Japan
North America
Other