Outline of Consolidated Results for the Fiscal Year Ended ...€¦ · Outline of Consolidated Results for the Fiscal Year Ended March 2012. May 11, 2012. Investor Relation Group

1

Outline of Consolidated Results for the Fiscal Year Ended March 2012

May 11, 2012

Investor Relation GroupE-mail: [email protected]: +81-3-4306-8201 Fax: +81-3-4306-8818

Inquiries to:

2

1. Outline of Consolidated Resultsfor the Fiscal Year Ended March 2012


2. Progress of Investment Plan

3. Consolidated Earnings Forecastfor the Fiscal Year Ending March 2013

4. Supplementary Materials

3

Highlights

◆ Consolidated ROE improved 2.7 percentage points from March 31, 2011

◆ Increases in total assets and net assets (net worth)

◆ Results: Increases in sales and income

・ Net sales: Increases in sales volume, mainly in Metals Division and Machinery, Energy & Project Division

・ Ordinary income: Increase in operating income

◆ Dividend increaseFrom ¥28 per share annually (incl. ¥12 interim dividend) for fiscal year ended March 2011 to ¥42 per share annually (planned; incl. ¥16 interim dividend) for fiscal year ended March 2012

・ Net interest-bearing debt: Up ¥90.7 billion from ¥581.4 billion as of March 31, 2011 to ¥672.1 billion as of March 31, 2012

・Net DER： 1.0 times as of March 31, 2012, unchanged from March 31, 2011

・ From 8.0% for fiscal year ended March 2011 to 10.7% for fiscal year ended March 2012

(2 consecutive years of increases in net sales and ordinary income)

4

Consolidated Results for the Fiscal Year Ended March 2012

Net sales Operating income

Ordinary income

Net income

+3%

5,916.75,743.6

115.1

92.485.266.2

(Billion yen)

March 2011

Results

March 2012

Results

104.2

47.1+8%

+10%

+40%

(% denotes year-on-year change)

5

Increase in Total Assets and Net Assets (Net Worth)

1,976.9

465.6

394.8

1,672.9

March 31, 2011 March 31, 2012

Assets

Net A

ssets

(Billion yen)Increase in total assets: +¥401.2 billion

Increase in net assets: +¥84.4billion

2,837.4 2,436.2

367.9

395.3

667.3 751.7 (Net worth: 595.5)

(Net worth: 640.3)

Net assets Net assets

Cash & cash equivalents: +¥102.1 billionTrade notes & accounts receivable: +¥156.4 billionInventories: +¥27.4 billionProperty and equipment: +¥80.5 billion

[Increase in Net Worth: +¥44.8 billion]Retained earnings: +¥52.1 billionForeign currency translation adjustments: -¥ 8.3 billion

[Other increases: +¥ 39.5 billion]Minority interests: +¥ 39.5 billion

Investments & Other Investments &

Other

PPE & Intangible PPE & Intangible

Current assetsCurrent assets

Total assets Total assets

6

(Billion yen)

Net cash provided by operating

activities

+63.7

-58.7

+5.0

・ Proactive investment for business enhancements: ca. ¥105.0 billion

Capital investments: ca. ¥40.0 billionInvestment in companies: ca. ¥65.0 billion

・Automotive : Non-automotive ratio: ca. 2:8

Cash Flows

Borrowing increased in consideration of emergency crisis response

+97.3

Increase due tonet income

Net cash used in investing activities

Free cash flow Net cash provided by financing activities

7

Net Sales and Operating Income by Division (Year-on-Year Comparison)

1,655.3

620.8 668.8

1,224.5 1,137.2

311.1

32.3

25.413.3

9.9

0.5

11.5-11%

-0%+4%

+2% +2%+21%

+10%

+3%+15%

-82%

-1%

295.1

2.5

+249%

+1%

Net sales

(Billion yen)

March 2011 results

March 2011 results

Metals Global Production Parts & Logistics

Automotive Machinery, Energy & Project

Chemicals & Electronics

Produce & Foodstuffs

Consumer Products, Services & Materials

Operating incom

e

*The above percentages include the impact of foreign exchange.

8

620.8642.1

Global Production Parts & Logistics Division

10.3 9.9

[Net sales]・

Higher market prices (ca. +¥40.0 billion)

・ Increase due to car production (ca. +¥34.0 billion)

・ Decrease in demand (ca. -¥14.0 billion)

[Operating income]・

Decline due mainly to lower car production in North America and Thailand

1,630.81,655.3

37.9

Metals Division


32.3

-11%

Net Sales and Operating Income by Division – Metals, Global Production Parts & Logistics –

-4.1

+4%

+60.1

+2%

+12.5

+3%

+0.3

[Net sales]・

Increase in automotive parts sales volume (ca. +¥12.0 billion)

・ Increase in sales volume of logistics, etc.(ca. +¥0.6 billion)


Essentially unchanged

1,595.235.6

1.536.4 608.3

9.60.7

33.8

(Billion yen)


9

[Net sales]・

Increase in machinery-related (ca. +¥31.0 billion)

Of which automobile-related (ca. +¥32.0 billion)・

Increase in energy- and plant-related (ca. +¥183.0 billion)

Of which crude oil-related (ca. +¥175.0 billion)


Decreased profitability of Australian coal project

1,029.01,224.5

Machinery, Energy & Project Division

0.5

[Net sales]･

Decrease in export volume of automobiles at parent company (ca. -¥42.0 billion)･

Increase in sales at automobile distributors (ca. +¥57.0 billion → Russia +¥24.0 billion; Africa +¥13.0 billion; Australia & Asia +¥12.0 billion; Europe -¥2.5 billion; other +¥10.0

billion)


Increase due to higher sales at automobile distributors

682.5 668.8

25.4

Automotive Division

23.4

Net Sales and Operating Income by Division – Automotive, Machinery, Energy & Project –

3.2+14.3

+2%

+15%

+3.3

+21%

+214.6

-82%-2.6654.5

28.0

22.11.3

1,009.919.1

3.10.1

Net sales Operating income Net sales Operating income

(Billion yen)

10

[Net sales]･

Decrease in electronic parts sales volume (ca. -¥22.0 billion)

(Automotive +¥18.0 billion; Non-automotive -¥40.0 billion) ･

Increases in sales volume of chemical products and synthetic resins (ca. +¥16.0 billion)( Automotive +¥9.0 billion; Non-automotive +¥7.0 billion ）

[Operating income]・Essentially unchanged

1,166.51,137.2

Chemicals & Electronics Division

Net Sales and Operating Income by Division – Chemicals & Electronics,Produce & Foodstuffs –

[Net sales]・

Increase in sales of wheat, etc., and higher market prices


Increase due to higher net sales

Produce & Foodstuffs Division

291.0 311.1

2.512.0 11.5-5.5

-0.1

-0%

-1%

0.7

+10%

+27.8+1.8

+249％1,142.723.8

0.4 11.6

283.37.7

0.80.1

(Billion yen)


11

[Net sales]・

Essentially unchanged


Increase due to sales of real estate held for sale, impact of application of lower-of-cost-or-market method in previous year, etc.

297.6 295.1

Net Sales and Operating Income by Division – Consumer Products, Services & Materials –

13.3

0.8+1.5+12.6

+1%

293.64.0

0.70.1

(Billion yen)

Consumer Products, Services & Materials Division


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Result

FY ended Mar.2011

85.2

92.4

Fiscal Year Ended March 2012

Negative factorsPositive factors

Overview of Positive/Negative Factors Affecting Operating Income for the Fiscal Year Ended March 2012

Result

・Car Production Volume (Toyota Motor)

Billion yen

Increase in car sales

Higher market prices

+2.4+0.6

+11.6 -3.8

-3.9

-1.7-1.1Production-

related

+5.0

Decline in car exports

-1.9Impact of

strong yen on currency exchange

Mainly impact of lower production in North America and

Thailand

Metals, food market prices improved. Semiconductor

market prices worse

Decline in demand for metals and

electronics, covered by production

machinery

Number of units

FY ended Mar.2011

Japan 3.01 million

Overseas 4.34 million

Total:7.34 million units

Total:7.53 million units

Number of units

FY ended Mar.2011

Change

Japan 3.12 million + 0.11 million

Overseas 4.41 million + 0.07 million

Lower-of-cost- or- market

method, allowance for

doubtful receivables, temporary factors, etc.

Australian coal

business

Increasein demand

Mark-to- market

accounting for non-ferrous

metals

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Progress of Investment Plan (Fiscal Years Ended March 2012/Ending March 2013)

Total ¥59.8 billion


Non-autom

otive

Total ¥190 billion

Autom

otive

Total ¥60 billion

Major investments in the fourth quarter・Acquired additional shares in Eurus Energy Holdings Corporation・Bass Gas Project in Australia (acquisition of interest)・Elematec Corporation tender offer (capital and business alliance)

・Coalbed methane (CBM) development and production in Alberta, Canada・Australia CBM Gas Project (development fee)・Overseas power generation business・Others

Major investments in the fourth quarter・Overseas used car business・Established joint venture with parts manufacturer(overseas)・Established overseas dealership

・Expansion of overseas tire assembly business・Establishment of new dealerships in emerging countries・Others

Investment Plan (two years) Investment as of 4Q of fiscal year ended March 2012

FundedFunded

Approved

but not yet funded

Approved

but not yet funded

Total ¥250 billion

Non-automotive investment

1Q – 3Q ¥58.9 billion

4Q ¥29.5 billion

合計 884億円Total ¥88.4 billion

Automotive investment

1Q – 3Q ¥15.8 billion

4Q ¥11.0 billion

Funded ¥115.2 billion

Unfunded ¥83.8 billion



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Assumptions of Forecast for the Fiscal Year Ending March 2013

Indicators for Fiscal Year Indicators for Fiscal Year Ending March 2013Ending March 2013 Forecast for Full Fiscal YearForecast for Full Fiscal Year

Exchange RateExchange Rate（（11US$/1EURUS$/1EUR））

JPJP¥¥80/JP80/JP¥¥105

Interest rates (p.a.)Interest rates (p.a.)JPJP¥¥ (Short(Short--term)term)JPJP¥¥ (Long(Long--term)term)US$US$EUREUR

0.4%0.4%1.1%1.1%0.4%0.4%0.8%0.8%

Toyota MotorToyota Motor’’s automobiles automobileproductionproduction 8.55 million units8.55 million units

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Forecast for the Fiscal Year Ending March 2013

6,700.0

Results Forecast

5,916.7

92.4

115.0 115.1127.0

70.066.2

+13%

+24%

+10%

+6%


Ordinary income

Net income

March 2012

Results

March 2013

Forecast

(Billion yen)

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Forecast by Product (Net sales)

1,900.01,655.3

730.0800.0

1,224.5

1,390.0

1,137.2

+15%

1,270.0

290.0

668.8

295.1

+22%+4%

+20%+18%

-2%620.8

311.1 315.0

+1%

(Billion yen)(% denotes year-on-year change)

Results Forecast

March 2012

Results

March 2013

Forecast






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Forecast by Product (Operating income)

44.0

32.3

+61%

+6%

9.9

27.0

0.5 1.0

17.0

11.0

25.4

13.311.5

+36%

+80%

+47%

16.0

2.02.5

-22%

-18%

(Billion yen)(% denotes year-on-year change)

Results Forecast

March 2012

Results

March 2013

Forecast






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Supplementary Materials

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Supplementary Materials (Contents)

Pages

22･･･

<Supplementary Materials 1> Selling, General and Administrative Expenses23･･･

<Supplementary Materials 2> Non-operating Income and Expenses

24･･･

<Supplementary Materials 3> Number of Consolidated Subsidiaries25･･･

<Supplementary Materials 4> Situations of Companies with Losses and with Negative Net

Worth26･･･

<Supplementary Materials 5> Net Sales and Operating Income by Geographical Area

22

<Supplementary Materials 1> Selling, General & Administrative Expenses

(Billion yen)

Breakdown Mar. 2012results

Mar. 2011results

Year-on-year changes (%) Major factors for increases/decreases

Personnel expenses 132.9 127.9 5.0(3.9%)

+¥1.5 billion from new company

Depreciation expenses (incl. amortizaion of goodwill) 30.6 30.0 0.6

(1.9%)

Provision for doubtful receivables 0.1 4.7 -4.6

(-96.9%)

Other expenses 87.8 82.5 5.3(6.4%)

Due to a +¥1.6 bil. increase in charges and fees, a +¥1.1 bil. increase in traffic and traveling expenses, and an increase in miscellaneous expenses

Subtotal 251.5 245.4 6.1(2.5%)

Selling, General & Administrative Expenses

23

<Supplementary Materials 2> Non-operating Income and Expenses

(Billion yen)

Mar. 2012results

Mar. 2011results

Year-on-year changes Major factors for increases/decreases

Interest income 3.0 2.8 0.2

Interest expenses/ interest on CP -13.6 -13.8 0.2

Dividend income 11.3 9.9 1.4 Increase at parent company and overseas subsidiaries

Equity in the earnings of unconsolidated subsidiaries

and affiliates15.3 13.6 1.7

Mainly an increase in earnings at equity method affiliates of the Machinery, Energy & Project Division and the Chemicals & Electronics Division

Other income 6.6 6.3 0.3

Subtotal 22.7 18.9 3.8

Non-operating Income and Expenses

24

<Supplementary Materials 3> Number of Consolidated Subsidiaries: 579 (up by 141 from March 2011)

* An increase of 136 due to new consolidation, and a decrease of 19 due to merger, sale, liquidation, etc. ** An increase of 44 due to new application of the equity method, and a decrease of 20 due to change to consolidated subsidiary, sale, etc.

March 2012

No. of consolidated subsidiariesChanges from March 2011

Total no. of affiliated companies under Financial Instruments and Exchange

LawThose with losses

Subsidiaries 404 44 117* 485 Domestic 95 12 20 113 Overseas 309 32 97 372

Equity method affiliates 175 27 24** 238

Domestic 17 3 -2 32 Overseas 158 24 26 206

Total 579 71 141 723

◆ Subsidiaries and affiliates are determined based on effective-control and influence approaches.◆ Non-consolidated subsidiaries are mostly those within three years of foundation having little materiality.

25

<Supplementary Materials 4> Situations of Companies with Losses and with Negative Net Worth

With losses With profits

Mar. 2011

Mar. 2012

Mar. 2011

Mar. 2012

No. of companies 43 44 244 360

Equity in earnings/

losses (billion

yen)

-3.8 -4.0 59.2 65.5

With negative net worth

Mar. 2011

Mar. 2012

8 8

-4.0 -4.7

No. of companies

Net Assets(billion

yen)

26

<Supplementary Materials 5> Net Sales and Operating Income by Geographical Area (Year-on-Year Comparison)

(Billion yen)3,789.7

392.4

157.2

31.031.7

10.56.7

+7%

283.4

1,293.9

12.4

March 2011results

March 2012results

-22%

+4% +1%-8％

+9%

+51%-7%

-8% +28%

3,629.41,281.0

425.0

264.4143.6

20.4

34.3

13.4

7.3 9.7

Net sales

Operating incom

e

Japan Asia & Oceania North America Europe Other areas

27

<Supplementary Materials 5-1> Net Sales and Operating Income by Geographical Area - Japan, Asia & Oceania -

[Net sales]・

Increase in sales volume of parent-company Machinery, Energy & Project Division and MetalsDivision


Increase due to sales of real estate held for sale by parent-company Consumer Products, Services & Materials Division, impact of the application of lower-of-cost-or-market method in the previous year, etc.

[Net sales]・

Increase in sales volume at bunker oil sales company in Singapore and automobile distributors in Oceania


Decrease due to lower profitability of Australian coalproject

3,629.43,789.7

31.0 1,281.01,293.9

20.434.3 31.7

+4%

+160.3

+51%

+10.6

+1%

+12.9

-7%

-2.6

(Billion yen)

Japan Asia & Oceania


28

<Supplementary Materials 5-2> Net Sales and Operating Income by Geographical Area - North America, Europe -

[Net sales]・Decrease in sales volume at U.S. subsidiaries in Global Production Parts & Logistics Division and Produce & Foodstuffs Division

[Operating income]・Decrease due to lower profitability of U.S. subsidiaries in

Metals Division, Global Production Parts & Logistics Division and Produce & Foodstuffs Division

[Net sales]・Increase in sales volume at automobile distributors in Russia

[Operating income]・Decrease due to decrease in sales volume at automobile distributors in Europe other than Russia and European subsidiaries

425.0392.4 264.4

283.413.4

10.5

-2.96.77.3

-22%-8%

-32.6

-8%

-0.6

-7%

+19.0

(Billion yen)

North America Europe


29

<Supplementary Materials 5-3> Net Sales and Operating Income by Geographical Area - Other Areas -

[Net sales]・Increase in sales at African subsidiaries in the Global Production Parts & Logistics Division, automobile distributors in Africa and a cottonseed oil refining company in Brazil

[Operating income]・Increase due to higher sales at automobile distributors in

Africa and a cottonseed oil refining company in Brazil

143.6157.2

9.712.4

+9%

+13.6+2.7

+28%

(Billion yen)Other areas


Documents

Outline of Consolidated Results for the Fiscal Year Ended ...€¦ · Outline of Consolidated Results for the Fiscal Year Ended March 2012. May 11, 2012. Investor Relation Group