7/29/2019 Toyota 2013Q3 Summary http://slidepdf.com/reader/full/toyota-2013q3-summary 1/19 FINANCIAL SUMMARY (All financial information has been prepared in accordance with accounting principles generally accepted in the United States of America) FY2013 Third Quarter (April 1, 2012 through December 31, 2012) English translation from the original Japanese-language document TOYOTA MOTOR CORPORATION
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FY2013 Third Quarter Consolidated Financial Results
(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 5, 2013 Company name : Toyota Motor Corporation
Stock exchanges on which the shares are listed : Tokyo, Osaka, Nagoya, Sapporo and Fukuoka Stock Exchanges in Japan
Code number : 7203
URL
Representative
: http://www.toyota.co.jp
: Akio Toyoda, President
Contact person : Tetsuya Otake, General Manager, Accounting DivisionTel. (0565)28-2121
Filing date of quarterly securities report : February 14, 2013
Payment date of cash dividends : —
Supplemental materials prepared for quarterly financial results : yes
Earnings announcement for quarterly financial results : yes
(Amounts are rounded to the nearest million yen) 1. Consolidated Results for FY2013 First Nine Months (April 1, 2012 through December 31, 2012)(1) Consolidated financial results (For the nine months ended December 31) (% of change from previous first nine months)
Net revenues Operating income
Income before income taxes
and equity in earnings ofaffiliated companies
Net income attributable to
Toyota Motor Corporation
Million yen % Million yen % Million yen % Million yen %FY2013 first nine months 16,227,106 26.0 818,507 598.9 925,786 369.5 648,183 298.8FY2012 first nine months 12,881,127 -10.2 117,111 -72.3 197,199 -62.2 162,525 -57.5
(Note) Quarterly comprehensive income: FY2013 first nine months 986,472 million yen (— %), FY2012 first nine months -126,072 million yen (— %)
Net income attributable to ToyotaMotor Corporation per share
– Basic
Net income attributable toToyota Motor Corporation per
share – Diluted
Yen YenFY2013 first nine months 204.68 204.67FY2012 first nine months 51.83 51.83
(2) Consolidated financial position
Total assets Shareholders’ equity
Toyota Motor Corporation
shareholders’ equity
Ratio of
Toyota Motor Corporationshareholders’ equityMillion yen Million yen Million yen %
Notes(1) Changes in significant subsidiaries during the current quarter
(Changes in specified subsidiaries that caused a change in the scope of consolidation): none
(2) Simplified accounting procedures and specific accounting procedures: yesNote: For more details, please see page 5 “Other Information”.
(3) Changes in accounting policies(i) Changes by a newly issued accounting pronouncement: yes(ii) Changes other than (3)-(i) above: noneNote: For more details, please see page 5 “Other Information”.
(4) Number of shares issued and outstanding (common stock)(i) Number of shares issued and outstanding at the end of each period (including treasury stock): FY2013 third quarter 3,447,997,492 shares,
FY2012 3,447,997,492 shares(ii) Number of treasury stock at the end of each period: FY2013 third quarter 281,134,297 shares,
FY2012 281,187,739 shares(iii) Average number of shares issued and outstanding in each period: FY2013 first nine months 3,166,813,036 shares,
FY2012 first nine months 3,135,688,230 shares
Information Regarding the Quarterly Review Procedures
At the time of disclosure of this report, the procedures for review of quarterly consolidated financial statements, pursuant to the “Financial Instruments andExchange Act” of Japan, have not been completed.
Cautionary Statement with Respect to Forward-Looking Statements, and Other Information
This report contains forward-looking statements that reflect Toyota’s forecasts for consolidated results. These forward-looking statements are not guaranteesof future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievementsor financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by theseforward-looking statements. These factors include, but are not limited to: (i) the impact of natural calamities including the negative effect on Toyota’s vehicleproduction and sales; (ii) 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; (iii) fluctuations in currency exchange rates, particularly with respect to the value of theJapanese yen, the U.S. dollar, the euro, the Australian dollar, the Canadian dollar and the British pound, and interest rates fluctuations; (iv) changes in fundingenvironment in financial markets and increased competition in the financial services industry; (v) Toyota’s ability to market and distribute effectively; (vi) Toyota’sability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (vii) changes in the laws,regulations and government policies in the markets in which Toyota operates that affect Toyota’s automotive operations, particularly laws, regulations andgovernment policies relating to vehicle safety including remedial measures such as recalls, trade, environmental protection, vehicle emissions and vehicle fueleconomy, as well as changes in laws, regulations and government policies that affect Toyota’s other operations, including the outcome of current and futurelitigation and other legal proceedings, government proceedings and investigations; (viii) political and economic instability in the markets in which Toyota operates;(ix) Toyota’s ability to timely develop and achieve market acceptance of new products that meet customer demand; (x) any damage to Toyota’s brand image; (xi)Toyota’s reliance on various suppliers for the provision of supplies; (xii) increases in prices of raw materials; (xiii) Toyota’s reliance on various digital andinformation technologies; and (xiv) fuel shortages or interruptions in electricity, transportation systems, labor strikes, work stoppages or other interruptions to, ordifficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products orwhere 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’sannual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.
This report contains summarized and condensed financial information prepared in accordance with accounting principles generally accepted in the UnitedStates of America.
TOYOTA MOTOR CORPORATION FY2013 Third Quarter Financial Summary
(All financial information has been prepared in accordance with accounting principles generally accepted in the United States of America)
1
TABLE OF CONTENTS
1 Qualitative Information Concerning Consolidated Financial Results for FY2013 First Nine Months . 2 (1) Financial Results ................................................................................................................................... 2 (2) Segment Operating Results................................................................................................................... 2 (3) Geographic Information ......................................................................................................................... 3
2. Qualitative Information Concerning Forecast of Consolidated Financial Results for FY2013 ........ 4 3. Other Information.................................................................................................................................... 5 (1) Changes in significant subsidiaries during the current period ............................................................... 5 (2) Simplified accounting procedures and accounting procedures specific to
quarterly consolidated financial statements ........................................................................................... 5 (3) Changes in accounting principles, procedures, and disclosures for
TOYOTA MOTOR CORPORATION FY2013 Third Quarter Financial Summary
(All financial information has been prepared in accordance with accounting principles generally accepted in the United States of America)
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1 Qualitative Information Concerning Consolidated Financial Results for FY2013 First Nine Months
(1) Financial Results
Consolidated vehicle unit sales in Japan and overseas increased by 1,634 thousand units, or32.7%, to 6,629 thousand units in FY2013 first nine months (the nine months ended December 31,2012) compared with FY2012 first nine months (the nine months ended December 31, 2011).Vehicle unit sales in Japan increased by 311 thousand units, or 22.9%, to 1,668 thousand units inFY2013 first nine months compared with FY2012 first nine months. Meanwhile, overseas vehicleunit sales also increased by 1,323 thousand units, or 36.4%, to 4,961 thousand units in FY2013 firstnine months compared with FY2012 first nine months.
As for the results of operations, net revenues increased by 3,345.9 billion yen, or 26.0%, to16,227.1 billion yen in FY2013 first nine months compared with FY2012 first nine months, andoperating income increased by 701.3 billion yen, or 598.9%, to 818.5 billion yen in FY2013 first ninemonths compared with FY2012 first nine months. Among the factors contributing to an increase inoperating income were the effects of marketing efforts of 660.0 billion yen and cost reduction efforts of
320.0 billion yen. On the other hand, factors contributing to a decrease in operating income primarilyincluded an increase in expense and others of 240.0 billion yen, the effects of changes in exchangerates of 10.0 billion yen and other factors of 28.7 billion yen. Income before income taxes and equityin earnings of affiliated companies increased by 728.5 billion yen, or 369.5%, to 925.7 billion yen inFY2013 first nine months compared with FY2012 first nine months. Net income attributable toToyota Motor Corporation increased by 485.6 billion yen, or 298.8%, to 648.1 billion yen in FY2013first nine months compared with FY2012 first nine months.
(2) Segment Operating Results
(i) Automotive:
Net revenues for the automotive operations increased by 3,302.6 billion yen, or 28.2%, to15,018.0 billion yen in FY2013 first nine months compared with FY2012 first nine months, andoperating income increased by 694.6 billion yen to 541.7 billion yen in FY2013 first nine monthscompared with FY2012 first nine months. The increase in operating income was mainly due toincreases in both production volume and vehicle unit sales and cost reduction efforts.
(ii) Financial services:Net revenues for the financial services operations increased by 19.4 billion yen, or 2.4%, to
847.7 billion yen in FY2013 first nine months compared with FY2012 first nine months. However,operating income decreased by 10.9 billion yen, or 4.3%, to 243.5 billion yen in FY2013 first ninemonths compared with FY2012 first nine months. The decrease in operating income was mainlydue to effects related to credit losses including provision and reversal in sales finance subsidiaries.
(iii) All other:Net revenues for all other businesses increased by 40.1 billion yen, or 5.6%, to 758.0 billion
yen in FY2013 first nine months compared with FY2012 first nine months, and operating incomeincreased by 14.6 billion yen, or 62.9%, to 37.8 billion yen in FY2013 first nine months comparedwith FY2012 first nine months.
TOYOTA MOTOR CORPORATION FY2013 Third Quarter Financial Summary
(All financial information has been prepared in accordance with accounting principles generally accepted in the United States of America)
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(3) Geographic Information
(i) Japan:Net revenues in Japan increased by 1,704.8 billion yen, or 22.2%, to 9,382.5 billion yen in
FY2013 first nine months compared with FY2012 first nine months, and operating incomeincreased by 572.9 billion yen to 266.4 billion yen in FY2013 first nine months compared withFY2012 first nine months. The increase in operating income was mainly due to increases in bothproduction volume and vehicle unit sales and cost reduction efforts.
(ii) North America:Net revenues in North America increased by 1,249.8 billion yen, or 37.7%, to 4,568.7 billion
yen in FY2013 first nine months compared with FY2012 first nine months, and operating incomeincreased by 13.6 billion yen, or 9.0%, to 165.4 billion yen in FY2013 first nine months comparedwith FY2012 first nine months. The increase in operating income was mainly due to increases inboth production volume and vehicle unit sales.
(iii) Europe:Net revenues in Europe increased by 31.9 billion yen, or 2.1%, to 1,517.9 billion yen inFY2013 first nine months compared with FY2012 first nine months, and operating incomeincreased by 12.7 billion yen, or 149.3%, to 21.3 billion yen in FY2013 first nine months comparedwith FY2012 first nine months. The increase in operating income was mainly due to increases inboth production volume and vehicle unit sales.
(iv) Asia:Net revenues in Asia increased by 1,043.1 billion yen, or 46.7%, to 3,274.4 billion yen in
FY2013 first nine months compared with FY2012 first nine months, and operating incomeincreased by 115.2 billion yen, or 67.4%, to 286.3 billion yen in FY2013 first nine months comparedwith FY2012 first nine months. The increase in operating income was mainly due to increases inboth production volume and vehicle unit sales.
(v) Other (Central and South America, Oceania and Africa):Net revenues in other regions increased by 230.4 billion yen, or 17.9%, to 1,514.6 billion yen
in FY2013 first nine months compared with FY2012 first nine months. However, operating incomedecreased by 4.9 billion yen, or 5.1%, to 91.0 billion yen in FY2013 first nine months comparedwith FY2012 first nine months.
TOYOTA MOTOR CORPORATION FY2013 Third Quarter Financial Summary
(All financial information has been prepared in accordance with accounting principles generally accepted in the United States of America)
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2. Qualitative Information Concerning Forecast of Consolidated Financial Results for FY2013
Reflecting the current trend of foreign currency exchange rates and the upward revision of oursales plans based on our recent business performance, the current forecast of consolidated financialresults for FY2013 (April 1, 2012 through March 31, 2013) is set forth below. This forecast assumesaverage exchange rates through the fiscal year of 81 yen per US$1 and 104 yen per 1 euro.
Forecast of consolidated results for FY2013
Net revenues 21,800.0 billion yen (an increase of 17.3% compared with FY2012)Operating income 1,150.0 billion yen (an increase of 223.4% compared with FY2012)Income before income taxes
and equity in earnings ofaffiliated companies
1,290.0 billion yen (an increase of 198.0% compared with FY2012)
Net income attributable to
Toyota Motor Corporation 860.0 billion yen (an increase of 203.3% compared with FY2012)
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 andunknown 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. Thesefactors include, but are not limited to: (i) the impact of natural calamities including the negative effecton Toyota’s vehicle production and sales; (ii) changes in economic conditions and market demandaffecting, and the competitive environment in, the automotive markets in Japan, North America,Europe, Asia and other markets in which Toyota operates; (iii) 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 Canadian dollar and the British pound, and interest rates fluctuations; (iv) changes infunding environment in financial markets and increased competition in the financial services industry;(v) Toyota’s ability to market and distribute effectively; (vi) Toyota’s ability to realize productionefficiencies and to implement capital expenditures at the levels and times planned by management;(vii) changes in the laws, regulations and government policies in the markets in which Toyota operatesthat affect Toyota’s automotive operations, particularly laws, regulations and government policiesrelating 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 governmentpolicies that affect Toyota’s other operations, including the outcome of current and future litigation andother legal proceedings, government proceedings and investigations; (viii) political and economicinstability in the markets in which Toyota operates; (ix) Toyota’s ability to timely develop and achievemarket acceptance of new products that meet customer demand; (x) any damage to Toyota’s brandimage; (xi) Toyota’s reliance on various suppliers for the provision of supplies; (xii) increases in pricesof raw materials; (xiii) Toyota’s reliance on various digital and information technologies; and (xiv) fuelshortages or interruptions in electricity, transportation systems, labor strikes, work stoppages or otherinterruptions to, or difficulties in, the employment of labor in the major markets where Toyotapurchases materials, components and supplies for the production of its products or where its productsare 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 filewith the United States Securities and Exchange Commission.
TOYOTA MOTOR CORPORATION FY2013 Third Quarter Financial Summary
(All financial information has been prepared in accordance with accounting principles generally accepted in the United States of America)
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3. Other Information
(1) Changes in significant subsidiaries during the current period(Changes in specified subsidiaries that caused a change in the scope of consolidation)
None
(2) Simplified accounting procedures and accounting procedures specific to quarterly consolidatedfinancial statements
Provision for income taxes
The provision for income taxes is computed by multiplying income before income taxes andequity in earnings of affiliated companies by estimated annual effective tax rates. These estimatedeffective tax rates reflect anticipated investment tax credits, foreign tax credits and other itemsincluding changes in valuation allowances, that are expected to affect estimated effective tax rates.
(3) Changes in accounting principles, procedures, and disclosures for quarterly consolidated financialstatements
In June 2011, the Financial Accounting Standards Board (“FASB”) issued updated guidanceon the presentation of comprehensive income. This guidance requires to present the total ofcomprehensive income, the components of net income, and the components of other comprehensiveincome either in a single continuous statement of comprehensive income or in two separate butconsecutive statements. Toyota and its consolidated subsidiaries (“Toyota”) adopted this guidancefrom the interim period within the fiscal year, begun after December 15, 2011. The adoption of thisguidance did not have a material impact on Toyota’s quarterly consolidated financial statements.