FY2009 Second Quarter
  Financial Results
--prepared in accordance with U.S.GAAP-
  prepared                    U.S.GAAP-
...
Cautionary Statement with Respect to Forward-Looking Statements
                                                          ...
Caution concerning Insider Trading                                                                           3
Under Japan...
Takahiko Ijichi

Senior Managing Director
FY2009 First Half
-For the 6 months ended Sept.30, 2008-


【Financial Results】
Consolidated Vehicle Sales                                                                                             6
(...
Consolidated Financial Summary                                                       7
                                   ...
Analysis of Consolidated Net Income                                                                                       ...
Geographic Operating Income:Japan (FY2009 First Half)                                       9
<Consolidated Vehicle Sales+...
Geographic Operating Income: North America (FY2009 First Half)
                                                           ...
Geographic Operating Income: Europe (FY2009 First Half)
                                                                  ...
Geographic Operating Income: Asia (FY2009 First Half)                                      12
<Consolidated Vehicle Sales ...
Central and South America,
   Geographic Operating                         Income: Oceania, Africa (FY2009 First Half)
   ...
Business Segment: Financial Services (FY2009 First Half)
                                                                 ...
Equity in Earnings of Affiliated Companies (FY2009 First Half)
                                                           ...
Unconsolidated Financial Summary (Japan GAAP)                      16
                                                    ...
Analysis of Unconsolidated Net Income                                                                                  17
...
Shareholder Return ( Interim Dividend)                                                                          18

Interi...
FY2009
【Forecasts for FY2009】
FY2009 Forecasts: Consolidated Vehicle Sales                                            20

                            8,...
FY2009 Consolidated Forecasts                                                                              21
            ...
Analysis of FY2009 Consolidated Forecasts: Operating Income
                                                              ...
FY2009 Consolidated Forecasts :CAPEX, Depreciation, R&D
                                                                  ...
FY2009 Unconsolidated Forecasts(Japan GAAP)                          24
                                                  ...
FY2009 Toyota’s Operations Forecasts                                    25


                            FY2009           ...
Measures in response to the current crisis               26



1. Secure profits for FY2009 and FY2010
  (⇒To reduce total...
Summary                                                     27

1. Measures in response to the current crisis
2. Strategie...
FY2009 Second Quarter
  Financial Results
-prepared in accordance with U.S.GAAP-




 Toyota Motor Corporation
    Novembe...
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Toyota Fy 2009 Q2 Financial Results

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Toyota Fy 2009 Q2 Financial Results

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Toyota Fy 2009 Q2 Financial Results

  1. 1. FY2009 Second Quarter Financial Results --prepared in accordance with U.S.GAAP- prepared U.S.GAAP- Toyota Motor Corporation November 6, 2008
  2. 2. Cautionary Statement with Respect to Forward-Looking Statements 2 This presentation contains forward-looking statements that reflect Toyota’s plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include: (i) changes in economic conditions and market demand affecting, and the competitive environment in, the automotive markets in Japan, North America, Europe and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro, the Australian dollar, the Canadian dollar and the British pound; (iii) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (iv) changes in the laws, regulations and government policies in the markets in which Toyota operates that affect Toyota’s automotive operations, particularly laws, regulations and government policies relating to trade, environmental protection, vehicle emissions, vehicle fuel economy and vehicle safety, as well as changes in laws, regulations and government policies that affect Toyota’s other operations, including the outcome of future litigation and other legal proceedings; (v) political instability in the markets in which Toyota operates; (vi) Toyota’s ability to timely develop and achieve market acceptance of new products; and (vii) fuel shortages or interruptions in transportation systems, labor strikes, work stoppages or other interruptions 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. A discussion of these and other factors which may affect Toyota’s actual results, performance, achievements or financial position is contained in Toyota’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.
  3. 3. Caution concerning Insider Trading 3 Under Japanese securities laws and regulations (the quot;Regulationsquot;), subject to certain exceptions, any person who receives certain material information relating to the business, etc., of Toyota which may be contained in this document is prohibited from trading in Toyota's shares or certain other transactions related to such shares (as set forth 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 disclosed by ways of electromagnetic means as prescribed by the ordinance of the Cabinet Office (posting on the TDnet (Timely Disclosure Network) information service and ED-NET (Electronic Disclosure Network) information service ) or (ii) twelve (12) hours have elapsed since a listed company, such as Toyota, disclosed such material information to at least two (2) media sources as prescribed by the Regulations.
  4. 4. Takahiko Ijichi Senior Managing Director
  5. 5. FY2009 First Half -For the 6 months ended Sept.30, 2008- 【Financial Results】
  6. 6. Consolidated Vehicle Sales 6 (thousands of vehicles) 5,000 4,301 4,250 (-51) 4,000 (+77) 711 788 Other 452 (+58) 510 Central and 3,000 South America, 635 (-56) Oceania, 579 Africa, The Middle East etc. 2,000 (-140) 1,497 1,357 Asia Europe 1,000 (+10) N. America 1,006 1,016 Japan 0 change '07/4-9 '08/4-9 [-62] [4,701] [4,639] -Figures in square brackets show total retail vehicle sales in thousands
  7. 7. Consolidated Financial Summary 7 (billions of yen) FY2009 First FY2008 First Change Half (’08/4-9) Half (’07/4-9) Net Revenues 13,012.2 12,190.4 -821.8 -6.3% Operating -690.1 582.0 1,272.1 -54.2% Income Income before income taxes, 636.4 -725.8 1,362.2 -53.3% minority interest and equity in earnings of affiliated companies Net Income 493.4 -449.0 942.4 -47.6% FOREX Rates $ -13 yen 119 yen 106 yen € + 1 yen 162 yen 163 yen
  8. 8. Analysis of Consolidated Net Income 8 (billions of yen) Net Income (-449.0) Operating Income (-690.1) Excluding: valuation profit in accounting 942.4 on interest rate swaps (-760.8) Valuation Equity in Increases Effects of Non- Cost Profit in Income Earnings of in Marketing operating Reduction Accounting Tax, etc Affiliated Expenses Activities Income on Interest Efforts Companies +277.8 Rate Swaps -40.0 -330.8 -90.0 -35.7 -1.0 +70.7 493.4 Effects of FOREX Rates -300.0 ’08/4-9 ’07/4-9 <Details of Increases in Expenses> Labor Costs ............... Depreciation and .......... -13.2 -45.4 CAPEX-related Costs R&D Expenses ......... -31.4 Others............................ -240.8
  9. 9. Geographic Operating Income:Japan (FY2009 First Half) 9 <Consolidated Vehicle Sales+Exported Vehicles* (thousands of vehicles)> 2,319 2,285 (billions of yen) 773.3 800 600 Alphard 400 321.7 200 -451.6 Vellfire 0 '07/4-9 '08/4-9 - ・タンドラなどの増販により、米国販売(暦年)は12年連続新記録更新。 Profit declined due to factors such as foreign exchange rates of the yen appreciating against the U.S. dollar ・会計上の評価損益(金利スワップ評価損益)の影響: △238億円 - New car sales in Japan and exports to Russia and the Middle East remained strong * Overseas shipment volume for Toyota only
  10. 10. Geographic Operating Income: North America (FY2009 First Half) 10 <Consolidated Vehicle Sales (thousands of vehicles)> 1,497 1,357 (billions of yen) 300 263.0 Excludes Valuation Profit/Loss in Accounting on Interest 200 Rate Swaps 100 -297.6 Yaris ’08/4-9 0 '07/4-9 '08/4-9 -34.6 Valuation Profit/Loss in Valuation Profit/Loss in -8.9 68.9 Accounting on Interest Rate Accounting on Interest Rate Swaps Swaps Venza Including Valuation Profit/Loss in Including Valuation Profit/Loss in 254.1 34.3 Accounting on Interest Rate Accounting on Interest Rate Swaps Swaps ・タンドラなどの増販により、米国販売(暦年)は12年連続新記録更新。 - Decrease in profit due to slowdown in the U.S. market and the market shift to compact cars ・会計上の評価損益(金利スワップ評価損益)の影響: △238億円 - Toyota’s share in the U.S. market: 17%, a record high for the first half.
  11. 11. Geographic Operating Income: Europe (FY2009 First Half) 11 <Consolidated Vehicle Sales (thousands of vehicles)> 635 579 (billions of yen) 80 68.3 60 iQ 40 20 8.7 -59.6 0 Avensis '07/4-9 '08/4-9 - Sales volume decreased due to slowdowns in Western European markets - Sales in Eastern European markets such as Russia, remained strong
  12. 12. Geographic Operating Income: Asia (FY2009 First Half) 12 <Consolidated Vehicle Sales (thousands of vehicles)> 510 452 (billions of yen) 150 137.2 116.7 120 Avanza 90 60 +20.5 30 Innova 0 '07/4-9 '08/4-9 - Increased sales of the Corolla, fully-remodeled at the beginning of this year ・旺盛な需要に応えたIMVの能増などにより大きく台数が増加。 - Favorable sales of models such as the Avanza and the Innova, ・中国事業の好調な推移により収益が拡大。 mainly in Indonesia
  13. 13. Central and South America, Geographic Operating Income: Oceania, Africa (FY2009 First Half) 13 <Consolidated Vehicle Sales (thousands of vehicles)> 788 711 (billions of yen) 100 79.1 80 71.7 60 Hilux VIGO 40 +7.4 20 0 '07/4-9 '08/4-9 Corolla Flex - ・全ての地域で販売台数が増加。 Profit increased as a result of increased sales volume of the new Corolla in Brazil ・中南米のIMV、豪州カムリの好調な販売。
  14. 14. Business Segment: Financial Services (FY2009 First Half) 14 (billions of yen) 100 86.2 Excludes Valuation Profit/Loss in Accounting on Interest 80 Rate Swaps 60 44.9 40 20 -41.3 0 '07/4-9 '08/4-9 Valuation Profit/Loss in Valuation Profit/Loss in Accounting on Interest Rate Accounting on Interest Rate -8.4 62.3 Swaps Swaps Including Valuation Profit/Loss Including Valuation Profit/Loss in Accounting on Interest Rate 77.8 107.2 in Accounting on Interest Rate Swaps Swaps - Decline in income due to increased allocation to reserves for bad debts and ・会計上の評価損益(金利スワップ評価損益)の影響: △126億円 ・全ての地域で販売台数が増加。 residual value loss reserves ・中南米のIMV、豪州カムリの好調な販売。 ・従来以上の与信管理や回収体制の強化を実行。 - Lending margins continued to expand
  15. 15. Equity in Earnings of Affiliated Companies (FY2009 First Half) 15 (billions of yen) 200.0 145.1 144.1 150.0 100.0 Camry -1.0 50.0 0.0 Corolla '07/4-9 '08/4-9 - ・全ての地域で販売台数が増加。 of affiliated companies maintained The same level of equity in earnings ・中国合弁事業体・国内グループ会社を中心に、好調に推移。 from the same period last year ・中南米のIMV、豪州カムリの好調な販売。
  16. 16. Unconsolidated Financial Summary (Japan GAAP) 16 (billions of yen) FY2009 First FY2008 First Change Half(’08/4-9) Half(’07/4-9) Net Sales -87.9 5,737.1 5,649.2 -1.5% Operating Income -357.2 609.7 252.5 -58.6% -257.2 852.4 595.2 -30.2% Ordinary Income -129.7 601.9 472.2 -21.5% Net Income
  17. 17. Analysis of Unconsolidated Net Income 17 (billions of yen) Net Income (-129.7) Operating Income (-357.2) 601.9 Income Tax, etc Non- Increases Effects of Cost +127.5 operating in 472.2 Marketing Reduction Income Expenses Activities Efforts +100.0 -97.2 -20.0 +60.0 Effects of FOREX Rates -300.0 '07/4-9 '08/4-9 <Details of Increases in Expenses> R&D Expenses ......... -61.5 Others ...... -29.7 Labor Costs ................ -14.1 Depreciation and CAPEX-related Costs ..........+ 8.1
  18. 18. Shareholder Return ( Interim Dividend) 18 Interim Dividend: 65 yen per share 203.7 billion yen Total Amount of Payout : Consolidated Payout Ratio: 41.4% (change: +19.4%) 140 120 90 75 70 65 55 45 36 40 28 25 65 65 20 50 15 35 25 20 16 13 '01/4-'02/3 '02/4-'03/3 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '07/4-'08/3 '08/4-'09/3 Interim Dividend Annual Dividend
  19. 19. FY2009 【Forecasts for FY2009】
  20. 20. FY2009 Forecasts: Consolidated Vehicle Sales 20 8,913 (thousands of vehicles) (-673) 8,240 1,527 8,000 (+13) 1,540 7,000 956 Other (+34) 990 Central and 6,000 1,284 South America, Oceania, (-74) 1,210 Africa, 5,000 The Middle East, etc. 4,000 2,958 (-538) Asia 2,420 3,000 Europe 2,000 N. America (-108) Japan 2,188 2,080 1,000 0 '07/4-'08/3 '08/4-'09/3 [FY2008 Actual] [FY2009 Prospects] *Figures in parenthesis represent year-on-year change
  21. 21. FY2009 Consolidated Forecasts 21 (billions of yen) FY2009 FY2008 Change (’08/4-’09/3) (’07/4-’08/3) 23,000.0 26,289.2 Net Revenues -3,289.2 -12.5% 600.0 2,270.3 -1,670.3 Operating Income -73.6% Income before income taxes, 640.0 2,437.2 -1,797.2 -73.7% minority interest and equity in earnings of affiliated companies 550.0 1,717.8 -1,167.8 Net Income -68.0% 103 yen* 114 yen -11 yen $ FOREX Rates € 146 yen* 162 yen -16 yen *FOREX rates assumptions for the second half: ¥ / $=100, ¥ / €=130
  22. 22. Analysis of FY2009 Consolidated Forecasts: Operating Income 22 (billions of yen) Operating Income FY2008 Actual Results 2,270.3 (’07/4 - ’08/3) - 690.0 Effects of FOREX Rates Effects of -610.0 Marketing Activities -60.0 Cost Reduction Efforts -310.3 Increases in Expenses Total -1,670.3 FY2009 Consolidated 600.0 Forecasts(’08/4 - ’09/3)
  23. 23. FY2009 Consolidated Forecasts :CAPEX, Depreciation, R&D 23 (billions of yen) Capital Depreciation R&D Expenses Expenditures Expenses Consolidated 1,400.0 1,100.0 920.0 (-38.8) (-80.2) (+57.6) Japan 820.0 690.0 (-43.1) (+76.9) N. America 320.0 210.0 (-14.3) (+6.5) Europe 140.0 100.0 (+24.1) (-1.0) Asia 60.0 60.0 (-48.4) (-21.2) Others 60.0 40.0 (+1.5) (-3.6) Figures in parenthesis represent year-on-year change
  24. 24. FY2009 Unconsolidated Forecasts(Japan GAAP) 24 (billions of yen) FY2009 FY2008 Change (’08/4-’09/3) (’07/4-’08/3) 10,600.0 12,079.2 Net Sales -12.2% -1,479.2 140.0 1,108.6 Operating Income -87.4% -968.6 600.0 1,580.6 Ordinary Income -62.0% -980.6 510.0 1,138.1 Net Income -55.2% -628.1
  25. 25. FY2009 Toyota’s Operations Forecasts 25 FY2009 FY2008 (’08/4-’09/3) (’07/4-’08/3) (thousands of vehicles) (thousands of vehicles) 3,850 4,264 Japan Automotive Production 4,070 4,424 Overseas Total 7,920 8,688 1,470 1,595 Sales (Japan) Exports 2,450 2,708 Sales (Overseas) 6,580 6,923 4,800 Units 4,622 Units Housing Sales
  26. 26. Measures in response to the current crisis 26 1. Secure profits for FY2009 and FY2010 (⇒To reduce total costs and maximize revenues) Commencement of activities by the newly-established “ Emergency Profit Improvement Committee” 2. Thorough review of production capabilities by reexamining aspects such as the timing and scale of new projects
  27. 27. Summary 27 1. Measures in response to the current crisis 2. Strategies for mid-to-long term growth (1) Accelerate our hybrid vehicle strategy (2) Reinforce cost reduction for compact models 3. Solid balance sheet Toyota will respond appropriately to the changes in current market conditions, while taking steady actions for future growth
  28. 28. FY2009 Second Quarter Financial Results -prepared in accordance with U.S.GAAP- Toyota Motor Corporation November 6, 2008

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