SUZUKI MOTOR CORPORATION CONSOLIDATED Millions of yen (except per share amounts) Years ended 31 March 2019 2018 2017 2016 2015 Net sales ...................................... 3,871,496 3,757,219 3,169,542 3,180,659 3,015,461 Net income attributable to owners of the parent ..................................... 178,759 215,730 159,956 116,660 96,862 Net income per share: Primary ..................................... 395.26 488.86 362.54 234.98 172.67 Fully diluted............................... 395.20 473.74 362.48 234.92 172.63 Cash dividends per share ........... 74.00 74.00 44.00 32.00 27.00 Net assets .................................... 1,715,914 1,595,227 1,387,041 1,187,703 1,701,390 Total assets .................................. 3,401,970 3,340,828 3,115,985 2,702,008 3,252,800 Depreciation and amortization .... 148,926 150,877 163,397 168,315 134,377 Consolidated Balance Sheets As of 31 March 2019 and 2018 Consolidated Financial Statement SUZUKI MOTOR CORPORATION AND CONSOLIDATED SUBSIDIARIES Millions of yen 2019 2018 ASSETS Current assets: Cash and cash equivalents *Note 13.................................. 473,097 600,846 Receivables: Notes and accounts receivable-trade *Note 5............... 445,700 388,973 Allowance for doubtful accounts................................ (4,822) (4,769) Inventories *Note 7.............................................................. 351,896 352,916 Others.............................................................................. 356,445 481,022 Total current assets............................................................. 1,622,317 1,818,988 Property, plant and equipment: Land *Note 7.................................................................... 299,977 280,866 Buildings and structures *Note 7........................................ 490,441 454,347 Machinery,equipment and vehicles............................ 1,283,453 1,217,050 Tools,furniture and fixtures.......................................... 626,529 585,610 Construction in progress ................................................ 89,585 106,393 2,789,988 2,644,269 Accumulated depreciation.......................................... (1,885,711) (1,840,003) Total property, plant and equipment.................................. 904,276 804,265 Investments and other assets: Investment securities *Note 5............................................. 604,164 517,693 Investments in affiliates *Note 5.......................................... 39,145 35,509 Assets for retirement benefits *Note 9................................ 42 Deferred tax assets *Note 2 and 10......................................... 198,422 145,563 Others.............................................................................. 33,644 18,764 Total investments and other assets.................................... 875,376 717,573 Total assets............................................................................. 3,401,970 3,340,828 The accompanying Notes to Consolidated Financial Statement are an integral part of these statements. 4 SUZUKI MOTOR CORPORATION Consolidated Financial Statement SUZUKI MOTOR CORPORATION AND CONSOLIDATED SUBSIDIARIES Millions of yen 2019 2018 LIABILITIES AND NET ASSETS Current liabilities: Short-term loans payable *Note 5 and 7 ................................ 93,807 97,598 Current portion of long-term loans payable *Note 5 and 7.... 63,845 93,157 Accounts payable-trade *Note 5........................................ 327,373 443,916 Electronically recorded obligations................................ 71,532 68,322 Income taxes payable ................................................... 34,661 40,598 Accrued expenses *Note 5................................................. 297,200 215,335 Provision for product warranties .............................................. 248,199 105,106 Others.............................................................................. 203,040 177,305 Total current liabilities.......................................................... 1,339,662 1,241,341 Noncurrent liabilities: Bonds with subscription rights to shares *Note 5 and 6........ 11,535 194,211 Long-term loans payable *Note 5 and 7................................ 206,250 192,943 Liabilities for retirement benefits *Note 9............................ 82,813 65,224 Provision for disaster....................................................... 436 1,914 Deferred tax liabilities *Note 2 and 10..................................... 2,895 2,105 Others *Note 7..................................................................... 42,462 47,860 Total noncurrent liabilities................................................... 346,393 504,259 Total liabilities...................................................................... 1,686,055 1,745,601 Net assets: Shareholders' equity: Capital stock: Common stock Authorized: 1,500,000,000 shares Issued: as of 31 March 2019 :491,049,100 shares as of 31 March 2018 :491,018,100 shares.................... 138,161 138,064 Capital surplus................................................................ 143,965 143,868 Retained earnings........................................................... 1,314,587 1,247,242 Treasury stock................................................................. (113,963) (189,126) Total shareholders' equity................................................... 1,482,750 1,340,047 Accumulated other comprehensive income: Valuation difference on available-for-sale securities...... 95,873 108,528 Deferred gains or losses on hedges.............................. (219) 22 Foreign currency translation adjustment ....................... (164,544) (140,136) Accumulated adjustment for retirement benefits........... (21,369) (10,925) Total accumulated other comprehensive income............. (90,260) (42,511) Subscription rights to shares *Note 16............................... 115 126 Non-controlling interests................................................. 323,309 297,564 Total net assets....................................................................... 1,715,914 1,595,227 Total liabilities and net assets................................................. 3,401,970 3,340,828 As of 31 March 2019 and 2018 5 SUZUKI MOTOR CORPORATION Consolidated Financial Statement Consolidated Statement of Income and Consolidated Statement of Comprehensive Income (Consolidated Statement of Income) Years ended 31 March 2019 and 2018 SUZUKI MOTOR CORPORATION AND CONSOLIDATED SUBSIDIARIES Millions of yen 2019 2018 Net sales ............................................................................... 3,871,496 3,757,219 Cost of sales ........................................................................ 2,738,958 2,651,473 Gross profit ......................................................................... 1,132,538 1,105,745 Selling, general and administrative expenses *Note 11 and Note 12... 808,172 731,563 Operating income............................................................... 324,365 374,182 Other income (expenses): Interest and dividends income .......................................... 54,894 35,633 Interest expense ................................................................ (4,241) (8,152) Equity in earnings (losses) of affiliates .............................. 5,029 (13,870) Contribution *Note 2................................................................ (3,797) (846) Loss of liquidation of subsidiaries and affiliates................ (4,446) Impairment loss *Note 3......................................................... (1,514) (2,585) Measure expenses for final inspection *Note 4..................... (81,329) Others, net *Note 2................................................................. 9,429 (326) Income before income taxes etc....................................... 298,390 384,033 Income taxes *Note 10: Current ................................................................................ 103,503 121,527 Deferred ............................................................................. (42,000) (12,933) 61,502 108,593 Net income.......................................................................... 236,887 275,439 Net income attributable to non-controlling interests.......... 58,128 59,709 Net income attributable to owners of the parent.............. 178,759 215,730 Yen Net income per share: Primary................................................................................ 395.26 488.86 Fully diluted......................................................................... 395.20 473.74 Cash dividends per share................................................... 74.00 74.00 The accompanying Notes to Consolidated Financial Statement are an integral part of these statements. 6 SUZUKI MOTOR CORPORATION Consolidated Financial Statement (Consolidated Statement of Comprehensive Income) Years ended 31 March 2019 and 2018 SUZUKI MOTOR CORPORATION AND CONSOLIDATED SUBSIDIARIES Millions of yen 2019 2018 Net Income ........................................................................... 236,887 275,439 Other comprehensive income *Note 14 Valuation difference on available-for-sale securities......... (16,012) 16,036 Deferred gains or losses on hedges.................................. (214) (1,232) Foreign currency translation adjustment........................... (25,318) (35,936) Adjustment for retirement benefits..................................... (10,848) (514) Share of other comprehensive income of affiliates accounted for using equity method................................... (6,565) 234 Total other comprehensive income.................................... (58,958) (21,411) Comprehensive income...................................................... 177,928 254,027 Comprehensive income attributable to: Owners of the parent...................................................... 131,010 202,870 Non-controlling interests................................................. 46,918 only 2019 financial statements in this finencial ratio and calculated the formulas