Toyota Motor Corp. · TSE:7203
Toyota Motor — FY2003 Q3 Earnings Presentation
25 slides from Toyota Motor's earnings presentation, Feb 5, 2003
Slide 1: Toyota Motor Corporation FY2003 Q3 Financial Results
Toyota Motor Corporation FY2003 Q3 Financial Results three months ended December 31, 2002 - prepared in accordance with Japan GAAP - February 5, 2003
Slide 2: Cautionary Statement with Respect to Forward-Looking Statements
Cautionary Statement with Respect to Forward-Looking Statements This release 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 other factor
Slide 3: Caution concerning insider trading
Caution concerning insider trading: Under Japanese securities laws and regulations (the "Regulations"), although there are 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 tra
Slide 4: I. Consolidated Financial Summary
I. Consolidated Financial Summary 4
Slide 5: Notes to Consolidated Financial Results
Notes to Consolidated Financial Results 1. Standard for Interim Financial Statements (Japan GAAP) 2. Reviewed by Chuo Aoyama Audit Corporation 3. Terms compared: - Units, Income Statement items: October – December ’01 (Europe, Others: July – September ’01) - Balance Sheet items: March 31, ’02 5
Slide 6: Consolidated Financial Summary
Consolidated Financial Summary FY2003 Q3 FY2002 Q3 (Oct-Dec, '02) (Oct-Dec, '01) Changes (billions of yen) (billions of yen) (billions of yen) % Net Sales 4,186.7 3,697.8 488.9 (13.2) Operating Income 379.4 307.7 71.7 (23.3) Ordinary Income 370.2 232.8 137.4 (59.0) Income before Taxes & Minority Int
Slide 7: Consolidated Vehicle Sales 1
Consolidated Vehicle Sales 1 (thousands of units) [1,494] 2,000 [1,452] 1,579 (+216) 1,363 1,500 (+177) 1,000 Overseas 1,034 857 500 Domestic (+39) 506 545 0 '01/10-12 '02/10-12 Figures in brackets include number of units of Toyota, Daihatsu, and Hino vehicles sold by unconsolidated companies 7
Slide 8: Consolidated Vehicle Sales 2
Consolidated Vehicle Sales 2 (thousands of units) [1,494] 2,000 [1,452] 1,579 (+216) 1,363 1,500 (+89) Other 331 (+16) 242 Europe 170 1,000 154 North (+72) 533 461 America 500 Japan (+39) 506 545 0 '01/10-12 '02/10-12 Figures in brackets include number of units of Toyota, Daihatsu, and Hino vehicles
Slide 9: Contributions to Operating Income
Contributions to Operating Income Increase in Sales (billions of Yen) Cost Reduction +60.0 379.4 (+71.7) Efforts +70.0 307.7 Favorable Forex Rate +20.0 1US$ : 124 -> 123JPY* 1Euro : 111 -> 123JPY* Increase in Depreciation and Labor Costs -78.3 01/10-12 *: Term Median Rate 02/10-12 9
Slide 10: Results for the Nine-months Period Ended December 31, 2002
Results for the Nine-months Period Ended December 31, 2002 FY2003 Q3 FY2002 Q3 (Apr-Dec, '02) (Apr-Dec, '01) Changes (billions of yen) (billions of yen) (billions of yen) % Net Sales 12,073.4 10,531.4 1,542.0 (14.6) Operating Income 1,110.2 814.3 295.9 (36.3) Ordinary Income 1,164.2 759.5 404.7 (53.
Slide 11: Geographical Segments: Japan
Geographical Segments: Japan FY2003 3Q FY2002 3Q Changes Operating billions of yen billions of yen billions of yen % Income 277.4 220.9 56.5 25.6 Alphard Caldina ist WiLL CYPHA G-Book 11
Slide 12: Geographical Segments: North America
Geographical Segments: North America FY2003 3Q FY2002 3Q Changes Operating billions of yen billions of yen billions of yen % Income 89.1 91.5 - 2.4 - 2.6 4Runner Best- Best-selling Best-selling Car Car in in America America ’’02 02 Camry Matrix 12
Slide 13: Geographical Segments: Europe
Geographical Segments: Europe FY2003 3Q FY2002 3Q Changes Operating billions of yen billions of yen billions of yen % Income 0.2 - 1.7 1.9 – Wagon Avensis Liftback Corolla Hatchback Highest Highest Core Core Model Model In In Europe Europe All All New New Avensis Avensis Sedan 13
Slide 14: Geographical Segments: Other
Geographical Segments: Other FY2003 3Q FY2002 3Q Changes Operating billions of yen billions of yen billions of yen times Income 16.3 7.4 8.9 2.2 Corolla Altis October ’02 VIOS Line-off Ceremony at Tianjin Plant VIOS 14
Slide 15: Business Segments: Financial Services
Business Segments: Financial Services Operating Income: 24.3 billion yen (-6.6 billion yen decrease compared to FY2002 3Q) ! Expansion of Financial Services Business Operation: 1.5 billion yen ! Decrease in evaluation profit from interest rate swap agreements entered into by US finance subsidiary: -
Slide 16: Capital Expenditures, Depreciation, R&D
Capital Expenditures, Depreciation, R&D Capital Depreciation R&D Expenditure Expenses Expenses (billions of yen) (billions of yen) (billions of yen) Consolidated Total 198.4 188.4 175.4 Japan 112.9 117.3 North America 43.0 45.9 Europe 21.8 13.7 Other 20.7 11.5 16
Slide 17: Non-operating Income, etc.
Non-operating Income, etc. Non-operating Income: -9.2 billion yen (65.7 billion yen increase) ! Decrease in evaluation losses on marketable securities: 33.6 billion yen ! Increase in non-operating income on equity in earnings of affiliates, etc.: 26.8 billion yen Extraordinary Gains: 10.4 billion ye
Slide 18: II. Unconsolidated Financial Summary
II. Unconsolidated Financial Summary 18
Slide 19: Unconsolidated Results Summary
Unconsolidated Results Summary FY2003 Q3 FY2002 Q3 (Oct-Dec, '02) (Oct-Dec, '01) Changes (billions of yen) (billions of yen) (billions of yen) % Net Sales 2,302.0 2,055.5 246.5 (12.0) Operating Income 236.6 195.1 41.5 (21.3) Ordinary Income 261.8 173.7 88.1 (50.7) Net Income 153.7 102.0 51.7 (50.7)
Slide 20: Repurchase of Shares
Repurchase of Shares Amount Authorized for the Repurchase Amount: Up to 600 billion yen or 170 million shares (for repurchases to be made between Jun ’02-Jun ’03) Repurchased Amount of Toyota Shares Amount: 256.5 billion yen, 85 million shares (aggregate amount for 6 months, Jun ’02-Dec ’02) 20
Slide 21: III. Prospects for FY2003
III. Prospects for FY2003 21
Slide 22: Consolidated Vehicle Sales
Consolidated Vehicle Sales FY2003 Prospects FY2002 as of Feb '03 as of Oct '02 Result* thousands of units Consolidated (+680) (+660) Total 6,220 6,200 5,540 (-10) (+20) Japan 2,210 2,240 2,220 North (+200) (+190) America 1,980 1,970 1,780 (+90) (+80) Europe 820 810 730 (+400) (+370) Other 1,210 1,18
Slide 23: Toyota's Operation
Toyota’s Operation (excluding Daihatsu and Hino) FY2003 Prospects FY2002 as of Feb '03 as of Oct '02 Result* thousands of units Production Domestic 3,510 3,480 3,360 Overseas 2,200 2,200 1,830 Domestic Sales 1,720 1,750 1,720 Exports 1,850 1,800 1,700 Overseas Sales 3,900 3,900 3,600 units Housing S
Slide 24: Unconsolidated Prospects
Unconsolidated Prospects FY2003 Prospects As of Feb '03 As of Oct '02 billions of yen Net Sales 8,600 Operating billions of yen Income No amendment of 820 Ordinary prospected figures will billions of yen Income be made at this time 820 billions of yen Net Income 590 Exchange rate 122 yen/1US$ 116 ye
Slide 25: Toyota Motor Corporation
Toyota Motor Corporation FY2003 Q3 Financial Results three months ended December 31, 2002 - prepared in accordance with Japan GAAP - February 5, 2003