Suzuki Motor Corporation Reports FY2025 Consolidated Results: Revenue Up 8.0%, Profit Attributable to Owners Rises 5.6%
Suzuki Motor Corporation reported FY2025 consolidated revenue of ¥6,293.0 billion, up 8.0% YoY, with profit attributable to owners rising 5.6% to ¥439.3 billion, even as operating profit declined 3.1% to ¥622.9 billion. India remained a key market, with automobile production rising 11.7% to 2,347 thousand units and consolidated automobile revenue from India growing 9.3% to ¥2,516.2 billion. The company's cash balance strengthened to ¥973.3 billion at year-end. For FY2026, Suzuki forecasts revenue of ¥6,800.0 billion (+8.1%) but projects a decline in operating and net profit, with India's automobile sales expected to grow approximately 10%.

*this image is generated using AI for illustrative purposes only.
Maruti Suzuki India Limited filed a reference to the consolidated financial results of its parent, Suzuki Motor Corporation, with the National Stock Exchange of India Limited and BSE Limited on 14 May 2026. The results, prepared under IFRS, cover both the fourth quarter (January–March) and the full fiscal year FY2025 (April 2025–March 2026), providing a comprehensive view of Suzuki Motor Corporation's global financial performance across its automobile, motorcycle, marine, and other business segments.
FY2025 Full-Year Consolidated Financial Highlights
Suzuki Motor Corporation delivered consolidated revenue of ¥6,293.0 billion in FY2025, marking an increase of ¥467.8 billion or 8.0% compared to FY2024. Domestic revenue grew 7.2% to ¥1,598.0 billion, while overseas revenue rose 8.3% to ¥4,695.0 billion. However, operating profit declined 3.1% to ¥622.9 billion, with the operating margin contracting to 9.9% from 11.0% in FY2024. Profit before tax was nearly flat at ¥730.7 billion (+0.1% YoY), and profit attributable to owners of the parent increased 5.6% to ¥439.3 billion.
The following table summarises the key consolidated financial metrics for FY2025 versus FY2024:
| Metric: | FY2024 | FY2025 | YoY Change | YoY Ratio |
|---|---|---|---|---|
| Revenue: | ¥5,825.2 bn | ¥6,293.0 bn | +¥467.8 bn | +8.0% |
| Domestic Revenue: | ¥1,491.0 bn | ¥1,598.0 bn | +¥107.0 bn | +7.2% |
| Overseas Revenue: | ¥4,334.2 bn | ¥4,695.0 bn | +¥360.8 bn | +8.3% |
| Operating Profit (Margin): | ¥642.9 bn (11.0%) | ¥622.9 bn (9.9%) | -¥19.9 bn | -3.1% |
| Profit Before Tax (Margin): | ¥730.2 bn (12.5%) | ¥730.7 bn (11.6%) | +¥0.5 bn | +0.1% |
| Profit Attributable to Owners (Margin): | ¥416.1 bn (7.1%) | ¥439.3 bn (7.0%) | +¥23.2 bn | +5.6% |
Fourth Quarter (January–March) Performance
In the fourth quarter of FY2025, Suzuki Motor Corporation reported strong growth across key financial metrics. Revenue rose 15.2% YoY to ¥1,776.3 billion, operating profit increased 18.8% to ¥193.8 billion (margin: 10.9%), and profit attributable to owners surged 27.3% to ¥132.9 billion (margin: 7.5%).
| Metric: | 4Q FY2024 | 4Q FY2025 | YoY Change | YoY Ratio |
|---|---|---|---|---|
| Revenue: | ¥1,541.4 bn | ¥1,776.3 bn | +¥234.9 bn | +15.2% |
| Operating Profit (Margin): | ¥163.1 bn (10.6%) | ¥193.8 bn (10.9%) | +¥30.7 bn | +18.8% |
| Profit Before Tax (Margin): | ¥182.2 bn (11.8%) | ¥209.9 bn (11.8%) | +¥27.7 bn | +15.2% |
| Profit Attributable to Owners (Margin): | ¥104.3 bn (6.8%) | ¥132.9 bn (7.5%) | +¥28.5 bn | +27.3% |
Factors Affecting Operating Profit
For FY2025, the change in operating profit was shaped by a combination of external and internal factors. Raw material price increases were the largest drag, reducing operating profit by ¥85.0 billion, while foreign exchange rate effects provided a partial offset of +¥6.4 billion. On the internal side, volume growth contributed +¥57.4 billion, changes in mix and pricing added +¥52.2 billion, and cost reduction efforts contributed +¥43.6 billion. These were partially offset by increases in fixed costs (-¥42.7 billion), R&D expenses (-¥30.1 billion), and depreciation (-¥21.6 billion).
Key operating cost and investment metrics for FY2025 were as follows:
| Metric: | FY2024 | FY2025 | Change |
|---|---|---|---|
| Capital Expenditures: | ¥361.8 bn | ¥350.7 bn | -¥11.2 bn |
| Depreciation Expenses: | ¥196.1 bn | ¥217.7 bn | +¥21.6 bn |
| R&D Expenses (P/L Basis): | ¥241.0 bn | ¥271.1 bn | +¥30.1 bn |
| R&D Expenses (Cash Out Basis): | ¥265.6 bn | ¥270.4 bn | +¥4.9 bn |
Segment and Geographic Performance
The Automobile segment remained the dominant contributor, with FY2025 revenue of ¥5,706.4 billion (+7.6% YoY), though operating profit declined 3.5% to ¥547.6 billion (margin: 9.6%). The Motorcycle segment delivered revenue of ¥454.5 billion (+14.2% YoY) and operating profit of ¥44.8 billion (+9.7% YoY). The Marine segment reported revenue of ¥119.5 billion (+8.9% YoY), while operating profit fell 13.0% to ¥26.6 billion.
Geographically, the Asia region was the largest contributor to revenue at ¥3,709.7 billion (+13.4% YoY), followed by Japan at ¥3,249.5 billion (+11.9% YoY). Europe saw a revenue decline of 8.0% to ¥735.0 billion, while the Other regions segment grew 7.6% to ¥491.9 billion.
| Geographic Region: | FY2024 Revenue | FY2025 Revenue | YoY Change | Operating Profit FY2025 (Margin) |
|---|---|---|---|---|
| Japan: | ¥2,904.4 bn | ¥3,249.5 bn | +11.9% | ¥302.7 bn (9.3%) |
| Europe: | ¥799.3 bn | ¥735.0 bn | -8.0% | ¥18.1 bn (2.5%) |
| Asia: | ¥3,271.1 bn | ¥3,709.7 bn | +13.4% | ¥292.4 bn (7.9%) |
| Other: | ¥457.2 bn | ¥491.9 bn | +7.6% | ¥20.4 bn (4.2%) |
India Operations: Production and Sales
India continued to be a significant production and sales market for Suzuki Motor Corporation. Automobile production in India reached 2,347 thousand units in FY2025, an increase of 245 thousand units or 11.7% YoY. Automobile sales in India rose 3.7% to 1,862 thousand units. In the motorcycle segment, production in India grew 16.6% to 1,318 thousand units, while motorcycle sales in India increased 14.7% to 1,202 thousand units.
In terms of consolidated revenue, India's automobile segment contributed ¥2,516.2 billion in FY2025, up ¥214.7 billion or 9.3% YoY, from ¥2,301.5 billion in FY2024.
Cash Flow and Balance Sheet
Suzuki Motor Corporation generated operating cash flows of ¥717.5 billion in FY2025, up ¥47.8 billion YoY. Investing activities resulted in an outflow of ¥499.5 billion, while financing activities recorded an outflow of ¥127.3 billion. The cash balance at the end of FY2025 stood at ¥973.3 billion, compared to ¥842.7 billion at the end of FY2024, an increase of ¥130.6 billion.
FY2026 Outlook and Dividend
For FY2026, Suzuki Motor Corporation has forecast consolidated revenue of ¥6,800.0 billion (+8.1% YoY), driven by overseas revenue growth of 10.5% to ¥5,190.0 billion. However, operating profit is projected to decline 8.5% to ¥570.0 billion (margin: 8.4%), and profit attributable to owners is forecast at ¥380.0 billion (-13.5% YoY). India's automobile sales are expected to grow approximately 10% in FY2026.
| FY2026 Forecast Metric: | FY2025 Results | FY2026 Forecast | YoY Change | YoY Ratio |
|---|---|---|---|---|
| Revenue: | ¥6,293.0 bn | ¥6,800.0 bn | +¥507.0 bn | +8.1% |
| Operating Profit (Margin): | ¥622.9 bn (9.9%) | ¥570.0 bn (8.4%) | -¥52.9 bn | -8.5% |
| Profit Before Tax (Margin): | ¥730.7 bn (11.6%) | ¥660.0 bn (9.7%) | -¥70.7 bn | -9.7% |
| Profit Attributable to Owners (Margin): | ¥439.3 bn (7.0%) | ¥380.0 bn (5.6%) | -¥59.3 bn | -13.5% |
On the non-consolidated basis, Suzuki Motor Corporation has planned a full-year dividend of 46 yen per share for FY2025 (interim: 22 yen, year-end: 24 yen), compared to 41.00 yen per share in FY2024. The FY2026 annual dividend is forecast at 51 yen per share.
Historical Stock Returns for Maruti Suzuki
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.14% | -4.64% | +0.07% | -16.92% | +4.83% | +94.24% |
How might escalating raw material costs and the projected 8.5% decline in operating profit for FY2026 impact Maruti Suzuki India's pricing strategy and market share in the domestic passenger vehicle segment?
With India's automobile sales expected to grow ~10% in FY2026, which vehicle segments or price bands is Maruti Suzuki likely to target to sustain its leadership amid intensifying competition from Korean and Chinese automakers?
Given Suzuki's rising R&D expenditure and the global push toward electrification, what timeline and investment scale can investors expect for Maruti Suzuki's EV product rollout in India?

































