First Quarter Financial Results （PDF:504.7KB）

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

July 31, 2025

Company name: Toyota Boshoku Corporation Stock exchange listing: Tokyo, Nagoya

Stock code: 3116 URL https://www.toyota-boshoku.com

Representative: President Masayoshi Shirayanagi General Manager, Accounting & Finance

Inquiries:

Division

Masataka Asano TEL +81-566-26-0313

Scheduled date to commence dividend payments: -

Preparation of supplementary material on financial results: Yes

Holding of financial results meeting: Yes (for analysts and institutional investors)

(Amounts less than one million yen are omitted.)

1. Consolidated financial results for the Three Months Ended of June 30, 2025 (from April 1, 2025 to June 30, 2025)

   1. Consolidated operating results (cumulative) Percentages indicate year-on-year changes

      	Revenue		Operating profit		Profit before income taxes		Profit for the period		Profit attributable to owners of the parent		Comprehensive income
      	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      Three months ended June 30, 2025	479,693	(1.7)	18,703	12.0	18,901	(2.6)	13,141	24.7	10,801	24.2	9,324	(70.9)
      Three months ended June 30, 2024	488,000	2.6	16,698	(24.7)	19,405	(23.5)	10,540	(26.5)	8,696	(30.5)	32,077	6.6

      	Earnings per share attributable to owners of the parent - Basic	Earnings per share attributable to owners of the parent - Diluted
      	Yen	Yen
      Three months ended June 30, 2025	60.48	60.47
      Three months ended June 30, 2024	48.73	48.72

   2. Consolidated financial position

      	Total assets	Total equity	Equity attributable to owners of the parent	Ratio of equity attributable to owners of the parent
      	Millions of yen	Millions of yen	Millions of yen	%
      As of June 30, 2025	1,072,508	488,640	446,721	41.7
      As of March 31, 2025	1,094,831	490,067	447,420	40.9

2. Cash dividends

   	Annual dividends per share
   	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
   	Yen	Yen	Yen	Yen	Yen
   Year ended March 31, 2025	-	43.00	-	43.00	86.00
   Year ending March 31, 2026	-
   Year ending March 31, 2026 (Forecast)		43.00	-	43.00	86.00

   (Note) Changes in the forecasted cash dividends in this quarter: None

3. Forecast of consolidated financial results for the year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)

Percentages indicate year-on-year changes

(Note) Changes in the forecast of consolidated financial results in this quarter : None

• Notes

  1. Changes in significant subsidiaries during the Three Months Ended of June 30, 2025 (changes in specified subsidiaries resulting in the change in scope of consolidation): Newly included: - company (Company name)

     Excluded: - companies (Company name)

     None

  2. Changes in accounting policies and changes in accounting estimates

     Changes in accounting policies required by IFRS: None

     Changes in accounting policies due to other reasons: None

     Changes in accounting estimates: None

  3. Number of shares issued (common shares)

Total number of shares issued at the end of the period (including treasury shares) Number of treasury shares at the end of the period

Average number of shares issued during the period (cumulative from the beginning of the fiscal year)

*Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None

*Explanation on the proper use of the forecast on financial results, and other information (Cautionary statement regarding forward-looking statements)

This report contains forward-looking statements based on information available to the Company as of the date hereof and assumptions which it believes are reasonable. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, therefore do not represent any guarantees of future performance. For more information on forecasts, please see "(3) Explanation of Consolidated Forecasts and Other Forward-Looking Information" under "1. Qualitative Information on the Financial Results" on page 2 of the appendix to this consolidated financial report.

(How to obtain supplementary financial results material)

Supplementary financial material will be posted on the Company's website on July 31, 2025(JST)

(Appendix) Contents

1. Qualitative Information on the Financial Results 2

   1. Explanation of Business Results… 2

   2. Explanation of Financial Position 2

   3. Explanation of Consolidated Forecasts and Other Forward-Looking Information 2

2. Consolidated Financial Statements and Notes 3

   1. Consolidated Statement of Financial Position 3

   2. Consolidated Statement of Income and Consolidated Statement of Comprehensive Income 5

   3. Consolidated Statement of Changes in Equity 7

   4. Consolidated Statement of Cash Flows 9

   5. Notes on Consolidated Financial Statements 11

（Notes on Going Concern Assumption）11

（Segment Information）12

- 1 -

1. Qualitative Information on the Financial Results

   1. Explanation of Business Results

      For the three months ended June 30, 2025, revenue decreased by ¥8.3 billion or 1.7%, year over year, to ¥479.6 billion due to the impact of foreign exchange rates, despite an increase in production volume in regions such as Japan and North, Central, and South America. Operating profit increased by ¥2.0 billion or 12.0%, year over year, to ¥18.7 billion. Profit before income taxes decreased by

      ¥0.5 billion or 2.6%, year over year, to ¥18.9 billion. Profit attributable to the owners of the parent increased by ¥2.1 billion or 24.2%, year over year, to ¥10.8 billion. These are mainly due to an increase in production volume and cost reduction.

      Results by segment are as follows.

      1. Japan

         Revenue in Japan decreased by ¥0.3 billion or 0.1%, year over year, to ¥223.8 billion due to changes in model mix despite an increase in production volume. Operating profit decreased by ¥0.9 billion or 99.4%, year over year, to ¥0.0 billion due to the impact of market fluctuations and foreign exchange rates despite an increase in production volume and new products.

      2. North, Central and South America

         Revenue in North, Central and South America decreased by ¥2.9 billion or 2.2%, year over year, to ¥135.1 billion due to the impact of foreign exchange rates despite an increase in production volume. Operating profit increased by ¥2.4 billion or 110.0%, year over year, to ¥4.6 billion due to the cost reduction and increase in production volume, despite an increase in miscellaneous expenses due to the establishment of a new company.

      3. China

         Revenue in China decreased by ¥4.8 billion or 9.1%, year over year, to ¥48.2 billion due to the impact of foreign exchange rates, despite an increase in production volume. Operating profit increased by ¥1.7 billion or 71.6%, year over year, to ¥4.1 billion due to changes in model mix and increase in production volume.

      4. Asia

         Revenue in Asia increased by ¥0.6 billion or 0.9%, year over year, to ¥70.0 billion due to changes in model mix despite a decrease in production volume. Operating profit decreased by ¥0.2 billion or 2.5%, year over year, to ¥9.0 billion due to an increase in miscellaneous expenses despite cost reduction.

      5. Europe and Africa

         Revenue in Europe and Africa decreased by 3.7 billion or 12.1%, year over year, to ¥27.2 billion due to a decrease in production volume. Operating profit decreased by ¥0.9 billion or 51.9%, year over year, to ¥0.8 billion due to the effects of decreased production volume and market fluctuations despite cost reduction and the impact of foreign exchange rates.

   2. Explanation of Financial Position

      Total assets As of June 30, 2025, decreased by ¥22.3 billion to ¥1,072.5 billion due to a decrease in trade and other receivables. The total for liabilities decreased by ¥20.8 billion to ¥583.8 billion year over year. The main factor was a decrease in trade and other payables. Equity decreased by ¥1.4 billion to ¥488.6 billion mainly due to an decrease in other components of equity.

   3. Explanation of Consolidated Forecasts and Other Forward-Looking Information

      As for the forecast of financial results for the fiscal year ending March 31, 2026, the Company expects revenue to be ¥2,000.0 billion, operating profit of ¥80.0 billion, profit before tax to be ¥83.0 billion, profit attributable to owners of the parent to be ¥50.0 billion. These forecasts have not been revised from those disclosed on April 25, 2025.

      The exchange rates assumption is 1USD= ¥145, 1EUR= ¥160, 1THB= ¥4.3, and 1CNY= ¥20.0.

      The above contains statements based on information currently available to the Company as of the time hereof and assumptions which it believes are reasonable. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, therefore do not represent any guarantees of future performance.

2. Consolidated Financial Statements and Notes
   1. Consolidated Statement of Financial Position

      (Millions of yen)

      As of March 31, 2025 As of June 30, 2025

      Assets

      Current assets

      Cash and cash equivalents	249,721	255,730
      Trade and other receivables	290,236	264,119
      Inventories	87,142	87,660
      Other financial assets	19,191	20,273
      Income taxes receivable	7,882	7,402
      Other current assets	14,457	14,649
      Total current assets	668,631	649,835
      Non-current assets Property, plant and equipment	317,221	315,654
      Goodwill	4,938	4,923
      Intangible assets	19,548	18,780
      Investments accounted for using the equity method	14,002	14,148
      Other financial assets	33,923	33,921
      Deferred tax assets	32,846	31,959
      Other non-current assets	3,719	3,286
      Total non-current assets	426,199	422,673
      Total assets	1,094,831	1,072,508

      (Millions of yen)

      As of March 31, 2025 As of June 30, 2025

      Liabilities and equity

      Liabilities

      Current liabilities

      Trade and other payables	234,869	208,550
      Bonds and borrowings	20,787	30,980
      Other financial liabilities	5,149	6,286
      Income taxes payable	14,836	12,035
      Provisions	7,155	7,209
      Other current liabilities	104,653	110,839
      Total current liabilities	387,452	375,902
      Non-current liabilities Bonds and borrowings	146,531	136,479
      Other financial liabilities	7,338	7,890
      Retirement benefit liability	55,075	55,105
      Provisions	713	711
      Deferred tax liabilities	5,000	5,015
      Other non-current liabilities	2,652	2,762
      Total non-current liabilities	217,311	207,965
      Total liabilities	604,763	583,867
      Equity Share capital	8,400	8,400
      Capital surplus	3,245	3,245
      Retained earnings	397,533	400,710
      Treasury shares	(21,211)	(21,211)
      Other components of equity	59,452	55,577
      Total equity attributable to owners of the parent	447,420	446,721
      Non-controlling interests	42,647	41,919
      Total equity	490,067	488,640
      Total liabilities and equity	1,094,831	1,072,508

   2. Consolidated Statement of Income and Consolidated Statement of Comprehensive Income Consolidated Statement of Income

      (Millions of yen)

      	Three months ended	Three months ended
      	June 30, 2024	June 30, 2025
      Revenue	488,000	479,693
      Cost of sales	437,643	429,776
      Gross profit	50,357	49,916
      Selling, general and administrative expenses	33,316	31,995
      Other income	1,642	1,769
      Other expenses	1,984	986
      Operating profit	16,698	18,703
      Finance income	2,698	1,894
      Finance expenses	445	2,200
      Share of profit of investments accounted for using the equity method	453	503
      Profit before income taxes	19,405	18,901
      Income tax expense	8,864	5,759
      Profit for the period	10,540	13,141
      Profit attributable to
      Owners of the parent	8,696	10,801
      Non-controlling interests	1,844	2,339

      Earnings per share attributable to owners of the parent

      Basic (Yen)	48.73	60.48
      Diluted (Yen)	48.72	60.47

      Consolidated Statement of Comprehensive Income

      (Millions of yen)

      Three months ended June 30, 2024

      Three months ended June 30, 2025

      Profit for the period 10,540 13,141

      Other comprehensive income

      Items that will not be reclassified to profit or loss

      Remeasurements of defined benefit plans (67) 27

      Net change in fair value of equity instruments measured at fair value through other comprehensive income

      Share of other comprehensive income of investments accounted for using the equity method

      562 58

      - (14)

      Items that may be reclassified to profit or loss

      Exchange differences on translation of foreign operations 20,903 (3,747)

      Net change in fair value of debt instruments measured at

      fair value through other comprehensive income 0 0

      Share of other comprehensive income of investments accounted for using the equity method Total other comprehensive income, net of tax	137 21,536	(140) (3,816)
      Comprehensive income	32,077	9,324

      Comprehensive income attributable to

      Owners of the parent	28,101	6,983
      Non-controlling interests	3,976	2,341

   3. Consolidated Statement of Changes in Equity

Three months ended June 30, 2024

Three months ended of June 30, 2025

(Millions of yen)

Increase (decrease) in cash and cash equivalents included in assets held for sale

1,189 －

Cash and cash equivalents at end of period 256,187 255,730

1. Notes on Consolidated Financial Statements

   (Notes on Going Concern Assumption)

   There are no applicable items.

   (Segment Information)

   1. Outline of Reportable Segments

      In the three-month period ended June 30, 2025, there are no material changes to the method used to identify the reportable segments, the business activities carried out by each reportable segment, or the measurement standards used to determine segment profits.

   2. Revenue, Profit/Loss for each Reportable Segment

      Three months ended June 30, 2024

      (Millions of yen)

      	Reportable Segment						Eliminations (*1)	Consolidated (*3)
      	Japan	North, Central and South America	China	Asia	Europe and Africa	Total
      Revenue
      Revenue from external customers	204,749	136,748	50,754	65,324	30,423	488,000	-	488,000
      Inter-segment revenue and transfers (*2)	19,451	1,419	2,326	4,038	514	27,749	(27,749)	-
      Total	224,200	138,167	53,080	69,362	30,938	515,750	(27,749)	488,000
      Operating profit (loss)	942	2,197	2,421	9,299	1,780	16,641	57	16,698
      Finance income								2,698
      Finance expenses								445
      Share of profit (loss) of investments accounted for using the equity method								453
      Profit before income taxes								19,405

      (Notes)1. 57 million yen included in "Eliminations" for "Operating profit" is mainly inter-segment transactions.

      1. Inter-segment revenue are based on transaction prices that are determined through price negotiation, taking into account market prices and total costs incurred.

      2. "Operating profit" reconciles to operating profit disclosed in the consolidated financial statement.

Three months ended of June 30, 2025

(Millions of yen)

(Notes)1. 6 million yen included in "Eliminations" for "Operating profit" is mainly inter-segment transactions.

1. Inter-segment revenue are based on transaction prices that are determined through price negotiation, taking into account market prices and total costs incurred.

2. "Operating profit" reconciles to operating profit disclosed in the consolidated financial statement.