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Isuzu Motors FY Profit Rises

Isuzu Motors Ltd. (ISUZY.PK) reported that its net income attributable to owners of the parent for fiscal year ended March 31, 2019 rose 7.4% year-on-year to 113.4 billion yen. Operating income increased 6.0% to 176.7 billion yen.

Net sales grew by 78.8 billion yen or 3.8% to 2.15 trillion yen, reflecting increase in the pickup truck sales in Thailand and the engine and component sales, as well as expansion in the vehicle life-cycle management business.

Vehicle unit sales in Japan rose by 2,169 units or 3.0% to 74,431 units reflecting last-minute demand before the change of emissions regulations for light-duty trucks.

Overseas vehicle unit sales increased by 28,261 units or 6.6% over the previous fiscal year to 457,891 units as pickup trucks sold well in Thailand, with markets in Asia and Africa recovering. As a result, consolidated total vehicle unit sales in Japan and abroad grew by 30,430 units or 6.1% year-on-year to 532,322 units.

In fiscal year 2020 ending in March 2020, the company expects growth in the industrial engine business and the vehicle life-cycle management business, thus forecasting net sales to rise.

For the year ending March 31, 2020, the company expects net income attributable to owners of the parent of 100.0 billion yen, operating income of 165.0 billion yen, and net sales of 2.16 trillion yen.

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