Suzuki 2001 Annual Report Download

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ANNUAL REPORT
2001

Table of contents

  • Page 1
    ANNUAL REPORT 2001

  • Page 2
    ... 40 MAJOR OVERSEAS SUBSIDIARIES _____ 40 Head office & Takatsuka Plant Headquarters, Engineering center and Motorcycle engines assembling plant ON THE COVER (Top) The LIANA: The LIANA was launched at 2001 Geneva motor show. This is the vehicle for the "Life In A New Age", a symbolic model to build...

  • Page 3
    ... we opened a new subcompact car sales channel in April 2000, named Suzuki Arena, to strengthen our sales network. Meanwhile, in the overseas markets, we made efforts to increase exports of completed vehicles by introducing new models including the GSX-R1000 in our motorcycle lineup and vehicles such...

  • Page 4
    ...amounts) SUZUKI MOTOR CORPORATION AND CONSOLIDATED SUBSIDIARIES Years ended March 31, 2001 and 2000 Net sales ...Net income ...Net income per share: Primary ...Fully diluted ...Cash dividends per share ...Shareholders' equity ...Total current assets ...Total assets ...Depreciation and amortization...

  • Page 5
    ...) 2001 Net Sales By Market (Millions of yen) Other sales Motorcycle sales 272,727 17% 39,199 2% Other Sales Sales in Asia 143,102 9% 89,162 6% 271,481 17% Automobile sales 1,288,326 81% Sales in Japan 804,703 50% Sales in Europe 291,802 18% Sales in North America SUZUKI MOTOR CORPORATIONâ- 3

  • Page 6
    ...strengthened sales of small and subcompact vehicles by newly introducing Wagon R Solio 1.3, Grand Escudo and Aerio to our product lineup. GRAND ESCUDO (Export name: GRAND VITARA XL-7) ESCUDO (Export name: GRAND VITARA) AERIO (Export name: LIANA) 4 â-SUZUKI MOTOR CORPORATION WAGON R+ (manufactured...

  • Page 7
    ... and maximum efficiency to further heighten our business strengths. Kosai Plant Passenger car assembling plant Iwata Plant Multi-purpose vehicle and commercial vehiche assembling plant JIMNY CARRY VAN WAGON R (manufactured at Maruti Udyog Ltd. in India) SUZUKI MOTOR CORPORATIONâ- 5

  • Page 8
    ...of-the-line naked bike -- to enhance our product lineup of the highly profitable large models. As a result, while the output volume of the four Japanese makers in this displacement class decreased to 17,891 units (72% of the previous year), Suzuki achieved a large growth, to 2,496 units (125% of the...

  • Page 9
    ... manufacturing company, Suzuki Manufacturing of America Corporation (SMAC) in Rome, Georgia, U.S.A.; its plants' ground-breaking ceremony was held in March 2001. Production is scheduled to start in spring 2002. Suzuki is currently exporting completed ATVs to the United States. By switching to local...

  • Page 10
    ... Suzuki began production of a 2-cycle, 2.2 horsepower outboard motor in June 2000. Suzuki outboard motors provide power for a wide range of boats Power Products In contrast to 1999 when there was a large growth in exports of generators with a special surge in demand especially in the North American...

  • Page 11
    ... -- the sixth of Wagon R - the best selling mini vehicle in Japan such facility -- in November 2000, and the Toyama Pre-delivery preparation work center, in January 2001. In domestic sales, Suzuki is also putting much effort in sales of used cars. In October 2000, Suzuki Auto Auction Hamamatsu (SAA...

  • Page 12
    ...of an ATV plant (corporate name: Suzuki Manufacturing of America Corporation [SMAC] in Rome, Georgia, U.S.A.) The construction of the plant started this past March. In Europe in early February 2001, we increased the capital of Magyar Suzuki Corporation, Suzuki's automobile production base in Hungary...

  • Page 13
    ... of the Sub-S vehicle (Suzuki Wagon R+/Opel Agila) in Europe early in 2000, Suzuki and General Motors are working on numerous new vehicle joint-development programs. Suzuki and General Motors executed a number of new product launches in South America. For example, the 5-door Grand Vitara was...

  • Page 14
    ...Distribution companies: (Consolidated subsidiaries) Suzuki House Co., Ltd. Suzuki Marine Co., Ltd. Manufacturing & distribution company: (Company in the application of equity method) Arctic Cat Inc. D e a l e r s & C u s t o m e r s 12 â-SUZUKI MOTOR CORPORATION SUZUKI MOTOR CORPORATIONâ- 13

  • Page 15
    ... dividends per share ...Shareholders' equity ...Total current assets ...Total assets ...Depreciation and amortization ... Note: Yen amounts have been translated into U.S.dollars, for convenience only, at Â¥123.90 = US$1, the prevailing exchange rate on March 30, 2001. SUZUKI MOTOR CORPORATIONâ- 15

  • Page 16
    ... of March 31, 2001 and 2000 SUZUKI MOTOR CORPORATION AND CONSOLIDATED SUBSIDIARIES Millions of yen Thousands of U.S. dollars 2001 2000 2001 ASSETS Current assets: Cash and time deposits(Note 7) ...Marketable securities (Note 4 and 7) ...Receivables : Trade notes and accounts ...Less allowance...

  • Page 17
    ...SHAREHOLDERS' EQUITY Current liabilities: Trade notes and accounts payable ...Short-term bank loans (Note 5) ...Commercial paper (Note 5) ...Current portion of long-term debt (Note 5) ...Accrued income taxes ...Accrued expenses ...Other current liabilities ...Total current liabilities ... 2000 2001...

  • Page 18
    ... 2001 and 2000 SUZUKI MOTOR CORPORATION AND CONSOLIDATED SUBSIDIARIES Millions of yen Thousands of U.S. dollars 2001 ¥1,600,253 1,203,675 396,577 345,849 50,727 2000 ¥1,521,192 1,159,720 361,471 318,871 42,599 2001 $12,915,682 9,714,896 3,200,786 2,791,360 409,426 Net sales ...Cost of sales...

  • Page 19
    CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY Years ended March 31, 2001 and 2000 SUZUKI MOTOR CORPORATION AND CONSOLIDATED SUBSIDIARIES Thousands of shares of common stock Millions of yen Common stock Additional paid-in capital Consolidated retained earnings Treasury stock at cost Balance as ...

  • Page 20
    ...corporate auditors' bonuses ...Issue of common stock ...Conversion of convertible bonds ...Treasury stock acquired ...Increase resulting from consolidation of additional subsidiaries and affiliates ...Balance as of March 31, 2001... an integral part of these statements. 20 â-SUZUKI MOTOR CORPORATION

  • Page 21
    ...term debt and redemption of bonds Net decrease in commercial paper ...Proceeds from issuance of stocks ...Cash dividends paid ...Other ...Cash provided by(used in) financing activities Effect of exchange rate change on cash and cash equivalents Cash and cash equivalents increased(decreased) Cash and...

  • Page 22
    ...accompanying consolidated financial statements of SUZUKI MOTOR CORPORATION (the Company) have been prepared on the basis of generally accepted accounting principles and practices in Japan, and from the consolidated financial statements filed with the Ministry of Finance as required by the Securities...

  • Page 23
    ... sheet date. The shareholders' equity at beginning of the year is translated into Japanese yen at the historical rates. Profit and loss accounts for the year are translated into Japanese yen using the average exchange rate during the year or, alternatively, using the exchange rates prevailing at the...

  • Page 24
    ... are amortized on a straight-line basis over the employees' average remaining service years from the next year in which they arise. As a result of the application of the new accounting standard, when compared with the case where a previous standard was applied, retirement benefits expenses...

  • Page 25
    ...securities Marketable securities and investments in securities quoted at an exchange as of March 31, 2001 were as follows: Millions of yen Acquisition Cost Amounts for BS Valuation Those whose amount for BS exceeds acquisition cost (1) Stocks (2) Bonds (3) Others Sub Total Those whose amount for BS...

  • Page 26
    ...and bonds not traded in stock exchanges or other regulated markets are not included in the above. 5.Short-term bank loans, commercial paper and long-term debt Short-term bank loans and commercial paper as of March 31, 2001 and 2000 consisted of the following. The annual interest rates of short-term...

  • Page 27
    ...41,532 81,332 - Â¥21,544 $173,888 Assets pledged as collateral as of March 31, 2001: Millions of yen Thousands of U.S. dollars Investment in securities ...Inventories ...Property, plant and equipment ... Â¥ 264 5,087 5,379 $ 2,130 41,058 43,420 $86,610 Â¥10,730 SUZUKI MOTOR CORPORATIONâ- 27

  • Page 28
    ...applicable agreement. The 2.1 percent convertible bonds are convertible into common stock at the options of holders at the conversion price of ¥605.1 per share, after giving effect to the new shares issued to General Motors of Canada Limited on January 18, 2001. If the outstanding convertible bonds...

  • Page 29
    ...' pension plan is included in the figures written down above. In connection with the amendment of the Welfare Pension Insurance Law in 2000, the raising of the age for the start of payment is studied concerning the partial part carried out for the employees' pension fund and therefore decrease takes...

  • Page 30
    ...the employees' average remaining service years at the time when the difference was caused. e. Number of years for amortization of the difference caused at the time when the accounting standard was changed: 5 years 7.Cash and cash equivalents Cash and cash equivalents as of March 31, 2001 and 2000...

  • Page 31
    ... 627 334 Â¥ 247 2001 $12,385 (10,104) 2,280 1,364 2,154 3,518 1,925 $ 1,373 Millions of yen Thousands of U.S. dollars 2001 Â¥848 (570) 277 174 255 430 168 Â¥143 2000 Â¥713 (426) 286 152 338 491 147 Â¥163 2001 $6,845 (4,603) 2,241 1,412 2,061 3,474 1,363 $1,159 SUZUKI MOTOR CORPORATIONâ- 31

  • Page 32
    ... ...¥ 45 54 ¥100 2000 ¥27 32 ¥59 2001 $365 441 $807 9.Shareholders' equity On January 18, 2001, the Company issued 51,561,000 new shares to General Motors of Canada Limited in the amount of ¥58,109 million by third-party allotment. Under the Commercial Code of Japan, at least 50 per...

  • Page 33
    ... as an additional criterion. As the result of this change, ATV business is now categorized in "Motorcycle" business segment, previously categorized in "Others" business segment. Previous term business segments figures have been restated to reflect this change. SUZUKI MOTOR CORPORATIONâ- 33

  • Page 34
    ...,599 ¥ 778,854 ¥ 206,857 ¥1,167,216 Thousands of U.S. dollars 2001 Elimination and Japan Net sales: Outside customers ...Inter-area ...Operating expenses ...Operating income ...Assets ... Europe North America Other areas*1 corporate assets Consolidated $435,829 $ - $12,915,682 8,396 (2,750...

  • Page 35
    (c)Overseas sales Millions of yen 2001 Europe North America Asia Other areas *2 Consolidated ¥795,549 1,600,253 49.7% Overseas sales ...¥291,802 ¥271,481 ¥143,102 ¥89,162 Consolidated net sales ...Ratio of overseas sales to consolidated net sales ...Millions of yen 2000 Europe North America ...

  • Page 36
    ..., in our opinion, the consolidated financial statements expressed in Japanese yen have been properly translated into United States dollars on the basis set forth in Note 1. to the consolidated financial statements. Tokyo, Japan June 29, 2001 Seimei Audit Corporation 36 â-SUZUKI MOTOR CORPORATION

  • Page 37
    ...dollars SUZUKI MOTOR CORPORATION 2001 ASSETS Current assets: Cash and time deposits ...Marketable securities ...Receivables: Trade notes and accounts ...Subsidiaries and affiliates ...Less allowance for doubtful receivables ...Inventories ...Other current assets ...Total current assets 2000 2001...

  • Page 38
    ...164 200,301 151,259 487,724 Shareholders' equity Common stock: Authorized - 1,500,000,000 shares Issued, par value ¥50 per share as of March 31st, 2001 - 540,731,723 ...as of March 31st, 2000 - 489,160,819 ...Additional paid-in capital ...Earned surplus ...Retained earnings ...Net unrealized gains...

  • Page 39
    ... March 31st, 2001 and 2000 SUZUKI MOTOR CORPORATION Millions of yen Thousands of U.S. dollars 2001 Net sales ...Cost of sales ...Gross profit ...¥1,294,651 1,042,030 252,620 2000 ¥1,273,907 1,047,034 226,873 2001 $10,449,165 8,410,255 2,038,910 Selling, general and administrative expenses...

  • Page 40
    ...Maekawa Takashi Suzuki Shin Ishizuka CORPORATE DATA Head Office: 300, Takatsuka, Hamamatsu Shizuoka 432-8611, Japan M ailing Address: Hamamatsu-Nishi, P.O. Box 1 Hamamatsu, Shizuoka 432-8611, Japan Established: 1920 Employees: 14,460 (As of April 1, 2001) MAJOR OVERSEAS SUBSIDIARIES Suzuki M otor...

  • Page 41
    300 TAKATSUKA, HAMAMATSU, JAPAN ANNUAL REPORT 2000 99999-E2062-201 Printed in Japan