Isuzu 2011 Annual Report Download

Download and view the complete annual report

Please find the complete 2011 Isuzu annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 38

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38

Table of contents

  • Page 1

  • Page 2
    ... and diesel engines, supporting our customers and respecting the environment Our Corporate Mission Trust, Action, Excellence A global team delivering inspired products and services committed to exceeding expectations CONTENTS Profile Consolidated Financial Highlights Major Press Releases Message...

  • Page 3
    ...Group companies' sales networks, General Motors Group companies' sales networks, trading companies, and other partners. 1. Principal products â- Light- to heavy-duty trucks â- Buses â- Pickup trucks â- Industrial diesel engines 2. Features In Japan, Isuzu boasts No. 1 share in the light-duty...

  • Page 4
    ... dollars 2011 Per Share: Net income (loss) - primary March 31, 2011. ¥ 30.45 2010 ¥ 4.96 2009 ¥ (15.85) 2011 $ 0.36 Note: U.S. dollar figures have been calculated at the rate of ¥83.15=U.S.$1, the approximate rate of exchange prevailing on the Foreign Exchange Market on Net Sales (Millions...

  • Page 5
    ...recognition that Saudi Arabia is a key market that is expected to grow, together with the cooperation of the country's government. Isuzu plans to establish a local company in 2011 and to begin assembly of the FORWARD medium-duty truck at a plant to be built in the No. 2 Dammam Industrial Park by the...

  • Page 6
    ... the earthquake and outlook for the fiscal year ending March 31, 2012 We suspended production in the wake of the Great East Japan Earthquake on March 11, but had begun a progressive resumption of operations by April. In May, production had returned to 90% of the previous year's volume, and by June...

  • Page 7
    ... to a global tripolar structure consisting of the commercial vehicle (CV) business in developing nations in addition to our well-established commercial vehicle (CV) business in Japan and light commercial vehicle (LCV) business centered in Thailand. Going forward, we at Isuzu look forward to your...

  • Page 8
    ... Special Feature: Highlights from Isuzu Motors Financial Statements ¥341 16.97 million 28.61% A&A Company Report Share data Principal market: First Section, Tokyo Stock Exchange Share price (as of 8/31/2011): Outstanding shares: Percentage of foreign ownership: Share price Business outlook...

  • Page 9
    ... Motors Limited Annual Report 2011 Commercial vehicle/commercial light vehicle shipments Isuzu has steadily grown shipments to overseas markets where growth is expected, by strengthening its business structures and pioneering new markets. Following inventory adjustment and a recovery in the market...

  • Page 10
    ... overseas performance. Asia, primarily Thailand, accounts for 35% of the Company's sales, with the 26% of sales in the Other category more or less evenly divided among the Middle East, Africa, South and Central America, Oceania, and Europe. Consolidated Revenues by Segment - JPY Bil. Domestic North...

  • Page 11
    Isuzu Motors Limited Annual Report 2011 Performance summary Results and forecasts (Billions of yen) Sales Domestic sales Overseas sales Operating income Operating...by geographic segment (Billions of yen) Sales Japan Asia Other Adjustment Operating income Japan Asia Other Adjustment '07/3 1,662.9 1,...

  • Page 12
    ... aid vehicles (used by Japan's SelfDefense Force and fire departments), aid transport vehicles, and diesel engines for use in construction machinery and generators. We will strive to provide a stable supply of parts and repair service in support of these operations. Assisting in the repair of water...

  • Page 13
    Isuzu Motors Limited Annual Report 2011 Isuzu's water-damaged vehicle repair operation team production parts. The entire Isuzu Group came together to source the needed parts, with partner companies chipping in by supplying parts on short notice. On May 12, repairs to a total of nine vehicles were...

  • Page 14
    ... toward shareholders. Overview of Isuzu's corporate governance structures The Company has established a Board of Directors and an Audit Committee as internal bodies to oversee and audit important management decisions. To speed up managerial decision-making and business operations, Isuzu has...

  • Page 15
    ... Internal Audit Systems General Shareholders Meeting The Basic Compliance Initiative Compliance Code of Conduct Group Corporate Vision Group Conduct Guidelines Group Conduct Standard relating to Compliance Discussion Accounting Auditor Board of Directors Reporting Audit Committee Group Companies...

  • Page 16
    ... Director of the Board and Managing Executive Officer Takanobu Furuta Director of the Board and Managing Executive Officer Masanori Katayama Director of the Board and Managing Executive Officer Tsutomu Yamada Director of the Board and Senior Executive Officer Ryo Sakata Director of the Board...

  • Page 17
    Financial Section ISUZU MOTORS LIMITED Annual Report 2011 Consolidated Five-Year Summary MD&A Consolidated Balance Sheets Consolidated Statements of Income Consolidated Statements of Comprehensive Income Consolidated Statements of Change in Net Assets Consolidated Statements of Cash Flows Notes to...

  • Page 18
    Financial Section Consolidated Five-Year Summary Millions of yen Thousands of U.S. dollars 2011 For the Year: Net sales Cost of sales Gross profit Selling, general and administrative expenses Operating income Income before extraordinary items Income before income taxes Net income (loss) At Year-...

  • Page 19
    Isuzu Motors Limited Annual Report 2011 Management's Discussion and Analysis of Financial Condition and Results of Operation The following provides an analysis of the financial condition and results of operation in fiscal 2011. The following information contains forward-looking statements that ...

  • Page 20
    ...in the annual securities report, or share prices, and these risks are outlined below. (The following information includes forward-looking statements that reflect the judgment of management as of June 29, 2011.) 1. Economic situation/supply and demand trends in Isuzu's major markets Vehicles account...

  • Page 21
    ... its products as well as to build and maintain good relationships with its business partners. For marketable securities, a downturn in share prices could have a negative impact on the Group's performance and financial position. Isuzu provides management guidance and advice to companies-including...

  • Page 22
    ... Property, Plant and Equipment: (Note 4) Land (Note 8) Buildings and structures Machinery and equipment Lease assets Construction in progress Less : accumulated depreciation Net Property, Plant and Equipment Other Assets: Total Assets See accompanying notes to consolidated financial statements. 61...

  • Page 23
    Isuzu Motors Limited Annual Report 2011 Millions of yen Thousands of U.S. dollars Liabilities and Net Assets Current Liabilities : Bank loans Current portion of bonds Notes and accounts payable Lease obligations Accrued expenses Accrued income taxes (Note 6) Deposits received Other current ...

  • Page 24
    Financial Section Consolidated Statements of Income Net Sales Cost of Sales Gross Profit Selling, General and Administrative Expenses Operating Income Other Income (Expenses): Interest and dividend income Interest expense Equity in earnings of unconsolidated subsidiaries and affiliates Others, net ...

  • Page 25
    Isuzu Motors Limited Annual Report 2011 Consolidated Statements of Change in Net Assets (Note 7) (For the years ended March 31, 2011, 2010 and 2009) Millions of yen Treasury stock, at cost Unrealized holding gain on securities Unrealized holding gain on land revaluation Unrealized gain from ...

  • Page 26
    ... (Used in) Operating Activities Cash Flows from Investing Activities Payment on purchase of securities Proceeds from sales of securities Payment on purchase of property, plant and equipment Proceeds from sales of property, plant and equipment Payment on long-term loans receivable Collection of long...

  • Page 27
    ... the balance sheet. Employees' retirement benefits covering all employees are provided through an unfunded lump-sum benefit plan and a funded pension plan. Under the plans, eligible employees are entitled, under most circumstances, to severance payments based on compensation at the time of severance...

  • Page 28
    ...) are applied. j) Net Income per Share Net income per share of common stock is calculated based upon the weighted average number of shares of common stock outstanding during each year. Basis for the calculation of net income per share at the year ended March 31, 2011 is as follows: Millions of yen...

  • Page 29
    Isuzu Motors Limited Annual Report 2011 Millions of yen 2010 (as of March 31, 2010) 5. Retirement Benefit Obligation and Pension Plan Unrealized gain (loss) ¥ ¥ 6,419 6,419 Acquisition costs ¥ ¥ 6,939 6,939 Carrying value ¥ 13,358 ¥ 13,358 Unrealized gain: Stocks: Total Unrealized loss:...

  • Page 30
    ...(1,040,369) 381,209 Increase due to purchase of odd stocks Balance at the end of the year 8. Land Revaluation In accordance with the Law concerning Revaluation of Land enacted on March 31, 1999, the land used for business owned by the Company and its domestic consolidated subsidiaries and domestic...

  • Page 31
    ... method Type of derivative transactions Forward foreign exchange contracts Main hedge items Contract amount Over 1 year Fair value Contract amount Over 1 year Fair value Principal accounting method Buy Japanese yen Sell U.S. dollar Australian dollar Forward foreign exchange contracts Sell...

  • Page 32
    ..., 2011 is as follows. Financial instruments, whose fair values are deemed to be extremely difficult to assume, are not included in the following table. ( of yen Millions Carrying Value Fair value Difference Carrying Value Thousands of U.S. dollars Fair value Difference (1) Cash and time deposits...

  • Page 33
    ... sales Tri Petch Isuzu Sales Co., Ltd ITOCHU Corporation Thousands of U.S. dollars 249,469 167,996 Comprehensive income attributable to owners of the parent Comprehensive income attributable to minority interests Total ¥ ¥ 16,985 6,472 23,457 Name of customers Net sales Tri Petch Isuzu Sales...

  • Page 34
    Report of Independent Auditors Report of Independent Auditors 32

  • Page 35
    ..." industrial site, Elabuga district, Republic of Tatarstan, Russian Federation, 423603 Tel: 7-85557-5-19-84 Tri Petch Isuzu Sales Co., Ltd. (TIS) 1088 Vibhavadi Rangsit Road, Chatuchak, Bangkok 10900, Thailand Tel: 66-2-966-2111 Africa General Motors Egypt S.A.E. Sofitel Maadi, Misr International...

  • Page 36
    ... Industry Co., Ltd. Company shares are listed on the Tokyo Stock Exchange. The Company's name is changed to Isuzu Motors Limited. Isuzu signs a technical assistance agreement with Rootes, Ltd., of the U.K. for the Hillman passenger car. The Fujisawa Plant begins operations. Isuzu Sales and Finance...

  • Page 37
    ... Manufacturing of engines and parts Manufacturing of trucks, engines, components and parts Head Office Tochigi Plant Fujisawa Plant Common Stock and Number of Shareholders Shares authorized: Shares issued: No. of shareholders: No changes in the total of shares issued at the end of March 31, 2011...

  • Page 38
    ISUZU MOTORS LIMITED 6-26-1, Minami-oi, Shinagawa-ku Tokyo 140-8722, Japan Tel: +81-3-5471-1141 Fax: +81-3-5471-1043 ht tp: // w w w.isuzu.co.jp / world /