12 09-12 toyota results-q2-3

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12 09-12 toyota results-q2-3

  1. 1. FY2013 Second Quarter Financial Results SPADEToyota Motor Corporation November 5, 2012
  2. 2. Cautionary Statement with Respect to Forward-Looking Statements 2This presentation contains forward-looking statements that reflect Toyota’s plans and expectations. These forward-lookingstatements are not guarantees of future performance and involve known and unknown risks, uncertainties and otherfactors that may cause Toyota’s actual results, performance, achievements or financial position to be materially differentfrom any future results, performance, achievements or financial position expressed or implied by these forward-lookingstatements. These factors include, but are not limited to: (i) the impact of natural calamities including the negative effect onToyota’s vehicle production and sales; (ii) changes in economic conditions and market demand affecting, and thecompetitive environment in, the automotive markets in Japan, North America, Europe, Asia and other markets in whichToyota operates; (iii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, theU.S. dollar, the euro, the Australian dollar, the Canadian dollar and the British pound, and interest rates fluctuations; (iv)changes in funding environment in financial markets and increased competition in the financial services industry;(v)Toyota’s ability to market and distribute effectively; (vi) Toyota’s ability to realize production efficiencies and to implementcapital expenditures at the levels and times planned by management; (vii) changes in the laws, regulations andgovernment policies in the markets in which Toyota operates that affect Toyota’s automotive operations, particularly laws,regulations and government policies relating to vehicle safety including remedial measures such as recalls, trade,environmental protection, vehicle emissions and vehicle fuel economy, as well as changes in laws, regulations andgovernment policies that affect Toyota’s other operations, including the outcome of current and future litigation and otherlegal proceedings, government proceedings and investigations; (viii) political and economic instability in the markets inwhich Toyota operates; (ix) Toyota’s ability to timely develop and achieve market acceptance of new products that meetcustomer demand; (x) any damage to Toyota’s brand image; (xi) Toyota’s reliance on various suppliers for the provisions ofsupplies; (xii) increases in prices of raw materials; (xiii) Toyota’s reliance on various digital and information technologies;and (xiv) fuel shortages or interruptions in electricity, transportation systems, labor strikes, work stoppages or otherinterruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials,components and supplies for the production of its products or where its products are produced, distributed or sold.
  3. 3. Caution concerning Insider Trading 3A discussion of these and other factors which may affect Toyota’s actual results, performance, achievements orfinancial position is contained in Toyota’s annual report on Form 20-F, which is on file with the United StatesSecurities and Exchange Commission.Under Japanese securities laws and regulations (the "Regulations"), subject to certain exceptions, any person whoreceives certain material information relating to the business, etc. of Toyota which may be contained in thisdocument is prohibited from trading in Toyotas shares or certain other transactions related to such shares (as setforth in the Regulations) until such material information is deemed to be made public. Under the Regulations,material information is deemed to be made public when (i) such material information is notified to a stockexchange and is disclosed by ways of electromagnetic means as prescribed by the ordinance of the CabinetOffice (posting on the TDnet (Timely Disclosure Network) information service ) or (ii) twelve (12) hours haveelapsed since a listed company, such as Toyota, disclosed such material information to at least two (2) mediasources as prescribed by the Regulations.
  4. 4. FY2013 First Half Financial ResultsFor the six months to September 30, 2012
  5. 5. Consolidated Vehicle Sales 5 FY2013 FY2013 1H 2Q(thousands of vehicles) (thousands of vehicles) 5,000 3,000 4,516 (+1,490) 4,000 (+395) 1,192 2,247 (+442) Japan 2,000 (+110) 3,026 1,805 615 3,000 N. America 797 1,261 (+572) 505 Europe 598 (+185) Asia 2,000 689 412 (+51) 413 1,000 Other 203 (+16) 361 187 Central and 840 (+225) South America, 1,000 421 (+66) Oceania, 615 355 Africa, The Middle 811 (+247) 410 (+65) East etc. 564 345 0 0 11/4-9 12/4-9 Change 11/7-9 12/7-9 Change 〔3,674〕 〔4,917〕 〔+1,243〕 〔2,058〕 〔2,431〕 〔+373〕 Figures in “〔 〕“ show total retail vehicle sales in thousands
  6. 6. Consolidated Financial Summary (FY2013 First Half) 6 (billions of yen) FY2013 FY2012 1H 1H Change (12/4-9) (11/4-9)Net Revenues 10,908.3 8,015.9 2,892.4 36.1%Operating Income 693.7 -32.6 726.3 -Income before income taxes and equity in earnings of affiliated companies 794.5 -1.4 795.9 - Net Income* 548.2 81.5 466.6 572.1% $ 79 yen 80 yen -1 yenFOREX Rates € 101 yen 114 yen -13 yen * Net Income attributable to Toyota Motor Corporation
  7. 7. Analysis of Consolidated Net Income* (FY2013 First Half) 7 (billions of yen) * Net Income attributable to Toyota Motor Corporation Net Income* (+466.6) Operating Income (+726.3) Excluding Valuation Gains/Losses from Interest Rate Swaps (+707.3) Marketing Efforts +580.0 548.2 Equity in Cost Effects of Increase in Non- Other Earnings of Income Reduction FOREX Expenses, Operating Affiliated Tax, etc. Efforts Rates etc. Income -3.7 Companies -373.5 +230.0 -60.0 -20.0 +69.6 +44.3 81.5 ’11/4-9 ’12/4-9Details of Increase in Expenses, etc. Details of Other Depreciation and Valuation Gains/Losses from Interest Rate Swaps …+19.0R&D Expenses …………. -30.0 CAPEX-related Costs ……0 Translational FOREX Impact concerningLabor Costs ……………. -15.0 Other …….………….+25.0 overseas subsidiaries etc. ...……………………….-22.7
  8. 8. Consolidated Financial Summary (FY2013 Second Quarter) 8 (billions of yen) FY2013 FY2012 2Q 2Q Change (12/7-9) (11/7-9)Net Revenues 5,406.7 4,574.9 831.9 18.2%Operating Income 340.6 75.4 265.2 351.8%Income before income taxes and equity in earnings of affiliated companies 379.3 79.1 300.2 379.4% Net Income* 257.9 80.4 177.5 220.7% $ 79 yen 78 yen +1 yenFOREX Rates € 98 yen 110 yen -12 yen * Net Income attributable to Toyota Motor Corporation
  9. 9. Analysis of Consolidated Net Income* (FY2013 Second Quarter) 9 (billions of yen) * Net Income attributable to Toyota Motor Corporation Net Income* (+177.5) Operating Income (+265.2) Excluding Valuation Gains/Losses from Interest Rate Swaps (+265.1) Cost Reduction Efforts +160.0 257.9 Equity in Effects of Increase in Non- Marketing Other Earnings of Income FOREX Expenses, Operating Efforts Affiliated Tax, etc. Rates etc. Income +140.0 -4.8 Companies -135.8 -20.0 -10.0 +34.9 +13.1 80.4 ’11/7-9 ’12/7-9Details of Increase in Expenses, etc. Details of Other Depreciation and Valuation Gains/Losses from Interest Rate Swaps…+0.1Labor Costs……….……-20.0 CAPEX-related Costs ……… +5.0 Translational FOREX Impact concerningR&D Expenses…….……-20.0 Other………………………+25.0 overseas subsidiaries etc. ..………………….……..-4.9
  10. 10. Geographic Operating Income (FY2013 First Half) 10 (billions of yen) * N.America excludes Valuation Gains/Losses from Interest Rate Swaps North America 11/4-9 12/4-9 Change Operating Income Excluding Valuation Gains/Losses from Interest Rate Swaps 45.9 154.6 108.7 Valuation Gains/Losses from Interest Rate Swaps 15.6 28.0 12.4 Operating Income 61.5 182.6 121.0 250.8 194.5 154.6* +526.7 +108.7 +13.9 +63.9 +0.6 130.5 45.9* 12.0 58.1 58.7 FY12 FY13 FY12 FY13 FY12 FY13 FY12 FY13 FY12 FY13 1H 1H 1H 1H 1H 1H 1H 1H 1H 1H -1.9(billions of yen) -275.9 Central and South America, Japan N. America Europe Asia Oceania and Africa
  11. 11. Geographic Operating Income (FY2013 Second Quarter) 11 (billions of yen) * N.America excludes Valuation Gains/Losses from Interest Rate Swaps North America 11/7-9 12/7-9 Change Operating Income Excluding Valuation Gains/Losses from Interest Rate Swaps 13.0 58.9 45.9 Valuation Gains/Losses from Interest Rate Swaps 19.5 6.0 -13.4 Operating Income 32.5 64.9 32.4 143.7 92.9 70.4 +213.0 +45.9 +3.0 +22.5 -5.5 58.9* 5.6 8.6 37.1 31.5 13.0* FY12 FY13 FY12 FY13 FY12 FY13 FY12 FY13 FY12 FY13 2Q 2Q 2Q 2Q 2Q 2Q 2Q 2Q 2Q 2Q(billions of yen) -69.3 Central and South America, Japan N. America Europe Asia Oceania and Africa
  12. 12. Excluding Valuation Gains/Losses Financial Services Operating Income from Interest Rate Swaps 12 FY2013 FY2013(billions of yen) 1H (billions of yen) 2Q 200 150 163.4 147.8 150 100 77.7 100 66.5 50 50 -15.5 +11.2 0 0 11/4-9 12/4-9 11/7-9 12/7-9 (billions of yen) (billions of yen) 11/4-9 12/4-9 Change 11/7-9 12/7-9 Change Operating Income Excluding Operating Income Excluding Valuation Gains/Losses from 163.4 147.8 -15.5 Valuation Gains/Losses from 66.5 77.7 11.2 Interest Rate Swaps Interest Rate Swaps Valuation Gains/Losses from Valuation Gains/Losses from 7.6 26.6 19.0 9.9 10.0 0.1 Interest Rate Swaps Interest Rate Swaps Operating Income 171.0 174.5 3.4 Operating Income 76.4 87.7 11.3 Decreased earnings for the first half as a result of reduced reversal of provisions, etc. Increased earnings for the second quarter due to increased lending balance, etc.
  13. 13. Equity in Earnings of Affiliated Companies 13 FY2013 FY2013 1H 2Q(billions of yen) (billions of yen) 150 100 123.8 100 79.5 52.5 50 39.3 50 +44.3 +13.1 0 0 11/4-9 12/4-9 11/7-9 12/7-9 Earnings increased, due to improved earnings of affiliated companies in Japan.
  14. 14. Unconsolidated Financial Summary (Japan GAAP, FY2013 First Half) 14 (billions of yen) FY2013 FY2012 1H 1H Change (12/4-9) (11/4-9)Net Revenues 4,879.2 3,346.6 1,532.5 45.8%Operating Income 67.7 -322.3 390.1 -Ordinary Income 405.5 -75.6 481.2 - Net Income 316.8 49.7 267.1 537.2%
  15. 15. Shareholder Return 15 Interim Dividend: 30 yen per Share (Total Amount of Payout: 95.0 billion yen)Dividend per Share Net Income (yen) (billions of yen) 200 20,000 2,000 Dividend per Share and Net Income Net Income(Right axis) 150 140 15,000 1,500 120 100 100 90 75 10,000 1,000 70 65 35 45 55 45 50 50 50 40 5,000 500 25 65 65 30 30 50 25 35 30 20 25 20 20 20 0 0 04/3 05/3 06/3 07/3 08/3 09/3 10/3 11/3 12/3 13/3 -50 -500 -5,000 Interim Dividend Year-End Dividend
  16. 16. FY2013Financial Forecasts
  17. 17. FY2013 Forecasts: Consolidated Vehicle Sales 17 (thousands of vehicles)10,000 8,800 8,750 (-50) 8,000 2,250 (±0) 7,352 2,250 Japan 2,071 6,000 N. America 2,380 2,400 (+20) Europe 1,872 4,000 Asia 830 790 (-40) 798 Other Central and 1,780 1,730 (-50) South America, 2,000 1,327 Oceania, Africa, The Middle 1,560 1,580 (+20) 1,284 East, etc. 0 Change 11/4-12/3 12/4-13/3 12/4-13/3 Previous Forecasts New Forecasts FY2012 Results
  18. 18. FY2013 Forecasts: Consolidated Financial Summary 18 (billions of yen) New Forecasts Previous Forecasts FY2012 Results (12/4-13/3) (12/4-13/3) Change (11/4-12/3) Net Revenues 21,300.0 22,000.0 -700.0 18,583.6 Operating Income 1,050.0 1,000.0 50.0 355.6Income before income taxes and equity in earnings of 1,180.0 1,160.0 20.0 432.8 affiliated companies 1 Net Income * 780.0 760.0 20.0 283.5 $ 79 yen*2 80 yen -1 yen 79 yenFOREX Rates € 100 yen*2 101 yen -1 yen 109 yen*1 Net Income attributable to Toyota Motor Corporation*2 FOREX Rate assumptions: 78 yen against the U.S. dollar and 100 yen against the Euro from October 2012 to March 2013
  19. 19. Analysis of FY2013 Forecasts: Consolidated Operating Income(vs. Previous Forecasts) 19 (billions of yen) Operating Income FY2013 Previous Forecasts(12/4-13/3) 1,000.0 Cost Reduction Efforts +100.0 Positive Factors Decrease in Expenses, etc. +40.0 Total +140.0 Effects of Marketing Activities -50.0 Financial Services +5.0 Negative Factors Effects of FOREX Rates -40.0 Total -90.0 Grand Total +50.0 FY2013 New Forecasts(12/4-13/3) 1,050.0 Forecast for Capital Expenditures : 820.0 billion yen (No change from previous forecast) Forecast for Depreciation Expenses : 730.0 billion yen (No change from previous forecast) Forecast for R&D Expenses : 810.0 billion yen (No change from previous forecast)
  20. 20. FY2013 Second Quarter Financial Results AURISToyota Motor Corporation November 5, 2012
  21. 21. (Reference) Unconsolidated Financial Summary (Japan GAAP, FY2013 Forecasts) 21 (billions of yen) New Forecasts Previous Forecasts FY2012 Results (12/4-13/3) Change (12/4-13/3) (11/4-12/3)Net Revenues 9,200.0 9,500.0 -300.0 8,241.1Operating Income -20.0 -70.0 50.0 -439.8Ordinary Income 570.0 500.0 70.0 23.0 Net Income 470.0 420.0 50.0 35.8
  22. 22. (Reference)FY2013 Forecasts: Vehicle Production and Sales (Toyota and Lexus) 22 (thousands of vehicles) FY2013 Forecasts FY2012 Results (12/4-13/3) (11/4-12/3) Japan 3,300 3,119 VehicleProduction Overseas 5,150 4,410 Total 8,450 7,529 Japan* 1,600 * 1,413 * Vehicle Sales Overseas 7,000 5,999 Total 8,600 7,412 Exports 1,850 1,670 *Shows retail vehicle sales

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