Toyota Boshoku Corp. · TSE:3116
Toyota Boshoku — FY2024 Earnings Presentation
32 slides from Toyota Boshoku's earnings presentation, Apr 26, 2024
Slide 1: FY2024 Financial Results
TSE Prime Market Securities Code 3116 FY2024 (ending March 2024) Financial Results Date: April 26th, 2024
Slide 2: Contents
Contents 1. FY2024 Financial Results 2. FY2025 Financial Forecasts 3. Appendix
Slide 3: Contents
Contents 1. FY2024 Financial Results 2. FY2025 Financial Forecasts 3. Appendix
Slide 4: Overview of Consolidated Financial Results
1-1) FY2024 Financial Results Overview of Consolidated Financial Results （100 million yen） FY2023 FY2024 YOY Change Revenue 16,040 100.0% 19,536 100.0% 3,495 21.8% Operating Profit 476 3.0% 786 4.0% 309 65.0% Profit before income taxes 522 3.3% 873 4.5% 350 67.1% Profit* 146 0.9% 578 3.0% 432 294.3%
Slide 5: Seat Production by Region
1-2) FY2024 Financial Results Seat Production by Region Total By Region +74 （10,000 Units） +9.4% （10,000 Units） YOY Change FY23 FY24 Pct Change 857 784 +52 +18.9% 328 276 △10 +16 △6.2% +11 +12.4% +7.9% +4 142 156 147 143 154 +5.3% 126 82 86 Japan The China Asia & Europe& FY23 FY24 Americas Oceania A
Slide 6: Consolidated Revenue & Operating Profit
1-3) FY2024 Financial Results Consolidated Revenue & Operating Profit Profit increased due to volume increase and a change in the vehicle mix in addition to cost reduction despite an increase in overhead costs and constitutional strengthening costs Volume & Model Mix Operating Profit Variance Analys
Slide 7: FY2024 Financial Forecasts Comparison with the Previous Forecast
1-3) FY2024 Financial Forecasts Comparison with the Previous Forecast 3Q 4Q Difference （100 million yen） announced announced Internal Environmental (Forecast) (Actual) Total efforts changes exc. exc. FY23 Russian business 548 Russian business 548 - - - Volume 262 220 △42 △42 Mix 179 145 △34 △34 Cost
Slide 8: Japan Revenue & Operating Profit
1-3) FY2024 Financial Results Japan Revenue & Operating Profit Profit decreased due to increase in overhead costs and constitutional strengthening costs despite volume increase and changes in the vehicle mix Volume & Model Mix Operating Profit Variance Analysis New product Labor△79 (10,000 units) ef
Slide 9: The Americas Revenue & Operating Profit
1-3) FY2024 Financial Results The Americas Revenue & Operating Profit Profit increased due to volume increase 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 Variance Anal
Slide 10: China Revenue & Operating Profit
1-3) FY2024 Financial Results China Revenue & Operating Profit Profit decreased due to volume decrease and one-time costs despite changes in the vehicle mix following the launch of new products last year Volume & Model Mix Operating Profit Variance Analysis (10,000 units) （100 million yen） Allowance
Slide 11: Asia & Oceania Revenue & Operating Profit
1-3) FY2024 Financial Results Asia & Oceania Revenue & Operating Profit Profit increased due to volume increase from sales promotion in India and Indonesia, cost reduction in addition to the impact of Advance Pricing Agreement last year Volume & Model Mix Operating Profit Variance Analysis (10,000 u
Slide 12: Europe & Africa Revenue & Operating Profit
1-3) FY2024 Financial Results Europe & Africa Revenue & Operating Profit Profit increased due to volume increase, cost reduction and FX impacts, despite an increase in overhead costs and market price Volume & Model Mix Operating Profit Variance Analysis (10,000 units) （100 million yen） +4 82 <+5.3%>
Slide 13: Contents
Contents 1. FY2024 Financial Results 2. FY2025 Financial Forecasts 3. Appendix
Slide 14: Overview of Consolidated Financial Forecasts
2-1) FY2025 Financial Forecasts Overview of Consolidated Financial Forecasts (100 million yen) FY2024 FY2025 YOY Change Actual Forecast Revenue 19,536 100.0% 19,800 100.0% 263 1.4% Operating Profit 786 4.0% 750 3.8% △36 △4.6% Profit before income taxes 873 4.5% 760 3.8% △113 △13.0% Profit* 578 3.0%
Slide 15: Seat Assembly Production by Region
2-2) FY2025 Financial Forecasts Seat Assembly Production by Region Total By Region △2 （10,000 Units） △0.3% （10,000 Units） 857 855 YOY Change FY24 FY25 Pct Change Actual Forecast +12 +3.6% 328 340 +3 △12 +6 +2.0% △8.0% +4.0% △11 142145 147135 154160 △13.3% 86 75 FY24 FY25 Japan The China Asia & Europ
Slide 16: Consolidated Revenue & Operating Profit
2-3) FY2025 Financial Forecasts Consolidated Revenue & Operating Profit Lower profit is expected due to strategic human capital investment for the future and an increase in overhead costs despite of new product effects and profit improvement activities Volume & Model Mix Operating Profit Variance An
Slide 17: Revenue & Operating Profit by Region: Japan, The Americas
2-4) FY2025 Financial Forecasts Revenue & Operating Profit by Region Japan The Americas Higher profit due to volume increase, Higher profit due to volume increase and changes in the vehicle mix and constitutional profit improvement activity despite negative strengthening costs in the previous year i
Slide 18: Revenue & Operating Profit by Region: China, Asia & Oceania
2-4) FY2025 Financial Forecasts Revenue & Operating Profit by Region China Asia & Oceania Lower profit due to volume decrease Lower profit due to changes in the caused by the rapid shift to BEVs* vehicle mix and increase in overhead besides changes in the vehicle mix costs despite volume increase fr
Slide 19: Revenue & Operating Profit by Region: Europe & Africa
2-4) FY2025 Financial Forecasts Revenue & Operating Profit by Region Europe & Africa Lower profit due to volume decrease, impacts of rising labor costs and increase in overhead costs Volume & Model Mix (10,000 units) 86 △ 11 <△13.3%> 75 74 Compact (85.5%) SUV・MPV 11 (12.6%) Large 2 (1.9%) FY24 FY25
Slide 20: 1st/2nd Half by Region
2-5) FY2025 Financial Forecasts 1st/2nd Half by Region Revenue （100 million yen） 1st Half 2nd Half Full Year Japan 4,800 5,000 9,800 The Americas 2,500 2,500 5,000 China 1,000 1,200 2,200 Asia & Oceania 1,300 1,500 2,800 Europe & Africa 500 600 1,100 Total 9,600 10,200 19,800 Operating Profit （100 m
Slide 21: Returning to Shareholders
2-6) FY2025 Financial Forecasts Returning to Shareholders ■ For FY24, dividends are ¥86 as announced previously ■ For FY25, dividends plan is ¥86 which will be determined based on comprehensive evaluation of future forecasts Trends in dividends, operating profit, &profit attributable to owners of th
Slide 22: Summary
2-7) FY2024 Financial Results Summary 【FY24】 ・While profit decreased from the previous forecast as volume decrease in Japan and constitutional strengthening costs are recorded. However, the enhancement of competitiveness through internal efforts, such as improving profitability of unprofitable plant
Slide 23: Contents
Contents 1. FY2024 Financial Results 2. FY2025 Financial Forecasts 3. Appendix
Slide 24: Status of the Consolidated Statement of Financial Position
Appendix1) Status of the Consolidated Statement of Financial Position (Mar.31, 2024) :Compared to the previous Current assets year(100 million yen) 656.2billion yen Liabilities ↓ 570.4billion yen 708.7billion yen ↓ +642 +525 ・increase in operating 634.7billion yen receivables and ・increase in operat
Slide 25: Consolidated Cash Flows
Appendix2）Consolidated Cash Flows 1,748 Cash flows from operating activities: +85.4 billion yen year-on-year Free cash flows: +35.2 billion yen 894 881 year-on-year 529 Major factors ・cash increased due to higher profit etc. FY23 FY24 Cash flows from investing activities: △50.2 billion yen year-on-y
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) 8,000 217 218 228 206 195 195 201 199 207 194 189 194 220 183 177 153 5,071 4,754 4,885 4,824 119 3,828 3,8
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 86 100 85 83 85 79 80 76 75 74 68 67 69 68 62 59 2,333 2,440 50 2,070 2,265 2,290 2,162 1,813 1,882 1,885 1,764 1,815 1,749 1,808 2,0
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 33 35 33 35 35 36 36 40 32 31 30 32 32 29 30 27 1,535 1,149 1,194 1,123 1,070 1,039 12 863 1,000 854 896 881 15 709 752 718 78
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 43 38 39 40 39 39 40 40 38 35 36 34 1,000 30 40 646 673 27 600 628 628 699 464 482 595 599 446 445 548 411 428 434 0 0 1Q 2Q
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 40 34 35 35 38 32 40 29 26 25 1,000 23 21 729 19 697 722 663 634 638 624 528 556 525 20 459 444 417 401 10 342 1
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 23 22 22 21 20 20 20 19 17 18 500 20 13 322 335 358 10 306 296 309 309 251 255 232 258 247 210 216 166 108 0
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