Suzuki Motor (7269) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months ended December 31, 2024, rose 11.7% year-over-year to ¥4,283.7 billion, driven by higher unit sales, price revisions, and favorable foreign exchange rates.

• Operating profit increased 29.2% year-over-year to ¥479.7 billion, supported by revenue growth, FX gains, and cost reductions that offset higher R&D and labor costs.

• Profit attributable to owners of parent grew 31.5% year-over-year to ¥311.7 billion.

• Full-year guidance was revised upward, targeting ¥5.7 trillion in revenue and ¥590 billion in operating profit.

• The company adopted IFRS from FY2024 Q1, with a four-for-one stock split conducted on April 1, 2024.

Financial highlights

• Gross profit for the nine months was ¥1,168.1 billion, up from ¥1,002.8 billion year-over-year.

• Q3 profit attributable to owners of parent rose 31.5% year-over-year to ¥311.7 billion, with a margin of 7.3%.

• Global automobile sales volume increased 3.5% year-over-year to 2,363 thousand units; motorcycle sales rose 7.1% to 1,548 thousand units.

• Cash flow from operations was strong, with free cash flow at ¥236.9 billion for the quarter and net cash provided by operating activities at ¥481.9 billion for the nine months.

• Capital expenditures for Q3 reached ¥247.3 billion, up ¥40.2 billion year-over-year; R&D expenses rose to ¥180.2 billion.

Outlook and guidance

• Full-year revenue forecast raised to ¥5.7 trillion, operating profit to ¥590 billion, and profit to ¥370 billion, reflecting strong 9-month results and favorable FX.

• Automobile sales volume forecast at 3,244 thousand units, motorcycle sales at 2,035 thousand units for FY2024.

• FX assumptions for Q4: USD/JPY 150, EUR/JPY 155, INR/JPY 1.75.

• R&D and capital expenditures are expected to increase to support growth strategy.

• Forecast revisions reflect changes in FX rates, raw material prices, and updated sales expectations.