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ISUZU MOTORS LIMITED ANNUAL REPORT 2003
14
Segment Information
By Type of Business
Total sales in the automotive segment were ¥1,337,695 million, a decrease of 13.1% year on year. This mainly
reflected structural reforms in the North American business. However, the Isuzu Group made a concerted effort to
reduce costs, mainly at the parent company and domestic sales companies. The result was a significant 135.1%
increase in segment operating income to ¥16,823 million.
Total sales in the finance segment declined 92.9% to ¥4,510 million. This mainly reflected the deconsolidation of
IFCO Inc., a domestic automotive leasing firm, following the sale of 80% of shares in the company to a third party in
the fiscal year ended March 31, 2002. The segment operating loss was ¥1,697 million due to restructuring costs
accompanying the realignment of a North American financial services subsidiary.
The miscellaneous segment recorded sales of large real estate properties in the previous fiscal year, but no
comparable real estate sales were posted in the fiscal year under review. Consequently, total sales in the miscella-
neous segment decreased 50.8% to ¥11,683 million. Segment operating income declined 46.4% to ¥857 million.
By Geographical Area
Total sales in Japan declined 5.1% to ¥942,455 million mainly due to the deconsolidation of IFCO. However, operating
income improved 37.9% to ¥19,316 million, reflecting improved profitability at Isuzu and its domestic sales companies.
In North America, there was a large decrease in segment sales and a much wider operating loss. Total sales
decreased 48.0% to ¥360,208 million, reflecting ongoing structural reforms. The operating loss widened from ¥7,129
million in fiscal 2002 to ¥11,518 million in fiscal 2003.
In other regions, total sales jumped to ¥192,003 million, due to brisk sales of a pickup truck model rolled out in
Thailand in 2002 and other factors. Operating income, however, decreased 9.7% to ¥3,140 million, partly due to for-
eign currency fluctuations.
0
400,000
800,000
1,200,000
99 00 01 02 03
Total Sales by Geographic Segment
(Millions of Yen)
Japan
North America
Other