FY2012 plans for Japanese OEMs: aim for record high sales of 24 million units

The strong yen only allows revenue recovery of 85% and operating profit of 60% to the record highs

2012/06/20

Summary

 FY2012 is the year in which Japanese OEMs plan to make a comeback from the damages caused by the natural disasters. Their aggressive plans are backed up by the revived subsidy program in the Japanese market and by the expansion of their overseas sales. The FY2012 planned total sales volume for the ten companies is set at 24,256K units, making a great year-on-year leap of 17.7%. This figure tops the highest sales of 22,624K units in FY2007 by 7.2%. Particularly, seven passenger car manufacturers target on expanding their sales in the Asian markets, setting their goals at a 22.6% year-on-year increase to 10,526 units. This will make up for the 43.3% of the worldwide sales. Nissan, Honda, Suzuki, Daihatsu, Fuji Heavy Industries (FHI), and Hino have respectively set their targeted sales volumes at their record high.

 The ten automakers are also planning to make aggressive investments on their capital expenditures with a 34.7% year-on-year increase to 2,537 billion JPY in total. Nissan, Suzuki, Mazda, Isuzu, and Hino's spending are planned to reach their record high.

On the other hand, planned consolidated revenues of the ten Japanese OEMs are 52.9 trillion JPY, up 16.9% year-on-year, but this figure is 10 trillion JPY (15.1%) short from the record high of 62.2 trillion JPY. The expected total operating profit for the ten companies which is set at 2.73 trillion JPY, up 92.5% year-on-year, only makes for approximately 60% of the record high due to the appreciating yen.

Related Reports:
Japanese OEMs produce 4.3M vehicles, up 14.9% globally in Jan.-Feb. 2012 YoY (Apr. 2012)
Japanese new vehicle sales: eco-car incentives to salvage 2012 sales to 5M units (Feb. 2012)

Japanese OEMs' FY2012 plans

Automobile sales volume
(1,000 units)
Consolidated revenues
(100 million yen)
Operating profit
(100 million yen)
FY2011
results
FY2012
plan
(Reference)
FY2007
results
FY2011
results
FY2012
plan
(Reference)
FY2007
results
FY2011
results
FY2012
plan
(Reference)
FY2007
results
Toyota 7,352 8,700 8,913 185,837 220,000 262,892 3,556 10,000 22,704
Nissan 4,456 4,920 3,698 94,090 103,000 108,242 5,458 7,000 7,908
Honda 3,137 4,300 3,925 79,481 103,000 120,028 2,313 6,200 9,531
Suzuki 2,560 2,811 2,406 25,122 26,000 35,024 1,193 1,200 1,494
Mazda 1,016 1,090 1,240 20,331 22,000 34,758 (387) 300 1,621
Mitsubishi 1,072 1,208 1,337 18,073 19,800 26,821 637 700 1,086
Daihatsu 940 1,001 945 16,313 16,700 17,026 1,155 1,200 652
FHI 640 721 597 15,171 18,600 15,723 440 670 457
Isuzu 381 506 509 14,001 16,300 19,248 974 1,230 1,096
Hino 129 153 112 13,146 14,800 13,686 375 470 459
Total 20,614 24,256 22,624 452,105 528,700 622,736 14,184 27,300 45,897

Source: OEMs' financial flash reports and earnings announcement documents
(Note) "Total" does not include the consolidated data of Daihatsu and Hino to avoid overlaps with Toyota.