FY March 2025 Second Quarter Financial Results were announced on November 7, 2024
LATEST RESULTS HIGHLIGHTS
The Latest Financial Results
FY March 2025 First Half Results
| (Billion Yen) | FY March 2024 | FY March 2025 | Change from Prior Year | |
|---|---|---|---|---|
| 1st Half | 1st Half | 1st Half | ||
| Global Sales Volume (Thousand Units) | 616 | 630 | +14 | +2% |
| Consolidated Wholesales (Thousand Units) | 588 | 590 | +2 | 0% |
| Net Sales | 2,317.3 | 2,393.9 | +76.6 | +3% |
| Operating Income | 129.6 | 103.0 | -26.6 | -20% |
| Ordinary Income | 179.2 | 83.5 | -95.7 | -53% |
| Net Income | 108.1 | 35.3 | -72.8 | -67% |
| Operating Return on Sales | 5.6% | 4.3% | -1.3pts | |
| EPS(Yen) | 171.6 | 56.1 | -115.5 | |
Exchange Rate (Yen) US Dollar Euro Thai Baht Mexico Peso |
141 153 4.05 8.13 |
153 166 4.27 8.49 |
+12 +13 +0.22 +0.36 | |
*Net income indicates net income attributable to owners of the parent
For the first half of fiscal year ending March 31, 2025 (April 1, 2024 through September 30, 2024), global sales volume was 630,000 units, up 2% year on year, but lower than our expectation, reflecting lower sales in Asian markets, especially Japan. In the North American market, sales increased by 21% year over year thanks to the contribution of the CX-50 and CX-90, more than offsetting sales declines in Japan, China and other markets.
Consolidated wholesale volume was 590,000 units, up 2,000 units year on year.
Net sales were ¥2,393.9 billion, up 3% from the prior year, and operating income was ¥103.0 billion, down 20% from the prior year. Net income attributable to owners of the parent was ¥35.3 billion, down 67% from the prior year. Record sales in North America, but high industry incentives offset gains from volume and currency, and resulted in earnings falling below expectations.
Average exchange rates for the period were ¥153 to the US dollar, ¥12 weaker from the prior year and ¥166 to the euro, ¥13 weaker from the prior year.
FY March 2025 FORECAST
| （Billion Yen） | FY March 2024 | FY March 2025 | Chamge from Prior Year | Change from August Forecast | |
|---|---|---|---|---|---|
| Full Year | Full Year | Full Year | Full Year | ||
| Global Sales Volume（Thousand Units） | 1,241 | 1,350 | +109 | +9% | -50 |
| Consolidated Wholesales（Thousand Units） | 1,202 | 1,250 | +48 | +4% | -50 |
| Net Sales | 4,827.7 | 5,000.0 | +172.3 | +4% | -350.0 |
| Operating Income | 250.5 | 200.0 | -50.5 | -20% | -70.0 |
| Ordinary Income | 320.1 | 190.0 | -130.1 | -41% | -30.0 |
| Net Income | 207.7 | 140.0 | -67.7 | -33% | -10.0 |
| Operating Return on Sales | 5.2% | 4.0% | -1.2pts | -1.0pts | |
| EPS(Yen) | 329.6 | 222.1 | -107.5 | -15.9 | |
Exchange Rate(Yen) US Dollar Euro Thi Baht Mexico Peso |
145 157 4.11 8.35 |
149 163 4.26 8.01 |
+4 +6 +0.15 -0.34 |
-1 +1 +0.14 -0.30 | |
*Net income indicates net income attributable to owners of the parent
For the fiscal year ending March 31, 2025 (April 1, 2024 through March 31, 2025), the full year forecast for global sales is 1.35 million units, up 9% year on year, but down from our August forecast reflecting weaker sales in Japan, and lower expected growth in other markets including the Middle East.
Consolidated wholesales volume is revised to 1.25 million units, reflecting the sales forecast.
The full year profit forecast has been revised downward based on the change in wholesale volume as well as our outlook for foreign exchange. Net sales are expected to be ¥500 billion, net income to be ¥200 billion, and net income attributable to owners of the parent to be ¥140 billion.
Our exchange rate assumptions are ¥149 to the US dollar and ¥163 to the euro.
The management team is committed to achieving forecast and restoring a solid earnings base.
Graphs displaying results and financial data
Global sales volume (Thousands of Units)
Net Sales (Billions of Yen)
Operating Income
(Billions of Yen)
Net Income Attributable to Owners of the Parent (Billions of Yen)
