Summary of Consolidated Financial Results for the 2nd Quarter of Fiscal Year Ending February 28, 2019 (Updated October 12, 2018)
◆IDOM- The number of retail cars sold decreased
The number of retail cars sold at directly managed stores decreased by 3.0% year on year to 61,123. Changes in pricing structure and sales strategy resulted in lower per store retail units and per unit gross profits. As a result, operating profits declined year on year.
◆IDOM- SG&A expenses
Selling, general and administrative expenses increased accompanying an increase in the number of stores. The advertising expenditures for purchasing business declined year on year.
◆Western Australian subsidiary
While the Western Australian new car market is bottoming out but remains sluggish, consolidated subsidiary Buick Holdings (DVG) showed improved results attributable to the increase in sales.