FY2007 First Quarter Financial Results FY2007 First Quarter - - PowerPoint PPT Presentation
FY2007 First Quarter Financial Results FY2007 First Quarter Financial Results Three months ended June 30, 2006 Three months ended June 30, 2006 - prepared in accordance with U.S. GAAP prepared in accordance with U.S. GAAP - - - Toyota Motor
Three months ended June 30, 2006 Three months ended June 30, 2006
prepared in accordance with U.S. GAAP -
2
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 statements. These factors include: (i) changes in economic conditions and market demand 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
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 on file with the United States Securities and Exchange Commission.
Cautionary Statement with Respect to Forward-Looking Statements
3
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.
5
193 543 550 747 641 308 256 229 300 272
500 1,000 1,500 2,000 '05/4-6 '06/4-6 Other Asia Europe N.America Japan
( thousands of vehicles )
(+143) (+28) (+52) (+106) (- 7) (- 36)
[ 2,208 ] 2,091 [ 2,058 ] 1,948
6
Net Revenues Net Revenues
FOREX Rates FOREX Rates
Net Income Net Income
Income before income Income before income taxes, minority interest taxes, minority interest and equity in earnings and equity in earnings
Operating Income Operating Income
FY2007 Q1 ( ‘06/4-6 ) FY2007 Q1 ( ‘06/4-6 ) Changes Changes FY2006 Q1 ( ‘05/4-6 ) FY2006 Q1 ( ‘05/4-6 )
115 115yen yen
144 144yen yen 108 108yen yen 135 135yen yen +7 +7yen yen +9 +9yen yen $ $ € €
( billions of yen )
7
250 300 350 400 450 500 550 '05/4-6 '06/4-6
512.4 (+107.3) 405.1
Increases in Expenses - 72.7
R&D Expenses
Depreciation and CAPEX related costs
Labor Costs
Other Expenses
Cost Reduction Efforts +20.0 Marketing Efforts +60.0 Effects of favorable FOREX Rates +100.0
Contributing Factors to Consolidated Operating Income
(billions of yen)
8
has been shrinking.
197.5 293.0 408.9 281.1 188.4
707 571 536 550 543 1,231 1,316 1,177 1,068 1,123 100 200 300 400 500 '05/4-6 '05/7-9 '05/10-12 '06/1-3 '06/4-6
Operating Income ( billions of yen ) Consolidated Vehicle Sales ( thousands of vehicles ) Consolidated Vehicle Production ( thousands of vehicles )
9
130.7 140.1 137.8 127.8 99.3
604 643 668 747 641 50 100 150 200 '05/4-6 '05/7-9 '05/10-12 '06/1-3 '06/4-6
Operating Income ( billions of yen ) Consolidated vehicle sales ( thousands of vehicles )
10
23.4 36.5 27.2 26.6 16.7
242 246 279 308 256
10 20 30 40 50 '05/4-6 '05/7-9 '05/10-12 '06/1-3 '06/4-6
Operating Income ( billions of yen ) Consolidated vehicle sales ( thousands of vehicles )
such as Yaris and RAV4.
11
35.6 30.0 31.5 38.6 39.8
219 217 215 193 229
10 20 30 40 50 '05/4-6 '05/7-9 '05/10-12 '06/1-3 '06/4-6
Operating Income ( billions of yen ) Consolidated vehicle sales ( thousands of vehicles )
12
19.2 15.9 16.3 14.7 17.0
284 303 292 300 272 5 10 15 20 25 '05/4-6 '05/7-9 '05/10-12 '06/1-3 '06/4-6
Operating Income ( billions of yen ) Consolidated vehicle sales ( thousands of vehicles )
13
43.8 47.7 25.5 46.8 39.7
10 20 30 40 50 '05/4-6 '05/7-9 '05/10-12 '06/1-3 '06/4-6
Operating Income ( billions of yen )
14
35.1 56.2 47.8 45.8 35.6
10 20 30 40 50 '05/4-6 '05/7-9 '05/10-12 '06/1-3 '06/4-6
Equity in earnings of affiliated companies (billions of yen)
15
FY2007 Q1 ( ‘06/4-6 ) FY2007 Q1 ( ‘06/4-6 )
Net Sales Net Sales Net Income Net Income Operating Operating Income Income
Changes Changes FY2006 Q1 ( ‘05/4-6 ) FY2006 Q1 ( ‘05/4-6 )
( billions of yen )
Ordinary Ordinary Income Income
16
Contributing Factors to Unconsolidated Operating Income
100 150 200 250 '05/4-6 '06/4-6
246.5 (+103.2) 143.3
Increases in Expenses - 26.8
R&D Expenses
Depreciation and CAPEX related costs
Other Expenses +2.0
Cost Reduction Effort +10.0 Marketing Effort +40.0 Effects of favorable FOREX Rates +80.0 (billions of yen)
17
2,390 880 850 2,364 2,556 2,800 1,023 1,160 1,151 1,250
1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000
Other Asia Europe N.America Japan
7,974 8,450
(+99) (+137) (+244) (+26) (+476) (- 30)
( thousands of vehicles ) ‘06/4-‘07/3 Prospects ‘05/4-‘06/3 Results Figures in parentheses show year-on-year change projections
18
FOREX Rate Assumptions FOREX Rate Assumptions
110 110 yen yen 135 135 yen yen $ $ € €
(billions of yen)
19
Capital Expenditure Capital Expenditure
Consolidated Consolidated Europe Europe North America North America Japan Japan
R&D Expenses R&D Expenses Depreciation Expenses Depreciation Expenses
1,550.0 1,550.0 850.0 850.0 330.0 330.0 130.0 130.0 930.0 930.0 590.0 590.0 165.0 165.0 80.0 80.0 920.0 920.0
Other Other Asia Asia
135.0 135.0 55.0 55.0 105.0 105.0 40.0 40.0
(billions of yen) Figures in parentheses show year-on-year change projections
(+ 21.2) (- 0.5) (+ 3.1) (- 59.3) (+ 59.7) (+ 18.2) (+ 38.6) (+ 4.1) (+ 7.0) (+ 21.1) (- 0.1) (+ 6.5) (+ 107.4)
20
(billions of yen)
21
Sales (Overseas) Sales (Overseas) Exports Exports Sales (Japan) Sales (Japan) Housing Sales Housing Sales Production Production Japan Japan Overseas Overseas Total Total
FY2007 ( ‘06/4-‘07/3 ) FY2007 ( ‘06/4-‘07/3 ) FY2006 ( ‘05/4-‘06/3 ) FY2006 ( ‘05/4-‘06/3 )
(thousands of units) (thousands of units) units units
Three months ended June 30, 2006 Three months ended June 30, 2006
prepared in accordance with U.S. GAAP -