Toyota Boshoku Corp. · TSE:3116
Toyota Boshoku — Q3 FY2024 Earnings Presentation
31 slides from Toyota Boshoku's earnings presentation, Feb 2, 2024
Slide 1: FY2024 3rd Quarter Financial Results
TSE Prime Market Securities Code 3116 FY2024 (ending March 2024) 3rd Quarter Financial Results Date : February 2, 2024
Slide 2: Financial Results
Financial Results 1. 3rd Quarter FY2024 Financial Results 2. FY2024 Financial Forecasts 3. Appendix
Slide 3: 1. 3rd Quarter FY2024 Financial Results
Financial Results 1. 3rd Quarter FY2024 Financial Results 2. FY2024 Financial Forecasts 3. Appendix
Slide 4: 1-1) Overview of Consolidated Financial Results
1-1) 3rd Quarter FY2024 Financial Results Overview of Consolidated Financial Results （100 million yen） 3Q FY2023 3Q FY2024 YOY Change Revenue 11,691 100.0% 14,711 100.0% 3,020 25.8% Operating Profit 286 2.4% 767 5.2% 480 168.0% Profit before income taxes 331 2.8% 793 5.4% 462 139.8% Profit* 87 0.8%
Slide 5: 1-2) Seat Production by Region
1-2) 3rd Quarter FY2024 Financial Results Seat Production by Region Total By Region （10,000 Units） +86 （10,000 Units） +15.0% YOY Change 3Q 3Q Pct Change 663 FY23 FY24 577 +58 +29.4% 254 △3 +12 △2.1% +13 196 +12.5% +12.8% +6 +10.5% 123120 94 106 103116 61 67 3Q FY23 3Q FY24 Japan The China Asia & Eur
Slide 6: 1-3) Consolidated Revenue & Operating Profit
1-3) 3rd 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: 1-3) Japan Revenue & Operating Profit
1-3) 3rd 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) Changes in product （100
Slide 8: 1-3) The Americas Revenue & Operating Profit
1-3) 3rd Quarter FY2024 Financial Results The Americas Revenue & Operating Profit Profit increased due to higher production from launch of new cars and sales efforts despite an increase in overhead costs resulting from new products launch and market price increase Volume & Model Mix Operating Profit
Slide 9: 1-3) China Revenue & Operating Profit
1-3) 3rd 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 Volume & Model Mix Operating Profit Variance Analysis (10,000 units) （100 million yen） △3 Changes in prod
Slide 10: 1-3) Asia & Oceania Revenue & Operating Profit
1-3) 3rd 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) Changes in product （100 million yen） pr
Slide 11: 1-3) Europe & Africa Revenue & Operating Profit
1-3) 3rd Quarter FY2024 Financial Results Europe & Africa Revenue & Operating Profit Profit increased due to higher volumes, cost reduction, and FX impacts, despite an increase in overhead costs Volume & Model Mix Operating Profit Variance Analysis (10,000 units) （100 million yen） Changes in product
Slide 12: 2. FY2024 Financial Forecasts
Financial Results 1. 3rd Quarter FY2024 Financial Results 2. FY2024 Financial Forecasts 3. Appendix
Slide 13: 2-1) 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% 19,700 100.0% Operating Profit 476 3.0% 930 4.7% 453 95.1% 930 4.7% Profit before
Slide 14: 2-2) Seat Assembly Production by Region
2-2) FY2024 Financial Forecasts Seat Assembly Production by Region Total By Region +86 （10,000 Units） （10,000 Units） +11.0% YOY Change 870 FY23 FY24 Actual Forecast Pct Change 784 +59 +21.3% 335 △6 △4.1% +12 276 +19 +14.7% +8.7% +3 +3.5% 145 156 150 143 155 126 82 85 FY23 FY24 Japan The China Asia &
Slide 15: 2-3) Consolidated Revenue & Operating Profit
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: 2-3) Comparison with the Previous Forecast
2-3) FY2024 Financial Forecasts Comparison with the Previous Forecast Operating Profit variance analysis （100 million yen） 2Q 3Q Difference announced announced Total Internal Environmental efforts changes exc. FY23 Actual Russian business 548 548 - - - Volume 328 262 △66 △66 Mix 113 179 +66 +65 +1 C
Slide 17: 2-4) Revenue & Operating Profit by Region
2-4) FY2024 Financial Forecasts Revenue & Operating Profit by Region Japan The Americas Higher profit due to production increase and Higher profit due to production increase changes in the vehicle mix despite impacts from new models and changes in the vehicle of APA in the previous year mix despite
Slide 18: 2-4) Revenue & Operating Profit by Region
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 increase volume caused by the rapid shift to from sales promotion in Indonesia & BEVs India in addition to APA impacts in the previous year Volu
Slide 19: 2-4) Revenue & Operating Profit by Region
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 +3 (10,000 units) 82 <+3.5%> 85 Compact 72 (8
Slide 20: 2-5) 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 2,455 4,800 China 1,228 1,171 2,400 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: 2-6) Returning to Shareholders
2-6) FY2024 Financial Forecasts Returning to Shareholders ■The annual dividend plan is ¥86, as same as the previous forecast (¥43 for interim and year-end respectively) ■To be determined based on comprehensive evaluation of future forecasts Trends in dividend, operating profit, &profit attributable
Slide 22: 2-6) Returning to Shareholders: Acquisition of Treasury Shares
2-6) FY2024 Financial Forecasts Returning to Shareholders To enhance shareholder returns and improve capital efficiency, the decision to purchase treasury stocks has been made based on the cash allocation policy outlined in the 2030 Mid-term Business Plan. 【Acquisition of Treasury Shares】 Type of Sh
Slide 23: 2-7) Summary
2-7) 3rd Quarter FY2024 Financial Results Summary 【3Q Results】 ・Operating profit improved due to internal efforts, including sales efforts and streamlined expenses, while production declined compared to the previous forecast 【Forecast after 4Q】 ・Investments for the future, includes expanding sales t
Slide 24: 3. Appendix
Financial Results 1. 3rd Quarter FY2024 Financial Results 2. FY2024 Financial Forecasts 3. Appendix
Slide 25: Appendix1) Quarterly Trends: Consolidated
Appendix1) Quarterly Trends: Consolidated volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue Seat Assembly Production (10,000 units) (100 million yen) 8,000 217 218 228 201 207 207 206 189 195 195 199 220 194 177 183 153 5,071 4,754 4,885 4,988 119 3,828 3,8
Slide 26: Appendix2) Quarterly Trends: Japan
Appendix2) Quarterly Trends: Japan volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 4,000 85 85 86 100 79 80 83 81 76 75 68 67 69 68 2,333 2,440 2,434 2,070 62 59 2,265 2,290 50 1,813 1,882 1,885 1,764 1,815 1,749 1,808 2,0
Slide 27: Appendix3) Quarterly Trends: The Americas
Appendix3) Quarterly Trends: The Americas volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 2,000 50 39 35 35 35 36 32 33 32 33 32 31 30 30 1,331 29 27 1,149 1,194 1,123 1,070 1,039 1,000 854 863 896 881 25 709 752 718 786 6
Slide 28: Appendix4) Quarterly Trends: China
Appendix4) 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 43 38 39 40 39 39 40 40 38 35 36 34 1,000 30 30 40 646 673 628 699 600 595 628 464 446 482 445 548 599 411 428 472 0 0 1Q 2Q
Slide 29: Appendix5) Quarterly Trends: Asia & Oceania
Appendix5) 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 40 39 34 35 35 40 32 29 26 25 1,000 23 21 729 19 697 722 723 634 638 624 528 556 525 20 459 444 417 401 10 342 1
Slide 30: Appendix6) Quarterly Trends: Europe & Africa
Appendix6) 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 23 22 22 21 20 20 20 17 18 18 500 20 13 322 335 358 10 306 296 309 296 251 255 232 258 247 210 216 166 108 0
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