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

Table of contents

Summary
Consolidated sales volume: Record high of 24,256K units is planned for FY2012; 43.3% of the total sales is expected from Asia and other regions
Revenues: only make up for 85% of the history highest despite the planned increase of 16.9% year-on-year to 52.9 trillion JPY
Profits: Planned operating profit set at 2.73 trillion JPY, up 92.5% year-on-year; only makes for 60% of the record high
Factors of improving operating profits: increased revenues and lowered costs make up for two...
Planned capital expenditures up 35% to 2.5 trillion; Nissan, Suzuki, and Mazda mark their...

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.

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
	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.

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