Assets: Overseas sales Millions Millions Millions Thousands of of yen of yen of yen U.S. dollars 2003 2002 2001 2003 Assets: Japan ¥1,020,224 ¥1,031,129 ¥ 963,528 $ 8,487,720 North America 373,125 282,230 244,201 3,104,201 Other 1,141 1,220 1,281 9,493 Total 1,394,490 1,314,579 1,209,010 11,601,414 Corporate and elimination (50,418) (45,021) (40,509) (419,451) Consolidated total ¥1,344,072 ¥1,269,558 ¥1,168,501 $11,181,963 Millions Millions Millions Thousands of of yen of yen of yen U.S. dollars 2003 2002 2001 2003 Overseas sales: North America ¥ 622,783 45.4% ¥ 607,630 44.6% ¥ 491,068 37.4% $ 5,181,223 Europe 72,841 5.3 56,820 4.2 66,463 5.1 605,998 Other 77,453 5.6 66,778 4.9 66,160 5.0 644,368 Total ¥ 773,077 56.3 ¥ 731,228 53.7% ¥ 623,691 47.5% $ 6,431,589 Consolidated net sales ¥1,372,337 100.0% ¥1,362,493 100.0% ¥1,311,887 100.0% $11,417,113 Annual Report 2003 55 Overseas sales for the years ended March 31, 2003, 2002 and 2001 are summarized as follows: 2. Principal countries or districts in each geographic area: 3. Overseas sales are sales outside of Japan by the Company and consolidated subsidiaries. 2. Principal countries or districts in each geographic area: 3. All operating costs and expense are allocated to each segment. 4. All figures in corporate and elimination represent elimination. 5. Change of accounting policy Previously, severance and retirement benefits for directors were recorded as expense when paid. However, for the purpose of more accurately matching them with the period in which they arise, an accrual method of recording such expenses has been employed beginning from the current year. The impact of such change on statements of income has not been significant. 6. As stated in “3. Acquisition of Isuzu’s Share of Subaru of Indiana Automotive, Inc.,” the Company acquired Isuzu’s share of SIA and started to consolidate Consignment Division of SIA which had been formerly excluded from the consolidated financial statements of the Company. As a result, assets have increased by ¥61,155 million (US$508,777 thousand) in the North America segment. (Fiscal 2001) None. (Fiscal 2003) None.  (Fiscal 2002) Accrued directors’ severance and retirement benefits. North America: United States and Canada Europe: Germany, Switzerland and England Other: Australia and Chile North America: United States and Canada Other: Europe Notes: 1. Geographic areas are based on geographical proximity. Notes: 1. Geographic areas are based on geographical proximity.