Toyota Boshoku Corp. · TSE:3116
Toyota Boshoku — FY2022 Earnings Presentation
32 slides from Toyota Boshoku's earnings presentation, Apr 28, 2022
Slide 1: FY2022 Financial Results
TSE Prime Market Securities Code 3116 FY2022 (ending March 2022) Financial Results Date: April 28th, 2022
Slide 2: Financial Results
Financial Results 1. FY2022 Financial Results 2. FY2023 Financial Forecasts 3. Appendix
Slide 3: 1. FY2022 Financial Results
Financial Results 1. FY2022 Financial Results 2. FY2023 Financial Forecasts 3. Appendix
Slide 4: Overview of Consolidated Financial Results
1-1) FY2022 Financial Results Overview of Consolidated Financial Results (100 million yen) FY2021 FY2022 YOY Change Revenue 12,721 100.0% 14,214 100.0% 1,493 11.7% Operating Profit 571 4.5% 602 4.2% 31 5.6% Profit before income taxes 573 4.5% 645 4.5% 71 12.5% Profit* 311 2.5% 392 2.8% 80 25.9% *Pro
Slide 5: Seat Production by Region
1-2) FY2022 Financial Results Seat Production by Region Total By Region +30 YOY Change （10,000 Units） +4.3% （10,000 Units） Pct Change 702 732 FY21 FY22 △16 △5.7% 290 273 △3 +13 △2.1% +30 +11.9% +38.0% +7 +9.1% 152149 109 122 109 79 72 78 FY21 FY22 Japan The China Asia & Europe& Americas Oceania Afri
Slide 6: Consolidated Revenue & Operating Profit
1-3) FY2022 Financial Results Consolidated Revenue & Operating Profit Profit increased due to higher production volume, new product effects in addition to profit securing measures despite negative effects of increase in overhead costs and change in external environment Volume & Model Mix Operating P
Slide 7: Japan Revenue & Operating Profit
1-3) FY2022 Financial Results Japan Revenue & Operating Profit Profit decreased due to increase in expenses and employee retention despite new product effects and profit securing measures Volume & Model Mix Operating Profit Variance Analysis (100 million yen) (1,000 units) △164 2,895 <△5.7%> Employe
Slide 8: The Americas Revenue & Operating Profit
1-3) FY2022 Financial Results The Americas Revenue & Operating Profit Profit increased due to higher volume as demand recovered from covid-19 last year and new product effect despite negative effects of material price and overhead costs increase Volume & Model Mix Operating Profit Variance Analysis
Slide 9: China Revenue & Operating Profit
1-3) FY2022 Financial Results China Revenue & Operating Profit Profit decreased as volume decreased due to the parts supply issues and employee retention along with it as well as transient negative impacts Volume & Model Mix Operating Profit Variance Analysis (100 million yen) △32 (1,000 units) Chan
Slide 10: Asia & Oceania Revenue & Operating Profit
1-3) FY2022 Financial Results Asia & Oceania Revenue & Operating Profit Profit increased due to higher volume as demand recovered from covid-19 last year as well as new product launch Volume & Model Mix Operating Profit Variance Analysis (100 million yen) Changes in product (1,000 units) Alleviation
Slide 11: Europe & Africa Revenue & Operating Profit
1-3) FY2022 Financial Results Europe & Africa Revenue & Operating Profit Profit decreased due to material price increase and transient negative factors despite higher volume as demand recovered from last year Volume & Model Mix Operating Profit Variance Analysis (100 million yen) (1,000 units) Labor
Slide 12: 2. FY2023 Financial Forecasts
Financial Results 1. FY2022 Financial Results 2. FY2023 Financial Forecasts 3. Appendix
Slide 13: Overview of Consolidated Financial Forecasts
2-1) FY2023 Financial Forecasts Overview of Consolidated Financial Forecasts (100 million yen) FY22 Actual FY23 Forecasts YOY Change Revenue 14,214 100.0% 15,700 100.0% 1,485 10.5% Operating Profit 602 4.2% 780 5.0% 177 29.4% Profit before income taxes 645 4.5% 810 5.2% 164 25.5% Profit* 392 2.8% 52
Slide 14: Seat Assembly Production by Region
2-2) FY2023 Financial Forecasts Seat Assembly Production by Region Total By Region +158 （10,000 Units） +21.6% （10,000 Units） 732 890 YOY Change FY22 FY23 Pct Change Actual Forecast +64 +23.3% 337 +42 273 +12 +28.2% +27 +9.7% +24.7% +13 191 +17.0% 122134 149 109 136 78 92 FY22 FY23 Japan The China As
Slide 15: Consolidated Revenue & Operating Profit
2-3) FY2023 Financial Forecasts Consolidated Revenue & Operating Profit Higher profit due to production increase as well as new products effects from model changes despite negative impacts of upfront investments aimed at future growth in addition to material price and shipping increase Volume & Mode
Slide 16: Revenue & Operating Profit by Region
2-4) FY2023 Financial Forecasts Revenue & Operating Profit by Region Japan The Americas Higher profit due to volume increase and Higher profit due to volume increase despite new product effects despite increase in negative effects of increase in material material price and increased expenses price,
Slide 17: Revenue & Operating Profit by Region
2-4) FY2023 Financial Forecasts Revenue & Operating Profit by Region China Asia & Oceania Higher profit due to production increase Lower profit due to change in product mix from new product launch despite negative in addition to increase in start-up cost impacts of increased overhead costs despite v
Slide 18: Revenue & Operating Profit by Region
2-4) FY2023 Financial Forecasts Revenue & Operating Profit by Region Europe & Africa Lower profit considering factors as increase in material price and geopolitical risks despite higher volume Volume & Model Mix (1,000 units) +133 917 <+17.0%> 784 585 (74.7%) 36 (4.6%) 147(18.7%) 16 (2.0%) FY22 FY23
Slide 19: 1st/2nd Half by Region
2-5) FY2023 Financial Forecasts 1st/2nd Half by Region Revenue （100 million yen） 1st Half 2nd Half Full Year Japan 3,400 4,100 7,500 The Americas 1,700 1,700 3,400 China 1,300 1,400 2,700 Asia & Oceania 1,000 1,100 2,100 Europe & Africa 500 600 1,100 Consolidated Total 7,400 8,300 15,700 Operating P
Slide 20: Returning to Shareholders
2-6) FY2023 Financial Forecasts Returning to Shareholders ■ For FY22, annual payout is ¥64 as announced previously ■ For FY23, annual dividends plan is ¥70, increased by ¥6 compared to the previous year, which will be determined to based on comprehensive evaluation of future forecasts Trends in divi
Slide 21: Concluding
2-8) Concluding FY2022 Financial Results 【FY22】 ･Achieved previously announced target thanks to new product effects and company-wide efforts to secure profit despite negative impacts of changes in the external environment such as demand fluctuations and material price increase. 【FY23】 ・Aim to “secur
Slide 22: 3. Appendix
Financial Results 1. FY2022 Financial Results 2. FY2023 Financial Forecasts 3. Appendix
Slide 23: Status of the Consolidated Statement of Financial Position
Appendix1) Status of the Consolidated Statement of Financial Position (Mar.31, 2022) :Compared to the previous Current assets year(100 million yen) 506.8billion yen ↓ Liabilities 614.3billion yen 476.1billion yen ↓ +1074 +647 ・ increase in operating 540.9billion yen receivables from higher ・increase
Slide 24: Consolidated Cash Flows
Appendix2）Consolidated Cash Flows Cash flows from operating activities: 1,229 +48.4 billion yen year-on-year 744 820 Free cash flows: +58.9 billion yen year-on-year 230 Major factors ・increase in cash due to higher profit ・less expenses for capital investment etc. FY21 FY22 Cash flows from investing
Slide 25: Quarterly Trends: Consolidated
Appendix3) Quarterly Trends: Consolidated volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue Seat Assembly Production (10,000 Units) 8,000 (100 million yen) 191 195 201 193 190 206 194 195 195 220 181 183 183 189 169 153 JGAAP ◀ ▶ IFRS Revenue 119 3,782 3,48
Slide 26: 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 90 100 85 84 85 79 79 79 76 79 73 73 75 68 67 62 2,003 2,063 1,904 2,076 1,846 1,856 50 2,070 1,840 1,984 1,813 1,882 1,885 1,764 1,8
Slide 27: 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 50 34 35 32 33 30 31 31 30 28 27 29 27 27 29 27 1,000 854 863 25 723 724 727 709 752 718 786 630 664 651 653 624 672 12 279 0
Slide 28: 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 40 43 38 38 39 39 34 35 36 1,000 31 32 31 30 40 28 27 646 600 437 437 468 19 464 446 482 445 399 362 427 389 411 428 254 0 0 1Q 2Q
Slide 29: 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 40 32 34 30 29 28 28 28 28 26 25 24 24 23 21 19 1,000 20 481 487 478 488 10 528 556 453 466 459 389 459 444 417 401 342 197
Slide 30: 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 24 23 23 22 21 22 21 22 22 19 20 20 500 17 20 13 306 242 250 271 232 235 10 251 255 232 258 229 194 222 210 166 108 0
Slide 31: Revenue by Business
Appendix9）Revenue by Business （100 million yen） FY21 Actual FY22 Actual YOY Change Amount % Amount % Amount % Seats 9,322 73.3% 10,511 73.9% 1,189 12.8% Interior & Exterior 2,505 19.7% 2,727 19.2% 222 8.9% Unit Components 893 7.0% 975 6.9% 82 9.2% Total 12,721 100.0% 14,214 100.0% 1,493 11.7% 26
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