Overview
Transportation Equipment

ISUZU MOTORS LIMITED

Isuzu Motors is a leading manufacturer and seller of commercial vehicles (CV) and light commercial vehicles (LCV), including heavy-duty trucks, buses, pickup trucks, and industrial diesel engines, with operations spanning Japan and key global markets. The company operates an integrated manufacturing and sales model, combining domestic production with local assembly through overseas group companies, and distributes products via its own sales network as well as partnerships with General Motors Group and trading companies. Isuzu also provides related services including logistics, leasing, and fleet telematics solutions such as its proprietary 'MIMAMORI' connected vehicle platform.

Market Cap
¥1,452B
US$9.26B
EV
¥2,076B
US$13.2B
Stock¥2,113.5▲+0.67%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.5
x
LTM EV/EBIT
8.6
x
LTM PER
10.1
x
LTM PBR
1.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-12.6%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
1,452BUS$9.26BMarket Cap1,011BUS$6.45B+ Debt391BUS$2.49B− Cash169BUS$1.08B− Inv. Sec.173BUS$1.10B+ NCI2,076BUS$13.2BEV
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Performance & Balance
Revenue 5Y (¥B)
2,514US$16.0B'22/33,196US$20.4B'23/33,387US$21.6B'24/33,236US$20.6B'25/33,479US$22.2B'26/3
EBITDA 5Y (¥B)
286US$1.82B'22/3361US$2.30B'23/3442US$2.82B'24/3381US$2.43B'25/3356US$2.27B'26/3
Net Income 5Y (¥B)
126US$805M'22/3152US$968M'23/3176US$1.13B'24/3140US$893M'25/3135US$860M'26/3
Capital Structure
60%
40%
EquityD/E 0.67xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
606US$3.86B530US$3.38B'22/3602US$3.84B513US$3.27B'23/3651US$4.15B627US$4.00B'24/3359US$2.29B759US$4.84B'25/3376US$2.40B857US$5.47B'26/3
Shareholders
Top 10 hold 52.1%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
13.36%
2
Mitsubishi Corporation
9.24%
3
Itochu Automobile Investment LLC
7.69%
4
Custody Bank of Japan, Ltd. (Trust Account)
7.03%
5
TOYOTA MOTOR CORPORATION
5.66%
6
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
2.45%
7
JPMorgan Securities Japan Co., Ltd.
2.15%
8
Nomura Trust and Banking Co., Ltd. (Investment Trust Account)
1.59%
9
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
1.45%
10
National Mutual Insurance Federation of Agricultural Cooperatives (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
1.45%
Management
14 officers
Masanori KATAYAMA
Director, Chairman
Apr 1978 Joined Isuzu Jun 2007 Director, Isuzu Apr 2014 Director, Executive Vice President, Isuzu Jun 2015 Representative Director, President, Isuzu Apr 2023 Representative Director, Chairman, CEO, Isuzu Jan 2024 Chairman, Japan Automobile Manufacturers Association, Inc. (retired Dec 2025) Apr 2026 Director, Chairman, Isuzu (current)
1954-05-16
Masahiro YAMAGUCHI
Representative Director, President, CEO
Apr 1986 Joined Isuzu Jun 2022 Director, Isuzu; Acting Head of Sales Division, in charge of Sales Planning, Trade Control, Overseas Product Policy, Body and Special Vehicle Planning, and Sales Management departments; Head of LCV Business, Development Division, Technical Headquarters (Chief Engineer); General Manager, LCV Business Apr 2023 Director, Group CFO, EVP Management Operations, EVP Planning & Finance; in charge of General Affairs and External Affairs Apr 2024 Director, CSO, Group CFO, EVP Management Operations, EVP Planning & Finance; SVP External Affairs Apr 2025 Director, CSO, EVP Management Operations, EVP Planning & Finance, EVP Systems Apr 2026 Representative Director, President, CEO (current)
1962-12-08
Shinichi TAKAHASHI
Director, Vice President, CHRO
Apr 1980 Joined Isuzu Jun 2017 Director, General Manager, Development Division, Technical Headquarters, Isuzu Apr 2020 Director, responsible for Quality Assurance; General Manager, Development Division, Technical Headquarters Apr 2021 Director, Vice President, Head of Technical Headquarters; responsible for Quality Assurance and Product Technology Strategy Apr 2023 Director, Vice President, Isuzu Apr 2024 Director, Vice President, CMzO, Isuzu Apr 2026 Director, Vice President, CHRO (current)
1958-01-28
Shun FUJIMORI
Director, CTO, EVP Product Technology Strategy Division
Apr 1984 Joined Isuzu Oct 2018 Executive Officer, Assistant to Planning & Finance Division Head; General Manager, Program Management Department Apr 2019 Executive Officer, Assistant to Planning & Finance Division Head Apr 2020 Managing Executive Officer, Product Strategy Division Head; Acting Head of Development Division, Technical Headquarters Apr 2021 Managing Executive Officer, Product Technology Strategy Division Head; Acting Head of Development Division, Technical Headquarters Jun 2021 Director, Product Technology Strategy Division Head; Acting Head of Development Division, Technical Headquarters Apr 2023 Director, EVP Product Technology Strategy Division; EVP CV Alliance Promotion Department Apr 2026 Director, CTO, EVP Product Technology Strategy Division (current)
1960-06-30
Mitsuyoshi SHIBATA
Outside Director
Apr 1977 Joined Furukawa Electric Co., Ltd. Apr 2012 Representative Director, President, Furukawa Electric Co., Ltd. Apr 2017 Director, Chairman, Furukawa Electric Co., Ltd. Jun 2018 Outside Director, Tobu Railway Co., Ltd. (scheduled to retire Jun 2026) Outside Director, Isuzu (current) Jul 2018 Outside Auditor, Asahi Mutual Life Insurance Company (current) Jun 2023 Special Adviser, Furukawa Electric Co., Ltd. (current)
1953-11-05
Machiko MIYAI
Outside Director
Apr 1983 Joined Matsushita Electric Industrial Co., Ltd. (now Panasonic Holdings Corporation) Apr 2011 Executive, General Manager, Environment Division, Matsushita Electric Industrial Co., Ltd. Apr 2012 Executive, in charge of Future Living Research, R&D Division, Matsushita Electric Industrial Co., Ltd. (retired Mar 2014) Jun 2014 Outside Director, Morinaga & Co., Ltd. Dec 2014 Outside Director, Kato Sangyo Co., Ltd. (retired Dec 2018) May 2015 Outside Director, Yoshinoya Holdings Co., Ltd. (retired May 2019) Jun 2018 Director, Managing Executive Officer, Morinaga & Co., Ltd. Feb 2019 Chairman, NPO Sustainability Japan Forum (current) Apr 2022 Part-time Auditor, Ochanomizu University Jun 2022 Outside Director, Sekisui Chemical Co., Ltd. (current) Apr 2024 Director, Morinaga & Co., Ltd. (retired Jun 2024) Jun 2024 Outside Director, Isuzu (current) Sep 2024 Full-time Auditor, Ochanomizu University (current)
1960-09-29
Tetsuya NAKANO
Outside Director
Apr 1986 Joined Ajinomoto Co., Inc. Jul 2012 Managing Director, Corporate, Ajinomoto (Thailand) Co., Ltd. Jun 2015 President, Ajinomoto Philippines Corporation Jun 2017 Executive Officer, General Manager, Finance & Accounting, Ajinomoto Co., Inc. Jun 2019 Managing Executive Officer, Ajinomoto Co., Inc. Jun 2021 Executive Officer, Finance & IR, Ajinomoto Co., Inc. Apr 2023 Adviser, Ajinomoto Co., Inc. (retired Mar 2025) Jun 2024 Outside Director, Isuzu (current) Jun 2025 Outside Director, Kyosan Electric Mfg. Co., Ltd. (current)
1963-06-12
Noboru MURAKAMI
Director
Apr 1995 Joined Isuzu Apr 2018 Director, President & CEO, Isuzu North America Corporation Apr 2020 General Manager, Overseas Sales Division No. 3, Isuzu May 2022 President, Isuzu Philippines Corporation Jan 2023 Director, President & CEO, Isuzu North America Corporation Apr 2025 Executive Officer, SVP, General Manager, North America Business Project, Isuzu; Director, Chairman & CEO, Isuzu North America Corporation Apr 2026 Managing Executive Officer, CSO (Chief Strategy Officer), CDXO (Chief Digital Transformation Officer), EVP Corporate Division, Isuzu (current)
Fumiya YAMAKITA
Director
Apr 1996 Joined Isuzu Apr 2022 Responsible for Management Planning, Accounting and Financial Management departments; General Manager, Management Planning Department, Isuzu Apr 2023 VP, Planning & Finance Division, Isuzu Apr 2024 VP, Planning & Finance Division; General Manager, Management Planning Department, Isuzu Apr 2025 Executive Officer, CFO, VP, Planning & Finance Division, Isuzu Apr 2026 Managing Executive Officer, CFO, SVP Corporate Division, Isuzu (current)
Hirotomo ABE
Outside Director, Audit and Supervisory Committee Member
Apr 1980 Joined Mitsui & Co., Ltd. Apr 2002 General Manager, Overseas Legal Section 1, Legal Department, Mitsui & Co., Ltd. Oct 2002 Seconded to Mitsui & Co. (Europe) plc, London Legal Department May 2005 General Counsel & Chief Compliance Officer, Europe, Africa & Middle East Division, Mitsui & Co., Ltd. (retired Mar 2009) Apr 2009 Professor, Faculty of Law, Meiji Gakuin University (retired Mar 2011) Apr 2011 Professor, Graduate School of Law, Hitotsubashi University Jun 2019 Outside Director, Audit and Supervisory Committee Member, Casio Computer Co., Ltd. (current) Apr 2021 Professor Emeritus, Hitotsubashi University (current) Apr 2021 Professor, Graduate School of Business, Nagoya University of Commerce and Business (current) Mar 2022 Outside Director, Outsourcing Inc. (now BREXA Holdings Inc.) (retired Mar 2026) Jun 2025 Outside Director, Audit and Supervisory Committee Member, Isuzu (current)
1957-11-01
Masao WATANABE
Director, Full-time Audit and Supervisory Committee Member
Apr 1983 Joined Isuzu Apr 2008 General Manager, General Affairs & Human Resources Department, Isuzu Apr 2013 Vice President, Thai Isuzu Motors Co., Ltd. Apr 2019 Responsible for Audit Department, Isuzu Jun 2023 Director, Full-time Audit and Supervisory Committee Member, Isuzu (current)
1961-03-09
Masato KAWANAMI
Director, Full-time Audit and Supervisory Committee Member
Apr 1983 Joined Isuzu Jan 2006 Vice Chairman, Taiwan Isuzu Motor Co., Ltd. Apr 2008 General Manager, Overseas Sales Department No. 7, Isuzu Apr 2015 Assistant, Sales Division No. 1, Isuzu Apr 2016 Responsible for Sales Management, Sales Promotion, and Product & Body Policy departments, Isuzu Apr 2017 Responsible for Audit Department, Isuzu Apr 2019 President & Representative Director, Isuzu Motors Tohoku Co., Ltd. Apr 2024 Chairman & Representative Director, Isuzu Motors Tohoku Co., Ltd. (retired Mar 2025) Jun 2025 Director, Full-time Audit and Supervisory Committee Member, Isuzu (current)
1960-09-30
Kimie SAKURAGI
Outside Director, Audit and Supervisory Committee Member
Mar 1981 Joined Fukutake Shoten Co., Ltd. (now Benesse Holdings, Inc.) Jun 2003 Full-time Corporate Auditor, Benesse Holdings, Inc. (retired Jun 2019) Apr 2007 Specially Appointed Professor, Graduate School, University of Aizu (current) Jun 2019 Outside Director, Toyobo Co., Ltd. (retired Jun 2025) Jun 2021 Outside Director, Kumagai Gumi Co., Ltd. (scheduled to retire Jun 2026) Jun 2021 Outside Director, Audit and Supervisory Committee Member, Isuzu (current)
1958-09-06
Yumiko HOSOI
Outside Director, Audit and Supervisory Committee Member
Oct 1993 Joined Asahi Audit Corporation (now Ernst & Young ShinNihon LLC) Apr 1997 Registered Certified Public Accountant in Japan (current) Jul 2010 Partner, Ernst & Young ShinNihon LLC (retired Jun 2025) Jun 2025 Outside Director, Audit and Supervisory Committee Member, Isuzu (current) Mar 2026 Outside Director, KITZ Corporation (current)
1967-01-01
Large Shareholding Reports
Nomura Asset Management Co., Ltd.
2026-09-25
5.84%→6.48%
Itochu Automobile Investment LLC
2026-08-27
6.24%→7.69%
Annual report (as of 2026-03-31): 7.69%
Amova Asset Management Co., Ltd.
2026-02-05
2.87%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2025-09-19
2.61%→2.46%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-25
Large Shareholding Report
EDINET
2026-08-27
Large Shareholding Report
TDnet
2026-08-03
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-06-01
株主総会招集通知
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2026-02-05
Large Shareholding Report
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-07
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-12
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-07
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-26
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-04-03
中期経営計画
ISUZU Transformation - Growth to 2030
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-28
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-06-28
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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