Detailed Interim Results 4/5A
Toyota Motor Corporation
24 December 2002
(Segment Information)
1. Business Segment Information
FY 2002 semi-annual (April 2001 through September 2001)
(in millions of Yen )
Automotive Financial All other Total Elimination Consolidated
services and/or
unallocated
assets
Net sales
(1) Sales to external customers 6,259,368 308,005 266,187 6,833,560 --- 6,833,560
(2) Intersegment sales or 23,766 7,576 122,184 153,526 ( 153,526 ) ---
transfers
Total 6,283,134 315,581 388,371 6,987,087 ( 153,526 ) 6,833,560
Operating expenses 5,791,163 295,707 385,816 6,472,686 ( 145,707 ) 6,326,979
Operating income 491,971 19,873 2,555 514,400 ( 7,819 ) 506,581
(Notes)
1. The division of segments
Segments are divided by the type of products and services provided.
2. Main products and services of each segment
Automotive -- Passenger cars, trucks, buses, etc.
Financial services -- Sales finance, etc.
All other -- Housing, information technology, etc.
3. The following table is a breakdown by segment of the assets, depreciation
expenses and capital expenditure belonging to each segment.
Unallocated corporate assets included in 'Elimination and/or unallocated assets'
is JPY3,011,167 million, and consists primarily of funds such as cash and
deposits, marketable securities and portion of investments in securities of TMC.
(in millions of Yen)
Automotive Financial All other Total Elimination Consolidated
services and/or
unallocated
assets
Assets 8,968,180 5,965,004 697,863 15,631,048 2,665,693 18,296,742
Depreciation expenses 320,051 52,751 9,272 382,075 --- 382,075
Capital expenditure 422,730 229,055 18,405 670,190 --- 670,190
(Note) 4. Semi-Annual Consolidated Financial Statements as Classified
into Non-Financial Services Business and Financial Services Business
(a) Semi-Annual Consolidated Balance Sheet as Classified into Non-Financial
Services Business and Financial Services Business
(in millions of Yen)
FY 2002 semi-annual
(As of September 30, 2001)
Amount Percentage
Assets %
(Non-Financial Services Business)
I Current assets
1. Cash and deposits 959,306
2. Trade notes and accounts receivable 1,368,006
3. Marketable securities 1,243,390
4. Inventories 914,593
5. Other 1,033,646
Total current assets 5,518,943 30.2
II Fixed assets
(1) Property, plant and equipment 4,121,131 22.5
(2) Investments and other assets
1. Investments in securities 2,459,829
2. Long-term loans 313,348
3. Other 454,802
Total investments and other assets 3,227,981 17.6
Total fixed assets 7,349,112 40.1
Total assets 12,868,056 70.3
(Financial Services Business)
I Current assets
1. Cash and deposits 165,391
2. Trade notes and accounts receivable 48,932
3. Marketable securities 21,535
4. Inventories 4,124
5. Installment credit from dealers 2,620,662
6. Other 1,366,803
Total current assets 4,227,450 23.1
II Fixed assets
(1) Property, plant and equipment 929,566 5.1
(2) Intangible fixed assets 4,278 0.0
(3) Investments and other assets
1. Investments in securities 218,536
2. Long-term loans 569,219
3. Other 15,952
Total investments and other assets 803,708 4.4
Total fixed assets 1,737,553 9.5
Total assets 5,965,004 32.6
(Elimination)
Elimination of assets (536,318) (2.9)
(Consolidated)
Total assets 18,296,742 100.0
(in millions of Yen)
FY2002 semi-annual
(As of September 30, 2001)
Amount Percentage
Liabilities %
(Non-Financial Services Business)
I Current liabilities
1. Trade notes and accounts payable 1,307,404
2. Current portion of bonds 144,150
3. Short-term borrowings 902,234
4. Accrued expenses and other accounts payable 1,185,103
5. Income taxes payable 252,364
6. Other 429,452
Total current liabilities 4,220,709 23.0
II Long-term liabilities
1. Bonds and convertible debentures 433,307
2. Long-term borrowings 263,102
3. Other 855,096
Total long-term liabilities 1,551,506 8.5
Total liabilities 5,772,215 31.5
(Financial Services Business)
I Current liabilities
1. Trade notes and accounts payable 34,867
2. Current portion of bonds 705,213
3. Short-term borrowings 552,785
4. Accrued expenses and other accounts payable 86,268
5. Income taxes payable 4,583
6. Other 1,003,265
Total current liabilities 2,386,984 13.1
II Long-term liabilities
1. Bonds 2,454,677
2. Long-term borrowings 460,844
3. Other 258,066
Total fixed liabilities 3,173,588 17.3
Total liabilities 5,560,572 30.4
(Elimination) Elimination of liabilities (537,392) (2.9)
(Consolidated) Total liabilities 10,795,395 59.0
Minority interest
(Consolidated) Minority interest in consolidated 456,828 2.5
subsidiaries
Shareholders' equity
(Consolidated)
I Common stock 397,049 2.2
II Additional paid-in capital 415,150 2.3
III Retained earnings 6,253,584 34.1
IV Net unrealized gains on other securities 168,926 0.9
V Translation adjustments (151,885) (0.8)
7,082,826 38.7
VI Treasury stock (4,270) (0.0)
VII Common stock of the parent held by consolidated (34,038) (0.2)
subsidiaries
Total shareholders' equity 7,044,517 38.5
(Consolidated) Total liabilities, minority interest and 18,296,742 100.0
shareholders' equity
(Note) Assets under non-financial services include unallocated corporate assets.
(b) Semi-Annual Consolidated Statement of Income as Classified into
Non-Financial Services Business and Financial Services Business
(in millions of Yen)
FY 2002 semi-annual
(April 2001 through September 2001)
Amount Percentage
(Non-Financial Services Business) %
I Net sales 6,545,434 100.0
II Cost of sales 5,025,563 76.8
Gross profit 1,519,870 23.2
III Selling, general and administrative expenses 1,021,963 15.6
Operating income 497,906 7.6
IV Non-operating income 119,859 1.8
V Non-operating expenses 102,767 1.5
Ordinary income 514,999 7.9
Income before income taxes and minority interest in 514,999 7.9
consolidated subsidiaries
Income taxes 224,848 3.5
Minority interest in consolidated subsidiaries 6,069 0.1
Semi-Annual net income 284,081 4.3
(Financial Services Business)
I Net sales 315,581 100.0
II Cost of sales 218,888 69.4
Gross profit 96,692 30.6
III Selling, general and administrative expenses 76,818 24.3
Operating income 19,873 6.3
IV Non-operating income 4,181 1.3
V Non-operating expenses 4,573 1.4
Ordinary income 19,481 6.2
Income before income taxes and minority interest in 19,481 6.2
consolidated subsidiaries
Income taxes 7,425 2.4
Minority interest in consolidated subsidiaries 267 0.1
Semi-Annual net income 11,789 3.7
(Elimination)
Elimination of semi-annual net income (4,756) ---
(Consolidated)
Semi-Annual net income 291,114 ---
(c) Semi-Annual Consolidated Statement of Cash Flow as Classified into
Non-Financial Services Business and Financial Services Business
(in millions of Yen)
FY 2002 semi-annual
(April 2001 through September 2001)
Amount
(Non-Financial Services Business)
I Cash flows from operating activities
1. Income before income taxes and minority interest in consolidated 514,999
subsidiaries
2. Depreciation expenses 329,323
3. Losses on disposal of fixed assets 14,463
4. Increase in allowance for retirement benefits 38,652
5. Interest and dividend income (34,710)
6. Interest expenses 23,574
7. Equity in earnings of affiliates (19,694)
8. Decrease in trade notes and accounts receivable 256,909
9. Decrease in inventories 69,132
10. Decrease in trade notes and accounts payable (105,816)
11. Other (49,592)
Subtotal 1,037,241
12. Interest and dividends received 41,884
13. Interest paid (24,237)
14. Income taxes paid (277,191)
Cash flows from operating activities 777,698
II Cash flows from investing activities
1. Net decrease in time deposits 30,855
2. Payments for purchase of marketable securities and investments in securities (87,265)
3. Proceeds from sales of marketable securities and investments in securities 31,841
4. Proceeds from redemption of marketable securities and investments in 206,291
securities
5. Payments for acquisition of property, plant and equipment (excluding (433,959)
vehicles for lease)
6. Payments for acquisition of vehicles for lease (87,000)
7. Proceeds from sales of property, plant and equipment (excluding vehicles for 26,103
lease)
8. Proceeds from sales of vehicles for lease 63,769
9. Other (27,291)
Cash flows from investing activities (276,656)
III Cash flows from financing activities
1. Net decrease in short-term borrowings (38,140)
2. Proceeds from origination of long-term borrowings 50,462
3. Payments for repayment of long-term borrowings (58,317)
4. Payments for repurchase of treasury stock (129,218)
5. Dividends paid (50,905)
6. Other (18,639)
Cash flows from financing activities (244,758)
IV Effect of exchange rate changes on cash and cash equivalents (6,992)
V Net increase in cash and cash equivalents 249,290
VI Cash and cash equivalents at beginning of period 1,453,148
VII Decrease in cash and cash equivalents due to change in scope of consolidated (4,654)
subsidiaries
VIII Cash and cash equivalents at end of period 1,697,784
(in millions of Yen)
FY 2002 semi-annual
(April 2001 through September 2001)
Amount
(Financial Services Business)
I Cash flows from operating activities
1. Income before income taxes and minority interest in consolidated subsidiaries 19,481
2. Depreciation expenses 52,751
3. Equity in earnings of affiliates (1,650)
4. Increase in trade notes and accounts receivable (324,913)
5. Increase in loans receivable of consolidated financial subsidiaries (58,889)
6. Other (6,661)
Subtotal (319,882)
7. Interest and dividends received 1,234
8. Income taxes paid (4,622)
Cash flows from operating activities (323,269)
II Cash flows from investing activities
1. Net increase in time deposits (5,396)
2. Payments for purchase of marketable securities and investments in securities (115,873)
3. Proceeds from sales of marketable securities and investments in securities 50,531
4. Proceeds from redemption of marketable securities and investments in 94,086
securities
5. Payments for acquisition of property, plant and equipment (excluding vehicles (27,459)
for lease)
6. Payments for acquisition of vehicles for lease (200,774)
7. Proceeds from sales of property, plant and equipment (excluding vehicles for 5,947
lease)
8. Proceeds from sales of vehicles for lease 170,417
9. Other (8,216)
Cash flows from investing activities (36,737)
III Cash flows from financing activities
1. Net increase in short-term borrowings 125,140
2. Net decrease in commercial paper (175,091)
3. Proceeds from origination of long-term borrowings 124,416
4. Payments for repayment of long-term borrowings (104,538)
5. Proceeds from issuance of bonds 734,130
6. Payments for redemption of bonds (244,134)
7. Other 12,000
Cash flows from financing activities 471,923
IV Effect of exchange rate changes on cash and cash equivalents (3,749)
V Net increase in cash and cash equivalents 108,166
VI Cash and cash equivalents at beginning of period 54,132
VII Cash and cash equivalents at end of period 162,299
(Consolidated)
IV Effect of exchange rate changes on cash and cash equivalents (10,741)
V Net increase in cash and cash equivalents 357,457
VI Cash and cash equivalents at beginning of period 1,507,280
VII Decrease in cash and cash equivalents due to change in scope of (4,654)
consolidated subsidiaries
VIII Cash and cash equivalents at end of period 1,860,083
FY 2003 semi-annual (April 2002 through September 2002)
(in millions of Yen)
Automotive Financial All other Total Elimination and/or Consolidated
services unallocated assets
Net sales
(1) Sales to 7,279,136 341,737 265,807 7,886,681 ---- 7,886,681
external customers
(2) Intersegment 3,173 8,444 131,226 142,844 ( 142,844 ) ----
sales or transfers
Total 7,282,310 350,182 397,034 8,029,526 ( 142,844 ) 7,886,681
Operating expenses 6,548,048 347,568 394,463 7,290,080 ( 134,226 ) 7,155,853
Operating income 734,261 2,614 2,570 739,446 ( 8,618 ) 730,827
(Notes)
1. The division of segments
Segments are divided by the type of products and services provided.
2. Main products and services of each segment
Automotive -- Passenger cars, trucks, buses, etc.
Financial services -- Sales finance, etc.
All other -- Housing, information technology, etc.
3. The following table is a breakdown by segment of the assets, depreciation
expenses and capital expenditure belonging to each segment.
Unallocated corporate assets included in 'Elimination and/or unallocated
assets' is JPY3,354,735 million, and consists primarily of funds such as cash
and deposits, marketable securities and portion of investments in securities of
TMC. (in millions of Yen)
Automotive Financial All other Total Elimination Consolidated
services and/or
unallocated
assets
Assets 9,073,001 7,198,614 809,616 17,081,232 2,875,704 19,956,937
Depreciation 353,238 53,364 9,441 416,044 ---- 416,044
expenses
Capital expenditure 495,270 224,332 17,730 737,333 ---- 737,333
(Note) 4. Semi-Annual Consolidated Financial Statements as Classified
into Non-Financial Services Business and Financial Services Business
(a) Semi-Annual Consolidated Balance Sheet as Classified into
Non-Financial Services Business and Financial Services Business
(in millions of Yen)
FY 2003 semi-annual
(As of September 30, 2002)
Amount Percentage
Assets %
(Non-Financial Services Business)
I Current assets
1. Cash and deposits 947,523
2. Trade notes and accounts receivable 1,337,361
3. Marketable securities 1,440,996
4. Inventories 986,311
5. Other 1,200,850
Total current assets 5,913,043 29.6
II Fixed assets
(1) Property, plant and equipment 4,354,678 21.8
(2) Investments and other assets
1. Investments in securities 2,381,021
2. Long-term loans 374,268
3. Other 481,959
Total investments and other assets 3,237,249 16.2
Total fixed assets 7,591,927 38.0
Total assets 13,504,971 67.6
(Financial Services Business)
I Current assets
1. Cash and deposits 95,460
2. Marketable securities 6,814
3. Installment credit from dealers 3,362,829
4. Other 1,762,115
Total current assets 5,227,220 26.2
II Fixed assets
(1) Property, plant and equipment 1,052,571 5.3
(2) Intangible fixed assets 4,116 0.0
(3) Investments and other assets
1. Investments in securities 218,457
2. Long-term loans 570,747
3. Other 125,500
Total investments and other assets 914,705 4.6
Total fixed assets 1,971,393 9.9
Total assets 7,198,614 36.1
(Elimination)
Elimination of assets (746,648) (3.7)
(Consolidated)
Total assets 19,956,937 100.0
(in millions of Yen)
FY 2003 semi-annual
(As of September 30, 2002)
Amount Percentage
Liabilities %
(Non-Financial Services Business)
I Current liabilities
1. Trade notes and accounts payable 1,413,256
2. Current portion of bonds 69,899
3. Short-term borrowings 866,630
4. Accrued expenses and other accounts payable 1,294,760
5. Income taxes payable 306,821
6. Other 462,871
Total current liabilities 4,414,239 22.1
II Long-term liabilities
1. Bonds and convertible debentures 500,400
2. Long-term borrowings 236,640
3. Other 811,818
Total Long-term liabilities 1,548,859 7.8
Total liabilities 5,963,099 29.9
(Financial Services Business)
I Current liabilities
1. Current portion of bonds 939,619
2. Short-term borrowings 664,435
3. Commercial paper 1,077,307
4. Accrued expenses and other accounts payable 139,106
5. Income taxes payable 2,530
6. Other 450,598
Total current liabilities 3,273,597 16.4
II Long-term liabilities
1. Bonds 2,730,627
2. Long-term borrowings 456,094
3. Other 297,498
Total Long-term liabilities 3,484,220 17.4
Total liabilities 6,757,817 33.8
(Elimination) Elimination of liabilities (747,130) (3.7)
(Consolidated) Total liabilities 11,973,785 60.0
Minority interest
(Consolidated) Minority interest in consolidated 472,094 2.4
subsidiaries
Shareholders' equity
(Consolidated)
I Common stock 397,049 2.0
II Capital surplus 415,769 2.1
III Retained earnings 6,884,863 34.5
IV Net unrealized gains on other securities 151,609 0.7
V Translation adjustments
VI Treasury stock (83,968) (0.4)
(254,265) (1.3)
Total shareholders' equity 7,511,057 37.6
(Consolidated) Total liabilities, minority interest and 19,956,937 100.0
shareholders' equity
(Notes)
1. Assets under non-financial services include unallocated corporate assets.
2. 'Trade notes and accounts receivable', 'Inventories' and 'Trade notes and
accounts payable' under financial services business were previously presented as
separate line items. As these amounts are not material, starting from this
semi-annual period 'Trade notes and accounts receivable' and 'Inventories' are
included in 'Other' under 'Current assets', and 'Trade notes and accounts
payable' is included in 'Other' under 'Current liabilities'.
On the other hand, 'Commercial paper' under financial services business
was previously included in 'Other' under 'Current liabilities'. As this item has
increased in materiality, it is presented as a separate line item starting from
this semi-annual period.
(b) Semi-Annual Consolidated Statement of Income as Classified into
Non-Financial Services Business and Financial Services Business
(in millions of Yen)
FY 2003 semi-annual
(April 2002 through September 2002)
Amount Percentage
(Non-Financial Services Business) %
I Net sales 7,543,567 100.0
II Cost of sales 5,697,351 75.5
Gross profit 1,846,216 24.5
III Selling, general and administrative expenses 1,107,360 14.7
Operating income 738,855 9.8
IV Non-operating income 153,290 2.0
V Non-operating expenses 95,605 1.2
Ordinary income 796,540 10.6
VI Extraordinary gains
Gains on return of 186,050 186,050 2.4
substituted
portion of
employee pension
fund
Income before 982,591 13.0
income taxes and
minority interest
in consolidated
subsidiaries
Income taxes 395,175 5.2
Minority interest 32,519 0.4
in consolidated
subsidiaries
Semi-Annual net 554,895 7.4
income
(Financial Services Business)
I Net sales 350,182 100.0
II Cost of sales 232,141 66.3
Gross profit 118,040 33.7
III Selling, general and administrative expenses 115,426 33.0
Operating income 2,614 0.7
IV Non-operating income 5,522 1.6
V Non-operating expenses 4,543 1.3
Ordinary income 3,592 1.0
Income before 3,592 1.0
income taxes and
minority interest
in consolidated
subsidiaries
Income taxes 594 0.1
Minority interest 272 0.1
in consolidated
subsidiaries
Interim net income 2,725 0.8
(Elimination)
Elimination of (3,823) ----
semi-annual net
income
(Consolidated)
Semi-Annual net 553,797 ----
income
(c) Semi-Annual Consolidated Statement of Cash Flow as Classified into
Non-Financial Services Business and Financial Services Business
(in millions of Yen)
FY 2003 semi-annual
(April 2002 through September 2002)
Amount
(Non-Financial Services Business)
I Cash flows from operating activities
1. Income before income taxes and minority interest in 982,591
consolidated subsidiaries
2. Depreciation expenses 362,679
3. Losses on disposal of fixed assets 25,680
4. Decrease in allowance for retirement benefits (182,293)
5. Interest and dividend income (30,473)
6. Interest expenses 21,710
7. Equity in earnings of affiliates (46,873)
8. Decrease in trade notes and accounts receivable 247,847
9. Decrease in inventories 7,805
10. Decrease in trade notes and accounts payable (46,458)
11. Other 95,493
Subtotal 1,437,710
12. Interest and dividends received 38,029
13. Interest paid (21,398)
14. Income taxes paid (376,974)
Cash flows from operating activities 1,077,366
II Cash flows from investing activities
1. Net decrease in time deposits 663
2. Payments for purchase of marketable securities and (388,605)
investments in securities
3. Proceeds from sales of marketable securities and 77,796
investments in securities
4. Proceeds from redemption of marketable securities and 386,119
investments in securities
5. Payments for acquisition of property, plant and (509,178)
equipment (excluding vehicles for lease)
6. Payments for acquisition of vehicles for lease (57,793)
7. Proceeds from sales of property, plant and equipment 25,434
(excluding vehicles for lease)
8. Proceeds from sales of vehicles for lease 19,839
9. Other (20,566)
Cash flows from investing activities (466,291)
III Cash flows from financing activities
1. Net decrease in short-term borrowings (61,792)
2. Proceeds from origination of long-term borrowings 8,675
3. Payments for repayment of long-term borrowings (33,992)
4. Payments for repurchase of treasury stock (169,213)
5. Dividends paid (53,342)
6. Other 7,973
Cash flows from financing activities (301,690)
IV Effect of exchange rate changes on cash and cash equivalents (32,659)
V Net increase in cash and cash equivalents 276,725
VI Cash and cash equivalents at beginning of period 1,541,940
VII Cash and cash equivalents at end of period 1,818,666
(in millions of Yen)
FY 2003 semi-annual
(April 2002 through September
2002)
Amount
(Financial Services Business)
I Cash flows from operating activities
1. Income before income taxes and 3,592
minority interest in consolidated
subsidiaries
2. Depreciation expenses 53,364
3. Equity in earnings of affiliates (4,754)
4. Increase in trade notes and (400,729)
accounts receivable
5. Increase in loans receivable of (98,704)
consolidated financial
subsidiaries
6. Other (94,232)
Subtotal (541,463)
7. Interest and dividends received 1,766
8. Income taxes paid (5,666)
Cash flows from operating activities (545,364)
II Cash flows from investing activities
1. Net increase in time deposits (11,911)
2. Payments for purchase of (95,707)
marketable securities and
investments in securities
3. Proceeds from sales of marketable 29,836
securities and investments in
securities
4. Proceeds from redemption of 76,127
marketable securities and
investments in securities
5. Payments for acquisition of (24,594)
property, plant and equipment
(excluding vehicles for lease)
6. Payments for acquisition of (199,084)
vehicles for lease
7. Proceeds from sales of property, 6,171
plant and equipment (excluding
vehicles for lease)
8. Proceeds from sales of vehicles 106,758
for lease
9. Other 17,900
Cash flows from investing activities (94,502)
III Cash flows from financing activities
1. Net increase in short-term 29,242
borrowings
2. Net increase in commercial paper 210,671
3. Proceeds from origination of 47,942
long-term borrowings
4. Payments for repayment of (38,451)
long-term borrowings
5. Proceeds from issuance of bonds 691,727
6. Payments for redemption of bonds (364,453)
Cash flows from financing activities 576,679
IV Effect of exchange rate changes on cash and cash equivalents (8,277)
V Net increase in cash and cash equivalents (71,464)
VI Cash and cash equivalents at beginning of period 146,185
VII Cash and cash equivalents at end of period 74,721
(Consolidated)
I Effect of exchange rate changes on cash and cash equivalents (40,937)
II Net increase in cash and cash equivalents 205,261
III Cash and cash equivalents at beginning of period 1,688,126
IV Cash and cash equivalents at end of period 1,893,387
FY 2002 (April 2001 through March 2002) (in millions of Yen)
Automotive Financial All other Total Elimination Consolidated
services and/or
unallocated
assets
Net sales
(1) Sales to 13,858,017 676,723 571,557 15,106,297 ---- 15,106,297
external customers
(2) Intersegment 51,908 16,662 247,912 316,483 ( 316,483 ) ----
sales or transfers
Total 13,909,926 693,385 819,470 15,422,781 ( 316,483 ) 15,106,297
Operating expenses 12,831,828 624,727 820,367 14,276,922 ( 294,095 ) 13,982,827
Operating income 1,078,097 68,657 ( 896 ) 1,145,858 ( 22,387 ) 1,123,470
(loss)
(Notes)
1. The division of segments
Segments are divided by the type of products and services provided.
2. Main products and services of each segment
Automotive -- Passenger cars, trucks, buses, etc.
Financial services -- Sales finance, etc.
All other -- Housing, information technology, etc.
3. The following table is a breakdown by segment of the assets, depreciation
expenses and capital expenditure belonging to each segment.
Unallocated corporate assets included in 'Elimination and/or unallocated
assets' is JPY3,016,176 million, and consists primarily of funds such as cash
and deposits, marketable securities and portion of investments in securities of
TMC.
(in millions of Yen)
Automotive Financial All other Total Elimination Consolidated
services and/or
unallocated
assets
Assets 9,458,096 7,069,278 778,650 17,306,025 2,582,911 19,888,937
Depreciation 681,049 102,098 20,460 803,607 ---- 803,607
expenses
Capital expenditure 989,445 478,589 40,736 1,508,771 ---- 1,508,771
(Note) 4. Consolidated Financial Statements as Classified into
Non-Financial Services Business and Financial Services Business
(a) Consolidated Balance Sheet as Classified into Non-Financial Services
Business and Financial Services Business
(in millions of Yen)
FY 2002
(As of March 31, 2002))
Amount Percentage
Assets %
(Non-Financial Services Business)
I Current assets
1. Cash and deposits 549,398
2. Trade notes and accounts receivable 1,572,060
3. Marketable securities 1,601,256
4. Inventories 1,022,718
5. Other 1,111,902
Total current assets 5,857,335 29.5
II Fixed assets
(1) Property, plant and equipment 4,353,811 21.9
(2) Intangible fixed assets ---- ----
(3) Investments and other assets
1. Investments in securities 2,389,376
2. Long-term loans 399,349
3. Other 521,349
Total investments and other assets 3,310,074 16.6
Total fixed assets 7,663,886 38.5
Total assets 13,521,221 68.0
(Financial Services Business)
I Current assets
1. Cash and deposits 157,835
2. Marketable securities 4,204
3. Installment credit from dealers 3,214,276
4. Other 1,635,551
Total current assets 5,011,868 25.2
II Fixed assets
(1) Property, plant and equipment 1,083,966 5.4
(2) Intangible fixed assets 4,328 0.0
(3) Investments and other assets
1. Investments in securities 252,746
2. Long-term loans 640,907
3. Other 75,461
Total investments and other assets 969,115 4.9
Total fixed assets 2,057,410 10.3
Total assets 7,069,278 35.5
(Elimination)
Elimination of assets (701,563) (3.5)
(Consolidated)
Total assets 19,888,937 100.0
(in millions of Yen)
FY 2002
(As of March 31, 2002)
Amount Percentage
Liabilities %
(Non-Financial Services Business)
I Current liabilities
1. Trade notes and accounts payable 1,475,934
2. Current portion of bonds 154,150
3. Short-term borrowings 922,792
4. Accrued expenses and other accounts payable 1,305,518
5. Income taxes payable 333,171
6. Other 392,418
Total current liabilities 4,583,985 23.0
II Long-term liabilities
1. Bonds and convertible debentures 413,808
2. Long-term borrowings 255,928
3. Other 951,092
Total long-term liabilities 1,620,829 8.2
Total liabilities 6,204,815 31.2
(Financial Services Business)
I Current liabilities
1. Current portion of bonds 866,780
2. Short-term borrowings 605,697
3. Accrued expenses and other accounts payable 151,310
4. Income taxes payable 6,133
5. Other 1,419,176
Total current liabilities 3,049,099 15.3
II Long-term liabilities
1. Bonds 2,731,872
2. Long-term borrowings 477,716
3. Other 338,792
Total long-term liabilities 3,548,381 17.9
Total liabilities 6,597,481 33.2
(Elimination) Elimination of liabilities (702,652) (3.5)
(Consolidated) Total liabilities 12,099,644 60.9
Minority interest
(Consolidated) Minority interest in consolidated 464,220 2.3
subsidiaries
Shareholders' equity
(Consolidated)
I Common stock 397,049 2.0
II Additional paid-in capital 415,150 2.1
III Retained earnings 6,527,956 32.8
IV Net unrealized gains on other securities 152,809 0.8
V Translation adjustments 22,855 0.1
7,515,821 37.8
VI Treasury stock (157,766) (0.8)
VII Common stock of the parent held by consolidated subsidiaries (32,983) (0.2)
Total shareholders' equity 7,325,072 36.8
(Consolidated) Total liabilities, minority interest and 19,888,937 100.0
shareholders' equity
(Notes)
1. Assets under non-financial services include unallocated corporate assets.
2. 'Trade notes and accounts receivable', 'Inventories' and 'Trade notes and
accounts payable' under financial services were previously presented as separate
line items. As these amounts are not material, starting from this period 'Trade
notes and accounts receivable' and 'Inventories' are included in 'Other' under
'Current assets', and 'Trade notes and accounts payable' is included in 'Other'
under 'Current liabilities'.
(b) Consolidated Statement of Income as Classified into Non-Financial Services
Business and Financial Services Business
(in millions of Yen)
FY 2002
(April 2001 through March 2002)
Amount Percentage
(Non-Financial Services Business) %
I Net sales 14,471,837 100.0
II Cost of sales 11,113,753 76.8
Gross profit 3,358,083 23.2
III Selling, general and administrative expenses 2,273,530 15.7
Operating 1,084,553 7.5
income
IV Non-operating income 277,011 1.9
V Non-operating expenses 253,468 1.7
Ordinary income 1,108,096 7.7
Income before 1,108,096 7.7
income taxes
and minority
interest in
consolidated
subsidiaries
Income taxes 475,184 3.3
Minority 16,763 0.1
interest in
consolidated
subsidiaries
Net income 616,147 4.3
(Financial Services Business)
I Net sales 693,385 100.0
II Cost of sales 433,085 62.5
Gross profit 260,299 37.5
III Selling, general and administrative expenses 191,641 27.6
Operating 68,657 9.9
income
IV Non-operating income 6,313 0.9
V Non-operating expenses 53,539 7.7
Ordinary income 21,431 3.1
Income before 21,431 3.1
income taxes
and minority
interest in
consolidated
subsidiaries
Income taxes 13,855 2.0
Minority 810 0.1
interest in
consolidated
subsidiaries
Net income 6,765 1.0
(Elimination)
Elimination of (7,088) ----
net income
(Consolidation)
net income 615,824 ----
(c) Consolidated Statement of Cash Flow as Classified into Non-Financial
Services Business and Financial Services Business
(in millions of Yen)
FY 2002
(April 2001 through March 2002)
Amount
(Non-Financial Services Business)
I Cash flows from operating activities
1. Income before income taxes and minority interest in consolidated subsidiaries 1,108,096
2. Depreciation expenses 701,509
3. Losses on disposal of fixed assets 52,046
4. Increase in allowance for retirement benefits 130,877
5. Interest and dividend income (60,453)
6. Interest expenses 51,296
7. Equity in earnings of affiliates (38,989)
8. Decrease in trade notes and accounts receivable 43,286
9. Decrease in inventories 8,588
10. Increase in trade notes and accounts payable 49,513
11. Other (226,423)
Subtotal 1,819,347
12. Interest and dividends received 71,907
13. Interest paid (50,781)
14. Income taxes paid (497,431)
Cash flows from operating activities 1,343,042
II Cash flows from investing activities
1. Net decrease in time deposits 45,906
2. Payments for purchase of marketable securities and investments in securities (426,357)
3. Proceeds from sales of marketable securities and investments in securities 58,443
4. Proceeds from redemption of marketable securities and investments in 465,001
securities
5. Payments for acquisition of property, plant and equipment (excluding vehicles (906,683)
for lease)
6. Payments for acquisition of vehicles for lease (144,556)
7. Proceeds from sales of property, plant and equipment (excluding vehicles for 54,972
lease)
8. Proceeds from sales of vehicles for lease 111,607
9. Other (56,152)
Cash flows from investing activities (797,817)
III Cash flows from financing activities
1. Net decrease in short-term borrowings (25,909)
2. Proceeds from origination of long-term borrowings 84,018
3. Payments for repayment of long-term borrowings (116,031)
4. Payments for repurchase of treasury stock (282,849)
5. Dividends paid (98,638)
6. Other (36,463)
Cash flows from financing activities (475,873)
IV Effect of exchange rate changes on cash and cash equivalents 24,095
V Net increase in cash and cash equivalents 93,446
VI Cash and cash equivalents at beginning of period 1,453,148
VII Decrease in cash and cash equivalents due to change in scope of consolidated (4,654)
subsidiaries
VIII Cash and cash equivalents at end of period 1,541,940
(in millions of Yen)
FY 2002
(April 2001 through March 2002)
Amount
(Financial Services Business)
I Cash flows from operating activities
1. Income before income taxes and minority interest in consolidated subsidiaries 21,431
2. Depreciation expenses 102,098
3. Equity in loss of affiliates 23,942
4. Increase in trade notes and accounts receivable (612,144)
5. Increase in loans receivable of consolidated financial subsidiaries (91,321)
6. Other 4,265
Subtotal (551,727)
7. Interest and dividends received 1,350
8. Income taxes paid (19,527)
Cash flows from operating activities (569,905)
II Cash flows from investing activities
1. Net increase in time deposits (11,077)
2. Payments for purchase of marketable securities and investments in securities (241,535)
3. Proceeds from sales of marketable securities and investments in securities 100,695
4. Proceeds from redemption of marketable securities and investments in securities 139,078
5. Payments for acquisition of property, plant and equipment (excluding vehicles (54,719)
for lease)
6. Payments for acquisition of vehicles for lease (422,133)
7. Proceeds from sales of property, plant and equipment (excluding vehicles for 10,147
lease)
8. Proceeds from sales of vehicles for lease 296,814
9. Other (147,036)
Cash flows from investing activities (329,766)
III Cash flows from financing activities
1. Net increase in short-term borrowings 207,507
2. Net increase in commercial paper 85,977
3. Proceeds from origination of long-term borrowings 190,028
4. Payments for repayment of long-term borrowings (185,670)
5. Proceeds from issuance of bonds 1,493,896
6. Payments for redemption of bonds (820,294)
7. Other 12,000
Cash flows from financing activities 983,445
IV Effect of exchange rate changes on cash and cash equivalents 8,280
V Net increase in cash and cash equivalents 92,053
VI Cash and cash equivalents at beginning of period 54,132
VII Cash and cash equivalents at end of period 146,185
(Consolidated)
I Effect of exchange rate changes on cash and cash equivalents 32,375
II Net increase in cash and cash equivalents 185,499
III Cash and cash equivalents at beginning of period 1,507,280
IV Decrease in cash and cash equivalents due to change in scope of (4,654)
consolidated subsidiaries
V Cash and cash equivalents at end of period 1,688,126
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