Toyota Tsusho Corp. · TSE:8015

Toyota Tsusho — Toyota Tsusho Corp Ord — Q2 2023 Earnings Presentation

27 slides from Toyota Tsusho's earnings presentation, Oct 31, 2023

  1. Slide 1: Outline of Consolidated Results for Second Quarter of FY2023, And Revision of Financial Forecast

    Outline of Consolidated Results for Second Quarter of FY2023, And Revision of Financial Forecast Oct. 31, 2023 Toyota Tsusho Corporation １

  2. Slide 2: Outline of Consolidated Results

    (Reference) FY2022 1-2Q FY2023 1-2Q Outline of Consolidated Results Foreign Exchange Rate USD: 134yen 141yen EUR: 139yen 153yen （Unit：Billion yen） YoY Excluding FY2022 FY2023 Variance FX Impact 1-2Q 1-2Q （ratio） （ratio） Revenue 4,907.7 5,135.2 ＋227.5 ＋38.8 （＋5%） （1%） Gross profit 483.4 520.5 ＋37.1 ＋

  3. Slide 3: Profit Analysis (whole company)

    (Reference) FY2022 1-2Q FY2023 1-2Q Profit Analysis（whole company） Foreign Exchange Rate USD: 134yen 141yen EUR: 139yen 153yen （Unit：Billion yen） 【Operating Profit Analysis】 Automotive Retails FY2022 1-2Q FY2023 1-2Q Markets (7.3) Forex Effect /Prices ＋28.9 Others ＋7.1 (55.4) (13.3) Others Africa ＋1

  4. Slide 4: Profit Analysis (whole company) Others Analysis

    (Reference) FY2022 1-2Q FY2023 1-2Q Profit Analysis（whole company） Foreign Exchange Rate USD: 134yen 141yen EUR: 139yen 153yen （Unit：Billion yen） 【Others Analysis】 FY2022 FY2023 1-2Q 1-2Q Variance Main Factor of variance Finance income 4.4 4.3 (0.1) and costs Equity gain/Loss 19.6 16.5 (3.1) Impact

  5. Slide 5: One-off Gains and Losses (Profit)

    One-off Gains and Losses (Profit) （Unit: Billion yen） FY2022 FY2023 Metals - - - - Global Parts & - - - - Logistics Mobility - - - - Machinery, ・(2Q)Gain from liquidation of gas Business in Australia +1.5 Energy & +0.5 - - ・(2Q)Acquisition cost of domestic electric power business -1.0 Project Chemic

  6. Slide 6: Profit Analysis Results (Division)

    Profit Analysis Results（Division） （Unit: Billion yen） FY2022 FY2023 Variance 1-2Q 1-2Q Main Factor (Ratio) (8.7) ・Impacted by falling Neodymium, PGM and Metals 45.3 36.6 (-19%) Aluminum market prices Global +6.6 ・Increase in automotive parts handling mainly in Parts & 16.3 22.9 (+40%) Japan and Nort

  7. Slide 7: Consolidated Financial Position

    Consolidated Financial Position （Unit：Billion Yen） Mar.31, Sep.30, Variance FX Impact 2023 2023 Total Assets 6,377.0 7,027.6 +650.6 +254.5 （Inventory） 1,227.3 1,299.4 +72.1 +71.5 Net Worth 1,914.3 2,258.4 +344.1 Net Interest- bearing debt 1,298.3 1,404.8 ＋106.5 Net DER (times) 0.68 0.62 (0.06) Curre

  8. Slide 8: Cash Flow

    Cash Flow （Unit：Billion Yen） FY2023 FY2023 YoY FY2022 Actual 1-２Q 1-2Q Variance Variance 1Q 2Q 1-2Q 1-2Q (%) Operating 92.2 111.0 203.2 78.7 +124.5 C/F (+158%) Investing (129.5) (45.6) (175.1) (62.1) (113.0) C/F (+182%) Dividend (37.3) - (37.3) (31.6) (5.7) Payment (+18%) Free C/F After (74.6) 65.4

  9. Slide 9: Cash Flow Reason of variance in Operating C/F, Investing C/F

    Cash Flow Reason of variance in Operating C/F, Investing C/F （Unit : Billion yen） Mainly reason FY2022 1-2Q FY2023 1-2Q 203.2 Impacted by decrease working capital Increase ＋114.7 Operating C/F Operating C/F +124.5 78.7 FY2023 1-2Q Income Before Tax variance ＋22.1 Investing C/F (62.1) Increase Major

  10. Slide 10: Metals Division (1-2Q Profit)

    Metals Division (1-2Q Profit) （Unit：Billion yen） Main Factor of Operating Profit Variance FY2022 1-2Q FY2023 1-2Q Forex Effect ＋1.7 (10.6) 55.9 Market North America(Mobility) (6.6) 45.3 44.2 (7.6) Japan(Lithium etc.) (4.7) 36.6 India(Rare earth) (2.6) Others (11.7) Europe(Steel Products) (2.4) ※ Oth

  11. Slide 11: Global Parts & Logistics Division (1-2Q Profit)

    Global Parts & Logistics Division (1-2Q Profit) FY2022 1-2Q FY2023 1-2Q （Unit: Billion yen） 28.5 (5.6) Main Factor of Operating Profit Variance (4.7) 21.0 22.9 Forex Effect ＋0.7 16.3 Demand Asia/Oceania +2.6 Others ＋7.5 /Trading Volume Japan ＋1.7 ※ Others North America ＋1.6 ※ China +1.2 +7.4 Others

  12. Slide 12: Mobility Division (1-2Q Profit)

    Mobility Division (1-2Q Profit) （Unit: Billion yen） Main Factor of Operating Profit Variance FY2022 1-2Q FY2023 1-2Q Forex Effect (0.4) 39.2 (9.4) Demand <Export・Sales> Europe +3.8 (7.1) 30.2 29.8 /Trading Volume <Exports・Sales>Latin America +2.3 23.1 Others Others ＋9.0 ※ <Exports・Sales> Asia/Oceani

  13. Slide 13: Machinery, Energy & Project Division (1-2Q Profit)

    Machinery, Energy & Project Division (1-2Q Profit) （Unit：Billion yen） Main Factor of Operating Profit Variance FY2022 1-2Q FY2023 1-2Q Forex Effect ＋0.2 (5.3) 24.7 Demand Renewable energy (9.2) 18.0 (5.2) /Trading Volume 19.4 Machinery ＋2.5 (8.2) 12.8 (6.7) Others Others Others Acquisition cost of d

  14. Slide 14: Chemicals & Electronics Division (1-2Q Profit)

    Chemicals & Electronics Division (1-2Q Profit) （Unit：Billion yen） Main Factor of Operating Profit Variance FY2022 1-2Q FY2023 1-2Q Forex Effect ＋0.4 36.6 (7.7) Chemicals Automotive production related +1.7 (10.7) 36.0 28.9 Chemical related (0.3) +1.5 25.3 +0.6 Others Electronics Others ※ In vehicle e

  15. Slide 15: Food & Consumer Services Division (1-2Q Profit)

    Food & Consumer Services Division (1-2Q Profit) （Unit：Billion yen） FY2022 1-2Q FY2023 1-2Q Main Factor of Operating Profit Variance Forex Effect (0.0) 11.2 (4.5) Prices Overseas grain subsidiary ＋8.4 Others Feed grains (0.8) ※ +6.8 6.7 Overseas manufacture and (1.6) 4.4 Others Sales edible oils subs

  16. Slide 16: Africa Division (1-2Q Profit)

    Africa Division (1-2Q Profit) （Unit：Billion yen） Main Factor of Operating Profit Variance FY2022 1-2Q FY2023 1-2Q 62.0 (25.0) Forex Effect ＋4.5 Automotive <Sales> West Africa +9.9 <Production・ Sales related>South Africa +4.7 +23.6 37.0 <Sales>East/South Africa ＋1.9 (18.1) 38.4 Others End of amortiza

  17. Slide 17: Revision of full-year earnings forecast on FY 2023

    Revision of full-year earnings forecast on FY 2023 （Unit：Billion yen） Originally Jul.28,2023 Current Prerequisites Announced Announced Release YEN / USD 125 yen 135 yen 140 yen YEN / EUR 135 yen 145 yen 150 yen Current Release Originally Jul.28,2023 Announced Announced FY2023 Forecast FY2023 Forecas

  18. Slide 18: Approach to Revision of Financial Forecast

    Approach to Revision of Financial Forecast ※Net Profit After Tax （Unit：Billion yen） Originally Jul.28,2023 Announced Announced Current Release FY2023 FY2023 Forecasts Forecasts Revised Variance Ratio Metal 60.0 66.0 70.0 ＋4.0 +6% Global Parts & Logistics 37.0 37.0 41.0 ＋4.0 +11% Mobility 44.0 48.0 5

  19. Slide 19: Shareholders Return Policy

    Shareholders Return Policy Before We will endeavor to maintain a stable dividend and increase dividend per share, with a consolidated dividend payout ratio of 25% or more as a basic policy. 【New Shareholders Return Policy】 After In the period from FY2023 to FY2025. We will achieve progressive divide

  20. Slide 20: Cash Allocation

    Cash Allocation Achieve sustainable growth and strengthen cash generation in the period from FY2023 to FY2025 Investment Policy Financial Policy ・Invest within operating C/F ・ Net DER within 1.0x ・ RA/RB within 1.0x Strong 270 Billion Cash yen or more Additional generation and agile 3-yr cumulative

  21. Slide 21: Shareholders Return Policy Dividend Forecast

    Shareholders Return Policy Dividend Forecast 【Forecast】(Upside Revised) FY2023 Forecast Dividend FY2022 YoY Variance Originally 1Q Oct.31,23 Per Share Actual Variance With 1Q Announced Announced Announced Announced Interim 96yen 102yen 107yen 125yen +29yen +18yen End of term 106yen 102yen 107yen 125

  22. Slide 22: Shareholders Return Policy

    Shareholders Return Policy 【Dividend transition】 Achieve Payout Ratio 30% or more 250 Progressive Dividend FY2023 Profit Profit(Billion Yen) forecast 320.0 Billion yen Dividend Per Share(Yen) 320.0 214 ※Will be reviewed 3500 in the next midterm 202 300.0 plan rolling 3000 200 Increase Dividend for t

  23. Slide 23: Supplementary Materials of Financial Results

    Supplementary Materials of Financial Results 23

  24. Slide 24: Cash Flows from Investing Activities (1-2Q Results)

    Cash Flows from Investing Activities (1-2Q Results) （Unit：Billion yen） Major investment FY2023 FY2023 Progress ・Acquisition of fixed assets in North Forecast 1-2Q Results Mainstay America Blanking Business Investing More than businesses ・Further Investment on knock down C/F (250.0) (175.1) 70% busin

  25. Slide 25: Car Exports and Retail Sales Volume by Key Region and Country

    Car Exports and Retail Sales Volume by Key Region and Country （Unit：units） Export Volume by Region Retail Sales Volume by Region FY2022 FY2023 FY2022 FY2023 Region 1-2Q 1-2Q Variance Region 1-2Q 1-2Q Variance Asia & Oceania 25,053 35,940 +10,887 Asia & Oceania 17,868 18,280 +412 China , Hong Kong &

  26. Slide 26: Financial Summary

    Financial Summary （Unit：Billion yen） J-GAAP IFRS FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 Net sale/ 7,743.2 8,663.4 8,170.2 5,797.3 6,491.0 6,762.7 6,694.0 6,309.3 8,028.0 9,848.5 Revenue (※) Profit (attributable to owners of the 73.0 67.5 (43.7) 107.9 130.2 132.6 135.5

  27. Slide 27: Inquiries

    Inquiries Toyota Tsusho Corporation Investor Relations Group E-mail ttc_ir@pp.toyota-tsusho.com Tokyo Head Office TEL +81-3-4306-8201 ◆ This presentation contains “forward-looking statements” about the strategies and plans of Toyota Tsusho Corporation and its Group companies that are not historical

Toyota Tsusho Corp Ord — Q2 2023 Earnings Presentation on 6ix