Outline of Consolidated Results for Third Quarter of FY2019 (Year Ending March 31, 2020) January 31, 2020 Toyota Tsusho Corporation
Contents 1. Outline of Consolidated Results for P.3 Third Quarter of FY2019 P.10 2. Supplementary Materials of Financial Results 2
1. Outline of Consolidated Results for Third Quarter of FY2019
Outline of Consolidated Results （ Unit: Billion yen ） ＜ Foreign exchange rate ＞ FY2018 FY2019 1-3Q 1-3Q Variance FY2018 FY2019 Y o Y FY2019 Progress USD 111yen 109yen -2yen 1-3Q 1-3Q Change Forecast EUR 129yen 121yen -8yen 479.7 476.3 (3.4) 663.0 72% Gross Profit 165.1 164.0 (1.1) 237.0 69% Operating Profit Profit before 180.2 184.2 +4.0 251.0 73% income taxes Profit (attributable to 109.8 116.5 +6.7 150.0 78% owners of the parent) Toyota Automotive Japan 230 Japan 251 Production TOTAL 900 Overseas 434 Overseas 426 (Unit: Ten thousands) 4
Profit Analysis (1-3Q Results) （ Unit: Billion yen ） ＊ Profit attributable to owners of the parents” is presented as ”Profit” in the following pages FY2018 FY2019 <Effect from pre. fiscal year> Change Main Factor of Changes 1-3Q 1-3Q ・ Accrued dividends receivable forex difference +3.3 ※ Others (55.3) (47.5) +7.8 － Finance income ・ Impairment in electric power business +2.7 10.2 19.2 +9.0 Divestment of electric power business in Canada and costs ・ Energy business bad debt +2.2 Impairment in metal resources business ・ Business restructuring +1.0 Equity gain / loss 4.8 0.9 (3.9) Effect from impairment of electric power business in the pre. fiscal year ・ Divestment of game business -0.8 Tax effect of liquidation settlement of consolidated subsidiary ･ Divestment of real estate -0.9 Tax expense (54.0) (50.4) +3.6 Effect from reversal of deferred tax assets due to impairment ・ Tax refund in North America -1.5 in electric power business in the pre fiscal year Non-controlling (16.4) (17.1) (0.7) ・ Divestment of fixed asset in Thailand +0.6 interests Markets/ Forex Effect Demand/ Automotive Others -4.5 Prices Trading Volume +5.0 Retails -0.8 -5.9 +5.1 -55.3 - 47.5 Other ・ Metals ・ Metals ・ Africa Other +7.2 -3.6 -0.9 Profit/Loss ・ Food & ・ Chemical & Ele ・ Automotive -2.1 -3.3 Profit/Loss 165.1 Consumer ・ Africa ※ +0.1 -0.8 164.0 ※ ・ Global Parts +0.3 ・ Machinery +0.6 ・ Food & 116.5 109.8 +0.9 Consumer Operating Operating Profit Profit -1.1 Profit Profit +6.7 FY2019 FY2018 5
Summary of Division Profits （ Unit: Billion yen ） FY2018 FY2019 Division Change Main factor of changes 1-3Q 1-3Q ・ Decrease in trading volume of automobile production-related products 27.9 14.7 (13.2) Metals ・ impairment n the metal resources business Global Parts ・ Remain almost unchanged from the same period in 18.9 19.1 +0.2 & Logistics the previous year 17.2 13.8 (3.4) Automotive ・ Decrease in sales volume at overseas auto dealerships Machinery, ・ Divestment of shares in an affiliate in the electric power business 11.6 32.8 +21.2 Energy & Project ・ One-time loss in the pre. fiscal year Chemicals & 17.8 14.7 (3.1) ・ Profit margin shrinkage in the electronics business Electronics Food & ・ Improvement of share of profit (loss) of investments 2.3 3.5 +1.2 Consumer Services accounted for using the equity method in the food business 5.9 11.2 +5.3 Africa ・ Automotive sales growth 8.0 6.4 (1.6) Others ・ Tax burden of reorganization 109.8 116.5 +6.7 Total 6
One-off Gains and Losses (Profit) （ Unit: Billion yen ） FY2018 FY2019 Division 1-3Q Main Factor 1-3Q Main Factor ・ Impairment in metal resources business -6.0 - (7.5) Metal － ・ Impairment in aluminum business -1.5 Global Parts ・ Tax effect of liquidation settlement of - 1.0 － & Logistics consolidated subsidiary +1.0 ・ Impairment in Central and South America (1.0) - Automotive － business -1.0 ・ Impairment in electric power business -4.0 Machinery, ・ Divestment of electric power business in ・ Impairment in electric power business (6.5) 11.5 Energy & Canada +13.0 /others -4.0 ・ Impairment in electric power business -2.5 Project ・ Tax refund in North America +1.5 Chemicals & 0.5 0.5 ・ Divestment of game business +0.5 ・ Divestment of shares +0.5 Electronics Food & ・ Impairment in overseas beverage business ・ Impairment in overseas beverage business (2.0) (2.5) Consumer -3.0 -2.5 ・ Divestment of investment property +0.5 Services (0.5) - Africa ・ Business restructuring -0.5 － ・ Tax due to withdrawal of resource-related ・ Tax burden of reorganization -2.0 2.5 (1.0) Others business +2.5 ・ Tax effect of divestment of shares +1.0 Total (7.0) 2.0 ※ One-off gains and losses are rounded to the nearest 0.5 billion yen 7
Consolidated Financial Position （ Unit: Billion yen ） Mar. 31, 2019 Dec. 31, 2019 Current Current Liabilities Liabilities Current Current 1,909.1 1,890.0 Assets Assets 2,874.7 2,803.2 Non-Current Non-Current Liabilities Liabilities 1,161.7 1,334.2 Non-Current Non-Current Assets Assets Net Assets Net Assets 1,638.2 1,812.1 1,389.6 1,443.4 Mar. 31, 2019 Dec. 31, 2019 Changes 4,441.4 4,686.8 +245.4 Total assets 1,195.8 1,262.7 +66.9 Net worth 988.4 1,107.2 +118.8 Net interest-bearing debt Net interest-bearing debt 983.8 1,005.4 +21.6 (excluding lease liabilities) 0.82 0.87 +0.05 Net DER (times) Net DER (times) 0.82 0.79 （ 0.03 ） (excluding lease liabilities) 148 151 +3 Current ratio (%) 8
Consolidated Cash Flows （ Unit: Billion yen ） FY2018 1-3Q FY2019 1-3Q Cash flows from operating activities 85.8 Cash flows from operating activities 167.5 Profit before income taxes 180.2 Profit before income taxes 184.2 Depreciation and amortization 57.2 Depreciation and amortization 76.3 Income taxes paid -56.6 Income taxes paid -58.3 Working capital -89.6 Working capital -25.7 64.9 167.5 85.8 37.5 18.8 Cash flows from investing Cash flows from investing -67.0 activities -130.0 activities -67.0 ＜ Investments ＞ -131.3 -130.0 -96.0 ＜ Investments ＞ -63.2 Mobility Mobility -34.2 -53.8 Resources & Environment Resources & Environment -39.3 Life & Community -14.3 -22.5 Life & Community Cash flows ＜ Others ＞ +1.3 +29.0 ＜ Others ＞ from operating activities Increase in time deposits Cash from the sale of assets, etc. Cash flows Cash from the sale of assets from investing activities Increase in cash from acquisition Free cash flow of subsidiaries, etc. 9
２ . Supplementary Materials of Financial Results
Metals Division (1-3Q Profit) （ Unit: Billion yen ） FY2018 FY2019 Change Main Factor of Changes 1-3Q 1-3Q ※ Others (14.3) (22.1) (7.8) － Finance income and costs (0.9) (2.1) (1.2) Decrease in dividend income Equity gain / loss 1.1 (8.2) (9.3) Impairment in metal resources business Tax expense (11.4) (10.4) +1.0 Decrease in profit Non-controlling interests (3.0) (1.2) +1.8 Decrease in profit of consolidated subsidiaries Forex Effect Markets/Prices Demand/ Trading Volume -0.6 -0.9 -3.6 -14.3 Others ・ Aluminum in Other -0.3 North America -0.7 Profit/Loss ※ 42.2 -22.1 ・ Automotive steel sheet in North America -1.4 36.8 ・ Automotive steel sheet in India Other -0.9 27.9 ・ Automotive steel sheet in Thailand Profit/Loss -0.8 ※ Operating Operating 14.7 Profit Profit -5.4 Profit Profit -13.2 FY2018 FY2019 11
Global Parts & Logistics Division (1-3Q Profit) （ Unit: Billion yen ） FY2018 FY2019 Change Main Factor of Changes 1-3Q 1-3Q ※ Others (4.7) (4.3) 0.4 － Finance income and costs 3.1 1.5 (1.6) Decrease in dividend income Equity gain / loss 1.5 1.4 (0.1) Tax expense (7.2) (5.3) +1.9 Tax effect of liquidation settlement of conslidated subsiriary Non-controlling interests (2.0) (1.8) +0.2 Forex Effect Demand/ Others Trading Volume +0.2 -0.7 +0.3 - 4.3 - 4.7 Other Other Profit/Loss ・ Increase in domestic production +0.5 23.6 Profit/Loss 23.4 ※ ※ 19.1 18.9 Operating Operating Profit Profit -0.2 Profit Profit +0.2 FY2018 FY2019 12
Automotive Division (1-3Q Profit) （ Unit: Billion yen ） FY2018 FY2019 Change Main Factor of Changes 1-3Q 1-3Q ※ Others － (4.5) (5.6) (1.1) Finance income and costs 0.4 (0.4) (0.8) Effect from impairment in Central and South America business Equity gain / loss 1.8 1.8 (0.0) in the pre fiscal year Decrease in profit in Asian countries Tax expense (4.8) (5.1) (0.3) Non-controlling interests (1.9) (1.7) +0.2 Demand/ ・ Divestment of fixed asset in Thailand +0.6 Forex Effect Trading Volume -0.8 Others -2.1 - 4.5 +0.6 Other Profit/Loss -5.6 ※ ・ Sales decrease in Russia -1.3 Other 21.7 ・ Sales decrease in Korea -0.5 Profit/Loss 19.4 ・ Sales decrease in Asia/Oceania -0.5 ※ ・ Sales increase in Cambodia +0.6 17.2 13.8 Operating Operating Profit Profit -2.3 Profit Profit -3.4 FY2019 FY2018 13
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