1 Copyright(C) 2012 Isuzu Motors Limited All rights reserved

FY20FY201122 3Q Financial Results3Q Financial Results

February 8 , 2012February 8 , 2012

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ContentsContents

Ⅰ. FY20FY20112 3Q Outline2 3Q OutlineDirector : Toshio Sasaki

Ⅱ. FY20FY20112 3Q Financial Summary2 3Q Financial SummaryExecutive Officer : Masayuki Fujimori

Ⅲ. Q&AQ&A

Statements contained in this presentation, except for historical or current facts, are based on certain assumptions and our management's judgment in light of currently available information. Therefore, these statements may be susceptible to various factors, such as uncertainty contained in the assumptions and management's judgment and economic changes in the future, which may cause to bring about different results in Isuzu's future earnings and operating results.

Moreover, this presentation is not intended to solicit investment in Isuzu. Isuzu assumes no responsibility for any losses and liabilities that may be incurred because of the information in this presentation.

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ⅠⅠ. . FY2012 3Q OutlineFY2012 3Q Outline

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FY12 1-3Q FY11 1-3Q ChangesNet Sales 964.5 1,070.4 -105.9

Operating Income 64.2 69.3 -5.1Ordinary Income 66.5 71.2 -4.7

Net Sales 48.7 47.1 1.6

FY2012 3Q Consolidated ResultsFY2012 3Q Consolidated Results-- YearYear--onon--year Comparison year Comparison --

( JPY Bil. ) FY12 3Q FY11 3Q Changes

Net Sales 306.4 345.5 -39.1Operating Income 20.4 22.5 -2.1Ordinary Income 21.3 23.5 -2.2

Net Income 15.0 17.9 -2.9

【9 months 】【9 months 】

※FX：FY2012 3Q: 78JPY/$

　　　 FY2011 3Q: 83JPY/$

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ⅡⅡ--11. . Market InformationMarket Information

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JapanJapan

19 24

440030

5

10104

13

2121

5

10

2

OceaniaOceania

3

5

2011 2217

AsiaAsia

35

14

11

3222

52

88

EuropeEurope29

ChinaChina

414143

3612

206

18

3445

7

5

CV Global ShipmentCV Global Shipment-- Vehicle and KDVehicle and KD--SET, etc: KSET, etc: K--units units --

25

3244

413

1111

1515

1811 29

16

55334

1

4

62 1

166

12

1212

8

11332

885 6

： H1Shipment FY10 FY11 FY12

3Q 47,194 62,819 75 ,172

1-3Q 110,207 194,097 193 ,660

： 3Q

’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q

’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q

’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q

’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q ’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q

’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q

’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q

’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q

North AmericaNorth

America

Mid-South America

Mid-South America

Mid-East/Africa

Mid-East/Africa

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Japan Industry Sales and Isuzu ShareJapan Industry Sales and Isuzu Share-- H/D, M/D Truck:4ton or aboveH/D, M/D Truck:4ton or above --

（Share）Apr-DecApr-Dec

Oct-DecOct-Dec

（Unit）

（Unit） （Share）

4,2713,601

32.7%

28.3%

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

'11/3 3Q '12/3 3Q

0%

10%

20%

30%

40%

11,025

15,104

+18.6%ISUZUISUZU

ISUZUShare

+37.0%

11,01512,592

33.9%

28.3%

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

'11/3 1-3Q '12/3 1-3Q

0%

10%

20%

30%

40%

-12.5%

ISUZU ISUZU

ISUZUShare

+4.6%

38,86637,162

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Japan Industry Sales and Isuzu ShareJapan Industry Sales and Isuzu Share-- L/D(2L/D(2--3ton) Truck3ton) Truck --

（Share）Apr-DecApr-Dec

Oct-DecOct-Dec

（Unit）

（Unit） （Share）

6,0714,891

36.9%

35.9%

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

'11/3 3Q '12/3 3Q

0%

10%

20%

30%

40%

13,256

16,905

+24.1%ISUZUISUZU

ISUZUShare

+27.5%

17,09116,083

40.5% 39.1%

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

'11/3 1-3Q '12/3 1-3Q

5%

15%

25%

35%

45%

55%

39,74543,728

+6.3%ISUZU

ISUZU

ISUZUShare

+10.0%

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18

OceaniaOceania

10AsiaAsia

96

47

12

EuropeEurope ChinaChina

20

149

12

LCV Global ShipmentLCV Global Shipment-- Vehicle and KDVehicle and KD--SET, etc: KSET, etc: K--units units --

149

33 25

13 77

6

2020

38 6

8288

3 3

13533

1616

4

5

9 8

9260

242448

108 11611653

2618

553131

1129 14

1291

13615

2

： H1

： 3Q

Shipment FY10 FY11 FY123Q 74,559 85,997 41,179

1-3Q 174,935 265,169 204,228

’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q ’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q

’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q ’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q

’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q ’10/3 1-3Q ’11/3 1-3Q ’’12/3 112/3 1--3Q3Q

Mid-South America

Mid-South America

Mid-East/ Africa

Mid-East/ Africa

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PickPick--up truck monthly sales up truck monthly sales in Thailandin Thailand

（K-Unit）

10.9

13.1

14.3

16.0

10.6

13.4

14.5

11.7 12.1 12.3

11.2

12.3

9.410.2

9.8

7.88.28.3

7.97.88.0

10.610.710.9

9.9

11.9

7.5

2.0

4.7

9.9

10.911.810.8

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR

FY10 FY11 FY12

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Industrial EngineIndustrial Engine Global ShipmentGlobal Shipment-- KK--UnitsUnits--

IndustrialEngine

～1.1　1.6　2.2　2.4　3.0　　5.2　　　7.8　　　　　9.8　　　　　　15.7　　ℓ　　

　　　　

C(IDI) C(DI) 4L 4J 4H 6H 6U 6W　　

　　　

5063

56

15

54

29

35

17

14

36

70

34

0

20

40

60

80

100

120

'07/3 '08/3 '09/3 '10/3 '11/3 '12/3

79

99

74

30

90

104

3Q

H1

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ⅡⅡ--22. . FY2012 3Q Financial SummaryFY2012 3Q Financial Summary

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( JPY Bil. ) FY12 3Q FY 11 3Q Changes

Net Sales 306.4 345.5 -39.1Operating Income 20.4 22.5 -2.1Ordinary Income 21.3 23.5 -2.2

Net Income 15.0 17.9 -2.9

FY2012 3Q Consolidated ResultsFY2012 3Q Consolidated Results（（Oct.Oct.--Dec. 2011Dec. 2011））-- YearYear--onon--year Comparison year Comparison --

※FX: FY2012 3Q: 78JPY/$FY2011 3Q: 83JPY/$

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FY2011 3Q vs. FY2012 3Q FluctuationsFY2011 3Q vs. FY2012 3Q Fluctuations-- Consolidated operating income: analysis of change, Consolidated operating income: analysis of change, JPY:BilJPY:Bil..

-2.1

1.9 -3.7

20.4

22.5

-2.12.9

-1.1

Material C

ost R

eduction

Sales/Model M

ix

FX

Steel, Oil Price

etc. Fluctuations

FixedC

ost Fluctuation

Operating Incomefor FY12 3Q

Operating Incomefor FY11 3Q

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FY201FY20122 3Q Consolidated Results3Q Consolidated Results（（Oct.Oct.--Dec. 2011)Dec. 2011)-- Ordinary income, Net income, YearOrdinary income, Net income, Year--onon--year year --

Operating Income Change -2.1* Equity in Earnings of Affiliates -0.7* FX gain and loss, Other 0.6

Total -2.2

Ordinary Income 21.3* Extra Profit / Loss -1.4* Tax and minority interests -4.9

Net Income 15.0

OrdinaryIncom

eExtra Profit /

Loss etc.

( JPY Bil. ) FY12 3Q FY11 3Q ChangesNet Sales 306.4 345.5 -39.1

Operating Income 20.4 22.5 -2.1Ordinary Income 21.3 23.5 -2.2

Net Income 15.0 17.9 -2.9

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