Toyota Boshoku Corp. · TSE:3116
Toyota Boshoku — H1 FY2022 Earnings Presentation
31 slides from Toyota Boshoku's earnings presentation, Oct 29, 2021
Slide 1: FY2022 1st Half Financial Results
TSE 1st Section Securities Code 3116 FY2022 (ending March 2022) 1st Half Financial Results Date: Oct 29, 2021
Slide 2: Financial Results
Financial Results 1. 2nd Quarter FY2022 Financial Results 2. FY2022 Financial Forecasts 3. Appendix
Slide 3: 2nd Quarter FY2022 Financial Results
Financial Results 1. 2nd Quarter FY2022 Financial Results 2. FY2022 Financial Forecasts 3. Appendix
Slide 4: Overview of Consolidated Financial Results
1-1) 2nd Quarter FY2022 Financial Results Overview of Consolidated Financial Results (100 million yen) Q2 FY2021 Q2 FY2022 YOY Change Revenue 5,454 100.0% 6,520 100.0% 1,066 19.6% Operating Profit 36 0.7% 242 3.7% 206 571.3% Profit before income taxes 31 0.6% 257 4.0% 226 715.1% Profit* △76 △1.4% 14
Slide 5: Seat Production by Region
1-2) 2nd Quarter FY2022 Financial Results Seat Production by Region Total By Region （10,000 Units） （10,000 Units） +40 YOY Change +13.3% 2Q 2Q Pct Change FY21 FY22 342 302 +12 +9.9% △11 △14.1% 138 +18 +15 125 +39.6% +53.1% +6 +22.2% 62 77 45 66 28 43 27 32 2Q FY21 The China Asia & Europe& 2Q FY22 Jap
Slide 6: Consolidated Revenue & Operating Profit
1-3) 2nd Quarter FY2022 Financial Results Consolidated Revenue & Operating Profit Profit increased due to higher production volume as demand recovered from covid-19 last year in addition to new product effects despite negative effects of increase in material price and overhead costs Volume & Model M
Slide 7: Japan Revenue & Operating Profit
1-3) 2nd Quarter FY2022 Financial Results Japan Revenue & Operating Profit Profit increased due to higher production volume as demand recovered from covid-19 last year in addition to new product effects despite negative effects of increase in material price and overhead costs Volume & Model Mix Oper
Slide 8: The Americas Revenue & Operating Profit
1-3) 2nd Quarter FY2022 Financial Results The Americas Revenue & Operating Profit Profit increased due to higher volume as demand recovered from covid-19 last year and new product effect despite negative effects of material price and overhead costs increase Volume & Model Mix Operating Profit Varian
Slide 9: China Revenue & Operating Profit
1-3) 2nd Quarter FY2022 Financial Results China Revenue & Operating Profit Profit decreased as volume decreased due to the parts supply issues as well as there was production increase last year from recovery in demand Volume & Model Mix Operating Profit Variance Analysis △109 (1,000 units) Consolida
Slide 10: Asia & Oceania Revenue & Operating Profit
1-3) 2nd Quarter FY2022 Financial Results Asia & Oceania Revenue & Operating Profit Profit increased due to higher volume as demand recovered from last year as well as new product launch Volume & Model Mix Operating Profit Variance Analysis Alleviation of maintaining (1,000 units) employment amid pa
Slide 11: Europe & Africa Revenue & Operating Profit
1-3) 2nd Quarter FY2022 Financial Results Europe & Africa Revenue & Operating Profit Profit increased due to higher volume as demand recovered from last year despite transient negative factors Volume & Model Mix Operating Profit Variance Analysis 325 (1,000 units) Alleviation of maintaining +59 empl
Slide 12: FY2022 Financial Forecasts
Financial Results 1. 2nd Quarter FY2022 Financial Results 2. FY2022 Financial Forecasts 3. Appendix
Slide 13: Overview of Consolidated Financial Forecasts
2-1) FY2022 Financial Forecasts Overview of Consolidated Financial Forecasts （100 million yen） FY22 Forecasts FY21 Actual FY22 Forecasts YOY Change (1Q Announced) Revenue 12,721 100.0% 14,000 100.0% 1,278 10.1% 14,000 100.0% Operating Profit 571 4.5% 720 5.1% 148 26.1% 720 5.1% Profit before income
Slide 14: Seat Assembly Production by Region
2-2) FY2022 Financial Forecasts Seat Assembly Production by Region Total By Region （10,000 Units） +75 （10,000 Units） +10.7% 777 YOY Change FY21 FY22 Pct Change 702 +8 +2.8% +3 +23 +2.2% 290 298 +20.7% +28 +35.2% +13 131 152 156 +18.0% 109 107 79 72 85 FY21 FY22 Japan The China Asia & Europe& America
Slide 15: Consolidated Revenue & Operating Profit
2-3) FY2022 Financial Forecasts Consolidated Revenue & Operating Profit Higher profit due to global production increase and new product effects despite negative impacts of upfront investments aimed at future growth and material price increase Volume & Model Mix Operating Profit Variance Analysis +74
Slide 16: Revenue & Operating Profit by Region: Japan, The Americas
2-4) FY2022 Financial Forecasts Revenue & Operating Profit by Region Japan The Americas Higher profit due to increased volume and Higher profit due to volume increase and new product effects despite negative impacts elimination of temporary inefficiency of material price increase and upfront from mo
Slide 17: Revenue & Operating Profit by Region: China, Asia & Oceania
2-4) FY2022 Financial Forecasts Revenue & Operating Profit by Region China Asia & Oceania Lower profit due to change in mix and Higher profit due to production increase increase in overhead costs despite as demand recovered from covid-19 last positive impacts of higher volume and new year product ef
Slide 18: Revenue & Operating Profit by Region: Europe & Africa
2-4) FY2022 Financial Forecasts Revenue & Operating Profit by Region Europe & Africa Lower profit due to negative impacts of increased material price and overhead costs despite higher volume Volume & Model Mix +129 847 (1,000 units) ＜+18.0%＞ 718 551 +85 636 (75.1%) Compact (76.8%) ＜+15.4%＞ +12 40(4.
Slide 19: 1st/2nd Half by Region
2-5) FY2022 Financial Forecasts 1st/2nd by Region Revenue （100 million yen） 1st Half 2nd Half Full Year Japan 3,427 3,872 7,300 The Americas 1,459 1,440 2,900 China 874 1,125 2,000 Asia & Oceania 819 980 1,800 Europe & Africa 398 501 900 Consolidated Total 6,520 7,479 14,000 Operating Profit （100 mi
Slide 20: Returning to Shareholders
2-6) FY2022 Financial Forecasts Returning to Shareholders Interim dividends payout is ¥32, which is determined based on comprehensive evaluation of our ability to earn despite negative impact of production decline To keep long-term sustainable dividends for FY-end (dividends payout plan is ¥32)
Slide 21: Concluding 1st Half FY2022 Financial Results
2-7) Concluding 1st Half FY2022 Financial Results 【2Q Results】 ･Profit decreased compared to the announced target as of 1Q due to the customer's production cut ･However, our ability to earn, such as new product effects and streamlined overhead costs, has steadily enhanced 【Forecast after 3Q】 ・Increa
Slide 22: Appendix
Financial Results 1. 2nd Quarter FY2022 Financial Results 2. FY2022 Financial Forecasts 3. Appendix
Slide 23: Status of the Consolidated Statement of Financial Position
Appendix1) Status of the Consolidated Statement of Financial Position (Sep.30, 2021) :Compared to the previous Current assets year(100 million yen) 506.8billion yen ↓ Liabilities 476.1billion yen 489.3billion yen ↓ ・ decrease in operating △284 receivables from lower sales △174 447.6billion yen ・decr
Slide 24: Consolidated Cash Flows
Appendix2）Consolidated Cash Flows Cash flows from operating activities: +40.3 billion yen year-on-year Free cash flows: +53.6 billion yen 477 year-on-year 350 Major factors ・increase in cash due to higher profit 73 ・less expenses for capital investment etc. FY21 2Q FY22 2Q Cash flows from investing
Slide 25: Quarterly Trends: Consolidated
Appendix3) Quarterly Trends: Consolidated volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue Seat Assembly Production (10,000 Units) 8,000 (100 million yen) 191 195 201 193 190 206 194 220 181 183 183 189 169 153 JGAAP ◀ ▶ IFRS Revenue 119 3,782 3,484 3,542
Slide 26: 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 90 100 85 84 85 79 79 79 76 79 73 73 75 62 2,003 2,063 1,904 2,076 1,846 1,856 50 2,070 1,840 1,984 1,813 1,882 1,885 2,000 1,542 50
Slide 27: Quarterly Trends: The Americas
Appendix5) Quarterly Trends: The Americas volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (100 million yen) (10,000 Units) 2,000 50 34 35 32 33 30 31 31 28 27 29 27 27 27 1,000 25 723 724 727 709 752 718 786 630 664 651 653 624 672 12 279 0 0 1Q 2Q 3Q 4Q
Slide 28: 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 38 38 39 40 34 35 36 1,000 31 32 31 30 40 28 27 437 437 468 19 464 446 482 445 399 362 427 389 411 428 254 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3
Slide 29: 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 40 30 29 28 28 28 28 26 25 24 24 23 21 19 1,000 481 487 478 466 488 459 10 459 453 389 444 417 401 342 197 0 0 1Q 2Q 3Q 4Q 1
Slide 30: 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 24 23 22 21 22 21 22 19 20 20 500 17 20 13 242 250 271 232 235 10 251 255 232 229 194 222 210 166 108 0 0 1Q 2Q 3Q 4Q
Slide 31: 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