Suzuki Motor Corp. reported net sales of $34.37 billion in fiscal year 2023, a 15.8% increase year-over-year. Operating profit was $3.13 billion, and cash flow from operating activities was $5.46 billion.
In the marine segment, net sales were $142.78 million, down 16.6% year-over-year, and operating profit was $161.33 million, down 36%.
“Regarding the business environment surrounding our group and financial results during this fiscal year, overcoming the effect of semiconductor shortage led to increase in production and sales of automobiles and improvement in sales mix/price from FY2022. Furthermore, setting appropriate automobile sales prices in line with costs, the foreign exchange impact and the stabilization of raw material prices in India led both sales and all state of profits to record highs,” the company said in a statement.
In Japan, net sales and profit increased, mainly owing to increases in sales units, improvement in the sales mix/price and the impact of exchange rates. In Europe, net sales and profit increased thanks to an increase in sales units. In Asia, net sales and profit increased due to improvements in the sales mix/price, stabilization in materials prices and cost reductions in India. In other areas, net sales and profit decreased mainly because of the decrease of sales of outboards in North America.
