Toyota Motor Corp. · TSE:7203
Toyota Motor — FY2024 Earnings Presentation
30 slides from Toyota Motor's earnings presentation, May 8, 2024
Slide 1: FY2024 Financial Results
FY2024 Financial Results Toyota Motor Corporation May 8, 2024 1
Slide 2: Cautionary Statement with Respect to Forward-Looking Statements and Insider Trading
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: FY2024 Financial Results Summary
FY2024 Financial Results Summary We plan to accelerate investments in human resources for the future and growth, by leveraging our strong performance. Long-standing "product and region based management" has borne fruit, FY2024 achieving a higher level of profitability. actual ・Thanks to the support
Slide 4: FY2024 Financial Performance
FY2024 Financial Performance 4
Slide 5: Consolidated Vehicle Sales
Consolidated Vehicle Sales (thousands of vehicles) 10,000 8,822 9,443 107.0% Japan 8,000 1,993 96.3% N. America 2,069 Europe 6,000 2,816 117.0% 2,407 Asia 4,000 1,030 1,192 115.7% Other Central and 2,000 1,751 1,804 103.0% South America, Oceania, Africa, 1,565 1,638 104.6% The Middle East, etc. 0 '2
Slide 6: Consolidated Financial Summary
Consolidated Financial Summary (billions of yen) '22.4-'23.3 '23.4-'24.3 Change Sales Revenues 37,154.2 45,095.3 +7,941.0 Operating Income 2,725.0 5,352.9 +2,627.9 Margin 7.3% 11.9% Other Income 943.7 1,612.1 +668.4 Share of Profit (Loss) of Investments Accounted for Using the Equity Method 643.0 76
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.： +1,740.0 +2,000.0 -380.0 +202.9 5,352.9 Which includes: Soaring Materials Prices -265.0 Cost Reduction +385.0 Increase or Other *4 Decrease in +68
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 for using the equity method of associate
Slide 9: China Business / Financial Services
China Business / Financial Services (Ref.) China Business Financial Services Operating Income of Consolidated 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. Met
Slide 10: Shareholder Return
Shareholder Return TOYOTA 10
Slide 11: Dividends
Dividends ◼ The policy to “increase dividends in a stable and continuous manner” in order to reward our long-term shareholders ◼ Year-end: 45 yen (YoY +10 yen) Total full-year: 75 yen (YoY +15 yen) ◼ Total amount of annual dividends is over 1 trillion yen 80 75 70 (yen) 60 +15 60 Year-end Dividend *
Slide 12: Share Repurchases
Share Repurchases ◼ “Flexible repurchase of shares while considering factors such as the price level of our common stock” and “to respond to requests for the sale of our own shares as needed” ◼ Year-end: Maximum 1 trillion yen (YoY +850 billion yen) ◼ In addition, retire 520 million shares, equivale
Slide 13: FY2025 Financial Forecasts
FY2025 Financial Forecasts 13
Slide 14: FY2025 Forecast: Consolidated Vehicle Sales
FY2025 Forecast: Consolidated Vehicle Sales (thousands of vehicles) 10,000 9,443 9,500 100.6% Japan 1,993 1,870 93.8% 8,000 N. America Europe 6,000 2,816 2,870 101.9% Asia 4,000 1,192 1,160 97.3% Other 1,940 Central and 1,804 107.5% South America, 2,000 Oceania, 1,638 1,660 101.3% Africa, 0 The Midd
Slide 15: FY2025 Forecast: Consolidated Financial Summary
FY2025 Forecast: Consolidated Financial Summary （billions of yen） FY24 Results FY25 Forecast Change '23.4-'24.3 '24.4-'25.3 Sales Revenues 45,095.3 46,000.0 +904.7 Operating Income 5,352.9 4,300.0 -1,052.9 Margin 11.9% 9.3% Other Income 1,612.1 770.0 -842.1 Share of Profit (Loss) of Investments Acco
Slide 16: Changes in Consolidated Operating Income
Changes in Consolidated Operating Income ◼ Until FY 2023：The impacts of the COVID-19 pandemic, semiconductor supply constraints, and soaring materials prices. ◼ FY 2024 ：The business environment stabilized, and efforts to strengthen the profit structure bore fruit. ◆Changes in Operating Income (bill
Slide 17: Analysis of FY2025 Forecast: Consolidated Operating Income
Analysis of FY2025 Forecast: Consolidated Operating Income ■ FY 2025: Accelerate investments both in human resources for the future and in transformation towards a mobility company, in order to grow sustainably with our many stakeholders. Investments towards human (billions of yen) resources for the
Slide 18: Investments for Transformation into a Mobility Company
Investments for Transformation into a Mobility Company ■ Accelerate investments towards materializing multi-pathway strategy (BEV, hydrogen, etc.) and creating a foundation for Software Defined Vehicles (SDV), done in the Toyota way (Software, AI, etc.) → Investment in growth areas: 1.7 trillion yen
Slide 19: Cycle of Growing Together
Cycle of Growing Together Continuing to Grow Together with Our Stakeholders Optimal mobility Customers Shareholder return Business Local Shareholders Investing in Communities foundation the future TOYOTA Paying taxes Suppliers Employees Dealers Aim for stable and continuous wage increases Investment
Slide 20: (Ref.) Analysis of FY2025 Forecast: Consolidated Operating Income
(Ref.) Analysis of FY2025 Forecast: Consolidated Operating Income Excluding the overall impact of foreign exchange (billions of yen) rates and swap valuation gains/losses, etc.： -1,145.0 5,352.9 +55.0 Effects of FOREX -150.0 -215.0 +37.1 4,300.0 Cost Effects of Rates *1 -780.0 Other *4 Reduction Mar
Slide 21: (Ref.) Analysis Breakdown of FY2025 Forecast: Consolidated Operating Income
(Ref.) Analysis Breakdown of FY2025 Forecast: Consolidated Operating Income (A) (billions of yen) Excluding the overall impact of foreign exchange rates and swap valuation gains/losses, etc.： -1,145.0 5,352.9 +55.0 Effects of FOREX -150.0 Cost -215.0 +37.1 4,300.0 Rates Reduction Effects of -780.0 O
Slide 22: (Ref.) Consolidated Vehicle Sales (3 months)
(Ref.) Consolidated Vehicle Sales (3 months) （thousands of vehicles） Japan 2,500 2,331 92.1% 2,148 N.America 2,000 668 363 54.4% Europe 1,500 Asia 555 655 118.1% Other 1,000 273 308 112.7% Central and South America, 458 428 93.5% Oceania, 500 Africa, 378 394 104.2% The Middle East, 0 etc. '23.1-3 '2
Slide 23: (Ref.) Consolidated Financial Summary (3 months)
(Ref.) Consolidated Financial Summary (3 months) (billions of yen) '23.1-3 '24.1-3 Change Sales Revenues 9,690.2 11,072.6 +1,382.3 Operating Income 626.9 1,112.6 +485.7 Margin 6.5% 10.0% Other Income 172.5 495.3 +322.7 Share of Profit (Loss) of Investments Accounted for Using the Equity Method 168.3
Slide 24: (Ref.) Analysis of Consolidated Operating Income (3 months)
(Ref.) Analysis of Consolidated Operating Income (3 months) Excluding the overall impact of foreign exchange (billions of yen) rates and swap valuation gains/losses, etc.： +115.0 +185.0 +10.0 -80.0 +65.7 1,112.6 Marketing +305.0 Efforts *2 Increase or Other *4 Cost Decrease in Reduction Expenses and
Slide 25: (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 for using the equity me
Slide 26: (Ref.) China Business / Financial Services (3 months)
(Ref.) China Business / Financial Services (3 months) (Ref.) China Business Financial Services Operating Income of Consolidated Subsidiaries (billions of yen) Operating Income (billions of yen) Share of Profit of Investments Accounted for Using the Equity ＊ Excluding Valuation Gains/Losses relating
Slide 27: (Ref.) Transition of ROE
(Ref.) Transition of ROE Transition of ROE*1 15.8% 13.7% 13.9% 13.8% 13.7% 11.5% 10.6% 10.0% 10.2% 9.8% 9.0% Cost of Equity 8.5% Approximately 6-10%*2 3.9% 2.7% 2.1% ’10.3 '10.3期 ’11.3 '11.3期 ’12.3 '12.3期 ’13.3 '13.3期 ’14.3 '14.3期 ’15.3 '15.3期 ’16.3 '16.3期 ’17.3 '17.3期 ’18.3 '18.3期 ’19.3 '19.3期 ’20.
Slide 28: (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) 45.0 46.0 11.9 Net Margin (%) 9,443 9,500 9.3
Slide 29: FY2025 Forecast: Vehicle Production and Retail Sales
(Ref.) FY2025 Forecast: Vehicle Production and Retail Sales （thousands of vehicles） FY24 Results FY25 Forecast Change '23.4-'24.3 '24.4-'25.3 Japan 3,309 3,350 +41 Vehicle 生産 Overseas Production * 6,663 6,650 -13 Toyota & Lexus Total 9,972 10,000 +28 Japan 1,530 1,550 +20 Retail Vehicle Overseas 8,7
Slide 30: 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