Announcement on the Changes in Isuzu Consolidated and
Non-consolidated Financial Performance Forecasts
For Fiscal Year Ending March 2009 and
Reversal of Deferred Tax Assets
April 28, 2009
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: | Isuzu Motors Limited
Code No. 7202, The 1st Section, Tokyo Stock Exchange in Japan
Susumu Hosoi, President and Representative Director
http://www.isuzu.co.jp/world/investor/index.html
Hirotoshi Kouyama, General Manager, General Affairs,
Corporate Administration Division, Isuzu Motors Limited, Tel: 81-3-5471-1141 |
Further to the previous announcements made at the account closing on February 6, 2009, Isuzu Motors Limited (the "Company") announces following adjustments and changes in the forecasts for consolidated and non-consolidated financial performance for fiscal year ending March 2009 as described in "1. Adjustment and changes made in the financial performance forecasts".
In addition, the Company announces following reversal of deferred tax assets has been projected in the financial performance for fiscal year ending March 2009 as described in "2. Reversal of deferred tax assets".
1. | Adjustment and changes made in the financial performance forecasts |
(1) | Adjustments and changes made in the consolidated performance forecasts (for the period starting from April 1, 2008 and ended March 31, 2009). |
(Unit: Millions of Yen, or %)
| Consolidated | Net Sales | Operating
Income | Ordinary
Income | Net Income | Net Income
per Share | | (A) | Previous forecast
as of Feb. 6, 2009 | | 1,460,000 | 9,000 | 2,000 | (15,000) | Yen
(8.85) | | (B) | Adjusted/changed
as of Apr. 28, 2009 | | 1,424,700 | 21,700 | 15,200 | (26,900) | Yen
(15.85) | | Changes (B - A) | (35,300) | 12,700 | 13,200 | (11,900) | - | | Changes in % | (2.4%) | 141.1% | 660.0% | - | - | Previous year's actual
(April 2007- March 2008) | 1,924,833 | 109,573 | 122,322 | 76,021 | Yen
44.60 | |
(2) | Adjustments and changes made in the non-consolidated performance forecasts (for the period starting from April 1, 2008 and ended March 31, 2009). |
(Unit: Millions of Yen, or %)
| Non-consolidated | Net Sales | Operating
Income | Ordinary
Income | Net Income | Net Income
per Share | | (A) | Previous forecast
as of Feb. 6, 2009 | | 870,000 | (19,000) | (9,000) | (20,000) | Yen
(11.80) | | (B) | Adjusted/changed
as of Apr. 28, 2009 | | 857,400 | (14,000) | (3,300) | (35,200) | Yen
(20.78) | | Changes (B - A) | (12,600) | 5,000 | 5,700 | (15,200) | - | | Changes in % | (1.4%) | - | - | - | - | Previous year's actual
(April 2007- March 2008) | 1,027,349 | 48,190 | 50,168 | 43,504 | Yen
25.52 | |
Operating income and ordinary income have been projected to be revised upward, mainly because of company-wide productivity improvements and cost cut efforts. However, net income (loss) has been projected to fall downward as a result of the revaluation in deferred tax assets, compared with the previous forecast.
2. | Reversal of deferred tax assets |
As a result of considering the realizability of deferred tax assets strictly, the company has decided to reverse the deferred tax assets. The amount of reversal of deferred tax assets is 24.5 billion yen (consolidated) and 22.4 billion yen (non-consolidated), respectively, and it has been recorded as income taxes (deferred).
(Note) The above financial projection is calculated based on information available presently by the Company and specific prerequisites judged reasonable. There are possibilities that the actual financial results would vary largely depending upon various factors.
