Toyota Motor Corp. · TSE:7203
Toyota Motor — FY2008 Earnings Presentation
35 slides from Toyota Motor's earnings presentation, May 8, 2008
Slide 1: FY2008 Financial Results
FY2008 Financial Results 1 - prepared in accordance with U.S. GAAP - Toyota Motor Corporation May 8, 2008
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, Senior Managing Director
Takeshi Suzuki Senior Managing Director
Slide 5: Consolidated Vehicle Sales
Consolidated Vehicle Sales 5 (thousands of vehicles) 8,913 (+389) 8,524 8,000 1,296 1,527 (+231) 789 956 (+167) 6,000 1,224 1,284 Other (+60) Central and South America, Oceania, 4,000 2,942 その他 Africa, 2,958 (+16) The アジア Middle East etc. 欧州 2,000 Asia 北米 Europe 2,273 2,188 (-85) 日本 N. America 0 cha
Slide 6: Consolidated Financial Summary
Consolidated Financial Summary 6 (year-on-year change) Net Revenues 26.2892 trillion yen (+9.8%) Operating Income 2.2703 trillion yen (+1.4%) Equity in Earnings of Affiliated Companies 270.1 billion yen (+28.9%) Net Income 1.7178 trillion yen (+4.5%) - Record results from net revenues to net income
Slide 7: Key Points for FY 2008 Financial Results
Key Points for FY 2008 Financial Results 7 1. Geographically Well Balanced Profit Structure 2. Steady Growth of Net Income
Slide 8: Geographically Well Balanced Profit Structure
Geographically Well Balanced Profit Structure 8 Central and South America, Central and South America, Oceania, Africa 11% Overseas Operating Oceania, Africa 17% Income by Region Asia N. 15% America N. 788.0 America 847.1 36% billion yen 57% billion yen Europe Asia 17% 30% Europe 17% ’06/4-’07/3 ’07/
Slide 9: Steady Growth of Net Income
Steady Growth of Net Income 9 Net Income (billions of yen) 1,644.0 1,717.8 1,500 1,372.1 1,162.0 1,171.2 1,000 500 0 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '07/4-'08/3 Equity in Earnings of Affiliated Companies (billions of yen) More than Doubled 300 270.1 209.5 200 164.3 120.2 139.4 100 0
Slide 10: Shareholder Return
Shareholder Return 10 Dividend: 140 yen per share - Dividend increased by 20 yen per share - Total Amount of Payout : 443.2 billion yen (Consolidated Payout Ratio: 25.9%) 140 (Yen per share) 120 90 75 70 65 55 45 40 36 24 25 28 25 65 20 50 13 14 15 35 16 20 25 11 11 13 ’99/4-’00/3 ’00/4-’01/3 ’01/4-
Slide 11: Shareholder Return
Shareholder Return 11 Share Authorized Amount 200.0 billion yen Buyback (maximum limitation) 30 million shares Share buyback results and Authorized Amount Number of Acquired Shares (millions of shares) Total Amount (billions of yen) 50 250 40 200 30 150 20 100 10 50 0 0 ’05/6-’06/6 ’06/6-’07/6 ’07/6
Slide 12: Business Environment
Business Environment 12 Surrounding Business Environment -Decelerating economy of developed countries, led by United States. -Market expansion of resource-rich countries and emerging countries. -Continued soaring raw material costs & drastic currency fluctuation. -Implementation of more challenging
Slide 13: Business in Developed Markets
Business in Developed Markets 13 Market Condition Measure -Increasing environmental consciousness -Providing market-creating products with -More diverse customer demands high added value Hybrid Vehicle Sales (thousands of Vehicles) iQ:Super high efficiency package (cumulative total) 1,600 + 1,410 Re
Slide 14: Business in Resource-Rich and Emerging Countries
Business in Resource-Rich and Emerging Countries 14 Market Market Condition Condition Measure -Rapid expansion of the market -Introducing models that meet local demands -Diverse market demands (Full Line-up + New Models) 15,000 China: Production of Yaris in Guangzhou 1,000 India: Plan to start produ
Slide 15: Measures for Rising Raw Material Prices
Measures for Rising Raw Material Prices 15 Surrounding Factor Measure -Rising raw material prices -Various cost reduction activities Efforts to reduce costs starting with the development phase Cost reduction efforts (example: reducing ECU* used) *Electronic Control unit associated with Value Innovat
Slide 16: Measures for Environmental Regulation
Measures for Environmental Regulation 16 Surrounding Factor Measure -More challenging regulations for emissions -Further pursuing Sustainable Mobility and fuel efficiency -Aggravating environmental issues and Sustainable Plant activities -Tutsumi Plant successfully reduced CO2 Introducing Plug-in Hy
Slide 17: Consolidated Prospects: Vehicle Sales
Consolidated Prospects: Vehicle Sales 17 8,913 9,060 (+147) (thousands of vehicles) 8,000 1,527 1,600 (+73) 956 1,100 (+144) Other 6,000 1,284 Central and 1,390 (+106) South America, Oceania, Africa, The Middle その他 4,000 East etc. 2,958 2,770 (-188) アジア Asia 欧州 2,000 Europe 北米 2,188 2,200 (+12) N.日本
Slide 18: FY2009 Consolidated Prospects
FY2009 Consolidated Prospects 18 (year-on-year change) Net Revenues 25 trillion trillion yen yen (-4.9%) (-4.9%) Operating Income 1.600 trillion trillion yen yen (-29.5%) (-29.5%) Net Income 1.250 trillion trillion yen yen (-27.2%) (-27.2%) $ 100 yen FOREX Rates € 155 yen
Slide 19: Consolidated Financial Summary
Consolidated Financial Summary 19 (billions of yen) FY2008 FY2007 Change (’07/4-’08/3) (’06/4-’07/3) Net Revenues 26,289.2 23,948.0 2,341.2 9.8% Operating Income 2,270.3 2,238.6 31.7 1.4% Income before income taxes, minority interest and equity earnings of affiliated companies 2,437.2 2,382.5 54.7 2
Slide 20: Contributing Factors to Consolidated Net Income
Contributing Factors to Consolidated Net Income 20 (billions of yen) Net Income (+73.8) Operating Income (+31.7) Excluding: Valuation Loss in Accounting on Interest Rate Swaps (+79.8) 1,717.8 1,644.0 Valuation Loss Equity in in Accounting Other Earnings of Income Tax, on Interest Income Affiliated e
Slide 21: Geographic Operating Income: Japan
Geographic Operating Income: Japan 21 2,597 2,708 (billions of yen) 2,303 2,381 2,364 2,273 2,188 1,500 2,126 1,457.2 1,440.3 1,860 1,982 1,108.1 1,075.9 1,000 987.2 500 -16.9 0 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '07/4-'08/3 Operating Income Consolidated Vehicle Sales Exported Vehicles*
Slide 22: Geographic Operating Income: North America
Geographic Operating Income: North America 22 [Excluding Valuation Loss in Accounting on Interest Rate Swaps] 2,942 2,958 (billions of yen) 2,556 600 2,271 2,103 486.0 474.3 416.2 396.7 400 372.5 200 -77.6 0 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '07/4-'08/3 Operating Income Consolidated Ve
Slide 23: Geographic Operating Income: Europe
Geographic Operating Income: Europe 23 1,224 1,284 (billions of yen) 979 1,023 898 150 137.3 141.5 108.5 100 93.9 72.5 50 +4.2 0 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '07/4-'08/3 Operating Income Consolidated Vehicle Sales (thousands of vehicles) -Brisk sales of Auris and Prius in Western
Slide 24: Geographic Operating Income: Asia
Geographic Operating Income: Asia 24 (billions of yen) 956 833 880 300 789 557 256.4 250 200 150 145.5 117.6 100 93.8 60.3 50 +138.8 0 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '07/4-'08/3 Operating Income Consolidated Vehicle Sales (thousands of vehicles) -Robust sales of IMV and Yaris in Tha
Slide 25: Geographic Operating Income: Central and South America, Oceania, Africa
Geographic Operating Income: Central and South America, Oceania, Africa 25 (billions of yen) 1,527 1,296 1,151 143.9 150 944 858 100 83.5 67.2 50 47.4 36.6 +60.4 0 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '07/4-'08/3 Operating Income Consolidated Vehicle Sales (thousands of vehicles) -Favorab
Slide 26: Business Segment: Financial Services
Excluding Valuation Loss Business Segment: Financial Services in Accounting on Interest Rate Swaps 26 (billions of yen) 200 178.4 163.3 164.1 154.5 150 125.5 100 50 -23.9 0 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '07/4-'08/3 Valuation Loss in Accounting on Interest Rate Swaps 20.5 37.5 -8.3
Slide 27: Equity in Earnings of Affiliated Companies
Equity in Earnings of Affiliated Companies 27 (billions of yen) 300 270.1 209.5 200 164.3 139.4 120.2 100 +60.6 0 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '07/4-'08/3 China (billions of yen) 7.2 7.2 11.1 24.1 67.2 - Strong earnings contribution maintained by joint venture companies in China a
Slide 28: FY2008 Consolidated CAPEX, Depreciation, R&D
FY2008 Consolidated CAPEX, Depreciation, R&D 28 (billions of yen) Capital Depreciation Expenditure Expenses R&D Expenses Consolidated 1,480.2 (-2.4) 1,042.4 (+95.4) 958.8 (+68.1) Japan 863.1 (+47.8) 613.1 (+20.6) N. America 334.3 (+15.0) 203.5 (+38.2) Europe 115.9 (-3.8) 101.0 (+11.5) Asia 108.4 (-3
Slide 29: Unconsolidated Financial Summary (Japan GAAP)
Unconsolidated Financial Summary (Japan GAAP) 29 (billions of yen) FY2008 FY2007 Change (’07/4-’08/3) (’06/4-’07/3) Net Revenues 12,079.2 11,571.8 507.4 4.4% Operating Income 1,108.6 1,150.9 -42.3 -3.7% Ordinary Income 1,580.6 1,555.1 25.5 1.6% Net Income 1,138.1 1,060.1 78.0 7.4%
Slide 30: Contributing Factors to Unconsolidated Net Income
Contributing Factors to Unconsolidated Net Income 30 (billions of yen) Net Income (+78.0) 1,138.1 Operating Income (-42.3) 1,060.1 Non- operating Income Tax, Income etc. +52.5 +67.8 Cost Increases in Effects of Marketing Reduction Expenses FOREX Efforts Efforts -192.3 rates 0 +80.0 +70.0 ’06/4-’07/3
Slide 31: FY2009 Consolidated Prospects
FY2009 Consolidated Prospects 31 (billions of yen) FY2009 FY2008 Change (’08/4-’09/3) (’07/4-’08/3) Net Revenues 25,000.0 26,289.2 -1,289.2 -4.9% Operating Income 1,600.0 2,270.3 -670.3 -29.5% Income before income taxes, minority interest and equity earnings of affiliated companies 1,700.0 2,437.2 -
Slide 32: Prospects for Contributing Factors to Consolidated Operating Income
Prospects for Contributing Factors to Consolidated Operating Income 32 (billions of yen) Operating Income FY2008 (’07/4～’08/3) 2,270.3 Marketing Efforts +180.0 Cost Reduction Efforts 0 Effects of FOREX rates -690.0 Increases in Expenses -160.3 Total -670.3 FY2009 (’08/4～’09/3) 1,600.0
Slide 33: FY2009 Consolidated Prospects: CAPEX, Depreciation, R&D
FY2009 Consolidated Prospects: CAPEX, Depreciation, R&D 33 (billions of yen) Capital Depreciation Expenditure Expenses R&D Expenses Consolidated 1,400.0 (-80.2) 1,100.0 (+57.6) 920.0（-38.8） Japan 820.0 (-43.1) 690.0 (+76.9) N. America 320.0 (-14.3) 210.0 (+6.5) Europe 140.0 (+24.1) 100.0 (-1.0) Asia
Slide 34: FY2009 Operations Prospects <Toyota / Lexus>
FY2009 Operations Prospects <Toyota / Lexus> 34 FY2009 FY2008 (’08/4-’09/3) (’07/4-’08/3) (thousands of vehicles) (thousands of vehicles) Japan 4,213 4,264 Automotive Production Overseas 4,660 4,424 Total 8,873 8,688 Sales (Japan) 1,600 1,595 Exports 2,670 2,708 Sales (Overseas) 7,250 6,923 Housing
Slide 35: FY2008 Financial Results
FY2008 Financial Results - prepared in accordance with U.S. GAAP - Toyota Motor Corporation May 8, 2008