3rd Quarter Results 1/2
Toyota Motor Corporation
03 February 2005
For Immediate Release
February 3, 2005
Toyota Announces Third Quarter Financial Results
Net Revenues, Operating Income and Net Income All Increase
(All consolidated financial information has been prepared in accordance with
accounting principles generally accepted in the United States)
TOKYO- TOYOTA MOTOR CORPORATION (TMC) today announced consolidated financial
results for the three months ended December 31, 2004.
On a consolidated basis, net revenues for the third quarter totaled 4.64
trillion yen, an increase of 5.9 percent compared to the corresponding period of
the previous fiscal year. Operating income increased 5.3 percent to 422.9
billion yen, while net income was 296.5 billion yen, up 3.5 percent from the
third quarter of the previous fiscal year.
'During the third quarter, we exceeded our calendar-year sales targets in every
region,' said TMC Executive Vice President Ryuji Araki. 'At the same time, we
were able to offset the negative effects of currency fluctuations and other
factors by implementing initiatives aimed at further growth, including cost
reduction and improved operational efforts.'
In Japan, consolidated sales reached 573 thousand vehicles, an increase of 19
thousand units, or 3.5 percent, compared to the third quarter of the previous
fiscal year, supported by the introduction of new models such as the Isis and
Mark X. On a calendar year basis, market share of Toyota-brand vehicles
(excluding minivehicles) was 44.4 percent, a record high.
In North America, sales of Toyota, Lexus and Scion vehicles continue to be
strong, as third quarter consolidated sales increased by 15 thousand units, or
2.6 percent, to 576 thousand vehicles.
In the U.S., retail sales reached 2.06 million vehicles during the 2004 calendar
year, exceeding Toyota's U.S. sales target and reaching a highest-ever U.S.
market share of 12.2 percent.
Third quarter consolidated sales in Europe reached 249 thousand vehicles, up 31
thousand vehicles, or 14.3 percent, over the corresponding period of the
previous fiscal year. Retail sales on a calendar-year basis totaled 916
thousand vehicles, representing the eighth consecutive year achieving record
high sales in the region.
Consolidated sales in all other regions reached 441 thousand vehicles, an
increase of 74 thousand units, or 20.2 percent over the corresponding period of
the previous fiscal year.
TMC revised its consolidated vehicle sales forecast for the current fiscal year,
which was announced last November. TMC's new sales forecast is 7.29 million
vehicles, an increase of 70 thousand vehicles.
Araki concluded, 'With strong sales momentum worldwide, we will continue to work
hard to achieve last year's profit levels.'
(Please visit the 'For Investors' section of Toyota's homepage for financial
results, http://www.toyota.co.jp/)
Cautionary Statement with Respect to Forward-Looking Statements
This release 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.
# # # #
Contact: Public Affairs Division at (03) 3817-9130/9150/9161/9179
FY2005 Third Quarter Consolidated Financial Results
(October 1, 2004 through December 31, 2004)
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
English translation from the original Japanese-language document
February 3, 2005
Company name : Toyota Motor Corporation
Stock exchanges on which the shares are listed : Tokyo, Nagoya, Osaka, Fukuoka and Sapporo
Stock Exchanges in Japan
Code number : 7203
Location of the head office : Aichi Prefecture
URL : http://www.toyota.co.jp
Representative : Fujio Cho, President
Contact person : Masaki Nakatsugawa, General Manager, Accounting Division
Tel. (0565) 28-2121
Whether or not to be prepared in accordance : Yes
with accounting principles generally accepted
in the United States of America
Results of FY2005 third quarter (October 1, 2004 through December 31, 2004)
(1) Consolidated financial results
(Amounts are rounded to the nearest million yen.)
Net revenues Operating income Income before income taxes,
minority interest and equity in
earnings of affiliated companies
Million yen % Million yen % Million yen %
FY2005 third quarter 4,644,062 <5.9> 422,900 <5.3> 447,188 <4.1>
FY2004 third quarter 4,386,059 <8.2> 401,693 <11.2> 429,705 <43.2>
FY2004 17,294,760 1,666,890 1,765,793
Net income Net income per share Net income per share
- basic - diluted
Million yen % Yen Yen
FY2005 third quarter 296,533 <3.5> 90.35 90.33
FY2004 third quarter 286,470 <59.7> 84.83 84.82
FY2004 1,162,098 342.90 342.86
Note: Regarding net revenues, operating income, income before income taxes,
minority interest and equity in earnings of affiliated companies and net income,
the figures in parentheses show percentage of changes from the corresponding
period of the preceding year.
(2) Consolidated financial position
Total assets Shareholders' equity Ratio of Shareholders' equity
per share
shareholders' equity
Million yen Million yen % Yen
FY2005 third quarter 23,119,134 8,718,716 37.7 2,656.47
FY2004 22,040,228 8,178,567 37.1 2,456.08
Supplement
February 3, 2005
Toyota Motor Corporation
Financial Results for Nine Months
(April 1, 2004 through December 31, 2004)
Consolidated statements of income
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
(Amounts are rounded to the nearest million yen.)
Nine months ended Nine months ended Increase % of
December 31, 2004 December 31, 2003 (Decrease) change
Million yen Million yen Million yen
Net revenues 13,669,727 12,610,300 1,059,427 8.4
Operating income 1,289,149 1,169,462 119,687 10.2
Income before income taxes, minority 1,360,403 1,241,718 118,685 9.6
interest and equity in earnings of
affiliated companies
Net income 880,571 810,930 69,641 8.6
Unconsolidated statements of income
(All financial information has been prepared in accordance with accounting
principles generally accepted in Japan)
(Amounts less than one million yen are
omitted.)
Nine months ended Nine months ended Increase % of
December 31, 2004 December 31, 2003 (Decrease) change
Million yen Million yen Million yen
Net sales 6,793,115 6,594,239 198,876 3.0
Operating income 537,695 635,996 (98,301) (15.5)
Ordinary income 695,077 723,147 (28,070) (3.9)
Income before income taxes 670,080 723,147 (53,067) (7.3)
Net income 419,501 474,210 (54,709) (11.5)
February 3, 2005
Highlights of Consolidated Financial Results
for FY2005 Third Quarter
(October 1, 2004 through December 31, 2004)
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
(Billions of yen unless otherwise specified)
FY2004 Third Quarter FY2005 Third Quarter FY2005 Forecast
(Oct. 2003 through (Oct. 2004 through
Dec. 2003) Dec. 2004) (Apr. 2004 through
% of change Mar. 2005)
from FY2004
Third
Quarter
Vehicle sales 1,700 1,839 8.2% 7,290
(Thousand units)
Net revenues 4,386.0 4,644.0 5.9%
Operating income 401.6 422.9 5.3%
<9.2%> <9.1%>
Income before income taxes, 429.7 447.1
minority interest and equity in
earnings of affiliated <9.8%> <9.6%> 4.1%
companies
Net income 286.4 296.5 3.5%
<6.5%> <6.4%>
Factors contributing to Operating income increased by
increases and decreases in
operating income 21.3 billion yen
(Increase)
Cost reduction efforts 40.0
Marketing efforts 30.0
(Decrease)
Effects of changes in -10.0
exchange rates
Increases in expenses, -38.7
etc
Exchange rates JPY109/US$ JPY106/US$
JPY130/Euro JPY137/Euro
Capital investment 196.9 207.4 1,060.0
(excluding leased vehicles)
Depreciation expenses 180.5 184.1 810.0
Performance evaluation Increases in revenues, operating
income, income before income taxes,
minority interest and equity in
earnings of affiliated companies,
and net income
Note: Toyota prepares its consolidated financial statements in accordance
with accounting principles generally accepted in the United States of America.
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.
FINANCIAL SUMMARY
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
FY2005 Third Quarter
(October 1, 2004 through December 31, 2004)
English translation from the original Japanese-language document
TOYOTA MOTOR CORPORATION
This report contains summarized and condensed financial statements
prepared in accordance with accounting principles generally accepted in the
United States of America.
BUSINESS RESULTS
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
1. Summary of Consolidated Financial Results of FY2005 Third Quarter
Financial Results
Domestic vehicle sales increased by 19 thousand units, or 3.5%, to 573 thousand
units in FY2005 third quarter (the three-month period from October 1, 2004 to
December 31, 2004) compared with FY2004 third quarter. The increase is due to
the launch of new vehicles that met customer needs in the midst of a slowly
recovering market. As a result, the market share of Toyota brand vehicles
excluding minivehicles was 46.4% in FY2005 third quarter. Including Daihatsu
and Hino brand vehicles, Toyota's share including minivehicles was 42.5%. Thus,
Toyota achieved increases in both figures compared to the corresponding period
of the preceding year. Meanwhile, overseas vehicle sales increased by 120
thousand units, or 10.5%, to 1,266 thousand units in FY2005 third quarter
compared with FY2004 third quarter, because, in addition to the sales in major
markets such as North America and Europe, those in other regions also steadily
increased, particularly in Asia. As a result, total vehicle sales in Japan and
overseas increased by 139 thousand units, or 8.2%, to 1,839 thousand units in
FY2005 third quarter compared with FY2004 third quarter.
Net revenues increased by 258.0 billion yen, or 5.9%, to 4,644.0 billion yen in
FY2005 third quarter compared with FY2004 third quarter, and operating income
increased by 21.3 billion yen, or 5.3%, to 422.9 billion yen in FY2005 third
quarter compared with FY2004 third quarter. Among the factors contributing to
the increase in operating income of 70.0 billion yen, cost reduction efforts
accounted for 40.0 billion yen and marketing efforts for 30.0 billion yen. On
the other hand, factors contributing to the decrease in operating income of 48.7
billion yen primarily included the effects of changes in exchange rates of 10.0
billion yen and increases in expenses of 38.7 billion yen. Income before income
taxes, minority interest and equity in earnings of affiliated companies
increased by 17.4 billion yen, or 4.1%, to 447.1 billion yen in FY2005 third
quarter compared with FY2004 third quarter. Net income increased by 10.1
billion yen, or 3.5%, to 296.5 billion yen in FY2005 third quarter compared with
FY2004 third quarter.
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
2. Consolidated Financial Results of FY2005 Third Quarter by Segment
(1) Segment Operating Results
Automotive:
Net revenues for the automotive operations increased by 223.1 billion yen, or
5.5%, to 4,278.4 billion yen in FY2005 third quarter compared with FY2004 third
quarter, and operating income increased by 7.7 billion yen, or 2.2%, to 355.5
billion yen in FY2005 third quarter compared with FY2004 third quarter. The
increase in operating income was mainly due to increases in both production
volume and vehicle units sold in all regions, cost reduction efforts made by TMC
and its subsidiaries, and gains recognized on transfer of the substitutional
portion of the employee pension fund to the government, partially offset by
increases in expenses.
Financial services:
Net revenues for the financial services operations increased by 15.5 billion
yen, or 8.6%, to 196.1 billion yen in FY2005 third quarter compared with FY2004
third quarter, and operating income increased by 6.4 billion yen, or 12.3%, to
58.7 billion yen in FY2005 third quarter compared with FY2004 third quarter.
The increase in operating income was primarily due to solid performance as a
result of an increase in financing volumes and in addition, in FY2005 third
quarter, sales financing subsidiaries in the United States capitalized certain
disbursements, including disbursements made in prior years, directly related to
origination of loans, in accordance with Statement of Financial Accounting
Standards No. 91.
All other:
Net revenues for all other businesses increased by 28.6 billion yen, or 13.3%,
to 243.3 billion yen in FY2005 third quarter compared with FY2004 third quarter,
and operating income increased by 5.5 billion yen, or 97.1%, to 11.0 billion yen
in FY2005 third quarter compared with FY2004 third quarter.
(2) Geographic Information
Japan:
Net revenues in Japan increased by 84.7 billion yen, or 2.9%, to 3,018.3 billion
yen in FY2005 third quarter compared with FY2004 third quarter, and operating
income increased by 11.2 billion yen, or 5.0%, to 237.3 billion yen in FY2005
third quarter compared with FY2004 third quarter. The increase in operating
income was mainly due to increases in both production volume and vehicle units
sold, cost reduction efforts made by TMC and its subsidiaries, and gains
recognized on transfer of the substitutional portion of the employee pension
fund to the government, partially offset by increases in expenses.
North America:
Net revenues in North America decreased by 8.0 billion yen, or 0.5%, to 1,595.7
billion yen in FY2005 third quarter compared with FY2004 third quarter, and
operating income decreased by 0.4 billion yen, or 0.3%, to 127.8 billion yen in
FY2005 third quarter compared with FY2004 third quarter. The decrease in
operating income was mainly due to increase in expenses and the effects of
changes in exchange rates although steady increases in both local production
volume and vehicle units sold.
Europe:
Net revenues in Europe increased by 117.5 billion yen, or 22.8%, to 631.8
billion yen in FY2005 third quarter compared with FY2004 third quarter, and
operating income increased by 1.8 billion yen, or 7.7%, to 26.5 billion yen in
FY2005 third quarter compared with FY2004 third quarter. The increase in
operating income was mainly due to increases in both local production volume and
vehicle units sold, as well as cost reduction efforts.
Other Countries:
Net revenues in other markets increased by 103.4 billion yen, or 17.5%, to 695.9
billion yen in FY2005 third quarter compared with FY2004 third quarter, and
operating income increased by 9.2 billion yen, or 37.5%, to 33.5 billion yen in
FY2005 third quarter compared with FY2004 third quarter. The increase in
operating income was primarily due to substantial increases in both local
production volume and vehicle units sold mainly in Asia, resulting from the
introduction of new models.
CONSOLIDATED PRODUCTION AND SALES
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
1. Production
(Units)
FY2005 third quarter FY2004 third quarter Increase
(October 2004 through (October 2003 through (Decrease)
December 2004) December 2003)
Vehicles Japan 1,115,453 1,099,603 15,850
(new) North America 271,223 259,719 11,504
Europe 155,625 136,960 18,665
Others 263,559 175,856 87,703
Overseas total 690,407 572,535 117,872
Total 1,805,860 1,672,138 133,722
Houses (Japan) 1,414 1,256 158
Note: The total production of vehicles (new) includes 185,727 units of
Daihatsu brand vehicles (including OEM production) in FY2005 third quarter, and
168,805 units in FY2004 third quarter, and 23,560 units of Hino brand vehicles
(including OEM production) in FY2005 third quarter, and 20,957 units in FY2004
third quarter.
2. Sales (by destination)
(Units)
FY2005 third quarter FY2004 third quarter Increase
(October 2004 through (October 2003 through (Decrease)
December 2004) December 2003)
Vehicles Japan 573,115 553,867 19,248
(new) North America 576,113 561,628 14,485
Europe 249,275 218,029 31,246
Others 440,992 366,846 74,146
Overseas total 1,266,380 1,146,503 119,877
Total 1,839,495 1,700,370 139,125
Houses (Japan) 1,443 1,442 1
Note: The total sales of vehicles (new) includes 168,067 units of Daihatsu
brand vehicles in FY2005 third quarter, and 145,181 units in FY2004 third
quarter, and 22,821 units of Hino brand vehicles in FY2005 third quarter, and
19,897 units in FY2004 third quarter.
CONSOLIDATED STATEMENTS OF INCOME
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
(Amounts are rounded to the nearest million yen.)
FY2005 third quarter FY2004 third quarter Increase
(October 2004 through (October 2003 through (Decrease)
December 2004) December 2003)
Net revenues : 4,644,062 4,386,059 258,003
Sales of products 4,452,224 4,210,510 241,714
Financing operations 191,838 175,549 16,289
Costs and expenses : 4,221,162 3,984,366 236,796
Cost of products sold 3,687,929 3,387,726 300,203
Cost of financing operations 86,994 74,590 12,404
Selling, general and 446,239 522,050 (75,811)
administrative
Operating income 422,900 401,693 21,207
Other income (expense) : 24,288 28,012 (3,724)
Interest and dividend income 18,324 13,020 5,304
Interest expense (4,540) (4,209) (331)
Other income, net 10,504 19,201 (8,697)
Income before income taxes, minority 447,188 429,705 17,483
interest and equity in earnings of
affiliated companies
Provision for income taxes 173,004 166,777 6,227
Income before minority interest and 274,184 262,928 11,256
equity in earnings of affiliated
companies
Minority interest in consolidated (16,912) (14,635) (2,277)
subsidiaries
Equity in earnings of affiliated 39,261 38,177 1,084
companies
Net income 296,533 286,470 10,063
(Yen)
Net income per share - basic 90.35 84.83 5.52
Net income per share - diluted 90.33 84.82 5.51
CONSOLIDATED BALANCE SHEETS
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
(Amounts are rounded to the nearest million yen.)
FY2005 third quarter FY2004 Increase
(As of December 31, (As of March 31, 2004) (Decrease)
2004)
Assets
Current assets : 8,796,320 8,848,453 (52,133)
Cash and cash equivalents 1,384,938 1,729,776 (344,838)
Time deposits 73,273 68,473 4,800
Marketable securities 519,261 448,457 70,804
Trade accounts and notes 1,381,343 1,531,651 (150,308)
receivable, less allowance for doubtful
accounts
Finance receivables, net 2,889,796 2,622,939 266,857
Other receivables 368,840 396,788 (27,948)
Inventories 1,181,228 1,083,326 97,902
Deferred income taxes 455,896 457,161 (1,265)
Prepaid expenses and other current 541,745 509,882 31,863
assets
Noncurrent finance receivables, net 3,789,392 3,228,973 560,419
Investments and other assets 5,033,367 4,608,155 425,212
Property, plant and equipment : 5,500,055 5,354,647 145,408
Land 1,167,185 1,135,665 31,520
Buildings 2,829,046 2,801,993 27,053
Machinery and equipment 7,753,897 7,693,616 60,281
Vehicles and equipment on operating 1,652,747 1,493,780 158,967
leases
Construction in progress 252,825 237,195 15,630
Less - Accumulated depreciation (8,115,645) (8,007,602) (148,043)
Total assets 23,119,134 22,040,228 1,078,906
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
(Amounts are rounded to the nearest million yen.)
FY2005 third quarter FY2004 Increase
(As of December 31, (As of March 31, 2004) (Decrease)
2004)
Liabilities
Current liabilities : 7,631,911 7,597,991 33,920
Short-term borrowings 2,529,585 2,189,024 340,561
Current portion of long-term debt 1,026,877 1,125,195 (98,318)
Accounts payable 1,485,943 1,709,344 (223,401)
Other payables 594,524 665,624 (71,100)
Accrued expenses 1,172,372 1,133,281 39,091
Income taxes payable 220,089 252,555 (32,466)
Other current liabilities 602,521 522,968 79,553
Long-term liabilities : 6,277,324 5,817,377 459,947
Long-term debt 4,727,550 4,247,266 480,284
Accrued pension and severance costs 632,900 725,569 (92,669)
Deferred income taxes 838,619 778,561 60,058
Other long-term liabilities 78,255 65,981 12,274
Total liabilities 13,909,235 13,415,368 493,867
Minority interest in consolidated 491,183 446,293 44,890
subsidiaries
Shareholders' equity
Common stock 397,050 397,050 -
Additional paid-in capital 494,403 495,179 (776)
Retained earnings 9,041,487 8,326,215 715,272
Accumulated other comprehensive (172,456) (204,592) 32,136
loss
Treasury stock, at cost (1,041,768) (835,285) (206,483)
Total shareholders' equity 8,718,716 8,178,567 540,149
Total liabilities and shareholders' 23,119,134 22,040,228 1,078,906
equity
SEGMENT INFORMATION
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
1. Segment Operating Results
(1) FY2005 third quarter (October 2004 through December 2004)
(Amounts are rounded to the nearest million yen.)
Automotive Financial All Other Intersegment Consolidated
Services Elimination
Net revenues :
(1) Sales to external 4,274,698 191,838 177,526 - 4,644,062
customers
(2) Intersegment sales 3,777 4,308 65,775 (73,860) -
and transfers
Total 4,278,475 196,146 243,301 (73,860) 4,644,062
Operating expenses 3,922,922 137,435 232,285 (71,480) 4,221,162
Operating income 355,553 58,711 11,016 (2,380) 422,900
(2) FY2004 third quarter (October 2003 through December 2003)
(Amounts are rounded to the nearest million yen.)
Automotive Financial All Other Intersegment Consolidated
Services Elimination
Net revenues :
(1) Sales to external 4,053,213 175,549 157,297 - 4,386,059
customers
(2) Intersegment sales 2,137 5,016 57,404 (64,557) -
and transfers
Total 4,055,350 180,565 214,701 (64,557) 4,386,059
Operating expenses 3,707,551 128,270 209,111 (60,566) 3,984,366
Operating income 347,799 52,295 5,590 (3,991) 401,693
(All financial information has been prepared in accordance with accounting
principles generally accepted in the United States of America)
2. Geographic Information
(1) FY2005 third quarter (October 2004 through December 2004)
(Amounts are rounded to the nearest million yen.)
Japan North America Europe Other Foreign Intersegment Consolidated
Countries Elimination
Net revenues :
(1) Sales to 1,846,872 1,557,782 588,804 650,604 - 4,644,062
external customers
(2) Intersegment 1,171,448 37,971 43,038 45,321 (1,297,778) -
sales and transfers
Total 3,018,320 1,595,753 631,842 695,925 (1,297,778) 4,644,062
Operating expenses 2,780,960 1,467,980 605,282 662,422 (1,295,482) 4,221,162
Operating income 237,360 127,773 26,560 33,503 (2,296) 422,900
(2) FY2004 third quarter (October 2003 through December 2003)
(Amounts are rounded to the nearest million yen.)
Japan North America Europe Other Foreign Intersegment Consolidated
Countries Elimination
Net revenues :
(1) Sales to 1,797,144 1,569,593 468,063 551,259 - 4,386,059
external customers
(2) Intersegment 1,136,497 34,064 46,262 41,266 (1,258,089) -
sales and transfers
Total 2,933,641 1,603,657 514,325 592,525 (1,258,089) 4,386,059
Operating expenses 2,707,513 1,475,445 489,673 568,153 (1,256,418) 3,984,366
Operating income 226,128 128,212 24,652 24,372 (1,671) 401,693
(All financial information has been prepared in accordance with accounting
principles generally accepted in Japan)
UNCONSOLIDATED STATEMENTS OF INCOME
(Million yen; amounts less than one million yen are omitted.)
FY2005 third quarter FY2004 third quarter Increase
(October 2004 through (October 2003 through (Decrease)
December 2004) December 2003)
Net sales 2,333,378 2,292,065 41,313
Operating income 145,299 176,812 (31,513)
Ordinary income 252,694 212,558 40,136
Income before income taxes 252,694 212,558 40,136
Income taxes - current 83,200 87,600 (4,400)
Income taxes - deferred 13,734 (11,200) 24,934
Net income 155,760 136,158 19,602
UNCONSOLIDATED BALANCE SHEETS
(Million yen; amounts less than one million yen are omitted.)
FY2005 third quarter FY2004 Increase
(As of December 31,2004) (As of March 31,2004) (Decrease)
Assets
Current assets 3,028,873 3,358,189 (329,316)
Cash, deposits and trade 947,810 1,124,770 (176,960)
accounts receivable
Marketable securities 785,155 995,893 (210,738)
Others 1,295,907 1,237,524 58,383
Fixed assets 5,553,946 5,458,975 94,971
Property, plant and equipment 1,209,320 1,260,728 (51,408)
Buildings, machinery and 656,726 683,993 (27,267)
equipment
Others 552,593 576,734 (24,141)
Investments and other assets 4,344,626 4,198,247 146,379
Investments in securities 1,796,605 1,601,002 195,603
Others 2,548,021 2,597,245 (49,224)
Total assets 8,582,819 8,817,164 (234,345)
FY2005 third quarter FY2004 Increase
(As of December 31,2004) (As of March 31,2004) (Decrease)
Liabilities
Current liabilities 1,727,198 1,970,407 (243,209)
Long-term liabilities 845,525 862,081 (16,556)
Total liabilities 2,572,724 2,832,489 (259,765)
Shareholders' equity
Common stock 397,049 397,049 -
Capital surplus 416,970 416,970 -
Retained earnings 5,984,728 5,731,342 253,386
Net unrealized gains on other securities 284,285 305,725 (21,440)
Less: treasury stock (1,072,939) (866,413) (206,526)
Total shareholders' equity 6,010,095 5,984,675 25,420
Total liabilities and shareholders' 8,582,819 8,817,164 (234,345)
equity
This information is provided by RNS
The company news service from the London Stock Exchange
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