1st Quarter Results 5/5
Toyota Motor Corporation
03 August 2005
Supplementary Material for Financial Results for the 3 months ended June 30,
2005 (Consolidated) (U.S. GAAP)
FY2005 FY2006
(Note 1) (Note 1) (Note 1) FY2005 Prospects
1Q 2Q 1st 3Q 4Q 2nd 12 mos. 1Q Ending
Half Half ending March 31
March 2006
31,
2005
Vehicle Production 1,744 1,725 3,469 1,805 1,957 3,762 7,231 1,892
(thousands of units)
(Japan) 1,077 1,100 2,177 1,115 1,242 2,357 4,534 1,123
including Daihatsu &
Hino
(Daihatsu) (162) 165 (327) (173) (192) (365) (692) (175)
(Hino) (23) 25 (48) (23) (22) (45) (93) (24)
(Overseas) 667 625 1,292 690 715 1,405 2,697 769
including Daihatsu &
Hino
(Daihatsu) (12) (14) (26) (13) (15) (28) (54) (14)
(Hino) (-) (-) (-) (-) (-) (-) (-) (-)
North 297 278 575 271 310 581 1,156 320
America
Europe 146 137 283 156 157 313 596 157
Asia 150 131 281 190 176 366 647 205
Latin 21 21 42 18 22 40 82 31
America
Oceania 28 29 57 25 24 49 106 29
Africa 25 29 54 30 26 56 110 27
FY2005 FY2006
(Note 1) (Note 1) (Note 1) FY2005 Prospects
1Q 2Q 1st 3Q 4Q 2nd 12 mos. 1Q Ending
Half Half ending March 31
March 2006
31,
2005
Vehicle Sales 1,791 1,776 3,567 1,839 2,002 3,841 7,408 1,948 7,970
(thousands of units)
(Japan) 538 568 1,106 573 702 1,275 2,381 550 2,420
including Daihatsu &
Hino
(Daihatsu) (126) (131) (257) (129) (165) (294) (551) (133) (550)
(Hino) (10) (14) (24) (12) (15) (27) (51) (10) (60)
(Overseas) 1,253 1,208 2,461 1,266 1,300 2,566 5,027 1,398 5,550
including Daihatsu &
Hino
(Daihatsu) (35) (38) (73) (39) (41) (80) (153) (41) (160)
(Hino) (11) (12) (23) (11) (11) (22) (45) (12) (50)
North 572 554 1,126 576 569 1,145 2,271 641 2,500
America
Europe 247 229 476 249 254 503 979 256 1,040
Asia 202 184 386 195 252 447 833 229 890
Latin 45 46 91 47 47 94 185 61 230
America
Oceania 64 61 125 56 58 114 239 67 260
Africa 56 52 108 64 52 116 224 64 260
the 67 82 149 79 68 147 296 80 370
Middle
East and
Others
FY2005 FY2006
(Note 1) (Note 1) (Note 1) FY2005 Prospects
1Q 2Q 1st Half 3Q 4Q 2nd 12 mos. 1Q Ending March
Half ending 31
March 2006
31, 2005
Total Retail Unit 1,856 1,876 3,732 1,884 2,017 3,901 7,633 2,057
Sales
(thousands of units)
Housing Sales (units) 848 1,346 2,194 1,443 1,646 3,089 5,283 919
Foreign Exchange Rate as premise:
Yen to US 110 110 110 106 105 105 108 108 105
Dollar
Rate
Yen to 132 134 133 137 137 137 135 135 135
Euro Rate approximately
Registered Toyota 378 436 814 430 511 941 1,755 402 1,800
Vehicles (in Japan)
(thousands of units)
Market Share (Japan) approximately
Toyota 46.1 43.3 44.6 46.4 43.0 44.5 44.5 45.0 44%
(excluding
Mini-cars)
(%)
Toyota, 41.6 41.0 42.5 41.1 41.1
Daihatsu
and Hino
(including
Mini-cars)
(%)
Number of Employees 269,310 265,753
(Note 2)
FY2005 FY2006
(Note 1) (Note 1) (Note 1) FY2005 Prospects
1Q 2Q 1st 3Q 4Q 2nd 12 mos. 1Q Ending
Half Half ending March 31
March 2006
31,
2005
Net Revenues (billions of 4,510.3 4,515.3 9,025.6 4,644.0 4,881.9 9,525.9 18,551.5 4,981.7
yen)
Geographical Segment
Japan 2,857.6 2,923.0 5,780.6 3,018.3 3,205.2 6,223.5 12,004.1 2,992.0
North America 1,626.1 1,563.6 3,189.7 1,595.7 1,588.0 3,183.7 6,373.4 1,835.7
Europe 591.0 610.3 1,201.3 631.8 646.3 1,278.1 2,479.4 673.1
Asia 388.3 507.1
Others 282.1 661.9 1,332.3 695.9 780.9 1,476.8 2,809.1 363.4
Elimination -1,234.8 -1,243.5 -2,478.3 -1,297.7 -1,338.5 -2,636.2 -5,114.5 -1,389.6
Business Segment
Automotive 4,199.8 4,139.8 8,339.6 4,278.4 4,495.5 8,773.9 17,113.5 4,620.6
Financial Services 180.9 203.5 384.4 196.1 200.7 396.8 781.2 217.4
All Other 205.7 261.1 466.8 243.3 320.2 563.5 1,030.3 234.4
Elimination -76.1 -89.1 -165.2 -73.8 -134.5 -208.3 -373.5 -90.7
FY2005 FY2006
(Note 1) (Note 1) (Note1) FY2005 Prospects
1Q 2Q 1st 3Q 4Q 2nd 12 mos. 1Q Ending
Half Half ending March 31
March 2006
31,
2005
Operating Income (billions of yen) 448.6 417.6 866.2 422.9 383.0 805.9 1,672.1 405.1
(Operating Income (9.9) (9.2) (9.6) (9.1) (7.8) (8.5) (9.0) (8.1)
Ratio) (%)
Geographical Segment
Japan 253.0 237.6 490.6 237.3 259.3 496.6 987.2 188.4
North 129.8 114.9 244.7 127.8 75.0 202.8 447.5 137.8
America
Europe 30.9 35.4 66.3 26.5 15.7 42.2 108.5 16.7
Asia 24.4 39.8
Others 13.3 33.2 70.9 33.5 36.8 70.3 141.2 17.0
Elimination -2.8 -3.5 -6.3 -2.2 -3.8 -6.0 -12.3 5.4
Business Segment
Automotive 403.8 353.0 756.8 355.5 340.2 695.7 1,452.5 366.8
Financial 46.2 56.5 102.7 58.7 39.4 98.1 200.8 39.7
Services
All Other 1.5 11.2 12.7 11.0 10.0 21.0 33.7 1.5
Elimination -2.9 -3.1 -6.0 -2.3 -6.6 -8.9 -14.9 -2.9
Income before taxes (billions of 470.4 442.8 913.2 447.1 394.3 841.4 1,754.6 421.8
yen)
(Income before taxes (10.4) (9.8) (10.1) (9.6) (8.1) (8.8) (9.5) (8.5)
Ratio) (%)
Equity in Earnings of Affiliated 34.7 24.1 58.8 39.3 41.3 80.6 139.4 35.6
Companies (billions of yen)
Net Income (billions of yen) 286.6 297.4 584.0 296.5 290.7 587.2 1,171.2 266.8
(Net Income Ratio) (%) (6.4) (6.6) (6.5) (6.4) (6.0) (6.2) (6.3) (5.4)
FY2005 FY2006
(Note 1) (Note 1) (Note1) FY2005 Prospects
1Q 2Q 1st 3Q 4Q 2nd 12 mos. 1Q Ending
Half Half ending March 31
March 2006
31,
2005
Research & Development 158.7 192.7 351.4 181.3 222.4 403.7 755.1 180.4 770.0
(billions of yen)
Depreciation (billions of yen) 181.2 210.9 392.1 184.1 199.6 383.7 775.8 190.7 830.0
(Note 3)
Geographical
Segment
Japan 112.8 129.1 241.9 114.4 132.1 246.5 488.4 115.2 520.0
North 38.7 49.8 88.5 37.7 26.8 64.5 153.0 38.6 150.0
America
Europe 16.6 18.5 35.1 16.4 19.8 36.2 71.3 18.4 80.0
Asia 7.5 11.0 45.0
Others 5.6 13.5 26.6 15.6 20.9 36.5 63.1 7.5 35.0
Capital Expenditures (billions of 215.5 285.1 500.6 207.4 379.2 586.6 1,087.2 265.3 1250.0
yen)
(Note 3)
Geographical
Segment
Japan 128.6 153.1 281.7 128.6 264.7 393.3 675.0 157.6 770.0
North 34.6 56.0 90.6 30.7 32.4 63.1 153.7 44.8 220.0
America
Europe 14.7 16.9 31.6 15.8 25.3 41.1 72.7 31.8 110.0
Asia 28.1 23.2 80.0
Others 9.5 59.1 96.7 32.3 56.8 89.1 185.8 7.9 70.0
Total Liquid Assets (billions of 3,415.9 3,521.7
yen)
(Note 4)
Free Cash Flow (billions of yen) -70.3 152.1
(Note 5)
Total Assets (billions of yen) 22,605.4 23,310.1 23,119.1 24,335.0 25,103.6
Shareholders' Equity (billions of 8,349.9 8,542.0 8,718.7 9,045.0 9,167.6
yen)
Return on Equity (%) 13.9 14.0 13.7 13.6 11.7
Return on Asset (%) 5.1 5.2 5.1 5.1 4.3
Number of Consolidated 540 524
Subsidiaries
Number of Affiliates Accounted 56 56
for Under the Equity Method
Contributing Factors to Operating Income FY2006 Q1 (billions of yen, approximately)
Consolidated Unconsolidated Subsidiaries
Marketing Efforts 30.0 -10.0 40.0
Cost Reduction Efforts 30.0 20.0 10.0
From Engineering 20.0 15.0 5.0
From Manufacturing 10.0 5.0 5.0
and Logistics
Unfavorable Foreign Exchange Rate -10.0 -10.0 0.0
Decrease in DAIKO HENJO -6.7 0.0 -6.7
Increases in R&D Expenses, etc -86.8 -64.3 -22.5
Cautionary Statement with Respect to Forward-Looking Statements
This report 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 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 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.
Supplementary Material for Financial Results for the 3 months ended June 30,
2005 (Unconsolidated) (Japan GAAP)
FY2002 FY2003 FY2004
6 mos. 12 mos. 6 mos. 12 mos. 6 mos. 12 mos.
ending ending ending ending ending ending
Sep. 30, March 31, Sep. 30, March 31, Sept. 30, March 31,
2001 2002 2002 2003 2003 2004
Vehicle Production (thousands of 1,644 3,364 1,676 3,513 1,682 3,558
units)
Vehicle Sales (thousands of units) 1,674 3,428 1,691 3,559 1,720 3,625
Japan 850 1,720 800 1,724 830 1,765
Exports 824 1,708 891 1,835 890 1,860
North 353 754 414 841 398 811
America
Europe 200 425 182 392 198 419
Asia 58 106 80 165 71 151
Latin 52 93 34 71 28 61
America
Oseania 58 116 71 137 78 158
Others 103 214 110 229 117 260
Net Sales (billions of yen) 4,011.9 8,284.9 4,204.7 8,739.3 4,302.1 8,963.7
Japan 1,767.3 3,544.3 1,607.3 3,438.4 1,667.5 3,593.1
Exports 2,244.5 4,740.6 2,597.4 5,300.8 2,634.5 5,370.5
Operating Income (billions of yen) 354.2 748.9 471.3 861.3 459.1 833.7
(Operating Income (8.8) (9.0) (11.2) (9.9) (10.7) (9.3)
Ratio) (%)
Ordinary Income (billions of yen) 347.1 768.9 481.7 892.6 510.5 915.7
(Ordinary Income Ratio) (8.7) (9.3) (11.5) (10.2) (11.9) (10.2)
(%)
Net Income (billions of yen) 203.5 470.2 382.2 634.0 338.0 581.4
(Net Income Ratio) (%) (5.1) (5.7) (9.1) (7.3) (7.9) (6.5)
Shareholders Return
Dividend Payout 47.4 101.5 56.8 125.8 67.9 151.2
(billions of yen)
Dividend 13 28 16 36 20 45
Per
Share
(yen)
Payout 23.3 21.6 14.9 19.8 20.1 26.0
Ratio
(%)
Value of shares 129.2 129.2 143.0 143.0 - -
canceled
(billions of yen)
Value of shares 129.2 277.5 163.3 453.4 161.7 398.8
repurchased
(billions of yen)
Number of Outstanding Shares 3,649,997 3,649,997 3,609,997 3,609,997 3,609,997 3,609,997
(thousands)
Number of Employees (Note 2) 65,029 66,820 66,874 65,551 66,099 65,346
FY2005 FY2006 Prospects
6 mos. ending 12 mos. ending 6 mos. Ending 12 mos.
Sept. 30, 2004 March 31, 2005 Sept.30 2005 Ending
March 31,
2006
Vehicle Production (thousands of units) 1,802 3,749 1,800 3,840
Vehicle Sales (thousands of units) 1,805 3,787 1,810 3,880
Japan 838 1,805 810 1,830
Exports 967 1,982 1,000 2,050
North 412 864 480 1,010
America
Europe 197 420 170 350
Asia 82 151 60 120
Latin 38 78 50 80
America
Oseania 89 164 80 160
Others 149 305 160 330
Net Sales (billions of yen) 4,459.7 9,218.3 4,500.0 9,400.0
Japan 1,723.0 3,654.9
Exports 2,736.7 5,563.4
Operating Income (billions of yen) 392.3 701.3 290.0 620.0
(Operating Income Ratio) (%) (8.8) (7.6) (6.4) (6.6)
Ordinary Income (billions of yen) 442.3 856.2 330.0 770.0
(Ordinary Income Ratio) (%) (9.9) (9.3) (7.3) (8.2)
Net Income (billions of yen) 263.7 529.3 220.0 500.0
(Net Income Ratio) (%) (5.9) (5.7) (4.9) (5.3)
Shareholders Return
Dividend Payout (billions of 82.0 212.7
yen)
Dividend Per 25 65
Share (yen)
Payout Ratio 31.1 40.5
(%)
Value of shares canceled - -
(billions of yen)
Value of shares repurchased 208.4 266.2
(billions of yen)
Number of Outstanding Shares (thousands) 3,609,997 3,609,997
Number of Employees (Note 2) 64,408 64,237
(Note 1) 2Q = 1st Half - 1Q , 2nd Half = FY - 1st Half , 4Q = 2nd Half - 3Q
(Note 2) Part-time employees (i.e. seasonal workers) are counted in the figure,
along with full-time employees.
(Note 3) Figures for depreciation and capital expenditures do not include
vehicles in operating lease.
(Note 4) Excluding financial subsidiaries
(Note 5) Calculation: Cash flows from operating activities + Cash flows from
investing activities (excluding financial entities)
Cautionary Statement with Respect to Forward-Looking Statements
This report 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 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 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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