Suzuki Q2 profits up on improved India vehicle sales

Suzuki Motor Corporation today announced its financial results for the second quarter of FY2015. The consolidated net sales of this second quarter (April 2015 to September 2015) increased by ¥124.8 billion (8.7%) to ¥1,555.5 billion compared to the corresponding period of the previous fiscal year.

Japanese domestic net sales decreased by ¥20.7 billion (4.0%) to ¥500.0 billion year-on-year due to the impact of the hike in the rate of the light motor vehicle tax and decrease in OEM sales. The overseas net sales increased by ¥145.5 billion (16.0%) to ¥1,055.5 billion year-on-year mainly owing to the increase in automobile sales in India.

In terms of the consolidated income, the operating income increased by ¥10.6 billion (11.7%) to ¥101.1 billion year-on-year mainly owing to the increase in the income in India. The ordinary income increased by ¥14.9 billion (15.3%) to ¥112.1 billion year-on-year. The net income attributable to owners of the parent increased by ¥25.2 billion (46.5%) to ¥79.1 billion year-on-year mainly owing to the gain on sales of investment securities.

The overseas net sales increased year-on-year mainly owing to the increase in India and Pakistan. Consequently, the net sales of the automobile business increased by ¥119.7 billion (9.4%) to ¥1,395.9 billion year-on-year. The operating income increased by ¥8.7 billion (10.1%) to ¥94.5 billion year-on-year mainly owing to the increase in the income in India.

In the motorcycle business, the net sales were flat year-on-year at ¥123.3 billion, mainly owing to the decrease in the sales in Indonesia, despite increase in Europe and India. The operating loss of ¥0.2 billion in the corresponding period of the previous fiscal year became an operating loss of ¥1.2 billion.

Suzuki has also raised its consolidated operating results for the full year, as a result of the improved Q2 performance.