suzuki motor corp-uns adr (SZKMY) Snapshot

Suzuki Motor Corporation reported consolidated earnings results for the year ended March 31, 2013. For the year, the company reported that the consolidated net sales increased by ¥66.1 billion to ¥2,578.3 billion year-on-year. Operating income increased by ¥25.3 billion (21.2%) to ¥144.6 billion year-on-year, and the ordinary income increased by ¥25.0 billion (19.2%) to ¥155.6 billion year-on-year. The Group was able to increase the operating income by covering the factors of income decrease such as the sales decrease in Europe and the impact of the exchange rate, with the factors of income increase such as the increase of automobile sales in Japan and Asia, and cost reduction. Net income increased by ¥26.5 billion (49.2%) to ¥80.4 billion year-on-year. The company provided consolidated earnings guidance for the fiscal year 2013. For the year, the company expects net income of ¥90 billion, ordinary income of ¥165 billion, operating income of ¥150 billion on net sales of ¥2,800 billion. The year-end dividends is scheduled to be up by ¥2.00 per share from the previous forecasts to ¥10.00 per share compared to previous year-end dividends of ¥8.00 per share. As a result, the annual dividends will be ¥18.00 per share, up by ¥3.00 per share from the previous fiscal year.

Suzuki Motor Corporation announced that they will report fiscal year 2013 results on May 09, 2013

The California Air Resources Board announced that American Suzuki Motor Corporation and Suzuki Motor Corporation have agreed to a settlement of $3,020,000 to resolve violations of the California Health and Safety Code related to off-highway motorcycles equipped with dual calibrated emissions systems. Dual calibrations within the emission control system allow motorcycle owners to purchase low-cost aftermarket devices that provide access to alternative engine control programming. This allows greater vehicle performance but also significantly increases smog-forming emissions. Such systems are prohibited by California law if they are undisclosed to ARB prior to the vehicles approval for sale and if they are easily accessible by the vehicle owner. Suzuki officials initially reported this issue to the ARB and fully cooperated with authorities to resolve the matter. This action saved limited state resources and resulted in a swifter and more complete elimination of excess emissions. As a result, this agreement provides for suspension of $1,812,000 of the total penalty provided that Suzuki does not produce vehicles with undisclosed calibrations for a period of two years and completes two vehicle emission reduction programs designed to offset the additional pollution of the dual calibrated vehicles.