outline of consolidated results for the fiscal year ended ... · 5/2/2014 · net sales ....
TRANSCRIPT
Outline of Consolidated Results for the Fiscal Year Ended March 2014
May 2, 2014
© 2013 1
Contents
1. Outline of Consolidated Results for the Fiscal Year Ended March 2014 2
2. Progress of Investment Plan 7
3. Consolidated Earnings Forecast for the Fiscal Year Ending March 2015 9
4. Supplementary Materials 14
1. Outline of Consolidated Results for the Fiscal Year Ended March
2014
2
© 2013
+31% +38.6
+23% +1,438.9
+8% +5.6
+39% +45.5
3
Net sales Operating income
Ordinary income
Net income
Consolidated Results
6,304.3
March 2013 Results
March 2014 Results
7,743.2
115.8 161.3 124.8
163.4
67.4 73.0
(Billion yen)
◆Increases in sales and income YoY (net sales, operating income, ordinary income and net income have increased for four consecutive years)
⇒ Net sales: Growth centered on the Automotive Division from newly consolidated subsidiaries and the foreign exchange impact from the depreciation of the yen
Operating income and ordinary income: Increases mainly in the Chemicals & Electronics Division and the Machinery, Energy & Project Division
Net income: Increased due to higher ordinary income, despite extraordinary losses
© 2013 4
Positive and Negative Factors behind YoY Change in Operating Income
(Billion yen)
March 31, 2013 8.56 million units
March 31, 2014 8.95 million units
Positive factor
Negative factor
Toyota Motor’s car production volume
Toyota Motor’s car production volume
March 2013 Results
March 2014 Results
+2.8
+4.5
+13.5
+1.4
+9.0
+10.4
-5
Car production volume
Forex effect from yen
depreciation 115.8
161.3
New consolidated subsidiaries
Demand/ sales volume
Nonrecurring items
+4.4 Offsetting foreign
exchange losses
included in non-
operating category, etc.
Unit car sales
Market prices
© 2013
Assets
5
Net Assets
Balance Sheets
March 31, 2013 March 31, 2014
(Billion yen)
Net assets 920.0
1,156.0
Total assets 3,592.3
Current assets 2,294.1
Investments/Other 488.1
PPE/Intangibles 810.0
2,520.8
933.6
618.2
4,072.7
(Net worth: 760.1) (Net worth: 972.7)
Increase in receivables +161.7 Investment securities: +97.1 Intangible assets: +64.8 Property and equipment: +58.8
[Increase in net worth: +212.6] Retained earnings: +53.5 Foreign currency translation adjustments: +121.8 Net unrealized gains or losses on available-for-sales securities, net of taxes +33.9
[Other increases: +23.5] Minority interests: +24.0
Increase in total assets:+480.4
Increase in net assets: +236.0
© 2013 6
Net cash provided by operating activities
Net cash used in investing
activities
Free cash flow Net cash provided by
financing activities
Cash Flows (Billion yen)
-135.5
+133.9 +5.3
Increase due to net income
Automotive: Non-automotive ratio ca. 45 : 55
-1.6
2.Progress of Investment Plan
7
© 2013
Amount
Gas development projects in Australia and Canada Investment in German scrap recycler
Eurus Energy Holdings Corporation, a solar power generation business in Japan Acquisition of equity stake in Fuji Sangyo
Co., Ltd.
Acquisition of auto-parts and industrial supplies distributors in Malaysia and Thailand Enhancement of automotive-related facilities
Approved but not yet
funded
Approved but not yet
funded
Progress of Investment Plan
Automotive
Enhancement of automotive-related facilities Existing dealer capital investment
Funded
Funded
Non- automotive
Total 27.2
Total
Total 81.4
Total 64.7
Total 155.3
250.0
(Billion yen)
Investment in FY ended March 2014
Plan (Two years)
Main Projects
Automotive investment
1Q – 3Q 47.4
4Q 17.3
Non-automotive investment 1Q – 3Q 56.8
4Q 24.6
Unfunded 182.5 Total 328.6
Funded 146.1
8
3. Consolidated Earnings Forecast for the Fiscal Year Ending March 2015
9
© 2013 10
Assumptions of Forecast for the Fiscal Year Ending March 2015
Benchmark Forecast for Full Fiscal Year
Exchange Rate USD 1 JPY 100 EUR 1 JPY 140
Toyota Motor’s automobile production 9.19 million units
© 2013
+11% +856.8
+8% +13.7
+8% +13.6
+10% +7.0
11
Forecast for the Fiscal Year Ending March 2015
Net sales Operating income
Ordinary income
Net income
7,743.2
(Billion yen)
March 2014 Results
March 2015 Forecast
8,600.0
161.3
175.0 163.4
177.0
73.0 80.0
© 2013
+13% +231.8 -5%
-71.7
+9% +78.4
+10% +132.0
+20% +333.5
+44% +140.2
+6% +10.5
12
Metals
1,828.2
2,060.0
(Billion yen)
Global Parts & Logistics*
Automotive Machinery, Energy & Project
Chemicals & Electronics
Food & Agribusiness
Consumer Products &
Services
891.6 970.0
1,298.0 1,430.0
1,526.7 1,455.0
1,706.5
2,040.0
319.8 460.0
169.5 180.0
March 2014 Results
March 2015 Forecast
Forecast by Product (Net Sales)
*Effective April 1, 2014, the Global Production Parts & Logistics Division was renamed the Global Parts & Logistics Division.
© 2013
+10% +4.4
-9% -1.9
+12% +4.9
+1% +0.2
+11% +3.2
+44% +2.5
+7% +0.5
13
Metals
43.6 48.0
Automotive Machinery, Energy & Project
Chemicals & Electronics
Food & Agribusiness
Consumer Products &
Services
22.9 21.0
39.6 44.5
23.8 24.0 27.3
30.5
5.5 8.0 7.5 8.0
(Billion yen)
March 2014 Results
March 2015 Forecast
Forecast by Product (Operating income)
Global Parts & Logistics*
*Effective April 1, 2014, the Global Production Parts & Logistics Division was renamed the Global Parts & Logistics Division.
4. Supplementary Materials
14
© 2013 15
Supplementary Materials (Contents)
Supplementary Materials 1:
Net Sales and Operating Income by Segment with YoY Comparison 16
Supplementary Materials 2:
Net Sales and Operating Income by Geographical Area 21
Supplementary Materials 3: Number of Consolidated Subsidiaries 22
© 2013
+47% +414.3
-1% -9.5
-4% -34.7
+15% +198.6
+21% +292.6
+3% +8.2
-1% -1.2
+8% +3.1
+2% +0.4
+11% +3.8
+118% +12.9
+128% +15.3
+98% +2.7
-16% -1.5
16
Metals
1,828.2
(Billion yen)
Global Production
Parts & Logistics
Automotive Machinery, Energy &
Project
Chemicals &
Electronics
Food & Agribusiness
Consumer Products & Services**
891.6
1,298.0
1,526.7 1,706.5
319.8 169.5
March 2013 Results
March 2014 Results
Supplementary Materials 1: Consolidated Results by Segment
Forex effect*
Metals Global Production
Parts & Logistics
Automotive Machinery, Energy &
Project
Chemicals &
Electronics
Food & Agribusiness
Consumer Products & Services**
43.6
22.9
39.6
23.8 27.3
5.5 7.5
【Net Sales】 【Operating income】
*Percentage change calculations above do not include the effect of foreign currency translation. **Effective April 1, 2014, the Consumer Products, Services, & Materials Division was renamed the Consumer Products & Services Division. Results for the fiscal
year ended March 31, 2013 have been restated to conform to the segmentation after this change.
© 2013
-4% -1% +8% +2%
17
Net sales Operating income Net sales Operating income
Supplementary Materials 1-1: Net Sales and Operating Income by Segment with YoY Comparison
Metals Division Global Production Parts & Logistics Division
(Billion yen)
40.5
[Net sales] Lower market prices (ca. -12.0) Higher car production (ca. +9.0)
[Operating income] Factors including higher car production
926.3 891.6
790.8
-34.7
135.5 22.5 22.9
19.7 2.8
+0.4
[Net sales] Decrease in auto parts sales volume (ca. -24.0) Increase in sales volume of logistics, etc. (ca. -8.0)
[Operating income] Offsetting foreign exchange losses included in non- operating category, etc.
1,828.2
1,694.1
143.6
1,837.7
43.6
36.2 4.3
+3.1
-9.5
© 2013
+47% +15%
+11% +118%
18
Automotive Division Machinery, Energy & Project Division
Net sales Operating income
(Billion yen)
35.8
[Net sales] Increase due to effect of newly consolidated
subsidiaries (ca. +299.0) Increase in automobile export volume at parent
company (ca. +102.0)
[Operating income] Increase due to higher sales
Net sales Operating income
1,328.1 1,526.7
74.7
10.9
23.8
10.4 0.5
+12.9
[Net sales] Higher energy-related sales volume (ca. +183.0) Increase in machinery-related (ca. +15.0)
[Operating income] Factors including higher sales and increase in
income of wind power generation subsidiaries
1,298.0
781.9 +414.3 101.8
883.7
39.6
31.2 4.6
+3.8 +198.6
1,253.4
Supplementary Materials 1-2: Net Sales and Operating Income by Segment with YoY Comparison
© 2013
+21% +98%
+3% +128%
19
Chemicals & Electronics Division
Net sales Operating income
[Net sales] Effect of newly consolidated subsidiaries (ca. +143.0) Higher chemical & resin sales volume (ca. +89.0) Increase in electronic parts unit sales (ca. +61.0)
[Operating income] Increase due to higher sales, etc.
1,706.5
1,324.8 +292.6
89.1
1,413.9
27.3
1.6
+15.3
Food & Agribusiness Division
(Billion yen)
[Net sales] Effect of newly consolidated subsidiaries, etc.
Net sales Operating income
311.6 319.8
290.2 +8.2 21.4
2.5
5.5 2.8
0.3
+2.7
10.4
12.0
Supplementary Materials 1-3: Net Sales and Operating Income by Segment with YoY Comparison
© 2013
-1% -16%
20
Supplementary Materials 1-3: Net Sales and Operating Income by Segment with YoY Comparison
Consumer Products & Services Division
(Billion yen)
Net sales Operating income
[Net sales & Operating income] Decrease in trading volume of textile-related
products
169.5
165.8 -1.2
4.9
170.7
7.5
0.1
-1.5
8.9
9.0
© 2013
+36% +15.3
+6% +2.3
+32% +4.6
+224% +14.8
+41% +5.9
+10% +371.8
+22% +325.5
+23% +117.2
+175% +575.5
+28% +48.8
21
Supplementary Materials 2: Net Sales and Operating Income by Geographical Area
Net sales Operating income
Japan Asia & Oceania
North America
Europe Other areas
(Billion yen)
4,192.4
3,820.6
1,801.4
1,475.9
620.8
503.6
903.4
327.9
224.9 176.1
Japan Asia & Oceania
North America
Europe Other areas
58.4
43.1 41.2
38.9
19.2
14.6
21.3
6.5
14.5
March 2013
Results
March 2014
Results
March 2013
Results
March 2014
Results
20.4
© 2013 22
2013 2014 Change
150,211 172,978 22,767
22,883 22,683 -200
43,169 47,362 4,193
13,089 26,661 13,572
4,169 5,158 989
25,593 27,321 1,728
*41,308 43,793 2,485
Export Volume by Region Retail Sales Volume by Region
(Units)
2013 2014 Change
Total 201,455 206,362 4,907
Asia & Oceania 45,956 45,368 -588
China, Hong Kong & Taiwan 40,553 40,880 327
Central & South America 40,239 32,703 -7,536
Middle East & Southwest Asia 56,942 63,969 7,027
Europe & Africa 14,144 19,259 5,115
Russia & NIS *3,621 4,183 562
Main Export Countries
Country 2013 2014 Change
Pakistan 42,593 39,077 -3,516
Australia 37,455 38,555 1,100
China 27,283 25,577 -1,706
Iraq 7,065 17,739 10,674
Hong Kong 13,270 15,301 2,031
Main Retail Countries
Country 2013 2014 Change
China 43,169 47,362 4,193
Russia 24,174 23,545 -629
U.K. 5,387 5,964 577
Angola 3,777 5,144 1,367
Kazakhstan 3,335 4,687 1,352
Supplementary Materials 3: Automobile Export Volume (Parent Company) and Retail Sales Volume by Region & Main Countries
*Certain year-on-year comparisons have been restated to conform with a new data-collection methodology.
Fiscal years ended March 31
© 2013 23
Inquiries:
Investor Relation Group
E-mail [email protected]
Tokyo
TEL +81-3-4306-8201
FAX +81-3-4306-8818
◆ This presentation contains “forward-looking statements” about the strategies and plans of Toyota Tsusho Corporation and its Group companies that are not historical facts. These forward-looking statements are subject to a number of risks and uncertainties that could cause the Group’s actual or implied operating environment, performance, results, financial position, etc. to differ materially from the information presented here, which is based on assumptions and beliefs in light of information currently available to the management at the time of publication. The Group assumes no obligation to update or correct these forward-looking statements. ◆ This presentation is not intended to solicit, offer, sell or market securities, and should not be the sole basis for making investment and other decisions.