FY2006 1H Financial Results FY2006 1H Financial Results Six months - - PowerPoint PPT Presentation
FY2006 1H Financial Results FY2006 1H Financial Results Six months ended September 30, 2005 Six months ended September 30, 2005 - prepared in accordance with U.S. GAAP prepared in accordance with U.S. GAAP - - - Toyota Motor Corporation
prepared in accordance with U.S. GAAP -
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Cautionary Statement with Respect to Forward-Looking Statements
This report contains forward-looking statements that reflect Toyota’s plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking
affecting, and the competitive environment in, the automotive markets in Japan, North America, Europe and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro, the Australian dollar and the British pound; (iii) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (iv) changes in the laws, regulations and government policies in the markets in which Toyota operates that affect Toyota’s automotive operations, particularly laws, regulations and policies relating to trade, environmental protection, vehicle emissions, vehicle fuel economy and vehicle safety, as well as changes in laws, regulations and government policies that affect Toyota’s other operations, including the outcome of future litigation and other legal proceedings; (v) political instability in the markets in which Toyota operates; (vi) Toyota’s ability to timely develop and achieve market acceptance of new products; and (vii) fuel shortages or interruptions in transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold. A discussion of these and other factors which may affect Toyota’s actual results, performance, achievements or financial position is contained in Toyota’s annual report on Form 20-F, which is
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Caution concerning Insider Trading
Under Japanese securities laws and regulations (the "Regulations"), subject to certain exceptions, any person who receives certain material information relating to the business, etc., of Toyota which may be contained in this document is prohibited from trading in Toyota's shares or certain other transactions related to such shares (as set forth in the Regulations) until such material information is deemed to be made public. Under the Regulations, material information is deemed to be made public when (i) such material information is disclosed by ways of electromagnetic means as prescribed by the ordinance of the Cabinet Office (posting on the TDnet (Timely Disclosure Network) information service and ED-NET (Electronic Disclosure Network) information service ) or (ii) twelve (12) hours have elapsed since a listed company, such as Toyota, disclosed such material information to at least two (2) media sources as prescribed by the Regulations.
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FY2006 1H FY2006 1H ( (’ ’05/4 05/4-
9) FY2005 1H FY2005 1H ( (’ ’04/4 04/4-
9) Changes Changes
584.0 570.5 Net income
110 yen/1$
Forex rate
+3 yen/1Euro 133 yen/1Euro 136 yen/1Euro
913.2 855.9
Income before income taxes, minority interest and equity in earnings
866.2 809.4 Operating income 10.3 927.5 9,025.6 9,953.1 Net revenues
% (*) (billions of yen) (billions of yen) (billions of yen)
(*): percentage changes year-on-year
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1,000 2,000 3,000 4,000
'04/4-9 '05/4-9
Japan
Europe Asia Other
Figures in brackets show total retail unit sales of Toyota/Lexus, Daihatsu, and Hino vehicles.
(+83) (+22) (+119) (-20)
(+266)
(thousands of units)
(+62)
Figures in parentheses show year-on-year changes
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809.4 (-56.8)
(billions of yen)
Cost Reduction Efforts +60.0 Marketing Efforts (volume, mix, etc.) +70.0
500 550 600 650 700 750 800 850
'04/4-9 '05/4-9
866.2
Favorable ForEx Rate +20.0 Decrease in DAIKO HENJO
Increases in Expenses
related costs, Labor costs and Other Expenses
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237.6 188.4 197.5 253.0 259.3 237.3
538 568 573 702 550 536
100 200 300 '04/4-6 '04/7-9 '04/10-12 '05/1-3 '05/4-6 '05/7-9
Operating Income (billions of yen) Consolidated vehicle sales (thousands of units)
(billions of yen)
'04/4-9 Operating Income 490.6 billion yen '05/4-9 Operating Income 385.9 billion yen
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129.8 114.9 127.8 75.0 137.8 130.7 604 641 569 576 554 572 50 100 150 200 '04/4-6 '04/7-9 '04/10-12 '05/1-3 '05/4-6 '05/7-9
Operating Income (billions of yen) Consolidated vehicle sales (thousands of units)
(billions of yen)
04/4-9 Operating Income 244.7 billion yen '05/4-9 Operating Income 268.5 billion yen
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30.9 35.4 26.5 15.7 16.7 23.4 242 256 254 249 229 247 10 20 30 40 50 '04/4-6 '04/7-9 '04/10-12 '05/1-3 '05/4-6 '05/7-9
Operating Income (billions of yen) Consolidated vehicle sales (thousands of units)
(billions of yen)
'04/4-9 Operating Income 66.3 billion yen '05/4-9 Operating Income 40.1 billion yen
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*Vehicle sales increased in all major countries *IMV Project: Start full-scale exports to Europe and M.East
(billions of yen) 43.5 75.4 448 386 20 40 60 80 100 '04/4-9 '05/4-9
Operating Income (billions of yen) Consolidated vehicle sales (thousand of units)
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27.4 36.2 556 473 20 40 '04/4-9 '05/4-9
Operating Income (billions of yen) Consolidated vehicle sales (thousand of units)
(billions of yen)
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(billions of yen) 46.2 56.5 58.7 39.4 39.7 43.8 10 20 30 40 50 60 '04/4-6 '04/7-9 '04/10-12 '05/1-3 '05/4-6 '05/7-9
'04/4-9 Operating Income 102.7 billion yen '05/4-9 Operating Income 83.5 billion yen
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(billions of yen)
34.7 24.1 39.3 41.3 35.6 35.1 10 20 30 40 50
'04/4-6 '04/7-9 '04/10-12 '05/1-3 '05/4-6 '05/7-9
Equity in Earnings of Affiliated Companies
'04/4-9 58.8 billion yen '05/4-9 70.7 billion yen
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FY2006 1H FY2006 1H ( (’ ’05/4 05/4-
9) FY2005 1H FY2005 1H ( (’ ’04/4 04/4-
9) Changes Changes
7.6 19.9 263.7 283.6 Net income
442.3 416.6 Ordinary income
392.3 297.6 Operating income 4.6 204.3 4,459.7 4,664.0 Net sales
% (*) (billions of yen) (billions of yen) (billions of yen)
(*): percentage changes year-on-year
Non-operating income: 119.0 billion yen (+69.0 billion yen from FY2005 1H)
*+41.3 billion yen was due to the increase in dividends from subsidiaries, etc.
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100 150 200 250 300 350 400
'04/4-9 '05/4-9
297.6 (-94.7) 392.3
Favorable ForEx Rate +10.0 Cost Reduction Efforts +30.0
(billions of yen)
Increases in R&D expenses, etc
Depreciation and CAPEX related costs, Labor costs and Other Expenses
Marketing Activities
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(thousands of units)
1,344
447 452
1,275 1,145 1,305 503 542 471 554
1,000 2,000 3,000 4,000
04/10-05/3 Actual 05/10-06/3 Forecast
Japan N.America Europe Asia Other
(+83) (+39) (+160) (+ 69) (+ 5)
nd half:
Figures in parentheses show year-on-year changes
(+356)
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4Q 3Q 2Q 1Q 4Q 3Q 2Q 1Q
Premium Compact
nd half: Domestic Market
Further new model launches expected
Harrier/ Kluger HV
Harrier = RX, Kluger = Highlander, Vitz = Yaris,
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nd half:
Toyota Motor Hokkaido, Inc. Location: Hokkaido Start of operation: End of 2005 Products: Transmission Total Investment: 30 billion yen Toyota Motor Kyushu, Inc. Location: Fukuoka Start of operation: Sep. 2005 Products: Lexus IS Lexus ES (planned) Total Investment: 30 billion yen Toyota Motor Kyushu, Inc. Location: Fukuoka Start of operation: Jan. 2006 Products: Engine Total Investment: 30 billion yen Toyota Motor Tohoku Co., Ltd Location: Miyagi Start of operation: Nov. 2005 Products: Torque Converter Total Investment: 8 billion yen Kanto Auto Works, Ltd Location: Iwate Start of operation: Nov. 2005 Products: Global Compact Vehicle Total Investment: 18 billion yen
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Figures in parentheses show year-on-year changes
(thousands of units)
1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000
04/4-05/3Actual 05/4-06/3 Prospects (as released in '05/8) 05/4-06/3 Prospects (Current)
Japan N.America Europe Asia Other
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Capital Depreciation R&D Expenditures Expenses Expenses
(billions of yen) (billions of yen) (billions of yen)
(+312.8) (+64.2) (+44.9)
(+165.0) (+31.6)
(+96.3) (+7.0)
(+47.3) (+8.7)
(-24.9) (+6.8)
(+29.1) (+10.1)
Notes: Figures in parentheses show year-on-year changes
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FY2006 Prospects FY2006 Prospects ( (’ ’05/4 05/4-
’06/3) 06/3) FY2005 FY2005 ( (’ ’04/4 04/4-
’05/3) 05/3)
Units Units
thousands of units thousands of units
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FY2006 Prospects FY2005 Change
('05/4-'06/3) ('04/4-'05/3) (billions of yen) (billions of yen) (billions of yen)
Net Sales
10,100.0 9,218.3 881.7
Operating Income
750.0 701.3 48.7
Ordinary Income
980.0 856.2 123.8
Net Income
670.0 529.3 140.7
Exchange Rate
110 yen/ 1$ 108 yen/ 1$ +2 yen/1$ 135 yen/ 1Euro 135 yen/ 1Euro
Increase in R&D expense, etc. +70.0 +40.0 +30.0 Cost Reduction Efforts +70.0 +90.0
Marketing Efforts +60.0 +50.0 +100 ForEx Rate Total + 48.7 2nd Half +143.4 1st Half
Contributing factors to operating Income (billions of yen)
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Six months ended September 30, 2005 Six months ended September 30, 2005
prepared in accordance with U.S. GAAP -