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Isuzu Motors 9-month Profit Rises; Backs FY Outlook

Isuzu Motors Ltd. (ISUZY.PK) reported that its net income attributable to owners of the parent for the first nine months ended on December 31, 2018 rose by 12.1% year-over-year to 93.9 billion yen.

On the profit and loss front, the sales growth combined with steady profitability improvement based on cost-cutting efforts raised operating income by 17.1% compared with the same period last fiscal year to 144.1 billion yen and ordinary income by 13.9% to 152.1 billion yen.

In the current fiscal year's first nine months ended on December 31, 2018, vehicle unit sales in Japan increased by 17 units (0.0%) compared with the same period last fiscal year to 53,516 units reflecting growth in the share in the light-duty vehicle market, though the shares in the medium- and heavy-duty vehicles markets fell.

Overseas vehicle unit sales rose by 26,054 units (8.4%) over the same period last fiscal year to 336,930 units due to increases in units of vehicles sold in Thailand and African countries. As a result, total vehicle unit sales in Japan and abroad grew by 26,071 units (7.2%) year-on-year to 390,446 units.

Net sales increased by 88.7 billion yen or 5.9% year-over-year to 1.588 trillion yen, which comprised 600.9 billion yen for Japan (up 4.6% over the same period last fiscal year) and 987.4 billion yen for the rest of the world (up 6.7% year-on-year), because of the sales growth in vehicles, engines and components and vehicle life-cycle management business.

For fiscal 2019, the company still expects net income to owners of parent of 118.0 billion yen, net income per share of 156.22 yen and net sales of 2.17 trillion yen.

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