02 15-14 toyota motors-results_q3_2013-2

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Information about 02 15-14 toyota motors-results_q3_2013-2
Automotive

Published on February 15, 2014

Author: thjonz

Source: slideshare.net

FY2014 Third Quarter Financial Results 1 HARRIER Toyota Motor Corporation February 4, 2014

Cautionary Statement with Respect to Forward-Looking Statements 2 This presentation contains forward-looking statements that reflect Toyota’s plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include, but are not limited to: (i) changes in economic conditions and market demand affecting, and the competitive environment in, the automotive markets in Japan, North America, Europe, Asia and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro, the Australian dollar, the Russian ruble, the Canadian dollar and the British pound, and interest rates fluctuations; (iii) changes in funding environment in financial markets and increased competition in the financial services industry; (iv) Toyota’s ability to market and distribute effectively; (v) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (vi) changes in the laws, regulations and government policies in the markets in which Toyota operates that affect Toyota’s automotive operations, particularly laws, regulations and government policies relating to vehicle safety including remedial measures such as recalls, trade, environmental protection, vehicle emissions and vehicle fuel economy, as well as changes in laws, regulations and government policies that affect Toyota’s other operations, including the outcome of current and future litigation and other legal proceedings, government proceedings and investigations; (vii) political and economic instability in the markets in which Toyota operates; (viii) Toyota’s ability to timely develop and achieve market acceptance of new products that meet customer demand; (ix) any damage to Toyota’s brand image; (x) Toyota’s reliance on various suppliers for the provision of supplies; (xi) increases in prices of raw materials; (xii) Toyota’s reliance on various digital and information technologies; (xiii) fuel shortages or interruptions in electricity, 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; and (xiv) the impact of natural calamities including the negative effect on Toyota’s vehicle production and sales.

Caution concerning Insider Trading 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. Under Japanese securities laws and regulations (the "Regulations"), subject to certain exceptions, any person who receives certain material information relating to the business, etc. of Toyota which may be contained in this document is prohibited from trading in Toyota's shares or certain other transactions related to such shares (as set forth in the Regulations) until such material information is deemed to be made public. Under the Regulations, material information is deemed to be made public when (i) such material information is notified to a stock exchange and is disclosed by ways of electromagnetic means as prescribed by the ordinance of the Cabinet Office (posting on the TDnet (Timely Disclosure Network) information service ) or (ii) twelve (12) hours have elapsed since a listed company, such as Toyota, disclosed such material information to at least two (2) media sources as prescribed by the Regulations. 3

FY2014 Third Quarter Financial Results

Consolidated Vehicle Sales FY2014 FY2014 9 months 9 months FY2014 FY2014 3Q 3Q (thousands of vehicles) (thousands of vehicles) 8,000 3,000 2,317 2,113 2,000 6,629 (+204) 6,000 540 (+64) 1,668 6,785 (+156) 1,642 (-26) Europe 664 (+60) 223 428 422 (-6) 414 468 '12/10-12 '13/10-12 Change 〔2,345〕 〔2,568〕 〔+223〕 0 1,962 (+97) 630 (+27) 1,267 1,201 (-66) 1,226 (+54) 2,000 1,865 603 4,000 (+32) 191 Japan N. America 476 604 1,000 5 1,350 (+124) '12/4-12 '13/4-12 Change 〔7,550〕 〔+288〕 0 Figures in “〔 〕“ show total retail vehicle sales in thousands 〔7,262〕 Asia Other Central and South America, Oceania, Africa, The Middle East, etc.

Consolidated Financial Summary (FY2014 Third Quarter) 6 (billions of yen) FY2014 3Q FY2013 3Q ('13/10-12) ('12/10-12) Change Net Revenues 6,585.0 5,318.7 1,266.2 23.8% Operating Income 600.5 124.7 475.7 381.3% Income before income taxes and equity in earnings of affiliated companies 678.9 131.2 547.7 417.3% Net Income* 525.4 99.9 425.5 425.9% $ 100 yen 81 yen +19 yen € 137 yen 105 yen +32 yen FOREX Rates * Net Income attributable to Toyota Motor Corporation

Analysis of Consolidated Net Income* (FY2014 Third Quarter) (billions of yen) 7 * Net Income attributable to Toyota Motor Corporation Net Income* (+425.5) Operating Income (+475.7) Excluding Valuation Gains/Losses from Interest Rate Swaps (+489.6) Effects of FOREX Rates +260.0 Marketing Efforts +100.0 Cost Reduction Efforts +70.0 Decrease in Expenses, etc. +10.0 Other +35.7 525.4 Nonoperating Income +71.9 Equity in Earnings of Affiliated Companies +31.0 Income Tax, etc. -153.2 99.9 ’12/10-12 Details of Decrease in Expenses, etc. Depreciation and Labor Costs ………………. -25.0 CAPEX-related Costs ……...+10.0 R&D Expenses ………...… -30.0 Other ……………………….+55.0 ’13/10-12 Details of Other Valuation Gains/Losses from Interest Rate Swaps … -13.9 Translational FOREX Impact concerning overseas subsidiaries etc. .….…..……………..………+49.6

Consolidated Financial Summary (FY2014 9 months) 8 (billions of yen) FY2014 9 months FY2013 9 months ('13/4-12) ('12/4-12) Change Net Revenues 19,122.5 16,227.1 2,895.4 17.8% Operating Income 1,855.9 818.5 1,037.4 126.8% Income before income taxes and equity in earnings of affiliated companies 2,022.4 925.7 1,096.6 118.5% Net Income* 1,526.0 648.1 877.9 135.4% $ 99 yen 80 yen +19 yen € 132 yen 102 yen +30 yen FOREX Rates * Net Income attributable to Toyota Motor Corporation

Analysis of Consolidated Net Income* (FY2014 9 months) (billions of yen) 9 * Net Income attributable to Toyota Motor Corporation Net Income* (+877.9) Operating Income (+1,037.4) Excluding Valuation Gains/Losses from Interest Rate Swaps (+1,107.3) Effects of FOREX Rates +800.0 648.1 1,526.0 Cost Reduction Efforts +210.0 Marketing Efforts +140.0 Increase in Expenses, etc. -180.0 Other Nonoperating +67.4 Income +59.2 Equity in Earnings of Affiliated Companies +66.0 Income Tax, etc. -284.8 ’13/4-12 ’12/4-12 Details of Increase in Expenses, etc. R&D Expenses ………........ -100.0 Depreciation and Labor Costs ………………… -65.0 CAPEX-related Costs ……...+20.0 Other …………………………. -35.0 Details of Other Valuation Gains/Losses from Interest Rate Swaps … -69.9 Translational FOREX Impact concerning overseas subsidiaries etc. ..….…..……………..……..+137.3

Geographic Operating Income (FY2014 Third Quarter) 10 (billions of yen) * N. America excludes Valuation Gains/Losses from Interest Rate Swaps North America '12/10-12 '13/10-12 Change Operating Income Excluding Valuation Gains/Losses from Interest Rate Swaps -20.4 122.8 143.2 Valuation Gains/Losses from Interest Rate Swaps 3.2 -10.3 -13.6 -17.2 112.5 129.6 Operating Income 331.3 122.8 * 110.0 91.7 +315.7 (billions of yen) +143.2 +8.4 15.6 FY13 3Q 9.2 FY14 3Q Japan FY13 3Q -20.4* FY14 3Q N. America FY13 3Q +18.2 -0.1 17.7 FY14 3Q Europe 32.3 FY13 3Q FY14 3Q Asia 32.2 FY13 3Q FY14 3Q Central and South America, Oceania and Africa

Geographic Operating Income (FY2014 9 months) 11 (billions of yen) * N. America excludes Valuation Gains/Losses from Interest Rate Swaps North America '12/4-12 '13/4-12 Change Operating Income Excluding Valuation Gains/Losses from Interest Rate Swaps +894.9 (billions of yen) +21.8 134.1* FY14 Japan 31.3 -33.6 -64.9 165.4 274.8 109.3 FY13 9months 286.3 21.3 FY14 9months N. America FY13 +17.3 +19.4 308.4 * 266.4 FY13 174.3 Operating Income +174.3 9months 9months 308.4 Valuation Gains/Losses from Interest Rate Swaps 1161.4 134.1 305.7 43.1 FY14 9months 9months Europe 91.0 FY13 FY14 FY13 108.3 FY14 9months 9months 9months 9months Asia Central and South America, Oceania and Africa

Financial Services Operating Income FY2014 FY2014 3Q 3Q (billions of yen) Excluding Valuation Gains/Losses from Interest Rate Swaps FY2014 FY2014 9 months 9 months (billions of yen) 200 300 242.7 215.8 200 100 80.2 67.9 100 +12.2 +26.9 0 0 '12/10-12 '13/10-12 '12/10-12 Operating Income Excluding Valuation Gains/Losses from Interest Rate Swaps Valuation Gains/Losses from Interest Rate Swaps Operating Income '13/10-12 '12/4-12 '13/4-12 (billions of yen) '12/4-12 Change 67.9 80.2 12.2 1.0 -12.8 -13.9 Operating Income Excluding Valuation Gains/Losses from Interest Rate Swaps Valuation Gains/Losses from Interest Rate Swaps 69.0 67.3 -1.7 Operating Income (billions of yen) '13/4-12 Change 215.8 242.7 26.9 27.7 -42.1 -69.9 243.5 200.6 -42.9 Earnings improved due to an increased lending balance and translational impact of the weaker Yen for both the third quarter and the nine month period. 12

Equity in Earnings of Affiliated Companies FY2014 FY2014 9 months 9 months FY2014 FY2014 3Q 3Q (billions of yen) (billions of yen) 100.0 89.2 200 58.1 248.0 250 182.0 150 50.0 100 +31.0 +66.0 50 0 0.0 '12/10-12 '13/10-12 '12/4-12 '13/4-12 Equity in earnings increased due to improved earnings of affiliated companies in Japan and China for both the third quarter and the nine month period. 13

FY2014 Financial Forecasts

FY2014 Forecasts: Consolidated Vehicle Sales (thousands of vehicles) 10,000 8,000 9,100 2,230 9,100 2,280 (±0) (+50) 8,871 2,279 6,000 2,630 2,600 840 830 (-10) 1,640 1,640 (±0) 1,760 1,750 (-10) '13/4-'14/3 '13/4-'14/3 Previous Forecasts New Forecasts 2,000 0 Change Japan N. America (-30) 2,469 4,000 15 Europe Asia 799 1,684 1,640 '12/4-'13/3 FY2013 Results Other Central and South America, Oceania, Africa, The Middle East, etc.

FY2014 Forecasts: Consolidated Financial Summary 16 (billions of yen) New Forecasts Previous Forecasts ('13/4-'14/3) ('13/4-'14/3) Change FY2013 Results ('12/4-'13/3) Net Revenues 25,500.0 25,000.0 500.0 22,064.1 Operating Income 2,400.0 2,200.0 200.0 1,320.8 Income before income taxes and equity in earnings of affiliated companies 2,530.0 2,290.0 240.0 1,403.6 Net Income *1 1,900.0 1,670.0 230.0 962.1 100 yen*2 97 yen +3 yen 83 yen 134 yen*2 130 yen +4 yen 107 yen FOREX Rates $ € *1 Net Income attributable to Toyota Motor Corporation *2 FOREX Rate assumptions: 100 yen against the U.S. dollar and 140 yen against the Euro from January 2014 to March 2014

Analysis of FY2014 Forecasts: Consolidated Operating Income (vs. Previous Forecasts) (billions of yen) Operating Income FY2014 Previous Forecast('13/4-'14/3) 2,200.0 Effects of FOREX Rates +140.0 Cost Reduction Efforts +40.0 Positive/Negative Marketing Efforts Factors Financial Services +20.0 ±0 Increase in Expenses, etc. ±0 FX Effects at Overseas Subsidiaries (translational) +30.0 Total FY2014 New Forecast('13/4-'14/3) +200.0 2,400.0 17

FY2014 Consolidated Forecasts: CAPEX, Depreciation, R&D 18 (billions of yen) New Forecasts Previous Forecasts ('13/4-'14/3) Capital Expenditures Depreciation Expenses R&D Expenses ('13/4-'14/3) FY2013 Results Change ('12/4-'13/3) 950.0 940.0 10.0 852.7 780.0 770.0 10.0 727.3 900.0 900.0 ±0 807.4

FY2014 Third Quarter Financial Results 19 YARIS (CHINA) Toyota Motor Corporation February 4, 2014 VIOS (CHINA)

(Reference) Unconsolidated Financial Summary (Japan GAAP, FY2014 Third Quarter) 20 (billions of yen) FY2014 3Q FY2013 3Q ('13/10-12) ('12/10-12) Change Net Revenues 2,779.4 2,242.8 536.6 23.9% Operating Income 274.4 -46.2 320.7 - Ordinary Income 500.0 212.6 287.4 135.2% Net Income 437.8 200.8 237.0 118.0%

(Reference) Unconsolidated Financial Summary (Japan GAAP, FY2014 9 months) 21 (billions of yen) FY2014 9 months FY2013 9 months ('13/4-12) ('12/4-12) Change Net Revenues 8,189.0 7,122.0 1,067.0 Operating Income 921.3 21.5 899.8 - Ordinary Income 1,611.3 618.2 993.0 160.6% Net Income 1,293.4 517.6 775.7 149.9% 15.0%

(Reference) Unconsolidated Financial Summary (Japan GAAP, FY2014 Forecasts) 22 (billions of yen) New Forecasts Previous Forecasts ('13/4-'14/3) ('13/4-'14/3) Change Net Revenues 11,000.0 10,300.0 700.0 Operating Income 1,220.0 1,040.0 180.0 Ordinary Income 1,880.0 1,670.0 210.0 Net Income 1,500.0 1,310.0 190.0

(Reference) FY2014 Forecasts: Vehicle Production and Sales 23 (thousands of vehicles) New Forecasts ('13/4-'14/3) T o y o t a 3,400 3,350 50 Overseas 5,650 5,700 -50 Total 9,050 9,050 0 Japan* & L e x u s ('13/4-'14/3) Japan Vehicle Production Previous Forecasts Vehicle Sales 1 1,600 * 1 1,550 * 1 Change 50 Overseas 7,500 7,550 -50 Total 9,100 9,100 0 1,850 1,850 0 10,100 10,100 0 Exports Total Retail Sales* 2 *1 Shows retail vehicle sales *2 Including Daihatsu- and Hino-brand

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