Toyota Motor Corp. · TSE:7203
Toyota Motor — FY2023 Earnings Presentation
27 slides from Toyota Motor's earnings presentation, May 10, 2023
Slide 1: FY2023 Financial Results
FY2023 Financial Results LEXUS RZ450e To y o t a M o t o r C o r p o r a t i o n May 10, 2023 1
Slide 2: Cautionary Statement with Respect to Forward-Looking Statements
Cautionary Statement with Respect to Forward-Looking Statements and Caution Concerning Insider Trading 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 u
Slide 3: Summary
Summary FY2023 Results：Operating income 2 trillion 725 billion yen ・While production plans fluctuated greatly due to the effects of tight semiconductor supplies, natural disasters, and COVID-19, etc., dealers, suppliers and production sites have worked hard, leading to an increase of sales volume in
Slide 4: FY2023 Financial Performance
FY2023 Financial Performance 4
Slide 5: Consolidated Vehicle Sales
Consolidated Vehicle Sales (thousands of vehicles) 10,000 8,230 8,822 107.2％ Japan 8,000 N. America 2,069 107.5％ 1,924 Europe 6,000 2,394 2,407 100.5％ Asia 4,000 1,030 101.3％ Other 1,017 Central and 2,000 1,543 1,751 113.5％ South America, Oceania, Africa, 1,352 1,565 115.8％ The Middle East, etc. 0 '
Slide 6: Consolidated Financial Summary
Consolidated Financial Summary (billions of yen) '21.4-'22.3 '22.4-'23.3 Change Sales Revenues 31,379.5 37,154.2 +5,774.7 Operating Income 2,995.6 2,725.0 -270.6 Margin 9.5% 7.3% Other Income 994.8 943.7 -51.1 Share of Profit (Loss) of Investments Accounted for Using the Equity Method 560.3 643.0 *
Slide 7: Analysis of Consolidated Operating Income
Analysis of Consolidated Operating Income (billions of yen) Excluding the overall impact of foreign exchange rates and swap valuation gains/losses, etc.： -1,135.0 2,995.6 2,725.0 +1,280.0 -1,290.0 +680.0 -525.0 Effects of Cost Marketing Increase or -415.6 FOREX Reduction Efforts *2 Decrease in Other
Slide 8: Geographic Operating Income
Geographic Operating Income Operating Income (billions of yen) (excluding Valuation Gains/Losses relating to Swaps, etc.) [ ] Margin Consolidated Vehicle Sales (thousands of vehicles) Japan N. America Europe Asia Other Incl. China (excl. investments accounted 2,394 2,407（100.5%） for using the equity
Slide 9: China Business / Financial Services
China Business / Financial Services (Ref.) China Business Financial Services Operating Income of Subsidiaries (billions of yen) Operating Income (billions of yen) Share of Profit of Investments Accounted for Using the Equity ＊ Excluding Valuation Gains/Losses relating to Swaps, etc. Method of Associ
Slide 10: Shareholder Return
Shareholder Return TOYOTA 10
Slide 11: Dividends
'19.3 ：US GAAP Dividends '20.3-'23.3：IFRS ◼ Revised the policy to “increase dividends stably and continuously" in order to reward long-term shareholders. ◼ Year-end dividend is 35 yen per share. Total full-year dividends are 60 yen per share (+8 yen YoY) . +8 (yen) +4 60 Year-end Dividend * 60 +4 48
Slide 12: Share Repurchases
'19.3 ：US GAAP Share Repurchases '20.3-'23.3：IFRS ◼ Revised the policy to "Conduct flexibly taking into account our share price levels etc". ◼ Set aside 150 billion yen as the maximum limit of year-end repurchase (Considering the current share price level, set aside equal to the interim.) 6,000 （bil
Slide 13: FY2024 Financial Forecasts
FY2024 Financial Forecasts 13
Slide 14: Production Volume Forecast (Toyota & Lexus)
Production Volume Forecast (Toyota & Lexus) Japan (thousands of vehicles) Overseas 10,100 110.6% 10,000 9,130 8,741 8,570 3,250 8,183 8,000 116.6% 2,787 3,304 2,761 2,919 6,000 4,000 6,343 6,850 108.0% 5,437 5,264 5,809 2,000 0 Compared to FY2023 Actual FY2024 Forecast '22.4- '23.3 '23.4- ‘24.3 prev
Slide 15: FY2024 Production Forecast (10.1 million units)
FY2024 Production Forecast (10.1 million units) ■ Together with our suppliers, we have been working on, with respects to semiconductors, negotiations and examination of alternatives in light of supply risks in the future, as well as on promoting improvements aimed at improving operating rates at fac
Slide 16: FY2024 Forecast: Consolidated Vehicle Sales
FY2024 Forecast: Consolidated Vehicle Sales (thousands of vehicles) 10,000 9,600 108.8% 8,822 Japan 8,000 2,320 112.1% N. America 2,069 Europe 6,000 2,660 110.5% 2,407 Asia 4,000 1,030 1,130 109.7% Other Central and 1,751 1,870 106.8% South America, 2,000 Oceania, 1,565 1,620 103.5% Africa, 0 The Mi
Slide 17: FY2024 Forecast: Consolidated Financial Summary
FY2024 Forecast: Consolidated Financial Summary （billions of yen） FY2023 Results FY2024 Forecast '22.4-'23.3 Change '23.4-’24.3 Sales Revenues 37,154.2 38,000.0 +845.8 Operating Income 2,725.0 3,000.0 +275.0 Margin 7.3% 7.9% Other Income 943.7 690.0 -253.7 Share of Profit (Loss) of Investments Accou
Slide 18: Analysis of FY2024 Forecast: Consolidated Operating Income
Analysis of FY2024 Forecast: Consolidated Operating Income (billions of yen) Excluding the overall impact of foreign exchange rates and swap valuation gains/losses, etc： +875.0 3,000.0 2,725.0 Which includes: Soaring Materials Prices -510.0 -260.0 +275.0 Cost Reduction +360.0 Increase or Other *5 De
Slide 19: Profit Structure
Profit Structure ■ As an effect of our long-standing product-centered and region-centered approach, we became able to offset the impact of soaring materials costs through TPS/cost reductions and marketing efforts, as well as to create a foundation that will allow us to steadily increase investment i
Slide 20: (Ref.) Consolidated Vehicle Sales (3 months)
(Ref.) Consolidated Vehicle Sales (3 months) （thousands of vehicles） 2,500 2,331 109.2% Japan 2,134 N.America 2,000 498 668 134.2% Europe 1,500 Asia 589 555 94.1% Other 1,000 257 273 106.3% Central and South America, 500 425 458 107.8% Oceania, Africa, 366 378 103.3% The Middle East, 0 etc. '22.1-3
Slide 21: (Ref.) Consolidated Financial Summary (3 months)
(Ref.) Consolidated Financial Summary (3 months) (billions of yen) '22.1-3 '23.1-3 Change Sales Revenues 8,112.4 9,690.2 +1,577.7 Operating Income 463.8 626.9 +163.0 Margin 5.7% 6.5% Other Income 289.1 172.5 -116.5 Share of Profit (Loss) of Investments Accounted for Using the Equity Method 144.8 168
Slide 22: (Ref.) Analysis of Consolidated Operating Income (3 months)
(Ref.) Analysis of Consolidated Operating Income (3 months) (billions of yen) Excluding the overall impact of foreign exchange rates and swap valuation gains/losses, etc.： -80.0 626.9 -110.0 +8.0 Increase or Other *4 463.8 Decrease in +235.0 Expenses and Effects of Expense Reduction FOREX -350.0 +38
Slide 23: (Ref.) Geographic Operating Income (3 months)
(Ref.) Geographic Operating Income (3 months) Operating Income (billions of yen) (excluding Valuation Gains/Losses relating to Swaps, etc.) [ ] margin Consolidated Vehicle Sales (thousands of vehicles) Japan N.America Europe Asia Other Incl. China (excl. investments accounted 668（134.2%） 589 for usi
Slide 24: (Ref.) China Business / Financial Services (3 months)
(Ref.) China Business / Financial Services (3 months) (Ref.) China Business Financial Services Operating Income of Chinese Subsidiaries (billions of yen) Operating Income (billions of yen) Share of Profit of Investments Accounted for Using the Equity ＊ Excluding Valuation Gains/Losses relating to Sw
Slide 25: (Ref.) Transition of Financial Performance
(Ref.) Transition of Financial Performance Net Income Attributable to Consolidated Vehicle Sales Sales Revenues (trillions of yen) Operating Income (billions of yen) Toyota Motor Corporation (thousands of vehicles) Operating Margin (%) (billions of yen) 37.2 38.0 9.5 9,600 Net Margin (%) 8,955 8,822
Slide 26: (Ref.) FY2024 Forecast: Vehicle Production and Retail Sales
(Ref.) FY2024 Forecast: Vehicle Production and Retail Sales （thousands of vehicles） FY23 Results FY24 Forecast Change '22.4-'23.3 ‘23.4-’24.3 Japan 2,787 3,250 +463 Vehicle 生産 Overseas Production * 6,343 6,850 +507 Toyota & Lexus Total 9,130 10,100 +970 Japan 1,407 1,650 +243 Retail Vehicle Overseas
Slide 27: (Ref.) Definitions of Consolidated and Retail Vehicle Sales
(Ref.) Definitions of Consolidated and Retail Vehicle Sales Daihatsu- and Hino- brand vehicles Distributors or Dealers outside consolidation Consolidated Vehicle Sales Total Retail Vehicle Sales Customers Toyota and Lexus Vehicle Sales Number of vehicles produced for wholesale by Toyota Motor Corpor