Toyota Motor Corp. · TSE:7203
Toyota Motor — H1 FY2008 Earnings Presentation
31 slides from Toyota Motor's earnings presentation, Nov 7, 2007
Slide 1: FY2008 First Half Year Financial Results
FY2008 First Half Year Financial Results six months ended September 30, 2007 -prepared in accordance with U.S.GAAP- Toyota Motor Corporation November 7, 2007
Slide 2: Cautionary Statement with Respect to Forward-Looking Statements
Cautionary Statement with Respect to Forward-Looking Statements 2 This presentation 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 othe
Slide 3: Caution concerning Insider Trading
Caution concerning Insider Trading 3 Under Japanese Financial Instruments and Exchange laws (the “Exchange Law"), 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 t
Slide 4: Takeshi Suzuki
Takeshi Suzuki Senior Managing Director
Slide 5: Consolidated Vehicle Sales
Consolidated Vehicle Sales 5 (thousands of vehicles) 4,145 4,301 (+ 156) 4,000 711 (+ 74) 637 382 452 (+ 70) 3,000 589 635 (+ 46) 2,000 1,464 Other 1,497 (+ 33) Asia Europe 1,000 N. America 1,073 Japan 1,006 (- 67) 0 change '06/4-9 '07/4-9 [4,460] [4,701] [+241] -Figures in square brackets show tota
Slide 6: Consolidated Financial Summary
Consolidated Financial Summary 6 (billions of yen) FY2008 1H FY2007 1H Change (’07/4-9) (’06/4-9) Net Revenues 13,012.2 11,471.8 1,540.4 13.4% Operating Income 1,272.1 1,093.4 178.7 16.3% Income before income taxes, minority interest and equity earnings of affiliated companies 1,362.2 1,166.1 196.1
Slide 7: Rapid Growth of Net Income
Rapid Growth of Net Income 7 (billions of yen) 1,644.0 1,500 1,372.1 [Annual] 1,162.0 1,171.2 1,000 500 942.4 777.2 [1H] 524.4 584.0 570.5 0 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '07/4-'08/3
Slide 8: Shareholder Return
Shareholder Return 8 Interim Dividend: 65 yen per share (change: +15 yen) Total Amount of Payout : 207.0 billion yen Consolidated Payout Ratio: 22.0% (change: +1.3%) 120 90 70 65 65 55 45 36 40 25 28 25 65 20 50 14 15 35 20 25 11 13 16 '00/4-'01/3 '01/4-'02/3 '02/4-'03/3 '03/4-'04/3 '04/4-'05/3 '05/
Slide 9: Shareholder Return
Shareholder Return 9 Share Buyback Authorized Amount 250.0 billion yen / 30 million shares (’07/6 – ’08/6) Amount Exercised: 36.4 billion yen / 5 million shares Amount Announced Today 110.0 billion yen / 15 million shares (up to) : - Share buyback results (billions of yen) 400 300 200 453.4 398.8 26
Slide 10: Consolidated Financial Summary
Consolidated Financial Summary 10 (billions of yen) FY2008 1H FY2007 1H Change (’07/4-9) (’06/4-9) Net Revenues 13,012.2 11,471.8 1,540.4 13.4% Operating Income 1,272.1 1,093.4 178.7 16.3% Income before income taxes, minority interest and equity earnings of affiliated companies 1,362.2 1,166.1 196.1
Slide 11: Consistent Growth of Operating Income
Consistent Growth of Operating Income 11 (billions of yen) 2,238.6 2,000 1,878.3 570.5 1,666.8 1,672.1 586.7 1,500 383.0 [4Q] 497.5 574.7 1,272.1 422.9 482.2 1,000 [3Q] 401.6 596.7 581.0 417.6 404.3 500 [2Q] 427.0 675.4 448.6 405.1 512.4 [1Q] 340.7 0 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '
Slide 12: Contributing Factors to Consolidated Operating Income
Contributing Factors to Consolidated Operating Income 12 Cost Reduction Efforts (billions of yen) Marketing Efforts + 50.0 1,272.1 +130.0 1,300 (+ 178.7) Increases in Expenses -151.3 1,200 1,100 1,093.4 1,000 Effects of favorable FOREX rates 900 + 150.0 800 '06/4-9 '07/4-9 < Details of Increases in
Slide 13: Geographic Operating Income: Japan
Geographic Operating Income: Japan 13 2900 Consolidated 2700 2,450 2,429 thousands of vehicles 2500 Vehicle Production 2300 2100 1900 1700 Consolidated 1500 1,073 1,006 thousands of vehicles 1300 Vehicle 1100Sales 900 (billions of yen) 800 773.3 684.4 600 +88.9 billion yen LS600hL Premio 400 200 Mar
Slide 14: Geographic Operating Income: North America
Geographic Operating Income: North America 14 1,497 thousands of vehicles Consolidated 1,464 Vehicle Sales (billions of1400 yen) 250.5 254.1 200 +3.6 billion yen Prius Tundra 100 Scion xD Highlander 0 '06/4-9 '07/4-9 - Vehicle sales growth driven by the new Tundra and Prius - A high level of Operati
Slide 15: Geographic Operating Income: Europe
Geographic Operating Income: Europe 15 750 635 thousands of vehicles Consolidated 589 Vehicle Sales (billions of550 yen) 80 66.0 68.3 60 +2.3 Aygo Yaris 40 billion yen 20 RAV4 Auris 0 '06/4-9 '07/4-9 - Favorable sales of new models such as Auris and Corolla - Strong sales in Russia of highly profita
Slide 16: Geographic Operating Income: Asia
Geographic Operating Income: Asia 16 452 thousands of vehicles Consolidated 382 Vehicle Sales (billions of yen) 350 120 116.7 Ban Pho plant, Thailand 100 +55.4 billion yen 80 61.3 Innova Fortuner 60 40 20 0 Lexus ES '06/4-9 '07/4-9 - Vehicle sales grew strongly the reflecting overall recovery of the
Slide 17: Geographic Operating Income: Other
Geographic Operating Income: Other 17 750 711 thousands of vehicles Consolidated 637 Vehicle Sales (billions of yen) 550 80 71.7 60 +35.6 billion yen Hilux VIGO 40 36.1 20 Corolla Flex Camry 0 '06/4-9 '07/4-9 - Vehicle sales expanding thanks to the continuing popularity of IMV and the re-modeled Cam
Slide 18: Business Segment: Financial Services
Business Segment: Financial Services 18 (billions of yen) 79.9 77.8 80 60 -2.1 billion yen 40 20 0 TS CUBIC Card QUIC Pay '06/4-9 '07/4-9 - Outstanding loan balance steadily grew as vehicle sales increasing - Operating income increased by 1.6 billion yen excluding 3.7 billion yen valuation loss on i
Slide 19: Equity Earnings of Affiliated Companies
Equity Earnings of Affiliated Companies 19 (billions of yen) 150 145.1 +55.7 billion yen 100 89.4 Camry Guangzhou Toyota Motor 50 0 '06/4-9 '07/4-9 New Corolla Line-off Ceremony Tianjin FAW Toyota Motor’s third plant China 3.4 +27.0 30.4 (included billion yen billion yen above) billion yen - Strong
Slide 20: Unconsolidated Financial Summary (Japan GAAP)
Unconsolidated Financial Summary (Japan GAAP) 20 (billions of yen) FY2008 1H FY2007 1H Change (’07/4-9) (’06/4-9) Net Revenues 5,737.1 5,470.3 266.8 4.9% Operating Income 609.7 571.0 38.7 6.8% Ordinary Income 852.4 778.2 74.2 9.5% Net Income 601.9 525.8 76.1 14.5%
Slide 21: Contributing Factors to Unconsolidated Operating Income
Contributing Factors to Unconsolidated Operating Income 21 (billions of yen) 700 Increases in Expenses Cost Reduction Efforts Marketing Efforts 609.7 - 171.3 + 30.0 + 30.0 (+ 38.7) 600 571.0 500 Effect of favorable 400 FOREX Rates + 150.0 300 '06/4-9 '07/4-9 <Details of Increases in Expenses> R&D ex
Slide 22: Major Activities in Growing Markets
Major Activities in Growing Markets (Resource-rich / Emerging countries, etc.) - Operating Income - Equity Earnings of Affiliated Companies in Asia and Other regions in China (billions of yen) (billions of yen) 30 2,127 2,011 200 241 150 1,412 20 30.4 100 969 188.5 111 10 111.6 73 72 50 97.4 70.9 53
Slide 23: South East Asia
South East Asia 23 Building a solid profit structure through the optimal supply system Europe -Vehicle production (Thailand, Indonesia) (thousands Middle East Latin America of vehicles) For outside r egion For inside r egion 400 200 Thailand 0 CY 2002 2003 2004 2005 2006 - Total operating income of
Slide 24: Latin America
Latin America 24 Achieving high profitability with integrated regional operations -Vehicle sales and production (thousands Sales Venezuela of vehicles) Production 200 100 Brazil 0 Corolla Flex CY 2002 2003 2004 2005 2006 2007 estimated Argentina -Total operating income of major subsidiaries Hilux be
Slide 25: China
China 25 Foundation has been steadily reinforced to enable rapid growth in vehicle sales and earnings Distribution of imported vehicles -Vehicle sales and production (thousands Sales of vehicles) Production Lexus ES Beijing Changchun 400 Lexus ES Tianjin FAW alliance 200 0 CY 2002 2003 2004 2005 200
Slide 26: Consolidated Prospects: Vehicle Sales
Consolidated Prospects: Vehicle Sales 26 (thousands of vehicles) 8,930 (+ 406) 9,000 8,524 8,000 1,520 (+ 224) 1,296 7,000 789 910 (+ 121) 6,000 1,224 1,270 (+ 46) 5,000 4,000 2,942 2,990 (+ 48) Other 3,000 Asia Europe 2,000 N.America 2,273 2,240 (- 33) Japan 1,000 0 '06/4-'07/3 '07/4-'08/3 (revised
Slide 27: FY2008 Consolidated Prospects
FY2008 Consolidated Prospects 27 (billions of yen) FY2008 FY2007 Change (’07/4-’08/3) (’06/4-’07/3) Net Revenues 25,500.0 23,948.0 1,552.0 6.5% Operating Income 2,300.0 2,238.6 61.4 2.7% Income before income taxes, minority interest and equity earnings of affiliated companies 2,450.0 2,382.5 67.5 2.
Slide 28: FY2008 Consolidated Prospects: CAPEX, Depreciation, R&D
FY2008 Consolidated Prospects: CAPEX, Depreciation, R&D 28 (billions of yen) Capital Depreciation Expenditure Expenses R&D Expenses Consolidated 1,500.0 (+ 17.4) 1,020.0 (+ 73.0) 940.0 (+ 49.3) Japan 800.0 (- 15.3) 630.0 (+ 37.5) N. America 400.0 (+ 80.7) 190.0 (+ 24.7) Europe 110.0 (- 9.7) 90.0 (+
Slide 29: FY2008 Unconsolidated Prospects (Japan GAAP)
FY2008 Unconsolidated Prospects (Japan GAAP) 29 (billions of yen) FY2008 FY2007 Change (’07/4-’08/3) (’06/4-’07/3) Net Revenues 12,000.0 11,571.8 428.2 3.7% Operating Income 1,100.0 1,150.9 - 50.9 - 4.4% Ordinary Income 1,590.0 1,555.1 34.9 2.2% Net Income 1,130.0 1,060.1 69.9 6.6%
Slide 30: FY2008 Operations Prospects (Toyota & Lexus)
FY2008 Operations Prospects (Toyota & Lexus) 30 FY2008 FY2007 (’07/4-’08/3) (’06/4-’07/3) (thousands of vehicles) (thousands of vehicles) Japan 4,290 4,185 Vehicle Production Overseas 4,450 3,939 Total 8,740 8,124 Sales (Japan) 1,660 1,659 Exports 2,660 2,597 Sales (Overseas) 6,960 6,443 Housing Sal
Slide 31: FY2008 First Half Year Financial Results
FY2008 First Half Year Financial Results six months ended September 30, 2007 -prepared in accordance with U.S.GAAP- Toyota Motor Corporation November 7, 2007