Toyota Boshoku Corp. · TSE:3116
Toyota Boshoku — Q1 FY2024 Earnings Presentation
30 slides from Toyota Boshoku's earnings presentation, Jul 28, 2023
Slide 1: 1st Quarter Financial Results FY2024
TSE Prime Market Securities Code 3116 FY2024 (ending March 2024) 1st Quarter Financial Results Date: July 28, 2023
Slide 2: Financial Results
Financial Results 1. 1st Quarter FY2024 Financial Results 2. FY2024 Financial Forecasts 3. Appendix
Slide 3: 1st Quarter FY2024 Financial Results
Financial Results 1. 1st Quarter FY2024 Financial Results 2. FY2024 Financial Forecasts 3. Appendix
Slide 4: Overview of Consolidated Financial Results
1-1) 1st Quarter FY2024 Financial Results Overview of Consolidated Financial Results （100 million yen） Q1 FY2023 Q1 FY2024 YOY Change Revenue 3,503 100.0% 4,754 100.0% 1,251 35.7% Operating Profit 34 1.0% 221 4.7% 187 551.0% Profit before income taxes 75 2.2% 253 5.3% 178 236.1% Profit* △13 △0.4% 12
Slide 5: Seat Production by Region
1-2) 1st Quarter FY2024 Financial Results Seat Production by Region Total By Region （10,000 Units） +40 （10,000 Units） YOY Change +22.7% 1Q 1Q Pct Change FY23 FY24 217 177 +24 +40.3% +1 +4 +1.3% +6 83 +11.7% +22.4% +6 59 +31.5% 32 35 39 40 29 35 18 24 1Q FY23 1Q FY24 Japan The China Asia & Europe& Am
Slide 6: Consolidated Revenue & Operating Profit
1-3) 1st Quarter FY2024 Financial Results Consolidated Revenue & Operating Profit Profit increased due higher production and change in the vehicle mix despite increase in overhead costs Volume & Model Mix Operating Profit Variance Analysis （100 million yen） Improving employee (10,000 units) Changes
Slide 7: Japan Revenue & Operating Profit
1-3) 1st Quarter FY2024 Financial Results Japan Revenue & Operating Profit Profit increased due higher production and change in the vehicle mix despite increase in overhead costs Volume & Model Mix Operating Profit Variance Analysis （100 million yen） Changes in product (10,000 units) prices△5 Improv
Slide 8: The Americas Revenue & Operating Profit
1-3) 1st Quarter FY2024 Financial Results The Americas Revenue & Operating Profit Profit increased due higher production and change in the vehicle mix despite increase in overhead costs from new products launch Volume & Model Mix Operating Profit Variance Analysis Changes in （100 million yen） produc
Slide 9: China Revenue & Operating Profit
1-3) 1st Quarter FY2024 Financial Results China Revenue & Operating Profit Profit increased due to change in the vehicle mix as new products have launched last year despite increase in overhead costs Volume & Model Mix Operating Profit Variance Analysis （100 million yen） +1 (10,000 units) Improving
Slide 10: Asia & Oceania Revenue & Operating Profit
1-3) 1st Quarter FY2024 Financial Results Asia & Oceania Revenue & Operating Profit Profit increased due to higher volume from sales promotion in Indonesia and India as well as cost reduction Volume & Model Mix Operating Profit Variance Analysis （100 million yen） (10,000 units) Wage up△1 Forex impac
Slide 11: Europe & Africa Revenue & Operating Profit
1-3) 1st Quarter FY2024 Financial Results Europe & Africa Revenue & Operating Profit Profit increased as volume recovered from the shutdown in South Africa in the previous year in addition to change in model mix and impacts of the Russian business Volume & Model Mix Operating Profit Variance Analysi
Slide 12: FY2024 Financial Forecasts
Financial Results 1. 1st Quarter FY2024 Financial Results 2. FY2024 Financial Forecasts 3. Appendix
Slide 13: Overview of Consolidated Financial Forecasts
2-1) FY2024 Financial Forecasts Overview of Consolidated Financial Forecasts （100 million yen） FY24 FY24 Forecasts FY23 Actual YOY Change Forecasts (Initially Announced) Revenue 16,040 100.0% 18,000 100.0% 1,959 12.2% 16,800 100.0% Operating Profit 476 3.0% 690 3.8% 213 44.7% 530 3.2% Profit before
Slide 14: Seat Assembly Production by Region
2-2) FY2024 Financial Forecasts Seat Assembly Production by Region Total By Region +76 （10,000 Units） （10,000 Units） +9.7% YOY Change FY23 FY24 Pct Change 860 Actual Forecast 784 +44 +15.9% 320 △1 △0.9% +17 276 +9 +6.8% +12.2% +8 +9.6% 135 156 155 143 160 126 82 90 FY23 The Asia & Europe& FY24 Japan
Slide 15: Consolidated Revenue & Operating Profit Forecast
2-3) FY2024 Financial Forecasts Consolidated Revenue & Operating Profit Higher profits due to volume increase and change in the vehicle mix despite increase in overhead costs including upfront investments for the future Volume & Model Mix Operating Profit Variance Analysis (10,000 units) Changes in
Slide 16: Comparison with the original Forecast
2-3) FY2024 Financial Forecasts Comparison with the original Forecast Operating Profit variance analysis （100 million yen） Originally 1Q Difference announced announced Total Internal Environmental effort change exc. FY23 Actual Russian business 548 548 - - - Volume 138 242 +104 +104 Mix △1 47 +48 +8
Slide 17: Revenue & Operating Profit by Region: Japan, Americas
2-4) FY2024 Financial Forecasts Revenue & Operating Profit by Region Japan The Americas Higher profit due to production increase Higher profit due to production increase and change in the vehicle mix despite from new models and their new product impacts of APA in the previous year as effects despite
Slide 18: Revenue & Operating Profit by Region: China, Asia & Oceania
2-4) FY2024 Financial Forecasts Revenue & Operating Profit by Region China Asia & Oceania Lower profit due to stagnant volume Higher profit due to production growth due to changes in the market increase from sales promotion in besides increase in expenses from Indonesia & India in addition to APA la
Slide 19: Revenue & Operating Profit by Region: Europe & Africa
2-4) FY2024 Financial Forecasts Revenue & Operating Profit by Region Europe & Africa Higher profit due to production increase and impacts of the Russian business in the previous year despite increase in market price and expenses Volume & Model Mix (10,000 units) +8 90 82 <+9.6%> Compact 72 (87.9%) S
Slide 20: 1st/2nd Half by Region
2-5) FY2024 Financial Forecasts 1st/2nd Half by Region Revenue （100 million yen） 1st Half 2nd Half Full Year Japan 4,600 4,400 9,000 The Americas 2,200 1,900 4,100 China 1,200 1,000 2,200 Asia & Oceania 1,300 1,300 2,600 Europe & Africa 600 550 1,150 Total 9,400 8,600 18,000 Operating Profit （100 mi
Slide 21: Returning to Shareholders
2-6) FY2024 Financial Forecasts Returning to Shareholders ■ For FY24, dividends plan is ¥35 for interim and FY-end respectively, total ¥70 to continue long-term stable dividend ■ To be determined based on comprehensive evaluation of future forecasts Trends in dividend, operating profit, &profit attr
Slide 22: Concluding 1st Quarter FY2024 Financial Results
2-7) Concluding 1st Quarter FY2024 Financial Results 【1Q Results】 Operating profit has progressed at a higher pace than previously announced due to a recovering vehicle mix in addition to that the effect of increased production was steadily built up 【Forecast after 2Q】 While a trend of increasing pr
Slide 23: Appendix
Financial Results 1. 1st Quarter FY2024 Financial Results 2. FY2024 Financial Forecasts 3. Appendix
Slide 24: Quarterly Trends: Consolidated
Appendix1) Quarterly Trends: Consolidated volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue Seat Assembly Production (10,000 units) (100 million yen) 8,000 217 206 201 207 201 194 189 195 195 199 220 193 190 183 177 169 153 4,754 119 3,828 3,865 4,114 4,348
Slide 25: Quarterly Trends: Japan
Appendix2) Quarterly Trends: Japan volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 4,000 85 85 100 84 80 83 79 79 76 79 75 68 67 69 68 2,076 2,070 62 59 2,265 2,290 1,904 1,846 1,856 50 1,813 1,882 1,885 1,764 1,815 1,749
Slide 26: Quarterly Trends: The Americas
Appendix3) Quarterly Trends: The Americas volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 2,000 50 34 35 33 35 32 33 32 32 31 31 30 30 29 27 27 29 1,070 1,149 1,000 854 863 896 881 1,039 25 724 727 709 752 718 786 653 624
Slide 27: Quarterly Trends: China
Appendix4) Quarterly Trends: China volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 2,000 80 43 44 38 38 39 40 39 39 40 40 35 36 34 1,000 32 31 30 40 646 600 673 628 468 19 482 595 628 548 427 389 464 446 445 428 411 254 0
Slide 28: Quarterly Trends: Asia & Oceania
Appendix5）Quarterly Trends: Asia & Oceania volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 2,000 60 39 40 34 35 35 40 32 28 28 29 1,000 24 24 26 25 23 21 19 634 697 638 624 488 528 556 525 20 466 459 389 459 444 417 401 10
Slide 29: Quarterly Trends: Europe & Africa
Appendix6) Quarterly Trends: Europe & Africa volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 1,000 40 23 23 23 24 22 21 22 22 21 19 20 20 20 17 18 500 20 13 306 322 335 10 258 296 232 235 222 251 255 232 216 247 194 210 16
Slide 30: Disclaimer
<Disclaimer> This report contains forecasts and expectations that relate to future plans and strategies in addition to the expected financial results of the Toyota Boshoku Corporation and the Toyota Boshoku group. Within are estimates based on assumptions and opinions that have been formed by the co