Toyota Boshoku Corp. · TSE:3116
Toyota Boshoku — Q2 FY2024 Earnings Presentation
32 slides from Toyota Boshoku's earnings presentation, Oct 31, 2023
Slide 1: 2nd Quarter FY2024 Financial Results
TSE Prime Market Securities Code 3116 FY2024 (ending March 2024) 2nd Quarter Financial Results Date: October 31, 2023
Slide 2: Financial Results
Financial Results 1. 2nd Quarter FY2024 Financial Results 2. FY2024 Financial Forecasts 3. Appendix
Slide 3: 2nd Quarter FY2024 Financial Results
Financial Results 1. 2nd Quarter FY2024 Financial Results 2. FY2024 Financial Forecasts 3. Appendix
Slide 4: Overview of Consolidated Financial Results
1-1) 2nd Quarter FY2024 Financial Results Overview of Consolidated Financial Results （100 million yen） 2Q FY2023 2Q FY2024 YOY Change Revenue 7,618 100.0% 9,640 100.0% 2,022 26.5% Operating Profit 128 1.7% 495 5.1% 367 285.4% Profit before income taxes 197 2.6% 550 5.7% 353 178.9% Profit* 20 0.3% 28
Slide 5: Seat Production by Region
1-2) 2nd Quarter FY2024 Financial Results Seat Production by Region Total By Region （10,000 Units） （10,000 Units） +58 YOY Change 2Q 2Q Pct Change +15.2% 435 FY23 FY24 378 +40 +31.2% 168 △6 128 +6 △6.8% +12 +8.9% +18.0% +6 83 78 +15.7% 65 71 64 76 38 44 2Q FY23 2Q FY24 Japan The China Asia & Europe&
Slide 6: Consolidated Revenue & Operating Profit
1-3) 2nd Quarter FY2024 Financial Results Consolidated Revenue & Operating Profit Profit increased due to higher production and a change in the vehicle mix despite an increase in overhead costs Volume & Model Mix Operating Profit Variance Analysis (10,000 units) （100 million yen） YOY Change Changes
Slide 7: Japan Revenue & Operating Profit
1-3) 2nd Quarter FY2024 Financial Results Japan Revenue & Operating Profit Profit increased due to higher production focused on SUV・ MPVs and changes in the vehicle mix despite an increase in overhead costs Volume & Model Mix Operating Profit Variance Analysis (10,000 units) （100 million yen） Change
Slide 8: The Americas Revenue & Operating Profit
1-3) 2nd Quarter FY2024 Financial Results The Americas Revenue & Operating Profit Profit decreased due to an increase in overhead costs resulting from new products launch despite higher production from launch of new cars Volume & Model Mix Operating Profit Variance Analysis (10,000 units) （100 milli
Slide 9: China Revenue & Operating Profit
1-3) 2nd Quarter FY2024 Financial Results China Revenue & Operating Profit Profit increased as the vehicle mix changed following the launch of new products last year despite a decrease in volume due to the rapid shift to BEVs Volume & Model Mix Operating Profit Variance Analysis (10,000 units) （100
Slide 10: Asia & Oceania Revenue & Operating Profit
1-3) 2nd 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 (10,000 units) （100 million yen） Changes in product +1
Slide 11: Europe & Africa Revenue & Operating Profit
1-3) 2nd 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 changes in model mix Volume & Model Mix Operating Profit Variance Analysis (10,000 units) （100 million yen）
Slide 12: FY2024 Financial Forecasts
Financial Results 1. 2nd 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） FY23 FY24 FY24 Forecasts YOY Change Actual Forecasts (previously announced) Revenue 16,040 100.0% 19,700 100.0% 3,659 22.8% 18,000 100.0% Operating Profit 476 3.0% 930 4.7% 453 95.1% 690 3.8% Profit before
Slide 14: Seat Assembly Production by Region
2-2) FY2024 Financial Forecasts Seat Assembly Production by Region Total By Region （10,000 Units） （10,000 Units） +101 YOY Change +12.9% 885 FY23 FY24 Actual Forecast Pct Change 784 +64 +23.1% 340 △6 △4.1% +17 276 +19 +14.7% +12.2% +8 +9.6% 145 156 150 143 160 126 82 90 FY23 FY24 Japan The China Asia
Slide 15: Consolidated Revenue & Operating Profit Forecast
2-3) FY2024 Financial Forecasts Consolidated Revenue & Operating Profit Higher profit is expected due to volume increase, new product effects and changes in the vehicle mix despite an increase in overhead costs including upfront investments for the future Volume & Model Mix Operating Profit Variance
Slide 16: Comparison with the Previous Forecast
2-3) FY2024 Financial Forecasts Comparison with the Previous Forecast Operating Profit variance analysis （100 million yen） 1Q 2Q Difference announced announced Total Internal Environmental efforts changes exc. FY23 Actual Russian business 548 548 - - - Volume 242 328 +86 +86 Mix 47 113 +66 +36 +30 C
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 and changes in the vehicle mix despite increase from new models and changes impacts of APA in the previous year in the vehicle mix 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 a decrease in Higher profit due to production volume caused by the rapid shift to increase from sales promotion in BEVs and changes in the vehicle mix Indonesia & India in addition to APA im
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 from the previous year despite increases in the market price and expenses Volume & Model Mix (10,000 units) +8 90 82 <+9.6%> 72 Compact (8
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 4,624 4,875 9,500 The Americas 2,344 2,555 4,900 China 1,228 1,071 2,300 Asia & Oceania 1,346 1,453 2,800 Europe & Africa 644 655 1,300 Total 9,640 10,059 19,700 Operating Profit （100 m
Slide 21: Returning to Shareholders
2-6) FY2024 Financial Forecasts Returning to Shareholders ■The annual dividend plan is ¥86, increased by ¥16 compared to the previous announcement (¥43 for interim and year-end respectively) ■To be determined based on comprehensive evaluation of future forecasts Trends in dividend, operating profit,
Slide 22: Summary
2-7) FY2024 Financial Forecasts Summary 【2Q Results】 Operating profit progressed at a higher pace than the previous forecast since internal efforts, including sales efforts and streamlined expenses, have been built up. 【Forecast after 3Q】 While a trend of higher production and improving vehicle mix
Slide 23: Appendix
Financial Results 1. 2nd Quarter FY2024 Financial Results 2. FY2024 Financial Forecasts 3. Appendix
Slide 24: Status of the Consolidated Statement of Financial Position
Appendix1) Status of the Consolidated Statement of Financial Position (Sep.30, 2023) :Compared to the previous Current assets year end (100 million yen) 656.2 billion yen ↓ Liabilities 570.4 billion yen 708.4 billion yen +328 ↓ +521 ・increase in operating receivables and inventories 603.3 billion ye
Slide 25: Consolidated Cash Flows
Appendix2）Consolidated Cash Flows Cash flows from operating activities: +47.2 billion yen year-over-year 809 Free cash flows: +31.5 billion yen year-over-year 483 336 Major factors 167 ・cash increased due to higher profits etc. Cash flows from investing activities: △15.6 billion yen year-over-year △
Slide 26: Quarterly Trends: Consolidated
Appendix3) Quarterly Trends: Consolidated volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue Seat Assembly Production (10,000 units) (100 million yen) 8,000 217 218 206 201 207 201 194 189 195 195 199 220 193 190 183 177 169 153 4,754 4,885 119 4,114 4,348 3
Slide 27: Quarterly Trends: Japan
Appendix4) Quarterly Trends: Japan volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 4,000 85 85 85 100 84 80 83 79 79 76 79 75 68 67 69 68 62 2,290 2,333 2,076 2,070 59 2,265 1,904 1,846 1,856 50 1,813 1,882 1,885 1,764 1,8
Slide 28: Quarterly Trends: The Americas
Appendix5) 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 35 32 33 32 32 31 31 30 30 29 27 27 29 1,194 1,070 1,149 1,000 854 863 896 881 1,039 25 724 727 709 752 718 786
Slide 29: Quarterly Trends: China
Appendix6) 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 38 35 36 34 1,000 32 31 30 40 646 600 673 628 599 468 19 482 595 628 548 427 389 464 446 445 428 411
Slide 30: Quarterly Trends: Asia & Oceania
Appendix7) 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 40 34 35 35 40 32 28 28 29 1,000 24 24 26 25 23 21 722 19 556 634 697 638 624 466 488 459 389 459 444 417 401 528 5
Slide 31: Quarterly Trends: Europe & Africa
Appendix8) 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 20 17 18 500 20 13 306 322 335 309 10 258 296 232 235 222 251 255 232 216 247 194
Slide 32: 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