financial results for fy2008 - hino global · financial results for fy2008 2. ... as part of our...

1

Financial Results for FY2008Financial Results for FY2008 (Fiscal Year Ended March 31, 2008)(Fiscal Year Ended March 31, 2008)

April 24, 2008April 24, 2008

Hino Motors, Ltd.Hino Motors, Ltd.

2

This document contains statements on the outlook for Hino (including consolidated subsidiaries) and its future goals, plans and strategies. These statements are based on judgments and hypotheses made using information currently in the possession of Hino, and, in light of the possibility of change due to future business operations and circumstances inside or outside the company, and uncertainties in these judgments and hypotheses, may greatly differ to the actual future financial results and growth of Hino.

Notes concerning Insider Trading: Investors who have received important and undisclosed information from a company (primary recipients of information) are forbidden from the purchase or sale of shares prior to the disclosure of the said information. (Financial Instruments and Exchange Act Article 166) According to enforcement ordinances of the Financial Instruments and Exchange Act, disclosure is viewed as having taken place 12 hours after announcement by the company through two or more media institutions, or when notification has been made to the securities exchange, and through electromagnetic means recognized by Cabinet Office regulations (using appropriately-timed information disclosure viewing services on TDnet or the ED-NET disclosure Internet site).

Cautionary Statement Regarding Forward-looking Statements / Caution Concerning Insider Trading

Cautionary Statement Regarding ForwardCautionary Statement Regarding Forward--looking Statements / looking Statements / Caution Concerning Insider TradingCaution Concerning Insider Trading

3

PresidentPresident

Shoji KondoShoji Kondo

4

Agenda ItemsAgenda ItemsAgenda Items

1. Financial Results for FY2008

2. Sales Turnover (FY2008 Results / FY2009 Plan)

3. Business Goals

4. Initiatives in FY2008

5. Initiatives for FY2009

6. Business Goals for FY2009

1. Financial Results for FY20081. Financial Results for FY2008

2. Sales Turnover 2. Sales Turnover (FY2008 Results / FY2009 Plan)(FY2008 Results / FY2009 Plan)

3. Business Goals3. Business Goals

4. Initiatives in FY20084. Initiatives in FY2008

5. Initiatives for FY20095. Initiatives for FY2009

6. Business Goals for FY20096. Business Goals for FY2009

5

1. Financial Results for FY20081. Financial Results for FY20081. Financial Results for FY2008

6


Unit Sales / Sales / Income (Consolidated)Unit Sales / Sales / Income (Consolidated)Unit Sales / Sales / Income (Consolidated)

Unit Sales FY2008 (’07/4 - ’08/3) Results (YoY Change) FY2007 (’06/4 – ’07/3) Results

In Japan 46,000 (87%) 53,000

Overseas 63,000 (133%) 48,000

Hino Total 109,000 (109%) 100,000

Toyota Brand 201,000 (99%) 203,000

Record HighRecord High


(Units)(Units)

7

Unit Sales / Sales / Income (Consolidated) Unit Sales / Sales / Income (Consolidated) Unit Sales / Sales / Income (Consolidated)

FY2008 (’07/4 - ’08/3) Results (YoY Change) FY2007 (’06/4 – ’07/3) Results

Net Sales ¥¥ 1,368.6 billion 1,368.6 billion (106%)(106%) ¥¥ 1,287.6 billion1,287.6 billion

Operating Income ¥¥ 45.9 billion 45.9 billion (125%)(125%) ¥¥ 36.7 billion36.7 billion

Ordinary Income ¥¥ 41.0 billion 41.0 billion (111%)(111%) ¥¥ 36.8 billion36.8 billion

Net Income ¥¥ 22.2 billion 22.2 billion (111%)(111%) ¥¥ 20.0 billion20.0 billion

Operating Income Margin 3.4%3.4% 2.9%2.9%




8

2. Sales Turnover (FY2008 Results / FY2009 Plan) 2. Sales Turnover 2. Sales Turnover (FY2008 Results / FY2009 Plan)(FY2008 Results / FY2009 Plan)

9

3855 49 56 58 49 48

41

6250 50 48

36 32

95

147

114 117 121

90 90

11

14

1213 12

11 10

0

50

100

150

200

250

300

350

FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009Forecast

Buses

Light-dutyTrucks

Medium-dutyTrucks

Heavy-dutyTrucks

185

278

226 235 238

180186

Japanese Sales (Market)Japanese Sales (Market)Japanese Sales (Market)

(Thousands of units)

HeavyHeavy--/Medium/Medium--/Light/Light--duty Trucks & Buses (Market)duty Trucks & Buses (Market)

(Japanese market)FY2008 (’07/4 – ’08/3) : Year-on-year drop of 22%FY2009 (’08/4 – ’09/3) : Flat to FY2008

(Japanese market)(Japanese market)FY2008 (FY2008 (’’07/4 07/4 –– ’’08/3) : Year08/3) : Year--onon--year drop of 22%year drop of 22%FY2009 (FY2009 (’’08/4 08/4 –– ’’09/3) : Flat to FY200809/3) : Flat to FY2008

2. Sales Turnover (FY2008 Results / FY2009 Plan)2. Sales Turnover (FY2008 Results / FY2009 Plan)

10

34.8

51.2 50.5 55.7 52.645.7 44.8

10.7 15.5 16.1 18.3 17.6 14.8 15.1

12.0

18.2 15.9 16.3 15.212.8 11.3

10.1

14.7 15.517.8 16.7

14.9 15.32.1

2.8 3.13.3

3.2

3.2 3.1

0

10

20

30

40

50

60

FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 Plan

Buses

Light-dutyTrucks

Medium-duty Trucks

Heavy-dutyTrucks

Japanese Sales (Hino Market Share)Japanese Sales (Hino Market Share)Japanese Sales (Hino Market Share)


HeavyHeavy--/Medium/Medium--/Light/Light--duty Trucks / Buses (Share and Registered Numbers)duty Trucks / Buses (Share and Registered Numbers)32.8% 31.1%

18.3%20.1%

25.5% 25.4% 26.4%

10.6% 10.0%13.5%

15.2%

32.1%28.7%28.8%

32.4% 33.0%29.9%

30.0%

17.0%16.6%13.8%

10%

20%

30%


Heavy- /Med-duty Trucks

Buses

Light-dutyTrucks

( Japanese sales )FY2008 (’07/4 – ’08/3) : Year-on-year net demand drops 22%, but sales drop and hold at 13%FY2009 (’08/4 – ’09/3) : Maintains similar number of unit sales to FY2008

( Japanese sales )( Japanese sales )FY2008 (FY2008 (’’07/4 07/4 –– ’’08/3) : Year08/3) : Year--onon--year net demand drops 22%, but sales drop and hold at 13%year net demand drops 22%, but sales drop and hold at 13%FY2009 (FY2009 (’’08/4 08/4 –– ’’09/3) : Maintains similar number of unit sales to FY2008 09/3) : Maintains similar number of unit sales to FY2008


11

18.026.1

34.0 29.6 27.6

39.2

3.1

3.96.0 8.2

6.7

2.8

3.5 4.2

8.5

1.5

2.1

1.8 2.6 3.3

4.14.9

472.8

6

2.7

11

5.6

7

6

2.92.20.6

0.9

0.7

0

10

20

30

40

50

60

70

80


Middle East

Europe/Africa

Central andSouthAmerica

N.America

Asia/Oceania

43.8

77

35.0

47.6

63.3

25.6

44.8

Overseas Sales (Local Unit Sales Basis)Overseas Sales (Local Unit Sales Basis)Overseas Sales (Local Unit Sales Basis)

(Thousands of units) Overseas unit salesOverseas unit sales

( Overseas sales ) FY2008 (’07/4 – ’08/3) : Set new high of 63,000 (33% year-on-year rise) FY2009 (’08/4 – ’09/3) : Year-on-year increase of 14,000 (rise of 22%)

( Overseas sales ) ( Overseas sales ) FY2008 (FY2008 (’’07/4 07/4 –– ’’08/3) : Set new high of 63,000 (33% year08/3) : Set new high of 63,000 (33% year--onon--year rise) year rise) FY2009 (FY2009 (’’08/4 08/4 –– ’’09/3) : Year09/3) : Year--onon--year increase of 14,000 (rise of 22%)year increase of 14,000 (rise of 22%)


12

6358

48454641

0

10

20

30

40

50

60

70

80

90

100

FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 Plan

Hino Brand Vehicles – Percentage of Overseas Unit SalesHino Brand Vehicles Hino Brand Vehicles –– Percentage of Overseas Unit SalesPercentage of Overseas Unit Sales

(%)

Composition of sales for overseas increased (became majority in FY2008)

Composition of sales for overseas increased Composition of sales for overseas increased (became majority in FY2008)(became majority in FY2008)


13

14.7 15.517.8 16.7 14.9 15.3

7.89.9

9.2 9.5 14.5

19.9

0

10

20

30

40

FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 Plan


Unit sales of light-duty trucks increase in Japan and overseasUnit sales of lightUnit sales of light--duty trucks increase in Japan and overseasduty trucks increase in Japan and overseas

OverseasOverseas

Hino Brand Vehicles – Unit Sales of Light-duty TrucksHino Brand Vehicles Hino Brand Vehicles –– Unit Sales of LightUnit Sales of Light--duty Trucksduty Trucks

JapanJapan

22.522.5

35.235.2

29.429.4

26.226.227.027.025.425.4


14

191.7

222.7

248.0

203.1 200.9

217.6

188.8

0

50

100

150

200

250


Toyota Brand Vehicles (Built-Up and KD Vehicles)Toyota Brand VehiclesToyota Brand Vehicles (Built(Built--Up and KD Vehicles)Up and KD Vehicles)(Thousands of units)

Number of vehicles over FY2008 – FY2009: Flattening outNumber of vehicles over FY2008 Number of vehicles over FY2008 –– FY2009: Flattening outFY2009: Flattening out

Hilux PickHilux Pick--Up Up production production

overover FJ Cruiser FJ Cruiser production production

startsstarts


15

0

200

400

600

800

1000

FY2005 FY2006 FY2007 FY2008 FY2009 Plan

Toyota Brand Vehicles (Parts)Toyota Brand Vehicles (Parts)Toyota Brand Vehicles (Parts)(Thousands of units)

FY2008: Increase due to full operation of Arkansas PlantFY2009: Flat to FY2008

FY2008: Increase due to full operation of Arkansas PlantFY2008: Increase due to full operation of Arkansas PlantFY2009: Flat to FY2008FY2009: Flat to FY2008

Supply of parts overseas (Conversion to vehicles)Supply of parts overseas (Conversion to vehicles)

182182

528528570570

864864902902

IMVIMV

TacomaTacoma

TundraTundra

SequoiaSequoia


16

3. Business Goals3. Business Goals3. Business Goals

17

““Hino as the Global StandardHino as the Global Standard””

““Raise HinoRaise Hino’’s presence from s presence from mediummedium--/heavy/heavy--duty trucks to all duty trucks to all ranges of trucksranges of trucks””(Making a social contribution through a wider range (Making a social contribution through a wider range of products, including lightof products, including light--duty trucks along with duty trucks along with heavyheavy--/medium/medium--duty trucks)duty trucks)

Hino Motors’ SlogansHino MotorsHino Motors’’ SlogansSlogans3. Business Goals3. Business Goals

18

4. Initiatives in FY20084. Initiatives in FY20084. Initiatives in FY2008

19

Environment / Fuel EconomyEnvironment / Fuel Economy•• We launched vehicles conforming to JapanWe launched vehicles conforming to Japan’’s New Longs New Long--termterm

Emission Regulations of 2005 onto the market with all possible Emission Regulations of 2005 onto the market with all possible speedspeed -- Our lineup of heavyOur lineup of heavy--/medium/medium--/light/light--duty trucks and largeduty trucks and large--/medium/medium--/small/small--sized sized

buses is now complete buses is now complete (Jul./07)(Jul./07)

•• We developed vehicles meeting the heavy vehicle fuel economyWe developed vehicles meeting the heavy vehicle fuel economystandards + launched vehicles with NOx / PM 10% reduced standards + launched vehicles with NOx / PM 10% reduced vehiclesvehicles~ 2% reduction on consumption tax ~~ 2% reduction on consumption tax ~ (until Jan./08)(until Jan./08)-- HeavyHeavy--/medium/medium--/light/light--duty trucks, mediumduty trucks, medium--/light/light--duty hybrid trucks, largeduty hybrid trucks, large--sized sized buses, largebuses, large--sized hybrid busessized hybrid buses

•• We launched the We launched the Hino ProfiaHino Profia, mounted with the light / , mounted with the light / low fuel consumption engine low fuel consumption engine ““A09CA09C”” seriesseries (Apr./07)(Apr./07)

•• We launched the We launched the ““Hino Drive Master PRO,Hino Drive Master PRO,”” a a low fuel consumption low fuel consumption IT driving support toolIT driving support tool (Apr./07)(Apr./07)

Business Initiatives in Japan (1)Business Initiatives in Japan Business Initiatives in Japan (1)(1)4. Initiatives in FY20084. Initiatives in FY2008

Hino Dutro HybridHino Dutro Hybrid

Hino SHino S’’elegaelega

Hino Drive Master PROHino Drive Master PRO

Hino Motors developed and launched environment & energyHino Motors developed and launched environment & energy--focused productsfocused products

20

We enhanced our sales performanceWe enhanced our sales performance•• The Kobe Used Vehicle Center and Service Training Center was The Kobe Used Vehicle Center and Service Training Center was

put into full operation put into full operation (Apr./07)(Apr./07)•• The The ““Hino Premium ePlanHino Premium ePlan”” for remaining value credit for remaining value credit (Oct./07)(Oct./07)•• A comprehensive business organization was established for A comprehensive business organization was established for

services / parts / used vehicles / insurance / finance and so onservices / parts / used vehicles / insurance / finance and so on

We continued to promote useful activitiesWe continued to promote useful activities•• The sales companies held The sales companies held ““Fuel Economy Driving SeminarsFuel Economy Driving Seminars””

as part of our promotional activities as part of our promotional activities (Jul./07)(Jul./07)•• More than 10,000 people have been through a course at the More than 10,000 people have been through a course at the

Customer Technical Center Customer Technical Center (Nov./07)(Nov./07)

Business Initiatives in Japan (2)Business InitiativesBusiness Initiatives in Japan (2)in Japan (2)4. Initiatives in FY20084. Initiatives in FY2008

We Moved to Expand our Total Support OperationsWe Moved to Expand our Total Support Operations

Customer Technical CenterCustomer Technical Center

Kobe Used Vehicle CenterKobe Used Vehicle Center

21

We are moving into new marketsWe are moving into new markets•• We launched a mediumWe launched a medium--duty truck into Korea using the duty truck into Korea using the

ScaniaScania dealership network dealership network (Apr./07)(Apr./07)•• We established a distributor in Mexico and launched a lightWe established a distributor in Mexico and launched a light--

duty truck there duty truck there (Aug./07)(Aug./07)•• We established a distributor in Laos We established a distributor in Laos (Aug./07)(Aug./07)•• We established a distributor in Cambodia We established a distributor in Cambodia (Nov./07)(Nov./07)

We have strengthened our dealership We have strengthened our dealership networknetwork

•• We have increased our ties to the Toyota Group dealership We have increased our ties to the Toyota Group dealership networknetwork -- We have signed new or renewed contracts with Toyota Group We have signed new or renewed contracts with Toyota Group

distributors in Algeria / Haiti and other places (18 to 21compandistributors in Algeria / Haiti and other places (18 to 21companies)ies)

•• Our UK dealership network has expanded (7 to 16 dealers)Our UK dealership network has expanded (7 to 16 dealers)

Overseas Business Initiatives (1)Overseas Business Initiatives (1)Overseas Business Initiatives (1)

Entering into the Mexican marketEntering into the Mexican market

Working to Enhance our Sales SystemWorking to Enhance our Sales System

Launching a mediumLaunching a medium--duty truck in Koreaduty truck in Korea

UK dealersUK dealers

First Japanese commercial vehicle manufacturer


22

We have invested in We have invested in ““marketmarket--approved approved vehiclesvehicles”” in order to expand sales in order to expand sales as follows: as follows:

•• LightLight--duty trucks (Chile specs to Mexico) duty trucks (Chile specs to Mexico) (Aug./07)(Aug./07)

•• LightLight--duty trucks (Portuguese specs to UK) duty trucks (Portuguese specs to UK) (Aug./07)(Aug./07)

•• LightLight--duty HV truck (Australia) duty HV truck (Australia) (May./07)(May./07)

•• LightLight--duty 6.5ton truck (Middle East) duty 6.5ton truck (Middle East) (May./07)(May./07)

•• MediumMedium--duty truck (Korea) duty truck (Korea) (Apr./07)(Apr./07)


Making Investments in MarketMaking Investments in Market--Approved VehiclesApproved Vehicles

LightLight--duty HV truckduty HV truck

Vehicles for KoreaVehicles for Korea


23

We have made progress with cost reduction We have made progress with cost reduction activitiesactivities

•• Parts VA / VEParts VA / VE

•• Reduction of logistics costsReduction of logistics costs

•• Increased parts purchasingIncreased parts purchasing

•• Reductions in development costs with Reductions in development costs with ““marketmarket--approved approved vehiclesvehicles”” (based on existing models) etc.(based on existing models) etc.

The knockdown system was expandedThe knockdown system was expanded•• A truck manufacturing company was established in ColumbiaA truck manufacturing company was established in Columbia

(Aug./07)(Aug./07)

•• Our US West Virginia Plant began operations Our US West Virginia Plant began operations (Nov./07)(Nov./07)

•• A joint venture was set up in cooperation with the Chinese A joint venture was set up in cooperation with the Chinese Guangzhou Automobile Group Guangzhou Automobile Group (Nov./07)(Nov./07)


Moves to Enhance Cost CompetitivenessMoves to Enhance Cost Competitiveness

West Virginia PlantWest Virginia Plant

Beginning of construction Beginning of construction in Columbiain Columbia

Guangzhou Automobile Group / Guangzhou Automobile Group / Hino founding ceremonyHino founding ceremony


24

In Japan, we enhanced production site In Japan, we enhanced production site capabilities for Toyota Brand frame vehiclescapabilities for Toyota Brand frame vehicles

•• We commissioned the production of 200,000 vehicles We commissioned the production of 200,000 vehicles (including loading trucks, SUVs and so on)(including loading trucks, SUVs and so on)

•• We gained an increase in quality with the completion We gained an increase in quality with the completion of a new paint shop of a new paint shop (Aug./07)(Aug./07)

Overseas, our unit supplier business Overseas, our unit supplier business increasedincreased

•• New models were introduced at the US Arkansas Plant, New models were introduced at the US Arkansas Plant, and production units with axleand production units with axle--related parts were related parts were increased increased

•• A stable operational structure is in place at this plantA stable operational structure is in place at this plant

Toyota Business Initiatives Toyota Business Initiatives Toyota Business Initiatives

Our Business Operations Expanded in Terms of both Vehicles and UOur Business Operations Expanded in Terms of both Vehicles and Unitsnits

Arkansas PlantArkansas Plant

Toyota Dyna HybridToyota Dyna Hybrid


25

5. Initiatives for FY2009 5. Initiatives for FY2009 5. Initiatives for FY2009

26

Planned No. Units (year-on-year)

In Japan: flattening out

Overseas: major increase

Toyota Brand: flattening out

Planned No. UnitsPlanned No. Units (year-on-year)

In Japan: flattening outIn Japan: flattening out

Overseas: major increaseOverseas: major increase

Toyota Brand: flattening outToyota Brand: flattening out

Three Negative Factors(1) Subprime loan problem

(fears of reduced demand overseas) (2) High yen(3) High materials costs

Three Negative FactorsThree Negative Factors(1) Subprime loan problem (1) Subprime loan problem

(fears of reduced demand overseas)(fears of reduced demand overseas)(2) High yen(2) High yen(3) High materials costs(3) High materials costs

We will aim at We will aim at profits on the profits on the same level as same level as

FY2008FY2008

Expand sales by steadily incorporating overseas demand Expand sales by steadily incorporating overseas demand + + Major cost reductionsMajor cost reductionsReduce materials costsReduce materials costsPromote cost reduction activities over all costs/expensesPromote cost reduction activities over all costs/expensesIncrease parts purchasing/knockdownIncrease parts purchasing/knockdown

Fears of worsening earningsFears of worsening earnings

FY2009 will be more severe FY2009 will be more severe than the previous yearthan the previous year

5. Initiatives for FY20095. Initiatives for FY2009

FY2009 Business EnvironmentFY2009 Business EnvironmentFY2009 Business Environment

Positive FactorsMajor increases in overseas demand(Emerging countries /

resource-rich countries)

Positive FactorsPositive FactorsMajor increases in Major increases in overseas demandoverseas demand(Emerging countries /(Emerging countries /

resourceresource--rich countries)rich countries)

27

Overseas Business InitiativesOverseas Business Initiatives•• Sales are to be expanded through introduction ofSales are to be expanded through introduction of marketmarket--approved vehiclesapproved vehicles

Vehicles with Vehicles with ““modulemodule”” concepts will gradually be introducedconcepts will gradually be introduced•• Our overseas dealership network will be enhancedOur overseas dealership network will be enhanced•• Our overseas manufacturing will be enhancedOur overseas manufacturing will be enhanced•• We will explore new markets and promote future entry into new We will explore new markets and promote future entry into new

marketsmarkets

Business Initiatives in JapanBusiness Initiatives in Japan•• Customer contact will be maximized by increasing general marketiCustomer contact will be maximized by increasing general marketing ng

and useful activitiesand useful activities•• Our total support business (retaining business) will be expandedOur total support business (retaining business) will be expanded

Business Operations Overseas / in JapanBusiness Operations Overseas / in JapanBusiness Operations Overseas / in Japan5. Initiatives for FY2009 5. Initiatives for FY2009

To make the world a better place to live, by helping people To make the world a better place to live, by helping people and goods get where they need to go and goods get where they need to go ––safely and economicallysafely and economically––

while focusing on sustainable development.while focusing on sustainable development.

Contribute to each country through action fully suited to Contribute to each country through action fully suited to that countrythat country

28

Toyota Business InitiativesToyota Business Initiatives

••(In Japan) (In Japan) Maximize the capacity of the Hamura Plant Maximize the capacity of the Hamura Plant

••(Overseas) Enhance manufacturing site capabilities(Overseas) Enhance manufacturing site capabilities for axlefor axle--related parts for Toyotarelated parts for Toyota--frameframe vehicles in overseas plants vehicles in overseas plants (US California, US Arkansas and Thailand)(US California, US Arkansas and Thailand)

Toyota BusinessToyota BusinessToyota Business

Contribution to ToyotaContribution to Toyota’’s global strategys global strategy

5. Initiatives for FY2009 5. Initiatives for FY2009

29

6. Business Goals for FY20096. Business Goals for FY20096. Business Goals for FY2009

30

Business Goals for FY2009Business Goals for FY2009Business Goals for FY2009

Unit SalesUnit Sales FY2009 PlanFY2009 Plan (YoY Change)(YoY Change) FY2008 ResultsFY2008 Results

In JapanIn Japan 45,000 45,000 (98%)(98%) 46,00046,000

OverseasOverseas 77,000 77,000 (122%)(122%) 63,00063,000

Hino TotalHino Total 122,000 122,000 (112%)(112%) 109,000109,000

Toyota BrandToyota Brand 218,000 218,000 (108%)(108%) 201,000201,000

6. Business Goals for FY20096. Business Goals for FY2009

31

Business Goals for FY2009Business Goals for FY2009Business Goals for FY20096. Business Goals for FY20096. Business Goals for FY2009

FY2009 Plan (YoY Change) FY2008 Results

Net Sales ¥¥ 1,420.0 billion (104%)1,420.0 billion (104%) ¥¥ 1,368.6 billion1,368.6 billion

Operating Income ¥¥ 46.0 billion (100%)46.0 billion (100%) ¥¥ 45.9 billion45.9 billion

Ordinary Income ¥¥ 42.0 billion (102%)42.0 billion (102%) ¥¥ 41.0 billion41.0 billion

Net Income ¥¥ 22.0 billion (99%)22.0 billion (99%) ¥¥ 22.2 billion22.2 billion

Operating Income Margin 3.2%3.2% 3.4%3.4%

33

Executive Vice President

Shinichiro Sugisaki

34

1. Consolidated Financial Results

35

Consolidated Net Sales

408.2

181.7

540.2

399.5

198.5

598.9

474.6

233.6

579.4

522.6

315.5

530.5

530.0

352.0

538.0

0

200

400

600

800

1,000

1,200

1,400

1,600

FY2005 FY2006 FY2007 FY2008 FY2009

ToyotaToyota

OverseasOverseas

In JapanIn Japan

1,368.6

1,130.11,196.9

1,420.0

(Prospects)

1,287.6

Record high

Toyota overseas business

84.773.626.9 128.5 118.0

(billions of yen)

(’04/4 – ’05/3) (’07/4 – ’08/3)(’06/4 – ’07/3)(’05/4 – ’06/3) (’08/4 – ’09/3)

36

Consolidated Profit and Loss

38.3 39.7

17.6

40.5 42.1

28.7

36.7 36.8

20.0

45.941.0

22.2

46.042.0

22.0

0

10

20

30

40

50

FY2005 FY2006 FY2007 FY2008 FY2009

(billions of yen)

Operating income

Ordinary income

Net income

(Prospects)

Record High

(’04/4 – ’05/3) (’07/4 – ’08/3)(’06/4 – ’07/3)(’05/4 – ’06/3) (’08/4 – ’09/3)

37

Consolidated Income Statement(billions of yen)

Item FY2008('07/4 - '08/3)

FY2007('06/4 - '07/3) Change Percentage (%)

Net sales 1,368.6 1,287.6 81.0 +6.33.4% 2.9% +0.5p

Operating income 45.9 36.7 9.2 +25.0Non-operating income (5.8) (1.1) -4.7 －Equity income / loss 0.9 1.2 -0.3 -28.6

3.0% 2.9% +0.1pOrdinary income 41.0 36.8 4.2 +11.4

Extraordinary income 1.4 1.3 0.1 +7.8Extraordinary losses 5.5 3.6 1.9 +53.7

2.7% 2.7% +0.0pNet income before taxes andminority interests 36.9 34.5 2.4 +6.8

1.6% 1.6% +0.0pNet income 22.2 20.0 2.2 +10.6Number ofconsolidated subsidiaries 74 71 3

*

*

*Record High

38

Consolidated Net Sales / Operating Income by Segments

(billions of yen)

Net sales Operating income Net sales Operating income Net sales Operating income

<2.8%> <2.7%> +5.9% +13.0%

1,034.2 29.3 976.6 25.9 57.6 3.4<3.3%> <2.5%> +1.5% +35.7%

168.0 5.5 165.5 4.1 2.5 1.4<3.3%> <0.4%> +38.5% 10.3 times

333.7 10.9 241.0 1.1 92.7 9.8<0.6%> <1.2%> -9.8% -55.6%

379.1 2.2 420.2 4.9 -41.1 -2.7

(546.4) (2.0) (515.7) 0.7 -30.7 -2.7 <3.4%> <2.9%> +6.3% +25.0%

1,368.6 45.9 1,287.6 36.7 81.0 9.2

FY2008('07/4 - '08/3)

FY2007('06/4 - '07/3)

Change

Total

Hino

Suppliers

Overseas

DealersConsolidatedadjustment

Figures in < > give the operating income margin. The percentages in the Change column are in regards to the previous year.

39

Factors Changing Consolidated Operating Income

Increase in operating income +¥9.2 billion (¥36.7 billion to ¥45.9 billion)Increase in operating income +¥9.2 billion (¥36.7 billion to ¥45.9 billion)

45.936.7

Costimprovement

-14.4High materialcosts andexchange

rates

19.0

8.2

Sales efforts

FY2007 results('06/4 - '07/3)

FY2008 results('07/4 - '08/3)

Cost changeand others

-3.6

40

Factors Changing Consolidated Ordinary Income(billions of yen)

FY2008('07/4 - '08/3)

FY2007('06/4 - '07/3) Change

Operating income 45.9 36.7 9.2Non-operating income 4.8 6.2 -1.4 Non-operating expenses 10.6 7.3 3.3Equity income / loss 0.9 1.2 -0.3

Ordinary income 41.0 36.8 4.2

(1) Increase of operating income･････････････････････････････ + 9.2(2) Worsening foreign exchange gain / loss (0.7→-3.0) ･･････････ - 3.7(3) Reduction of dividends earned (1.8→1.3) ･･････････････････ - 0.5(4) Worsening equity income / loss (-0.3) etc.･･･････････････････ - 0.8

Difference: Change in ordinary income + 4.2

Factors of ordinary income +¥4.2 billion

41

(1) Increase in ordinary income･････････････････････････････････････････････････ + 4.2(2) Increase in gain on sales of fixed assets (0.6 →1.3)･･････････････････････････････ + 0.7(3) Provision of accrued directors' retirement benefits for prior year･････････････････････ - 2.5　 Difference: Change in net income before tax and minority interests + 2.4

Factors of net income before tax and minority interests +¥2.4 billion

Factors Changing Consolidated Net income Before Tax and Minority Interests

(billions of yen)FY2008

('07/4 - '08/3)FY2007

('06/4 - '07/3) Change

Ordinary income 41.0 36.8 4.2Extraordinary income 1.4 1.3 0.1Extraordinary losses 5.5 3.6 1.9

Net income before taxand minority interests 36.9 34.5 2.4

42

Factors Changing Consolidated Net Income

FY2008('07/4 - '08/3)

FY2007('06/4 - '07/3) Change


Corporate tax 13.1 13.4 -0.3 Minority interestsin subsidiaries 1.6 1.1 0.5

Net income 22.2 20.0 2.2

(1) Increase of net income before tax and minority interests･･ + 2.4(2) Decrease of corporate tax etc. (13.4→13.1) ････････････ + 0.3(3) Increase of minority interests in subsidiaries (1.1→ 1.6)･･ - 0.5

Difference: Change in net income + 2.2

Factors of net income +¥2.2 billion

43

2. Consolidated Financial Prospects for FY2009

44

Consolidated Income Statement(billions of yen)

ItemFY2009

Prospects('08/4 - '09/3)

FY2008('07/4 - '08/3) Change Percentage

Net sales1,420.0 1,368.6 51.4 +3.8

3.2% 3.4% -0.2p

46.0 45.9 0.1 +0.23.0% 3.0% 0.0p

42.0 41.0 1.0 +2.42.7% 2.7% 0.0p

39.0 36.9 2.1 +5.71.5% 1.6% -0.1p

22.0 22.2 -0.2 -0.8

Net income before taxand minority interests

Operating income

Ordinary income

Net income

*

*

*Record High

45

Consolidated Net Sales / Operating Income by Segments

(billions of yen)

Net sales Operating income Net sales Operating income Net sales Operating income

(2.4%) (2.8%) +4.4% -11.2%

1,080.0 26.0 1,034.2 29.3 45.8 -3.3 (3.5%) (3.3%) +1.2% +8.2%

170.0 6.0 168.0 5.5 2.0 0.5(3.4%) (3.3%) +4.9% +9.9%

350.0 12.0 333.7 10.9 16.3 1.1(1.1%) (0.6%) +0.2% +84.9%

380.0 4.0 379.1 2.2 0.9 1.8

(560.0) (2.0) (546.4) (2.0) -13.6 0.0(3.2%) (3.4%) +3.8% +0.2%

1,420.0 46.0 1,368.6 45.9 51.4 0.1

FY2009 Prospects ('08/4 - '09/3)

FY2008 ('07/4 - '08/3) Change

Total

Hino

Suppliers

Overseas

DealersConsolidatedadjustments

Figures in < > give the operating income margin. The percentages in the Change column are in regards to the previous year.

46

Factors Changing Consolidated Operating Income

Increase of operating income +¥0.1 billion (¥45.9 billion to ¥46.0 billion)Increase of operating income +¥0.1 billion (¥45.9 billion to ¥46.0 billion)

46.045.9

-30.0

Costimprovement

-12.9

High materialcosts andexchange

rates 19.0

24.0

Sales efforts

FY2008 results('07/4 - '08/3)

FY2009 prospects('08/4 - '09/3)

Cost changeand others

47

Factors Changing Consolidated Ordinary Income

(billions of yen)

FY2009Prospects

('08/4 - '09/3)

FY2008('07/4 - '08/3) Change

Operating income 46.0 45.9 0.1

Ordinary income 42.0 41.0 1.0

(1) Increase of operating income････････････････････････････ + 0.1(2) Improving foreign exchange gain / loss (-3.0→0) ･･････････ + 3.0(3) Worsening equity profit / loss (-1.2) etc.･･････････････････ - 2.1

Difference:　Change of ordinary income + 1.0

Factors of ordinary income +¥1.0 billion

48

Factors Changing Consolidated Net Income before Tax and Minority Interests

(billions of yen)FY2009

Prospects('08/4 - '09/3)

FY2008('07/4 - '08/3) Change

Ordinary income 42.0 41.0 1.0Net income before taxand minority interests 39.0 36.9 2.1

(1) Increase of ordinary income･･････････････････････････････････････ + 1.0(2) Provision of accrued directors' retirement benefits for prior year････････ + 2.5(3) Decrease in gain on sales of fixed assets, etc･･･････････････････････ - 1.4　 Difference: Change in net income before tax and minority interests + 2.1

Factors of net income before tax and minority interests +¥2.1 billion

49

Factors Changing Consolidated Net Income

(billions of yen)

FY2009Prospects

('08/4 - '09/3)

FY2008('07/4 - '08/3) Change


Net income 22.0 22.2 -0.2

(1) Increase of net income before tax and minority interests ･･･ + 2.1(2) Increase of corporate tax etc. (13.1→14.9) ･･･････････････ - 1.8(3) Increase of minority interests in subsidiaries (1.6→ 2.1)･･･････ - 0.5

Difference: Change of net income - 0.2

Factors of net income - ¥0.2 billion

financial results for fy2008 - hino global · financial results for fy2008 2. ... as part of our...

Documents