Consolidated Financial Results [Japanese GAAP]

In the fiscal year under review, the global economy experienced a temporary easing of supply constraints and the effects of inflation. However, geopolitical risks remained high and underlying price pressures persisted.

The Group’s net sales for the period under review were 136,436 million yen (up 13.3% year on year). Operating income was 12,105 million yen (up 42.6% year on year) as a result of efforts to improve profits, such as passing on cost increases to sales prices, while selling expenses increased. Ordinary income was 16,965 million yen (up 28.6% year-on-year) mainly due to an increase in foreign exchange gains caused by the depreciation of the yen. Profit attributable to owners of parent was 37,609 million yen (up 483.1% year on year), mainly due to gain on sales of investment securities associated with the reduction in strategic shareholdings and gain on sales of fixed assets associated with the sale of land in India.

The number of automobiles manufactured increased from the previous year, and sales increased from the previous year due in part to efforts to improve selling prices.

Profits increased from the previous year due to a decline in the prices of some raw materials as well as efforts to improve selling prices.