Toyota Tsusho Corp Ord (TYHOF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

I will now explain the results and forecasts for fiscal year 2024 and fiscal year 2025. First, I have prepared a summary on the first page. Despite favorable exchange rates, production volumes remained sluggish. However, we were able to achieve a record high profit for the fourth consecutive quarter, which I consider a positive outcome. Turning to the next page, the income statement indicates that the exchange rates for both the dollar and the euro are 8 yen weaker than the previous year as shown in the top right corner. The impact of the yen's depreciation on the currency is shown in the right column. Regarding the company's financial performance, revenue reached 10,309,500,000 yen. Gross profit amounted to 1,121,1 billion yen. However, operating profit fell slightly below 500 billion yen, reaching 497.1 billion yen. Profit stood at 362.5 billion yen. Each of these figures represents a new record high. Notwithstanding the exclusion of the impact of the exchange rate, on a net profit basis, there was a 10.3 billion yen increase due to the exchange rate. However, when viewed in total, there was an increase of 31.1 billion yen. We believe that this growth exceeded the currency impact. The subsequent page presents a multi-chart waterfall model, and on an operating profit basis, there was an increase of 55.6 billion yen. The foreign exchange rate saw an increase of 14.8 billion yen, and in a circular economy business, a negative figure was recorded in the previous fiscal year, indicating a reversal in that sector. The metal plus business demonstrated robust performance propelled by advantageous market conditions. Regarding demand, the lithium-related sector demonstrated a decline in demand. However, other segments exhibited growth, leading to a net increase of 6.5 billio...