1st Quarter Results 5/6
Toyota Motor Corporation
04 August 2006
Supplementary Material for Financial Results for the 3 months ended June 30,
2006 (Consolidated)
FY2006 FY2007
(Note 1) (Note 1) (Note 1) FY2006 Prospects
1Q 2Q 1st Half 3Q 4Q 2nd Half 12 mos. ended 1Q ending
March 31, March
2006 31, 2007
Vehicle Production 1,892 1,809 3,701 1,914 2,096 4,010 7,711 2,000
(thousands of units)
(Japan)- 1,123 1,068 2,191 1,177 1,316 2,493 4,684 1,231
including Daihatsu & Hino
<175> <169> <344> <188> <189> <377> <721> <197>
<24> <25> <49> <25> <26> <51> <100> <26>
(Overseas)- 769 741 1,510 737 780 1,517 3,027 769
including Daihatsu & Hino
<14> <11> <25> <9> <8> <17> <42> <4>
<-> <-> <-> <-> <-> <-> <-> <->
North America 320 289 609 285 307 592 1,201 314
Europe 157 142 299 147 177 324 623 187
Asia 205 211 416 217 203 420 836 184
Latin America 31 32 63 30 29 59 122 37
Oceania 29 29 58 27 28 55 113 18
Africa 27 38 65 31 36 67 132 29
FY2006 FY2007
(Note 1) (Note 1) (Note 1) FY2006 Prospects
1Q 2Q 1st Half 3Q 4Q 2nd Half 12 mos. ended 1Q ending
March 31, March
2006 31, 2007
Vehicle Sales 1,948 1,885 3,833 1,980 2,161 4,141 7,974 2,091 8,450
(thousands of units)
(Japan)- 550 536 1,086 571 707 1,278 2,364 543 2,390
including Daihatsu & Hino
<133> <132> <265> <130> <169> <299> <564> <140> <590>
<10> <16> <26> <14> <16> <30> <56> <11> <50>
(Overseas)- 1,398 1,349 2,747 1,409 1,454 2,863 5,610 1,548 6,060
including Daihatsu & Hino
<41> <39> <80> <36> <32> <68> <148> <38> <160>
<12> <11> <23> <11> <12> <23> <46> <13> <50>
North America 641 604 1,245 643 668 1,311 2,556 747 2,800
Europe 256 242 498 246 279 525 1,023 308 1,160
Asia 229 219 448 217 215 432 880 193 850
Latin America 61 63 124 59 50 109 233 67 270
Oceania 67 62 129 59 63 122 251 64 270
Africa 64 62 126 63 64 127 253 66 280
Middle East 78 95 173 120 113 233 406 102 430
Others 2 2 4 2 2 4 8 1
FY2006 FY2007
(Note 1) (Note (Note FY2006 Prospects
1) 1)
1Q 2Q 1st 3Q 4Q 2nd 12 mos. 1Q ending March
Half Half ended 31, 2007
March
31,
2006
Total Retail Unit Sales 2,058 2,037 4,095 2,007 2,152 4,159 8,254 2,208
(thousands of units)
Housing Sales (units) 919 1,355 2,274 1,307 1,944 3,251 5,525 1,001
Foreign Exchange Rate as premise:
Yen to US Dollar Rate 108 111 110 117 117 117 113 115 110
Yen to Euro Rate 135 136 136 139 141 140 138 144 135
Registered Toyota Vehicles 402 402 804 397 533 930 1,734 384 approximately
(in Japan) 1,750
(thousands of units)
Market Share (Japan) approximately
Toyota (excluding Mini-cars) (%) 45.0 40.8 42.8 46.2 45.4 45.7 44.3 46.5 44%
Toyota, Daihatsu and Hino 41.1 39.8 42.5 40.9 41.8
(including Mini-cars) (%)
Number of Employees (Note 2) 278,622 285,977
FY2006 FY2007
(Note 1) (Note 1) (Note 1) FY2006 Prospects
1Q 2Q 1st Half 3Q 4Q 2nd Half 12 mos. 1Q ending
ended March March
31, 2006 31, 2007
Net Sales
(billions of yen) 4,981.7 4,971.4 9,953.1 5,333.3 5,750.5 11,083.8 21,036.9 5,638.1 22,300.0
Geographical Segment
Japan 2,992.0 3,040.9 6,032.9 3,375.8 3,702.8 7,078.6 13,111.5 3,422.3
North America 1,835.7 1,791.6 3,627.3 2,027.0 2,033.6 4,060.6 7,687.9 2,181.6
Europe 673.1 627.7 1,300.8 666.6 760.0 1,426.6 2,727.4 832.3
Asia 507.1 489.9 997.0 501.0 544.8 1,045.8 2,042.8 484.6
Others 363.4 396.7 760.1 416.4 425.2 841.6 1,601.7 453.1
Elimination -1,389.6 -1,375.4 -2,765.0 -1,653.5 -1,715.9 -3,369.4 -6,134.4 -1,735.8
Business Segment
Automotive 4,620.6 4,523.9 9,144.5 4,900.0 5,293.6 10,193.6 19,338.1 5,187.6
Financial Services 217.4 244.6 462.0 262.0 272.9 534.9 996.9 284.6
All Other 234.4 301.5 535.9 289.9 364.5 654.4 1,190.3 295.0
Elimination -90.7 -98.6 -189.3 -118.6 -180.5 -299.1 -488.4 -129.1
FY2006 FY2007
(Note 1) (Note 1) (Note 1) FY2006 Prospects
1Q 2Q 1st Half 3Q 4Q 2nd Half 12 mos. 1Q ending
ended March March
31, 2006 31, 2007
Operating Income
(billions of yen) 405.1 404.3 809.4 482.2 586.7 1,068.9 1,878.3 512.4 1,900.0
(Operating Income
Ratio) (%) (8.1) (8.1) (8.1) (9.0) (10.2) (9.6) (8.9) (9.1) (8.5)
Geographical Segment
Japan 188.4 197.5 385.9 281.1 408.9 690.0 1,075.9 293.0
North America 137.8 130.7 268.5 127.8 99.3 227.1 495.6 140.1
Europe 16.7 23.4 40.1 26.6 27.2 53.8 93.9 36.5
Asia 39.8 35.6 75.4 38.6 31.5 70.1 145.5 30.0
Others 17.0 19.2 36.2 14.7 16.3 31.0 67.2 15.9
Elimination 5.4 -2.1 3.3 -6.6 3.5 -3.1 0.2 -3.1
Business Segment
Automotive 366.8 354.5 721.3 427.3 545.4 972.7 1,694.0 459.4
Financial Services 39.7 43.8 83.5 46.8 25.5 72.3 155.8 47.7
All Other 1.5 8.3 9.8 11.5 18.4 29.9 39.7 5.2
Elimination -2.9 -2.3 -5.2 -3.4 -2.6 -6.0 -11.2 0.1
Income before taxes 421.8 434.1 855.9 639.9 591.5 1,231.4 2,087.3 554.6 1,970.0
(billions of yen)
(Income before taxes
Ratio) (%) (8.5) (8.7) (8.6) (12.0) (10.3) (11.1) (9.9) (9.8) (8.8)
Equity in Earnings of
Affiliated 35.6 35.1 70.7 45.8 47.8 93.6 164.3 56.2
Companies (billions of yen)
Net Income (billions of yen) 266.8 303.7 570.5 397.5 404.1 801.6 1,372.1 371.5 1,310.0
(Net Income Ratio) (%) (5.4) (6.1) (5.7) (7.5) (7.0) (7.2) (6.5) (6.6) (5.9)
FY2006 FY2007
(Note 1) (Note 1) (Note 1) FY2006 Prospects
1Q 2Q 1st Half 3Q 4Q 2nd Half 12 mos. 1Q ending
ended March March
31, 2006 31, 2007
Research & Development 180.4 192.7 373.1 211.4 228.1 439.5 812.6 207.9 920.0
(billions of yen)
Depreciation
(billions of yen) 190.7 210.2 400.9 236.2 254.3 490.5 891.4 225.9 930.0
(Note 3)
Geographical Segment
Japan 115.2 132.9 248.1 150.9 169.9 320.8 568.9 146.3 590.0
North America 38.6 39.1 77.7 46.2 41.2 87.4 165.1 38.4 165.0
Europe 18.4 19.5 37.9 18.5 19.5 38.0 75.9 20.0 80.0
Asia 11.0 10.9 21.9 11.9 14.2 26.1 48.0 13.2 55.0
Others 7.5 7.8 15.3 8.7 9.5 18.2 33.5 8.0 40.0
Capital Expenditures 265.3 430.5 695.8 365.0 468.0 833.0 1,528.8 325.8 1,550.0
(billions of yen) (Note 3)
Geographical Segment
Japan 157.6 285.7 443.3 208.5 257.5 466.0 909.3 158.6 850.0
North America 44.8 65.3 110.1 67.9 92.3 160.2 270.3 92.2 330.0
Europe 31.8 30.7 62.5 31.4 36.6 68.0 130.5 23.1 130.0
Asia 23.2 35.1 58.3 34.5 39.1 73.6 131.9 28.3 135.0
Others 7.9 13.7 21.6 22.7 42.5 65.2 86.8 23.6 105.0
Total Liquid Assets 3,697.7 3,830.8
(billions of yen) (Note 4)
Free Cash Flow
(billions of yen) 324.7 349.0
(Note 5)
Total Assets
(billions of yen) 25,103.6 26,257.5 27,545.1 28,731.5 28,743.3
Shareholders' Equity 9,167.6 9,692.7 10,194.4 10,560.4 10,452.9
(billions of yen)
Return on Equity (%) 11.7 12.2 16.0 14.0 14.1
Return on Asset (%) 4.3 4.5 5.9 5.2 5.2
Number of Consolidated 529 523
Subsidiaries
Number of Affiliates 57 56
Accounted
for Under the Equity Method
Contributing Factors to Operating Income
FY2007 1Q (billions of yen, approximately) Consolidated Unconsolidated
Marketing Efforts 60.0 40.0
Cost Reduction Efforts 20.0 10.0
From Engineering 10.0 5.0
From Manufacturing and Logistics 10.0 5.0
Effects of Changes in Exchange Rates 100.0 80.0
Increases in Expenses -72.7 -26.8
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
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 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 on file with the United States
Securities and Exchange Commission.
Supplementary Material for Financial Results for the 3 months ended June 30,
2006 (Unconsolidated)
FY2003 FY2004 FY2005
6 mos. ended 12 mos. ended 6 mos. ended 12 mos. ended 6 mos. ended 12 mos. ended
Sep. 30, 2002 March 31, 2003 Sep. 30, 2003 March 31, 2004 Sep. 30, 2004 March 31, 2005
Vehicle Production 1,676 3,513 1,682 3,558 1,802 3,749
(thousands of units)
Vehicle Sales
(thousands of units) 1,691 3,559 1,720 3,625 1,805 3,787
Japan 800 1,724 830 1,765 838 1,805
Exports 891 1,835 890 1,860 967 1,982
North America 414 841 398 811 412 864
Europe 182 392 198 419 197 420
Asia 80 165 71 151 82 151
Latin America 34 71 28 61 38 78
Oceania 71 137 78 158 89 164
Africa 30 56 28 65 45 93
Middle East 76 166 86 188 99 203
Others 4 7 3 7 5 9
Net Sales (billions of yen) 4,204.7 8,739.3 4,302.1 8,963.7 4,459.7 9,218.3
Japan 1,607.3 3,438.4 1,667.5 3,593.1 1,723.0 3,654.9
Exports 2,597.4 5,300.8 2,634.5 5,370.5 2,736.7 5,563.4
Operating Income
(billions of yen) 471.3 861.3 459.1 833.7 392.3 701.3
(Operating
Income Ratio) (%) (11.2) (9.9) (10.7) (9.3) (8.8) (7.6)
Ordinary Income
(billions of yen) 481.7 892.6 510.5 915.7 442.3 856.2
(Ordinary Income
Ratio) (%) (11.5) (10.2) (11.9) (10.2) (9.9) (9.3)
Net Income
(billions of yen) 382.2 634.0 338.0 581.4 263.7 529.3
(Net Income Ratio) (%) (9.1) (7.3) (7.9) (6.5) (5.9) (5.7)
Shareholders Return
Dividend Payout
(billions of yen) 56.8 125.8 67.9 151.2 82.0 212.7
Dividend Per Share (yen) 16 36 20 45 25 65
Payout Ratio (%) 14.9 19.8 20.1 26.0 31.1 40.5
Value of shares canceled 143.0 143.0 - - - -
(billions of yen)
Shareholder Return
(%) (Note 6) 52.3 42.4 20.1 26.0 31.1 40.5
Value of shares
repurchased 163.3 453.4 161.7 398.8 208.4 266.2
(billions of yen)
Number of Outstanding
Shares 3,609,997 3,609,997 3,609,997 3,609,997 3,609,997 3,609,997
(thousands)
Number of Employees
(Note 2) 66,874 65,551 66,099 65,346 64,408 64,237
FY2006 FY2007 Prospects
6 mos. ended Sep. 30, 12 mos. ended March 6 mos. ending 12 mos. ending
2005 31, 2006 Sep. 30, 2006 March 31, 2007
Vehicle Production
(thousands of units) 1,798 3,863 2,000 4,100
Vehicle Sales (thousands of units) 1,808 3,895 2,000 4,130
Japan 806 1,769 820 1,780
Exports 1,002 2,126 1,180 2,350
North America 470 1,053 660 1,270
Europe 167 352 140 350
Asia 66 122 60 120
Latin America 46 82 50 90
Oceania 85 160 90 170
Africa 51 106 60 120
Middle East 114 244 120 230
Others 3 7
Net Sales (billions of yen) 4,664.0 10,191.8 5,200.0 11,000.0
Japan 1,671.7 3,679.8
Exports 2,992.2 6,511.9
Operating Income (billions of yen) 297.6 847.9 370.0 880.0
(Operating Income Ratio) (%) (6.4) (8.3) (7.1) (8.0)
Ordinary Income (billions of yen) 416.6 1,104.7 560.0 1,230.0
(Ordinary Income Ratio) (%) (8.9) (10.8) (10.8) (11.2)
Net Income (billions of yen) 283.6 765.9 380.0 850.0
(Net Income Ratio) (%) (6.1) (7.5) (7.3) (7.7)
Shareholders Return
Dividend Payout (billions of yen) 113.8 292.1
Dividend Per Share (yen) 35 90
Payout Ratio (%) 40.2 38.3
Value of shares canceled (billions of yen) - -
Shareholder Return (%) (Note 6) 40.2 38.3
Value of shares repurchased (billions of yen) 61.7 133.6
Number of Outstanding Shares (thousands) 3,609,997 3,609,997
Number of Employees (Note 2) 65,994 65,798
(Note 1) 2Q = 1st Half - 1Q , 2nd Half = FY - 1st Half , 4Q = 2nd Half - 3Q
(Note 2) Part-time employees (i.e. seasonal workers) are counted in the figure,
along with full-time employees.
(Note 3) Figures for depreciation and capital expenditures do not include
vehicles in operating lease.
(Note 4) Excluding financial subsidiaries
(Note 5) Calculation: Cash flows from operating activities + Cash flows from
investing activities (excluding financial entities)
(Note 6) Calculation: (Dividend payout + Value of shares canceled) / Net
income
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
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 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 on file with the United States
Securities and Exchange Commission.
This information is provided by RNS
The company news service from the London Stock Exchange
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