10th May 2006 18:17
Toyota Motor Corporation10 May 2006 Supplementary Material for Financial Results for the 12 months ended March 31,2006 (Consolidated) FY2005 in accordance with U.S. GAAP FY2006 FY2007 (Note 1) (Note 1) FY2005 (Note 1) (Note 1) FY2006 Prospects 1st 3Q 4Q 2nd 12 mos. 1st 3Q 4Q 2nd 12 mos. ending Half Half ended Half Half ended March 31, March 31, March 31, 2007 2005 2006Vehicle Production 3,469 1,805 1,957 3,762 7,231 3,701 1,914 2,096 4,010 7,711 (thousands of units)(Japan) 2,177 1,115 1,242 2,357 4,534 2,191 1,177 1,316 2,493 4,684 including Daihatsu &Hino (Overseas) 1,292 690 715 1,405 2,697 1,510 737 780 1,517 3,027 including Daihatsu &Hino North America 575 271 310 581 1,156 609 285 307 592 1,201 Europe 283 156 157 313 596 299 147 177 324 623 Asia 281 190 176 366 647 416 217 203 420 836 Latin America 42 18 22 40 82 63 30 29 59 122 Oceania 57 25 24 49 106 58 27 28 55 113 Africa 54 30 26 56 110 65 31 36 67 132 FY2005 in accordance with U.S. GAAP FY2006 FY2007 (Note 1) (Note 1) FY2005 (Note 1) (Note 1) FY2006 Prospects 1st 3Q 4Q 2nd 12 mos. 1st 3Q 4Q 2nd 12 mos. ending Half Half ended Half Half ended March 31, March 31, March 31, 2007 2005 2006Vehicle 3,567 1,839 2,002 3,841 7,408 3,833 1,980 2,161 4,141 7,974 8,450Sales(thousandsof units)(Japan) 1,106 573 702 1,275 2,381 1,086 571 707 1,278 2,364 2,390includingDaihatsu &Hino (Overseas) 2,461 1,266 1,300 2,566 5,027 2,747 1,409 1,454 2,863 5,610 6,060includingDaihatsu &Hino North 1,126 576 569 1,145 2,271 1,245 643 668 1,311 2,556 2,800 America Europe 476 249 254 503 979 498 246 279 525 1,023 1,160 Asia 386 195 252 447 833 448 217 215 432 880 850 Latin 91 47 47 94 185 124 59 50 109 233 270 America Oceania 125 56 58 114 239 129 59 63 122 251 270 Africa 108 64 52 116 224 126 63 64 127 253 280 the 149 79 68 147 296 177 122 115 237 414 430 Middle East and Others FY2005 in accordance with U.S. GAAP FY2006 FY2007 (Note 1) (Note 1) FY2005 (Note 1) (Note 1) FY2006 Prospects 1st Half 3Q 4Q 2nd 12 mos. 1st 3Q 4Q 2nd 12 mos. ending Half ended Half Half ended March 31, March 31, March 31, 2007 2005 2006Total Retail Unit Sales 3,730 1,885 2,022 3,907 7,637 4,094 2,007 2,151 4,158 8,252(thousands of units)Housing Sales (units) 2,194 1,443 1,646 3,089 5,283 2,274 1,307 1,944 3,251 5,525Foreign Exchange Rate as premise: Yen to US Dollar 110 106 105 105 108 110 117 117 117 113 110 Rate Yen to Euro Rate 133 137 137 137 135 136 139 141 140 138 135Registered Toyota 814 430 511 941 1,755 804 397 533 930 1,734 approximately Vehicles (in Japan) 1,750(thousands of units)Market Share (Japan) Approximately Toyota 44.6 46.4 43.0 44.5 44.5 42.8 46.2 45.4 45.7 44.3 44% (excluding Mini-cars) (%) Toyota, Daihatsu 41.0 42.5 41.1 39.8 42.5 40.9 and Hino (including Mini-cars) (%)Number of Employees 269,310 265,753 278,622 285,977(Note 2) FY2005 in accordance with U.S. GAAP FY2006 FY2007 (Note 1) (Note 1) FY2005 (Note 1) (Note 1) FY2006 Prospects 1st Half 3Q 4Q 2nd Half 12 mos. 1st 3Q 4Q 2nd Half 12 mos. ending ended Half ended March 31, March 31, March 31, 2007 2005 2006 Net Sales 9,025.6 4,644.0 4,881.9 9,525.9 18,551.5 9,953.1 5,333.3 5,750.5 11,083.8 21,036.9 22,300.0(billions of yen) Geographical Segment Japan 5,780.6 3,018.3 3,205.2 6,223.5 12,004.1 6,032.9 3,375.8 3,702.8 7,078.6 13,111.5 North America 3,189.7 1,595.7 1,588.0 3,183.7 6,373.4 3,627.3 2,027.0 2,033.6 4,060.6 7,687.9 Europe 1,201.3 631.8 646.3 1,278.1 2,479.4 1,300.8 666.6 760.0 1,426.6 2,727.4 Asia 749.8 397.7 477.9 875.6 1,625.4 997.0 501.0 544.8 1,045.8 2,042.8 Others 582.5 298.2 303.0 601.2 1,183.7 760.1 416.4 425.2 841.6 1,601.7 Elimination -2,478.3 -1,297.7 -1,338.5 -2,636.2 -5,114.5 -2,765.0 -1,653.5 -1,715.9 -3,369.4 -6,134.4 Business Segment Automotive 8,339.6 4,278.4 4,495.5 8,773.9 17,113.5 9,144.5 4,900.0 5,293.6 10,193.6 19,338.1 Financial 384.4 196.1 200.7 396.8 781.2 462.0 262.0 272.9 534.9 996.9 Services All Other 466.8 243.3 320.2 563.5 1,030.3 535.9 289.9 364.5 654.4 1,190.3 Elimination -165.2 -73.8 -134.5 -208.3 -373.5 -189.3 -118.6 -180.5 -299.1 -488.4 FY2005 in accordance with U.S. GAAP FY2006 FY2007 (Note (Note FY2005 (Note 1) (Note 1) FY2006 Prospects 1) 1) 1st 3Q 4Q 2nd 12 mos. 1st Half 3Q 4Q 2nd Half 12 mos. ending Half Half ended March 31, March ended 2007 31, March 31, 2005 2006Operating Income 866.2 422.9 383.0 805.9 1672.1 809.4 482.2 586.7 1,068.9 1,878.3 1,900.0(billions of yen) (9.6) (9.1) (7.8) (8.5) (9.0) (8.1) (9.0) (10.2) (9.6) (8.9) (8.5)(Operating Income Ratio)(%) Geographical Segment Japan 490.6 237.3 259.3 496.6 987.2 385.9 281.1 408.9 690.0 1,075.9 North America 244.7 127.8 75.0 202.8 447.5 268.5 127.8 99.3 227.1 495.6 Europe 66.3 26.5 15.7 42.2 108.5 40.1 26.6 27.2 53.8 93.9 Asia 43.5 25.1 25.2 50.3 93.8 75.4 38.6 31.5 70.1 145.5 Others 27.4 8.4 11.6 20.0 47.4 36.2 14.7 16.3 31.0 67.2 Elimination -6.3 -2.2 -3.8 -6.0 -12.3 3.3 -6.6 3.5 -3.1 0.2 Business Segment Automotive 756.8 355.5 340.2 695.7 1,452.5 721.3 427.3 545.4 972.7 1,694.0 Financial Services 102.7 58.7 39.4 98.1 200.8 83.5 46.8 25.5 72.3 155.8 All Other 12.7 11.0 10.0 21.0 33.7 9.8 11.5 18.4 29.9 39.7 Elimination -6.0 -2.3 -6.6 -8.9 -14.9 -5.2 -3.4 -2.6 -6.0 -11.2Income before taxes 913.2 447.1 394.3 841.4 1,754.6 855.9 639.9 591.5 1,231.4 2,087.3 1,970.0(billions of yen) (10.1) (9.6) (8.1) (8.8) (9.5) (8.6) (12.0) (10.3) (11.1) (9.9) (8.8)(Income before taxes Ratio) (%)Equity in Earnings of Affiliated 58.8 39.3 41.3 80.6 139.4 70.7 45.8 47.8 93.6 164.3Companies(billions of yen)Net Income (billions of 584.0 296.5 290.7 587.2 1,171.2 570.5 397.5 404.1 801.6 1,372.1 1,310.0yen) (6.5) (6.4) (6.0) (6.2) (6.3) (5.7) (7.5) (7.0) (7.2) (6.5) (5.9)(Net Income Ratio) (%) FY2005 in accordance with U.S. GAAP FY2006 FY2007 (Note 1) (Note 1) FY2005 (Note 1) (Note 1) FY2006 Prospects 1st Half 3Q 4Q 2nd Half 12 mos. 1st 3Q 4Q 2nd 12 mos. ending ended Half Half ended March 31, March 31, March 31, 2007 2005 2006Research & 351.4 181.3 222.4 403.7 755.1 373.1 211.4 228.1 439.5 812.6 920.0Development(billions of yen)Depreciation 392.1 184.1 199.6 383.7 775.8 400.9 236.2 254.3 490.5 891.4 930.0(billions of yen)(Note 3) Geographical Segment Japan 241.9 114.4 132.1 246.5 488.4 248.1 150.9 169.9 320.8 568.9 590.0 North America 88.5 37.7 26.8 64.5 153.0 77.7 46.2 41.2 87.4 165.1 165.0 Europe 35.1 16.4 19.8 36.2 71.3 37.9 18.5 19.5 38.0 75.9 80.0 Asia 15.2 9.2 13.8 23.0 38.2 21.9 11.9 14.2 26.1 48.0 55.0 Others 11.4 6.4 7.1 13.5 24.9 15.3 8.7 9.5 18.2 33.5 40.0Capital Expenditures 500.6 207.4 379.2 586.6 1,087.2 695.8 365.0 468.0 833.0 1528.8 1,550.0(billions of yen) (Note 3) Geographical Segment Japan 281.7 128.6 264.7 393.3 675.0 443.3 208.5 257.5 466.0 909.3 850.0 North America 90.6 30.7 32.4 63.1 153.7 110.1 67.9 92.3 160.2 270.3 330.0 Europe 31.6 15.8 25.3 41.1 72.7 62.5 31.4 36.6 68.0 130.5 130.0 Asia 78.2 18.9 37.8 56.7 134.9 58.3 34.5 39.1 73.6 131.9 135.0 Others 18.5 13.4 19.0 32.4 50.9 21.6 22.7 42.5 65.2 86.8 105.0Total Liquid Assets 3415.9 3521.7 3,697.7 3,830.8(billions of yen)(Note 4)Free Cash Flow -70.3 152.1 324.7 349.0(billions of yen)(Note 5)Total Assets 23,310.1 23,119.1 24,335.0 26,257.5 27,545.1 28,731.5(billions of yen)Shareholders' Equity 8,542.0 8,718.7 9,045.0 9,692.7 10,194.4 10,560.4(billions of yen)Return on Equity (%) 14.0 13.7 13.6 12.2 16.0 14.0Return on Asset (%) 5.2 5.1 5.1 4.5 5.9 5.2 Number of Consolidated 540 524 529 523 SubsidiariesNumber of Affiliates 56 56 57 56 Accounted forUnder the EquityMethod Contributing Factors to Operating Income Year-on-year ComparisonFY2006 3Q (billions of yen, approximately) Consolidated Unconsolidated Marketing Efforts 240.0 40.0Cost Reduction Efforts 130.0 60.0 From Engineering 65.0 40.0 From Manufacturing and Logistics 65.0 20.0Effects of Changes in Exchange Rates 300.0 250.0Increases in Expenses -307.3 -157.1Special Factor -156.5 -46.3 Decrease in DAIKO HENJO -47.2 - Valuation Losses from Interest Rate Swaps -45.8 - (TFC/TMCC) Prior-year Adjustment (TMCC) -17.2 - Changes in the Accounting of Depreciation -46.3 -46.3 Cautionary Statement with Respect to Forward-Looking Statements This report contains forward-looking statements that reflect Toyota's plans andexpectations. These forward-looking statements are not guarantees of futureperformance and involve known and unknown risks, uncertainties and other factorsthat may cause Toyota's actual results, performance, achievements or financialposition to be materially different from any future results, performance,achievements or financial position expressed or implied by these forward-lookingstatements. These factors include: (i) changes in economic conditionsaffecting, 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 valueof the Japanese yen, the U.S. dollar, the euro, the Australian dollar and theBritish pound; (iii) Toyota's ability to realize production efficiencies and toimplement capital expenditures at the levels and times planned by management;(iv) changes in the laws, regulations and government policies affecting Toyota'sautomotive operations, particularly laws, regulations and policies relating toenvironmental protection, vehicle emissions, vehicle fuel economy and vehiclesafety, as well as changes in laws, regulations and government policiesaffecting Toyota's other operations, including the outcome of future litigationand other legal proceedings; (v) political instability in the markets in whichToyota operates; (vi) Toyota's ability to timely develop and achieve marketacceptance of new products; and (vii) fuel shortages or interruptions intransportation systems, labor strikes, work stoppages or other interruptions to,or difficulties in, the employment of labor in the major markets where Toyotapurchases materials, components and supplies for the production of its productsor where its products are produced, distributed or sold. A discussion of these and other factors which may affect Toyota's actualresults, performance, achievements or financial position is contained inToyota's annual report on Form 20-F, which is on file with the United StatesSecurities and Exchange Commission. Supplementary Material for Financial Results for the 12 months ended March 31,2006 (Unconsolidated) FY2003 FY2004 FY2005 6 mos. ended 12 mos. ended 6 mos. ended 12 mos. ended 6 mos. ended 12 mos. ended Sep. 30, 2002 March 31, 2003 Sep. 30, 2003 March 31, 2004 Sep. 30, 2004 March 31, 2005Vehicle Production 1,676 3,513 1,682 3,558 1,802 3,749 (thousands of units)Vehicle Sales 1,691 3,559 1,720 3,625 1,805 3,787 (thousands of units) Japan 800 1,724 830 1,765 838 1,805 Exports 891 1,835 890 1,860 967 1,982 North America 414 841 398 811 412 864 Europe 182 392 198 419 197 420 Asia 80 165 71 151 82 151 Latin America 34 71 28 61 38 78 Oceania 71 137 78 158 89 164 Others 110 229 117 260 149 305Net Sales (billions of yen) 4,204.7 8,739.3 4,302.1 8,963.7 4,459.7 9,218.3 Japan 1,607.3 3,438.4 1,667.5 3,593.1 1,723.0 3,654.9 Exports 2,597.4 5,300.8 2,634.5 5,370.5 2,736.7 5,563.4Operating Income 471.3 861.3 459.1 833.7 392.3 701.3 (billions of yen) (Operating Income Ratio) (%) (11.2) (9.9) (10.7) (9.3) (8.8) (7.6)Ordinary Income (billions of 481.7 892.6 510.5 915.7 442.3 856.2yen) (Ordinary Income Ratio) (%) (11.5) (10.2) (11.9) (10.2) (9.9) (9.3)Net Income (billions of yen) 382.2 634.0 338.0 581.4 263.7 529.3 (Net Income Ratio) (%) (9.1) (7.3) (7.9) (6.5) (5.9) (5.7)Shareholders Return Dividend Payout 56.8 125.8 67.9 151.2 82.0 212.7 (billions of yen) Dividend Per Share (yen) 16 36 20 45 25 65 Payout Ratio (%) 14.9 19.8 20.1 26.0 31.1 40.5 Value of shares canceled 143.0 143.0 - - - - (billions of yen) Shareholder Return (%) 52.3 42.4 20.1 26.0 31.1 40.5 (Note 6) Value of shares repurchased 163.3 453.4 161.7 398.8 208.4 266.2 (billions of yen)Number of Outstanding Shares 3,609,997 3,609,997 3,609,997 3,609,997 3,609,997 3,609,997(thousands)Number of Employees (Note 2) 66,874 65,551 66,099 65,346 64,408 64,237 FY2006 FY2007 6 mos. ended Sep. 30, 12 mos. ended March 31, prospects for 12 mos. prospects for 12 mos. 2005 2006 ending Sep. 30, 2006 ending March 31, 2007Vehicle Production 1,798 3,863 2,000 4,100(thousands of units)Vehicle Sales 1,808 3,895 2,000 4,130(thousands of units) Japan 806 1,769 820 1,780 Exports 1,002 2,126 1,180 2,350 North America 470 1,053 660 1,270 Europe 167 352 140 350 Asia 66 122 60 120 Latin America 46 82 50 90 Oceania 85 160 90 170 Others 168 357 180 350Net Sales (billions of yen) 4,664.0 10,191.8 5,200.0 11,000.0 Japan 1,671.7 3,679.8 Exports 2,992.2 6,511.9Operating Income 297.6 847.9 370.0 880.0(billions of yen) (Operating Income Ratio) (%) (6.4) (8.3) (7.1) (8.0)Ordinary Income (billions of 416.6 1,104.7 560.0 1,230.0yen) (Ordinary Income Ratio) (%) (8.9) (10.8) (10.8) (11.2)Net Income (billions of yen) 283.6 765.9 380.0 850.0 (Net Income Ratio) (%) (6.1) (7.5) (7.3) (7.7)Shareholders Return Dividend Payout 113.8 292.1 (billions of yen) Dividend Per Share (yen) 35 90 Payout Ratio (%) 40.2 38.3 Value of shares canceled - - (billions of yen) Shareholder Return (%) 40.2 38.3 (Note 6) Value of shares repurchased 61.7 133.6 (billions of yen)Number of Outstanding Shares 3,609,997 3,609,997(thousands)Number of Employees 65,994 65,798(Note 2) (Note 1) 2Q = 1st Half - 1Q , 2nd Half = FY - 1st Half , 4Q = 2nd Half - 3Q (Note 2) Part-time employees (i.e. seasonal workers) are counted in the figure,along with full-time employees. (Note 3) Figures for depreciation and capital expenditures do not includevehicles in operating lease. (Note 4) Excluding financial subsidiaries (Note 5) Calculation: Cash flows from operating activities + Cash flows frominvesting activities (excluding financial entities) (Note 6) Calculation: (Dividend payout + Value of shares canceled) / Netincome Cautionary Statement with Respect to Forward-Looking Statements This report contains forward-looking statements that reflect Toyota's plans andexpectations. These forward-looking statements are not guarantees of futureperformance and involve known and unknown risks, uncertainties and other factorsthat may cause Toyota's actual results, performance, achievements or financialposition to be materially different from any future results, performance,achievements or financial position expressed or implied by these forward-lookingstatements. These factors include: (i) changes in economic conditionsaffecting, 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 valueof the Japanese yen, the U.S. dollar, the euro, the Australian dollar, and theBritish pound; (iii) Toyota's ability to realize production efficiencies and toimplement capital expenditures at the levels and times planned by management;(iv) changes in the laws, regulations and government policies affecting Toyota'sautomotive operations, particularly laws, regulations and policies relating toenvironmental protection, vehicle emissions, vehicle fuel economy and vehiclesafety, as well as changes in laws, regulations and government policiesaffecting Toyota's other operations, including the outcome of future litigationand other legal proceedings; (v) political instability in the markets in whichToyota operates; (vi) Toyota's ability to timely develop and achieve marketacceptance of new products; and (vii) fuel shortages or interruptions intransportation systems, labor strikes, work stoppages or other interruptions to,or difficulties in, the employment of labor in the major markets where Toyotapurchases materials, components and supplies for the production of its productsor where its products are produced, distributed or sold. A discussion of these and other factors which may affect Toyota's actualresults, performance, achievements or financial position is contained inToyota's annual report on Form 20-F, which is on file with the United StatesSecurities and Exchange Commission. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Toyota Motor