Toyota Boshoku Corp. · TSE:3116
Toyota Boshoku — Q2 FY2023 Earnings Presentation
32 slides from Toyota Boshoku's earnings presentation, Oct 28, 2022
Slide 1: 2nd Quarter FY2023 Financial Results
TSE Prime Market Securities Code 3116 FY2023 (ending March 2023) 2nd Quarter Financial Results Date: Oct 28, 2022
Slide 2: Contents
Contents 1. 2nd Quarter FY2023 Financial Results 2. FY2023 Financial Forecasts 3. Appendix
Slide 3: Contents
Contents 1. 2nd Quarter FY2023 Financial Results 2. FY2023 Financial Forecasts 3. Appendix
Slide 4: Overview of Consolidated Financial Results
1-1) 2nd Quarter FY2023 Financial Results Overview of Consolidated Financial Results （100 million yen） Q2 FY2022 Q2 FY2023 YOY Change Revenue 6,520 100.0% 7,618 100.0% 1,097 16.8% Operating Profit 242 3.7% 128 1.7% △113 △47.0% Profit before income taxes 257 4.0% 197 2.6% △60 △23.5% Profit* 141 2.2%
Slide 5: Seat Production by Region
1-2) 2nd Quarter FY2023 Financial Results Seat Production by Region Total By Region （10,000 Units） +36 （10,000 Units） +10.5% YOY Change 378 2Q 2Q Pct Change 342 FY22 FY23 △10 △7.3% +3 +17 138 128 +4.4% +26.1% +21 +47.2% +5 83 +16.6% 62 65 66 64 43 32 38 2Q FY22 The China Asia & Europe& 2Q FY23 Japan
Slide 6: Consolidated Revenue & Operating Profit
1-3) 2nd Quarter FY2023 Financial Results Consolidated Revenue & Operating Profit Profit decreased due to costs related to ending business in Russia, change in the vehicle mix and overhead costs increase despite the effect of increased production Volume & Model Mix Operating Profit Variance Analysis
Slide 7: Japan Revenue & Operating Profit
1-3) 2nd Quarter FY2023 Financial Results Japan Revenue & Operating Profit Profit decreased as the production of SUV・MPV model decreased due to parts supply issues in addition to change in grade mix and increase in overhead costs Volume & Model Mix Operating Profit Variance Analysis Changes in produ
Slide 8: The Americas Revenue & Operating Profit
1-3) 2nd Quarter FY2023 Financial Results The Americas Revenue & Operating Profit Profit increased due to higher volume and inflation impact recovery of previous year from customers, despite the increase in overhead costs due to start-up for model change Volume & Model Mix Operating Profit Variance
Slide 9: China Revenue & Operating Profit
1-3) 2nd Quarter FY2023 Financial Results China Revenue & Operating Profit Profit increased due to volume increase since new products have launched last year as well as FX impact Volume & Model Mix Operating Profit Variance Analysis (10,000 units) （100 million yen） +17 83 Forex impact with JPY+15 <+
Slide 10: Asia & Oceania Revenue & Operating Profit
1-3) 2nd Quarter FY2023 Financial Results Asia & Oceania Revenue & Operating Profit Profit increased due to higher volume from sales promotion in Indonesia and India as well as FX impacts Volume & Model Mix Operating Profit Variance Analysis (10,000 units) Changes in product （100 million yen） prices
Slide 11: Europe & Africa Revenue & Operating Profit
1-3) 2nd Quarter FY2022 Financial Results Europe & Africa Revenue & Operating Profit Profit decreased due to costs related to ending business in Russia despite production increase Volume & Model Mix Operating Profit Variance Analysis (10,000 units) Changes in product （100 million yen） prices△3 TBR O
Slide 12: Contents
Contents 1. 2nd Quarter FY2023 Financial Results 2. FY2023 Financial Forecasts 3. Appendix
Slide 13: Overview of Consolidated Financial Forecasts
2-1) FY2023 Financial Forecasts Overview of Consolidated Financial Forecasts （100 million yen） FY23 FY23 Forecasts FY22 Actual YOY Change Forecasts (1Q Announced) Revenue 14,214 100.0% 15,600 100.0% 1,385 9.7% 15,700 100.0% Operating Profit 602 4.2% 430 2.8% △172 △28.7% 610 3.9% Profit before income
Slide 14: Seat Assembly Production by Region
2-2) FY2023 Financial Forecasts Seat Assembly Production by Region Total By Region （10,000 Units） （10,000 Units） +58 +8.0% YOY Change FY22 FY23 Pct Change Actual Forecast 790 732 △3 △1.1% +21 +3 +14.2% +31 273 270 +7 +2.6% +28.0% +8.5% 170 122 125 149 109 140 78 85 The Asia & Europe& FY22 FY23 Japan
Slide 15: Consolidated Revenue & Operating Profit Forecast
2-3) FY2023 Financial Forecasts Consolidated Revenue & Operating Profit Lower profits due to change in model mix and overhead costs increase in addition to costs related to ending business in Russia, despite positive impacts of production increase Volume & Model Mix Operating Profit Variance Analysi
Slide 16: Comparison with the Forecast announced 1Q
2-3) FY2023 Financial Forecasts Comparison with the Forecast announced 1Q Operating Profit variance analysis Revised downward to take into account the production decline and change in product mix in Japan in addition to costs of Russian business termination ※TBR operating loss （100 million yen） 1Q 2
Slide 17: Revenue & Operating Profit by Region
2-4) FY2023 Financial Forecasts Revenue & Operating Profit by Region Japan The Americas Lower profit due to material price Lower profit due to increase in increase, change in product mix and overhead cost from start up costs overhead cost increase despite positive despite positive impacts of higher
Slide 18: Revenue & Operating Profit by Region
2-4) FY2023 Financial Forecasts Revenue & Operating Profit by Region China Asia & Oceania Higher profit due to production Higher profit due to production increase from new product launch increase form sales promotion despite increase in overhead costs despite increase in overhead costs Volume & Mode
Slide 19: Revenue & Operating Profit by Region
2-4) FY2023 Financial Forecasts Revenue & Operating Profit by Region Europe & Africa Lower Profit due to costs related to ending business in Russia despite production increase Volume & Model Mix +7 (10,000 units) <+8.5%> 85 78 59 Compact (74.7%) Medium 4 (4.6%) SUV・MPV 15 (18.7%) Large 2 (2.0%) FY22
Slide 20: 1st/2nd Half by Region
2-5) FY2023 Financial Forecasts 1st/2nd by Region Revenue （100 million yen） 1st Half 2nd Half Full Year Japan 3,255 3,344 6,600 The Americas 1,967 1,982 3,950 China 1,269 1,430 2,700 Asia & Oceania 1,160 1,289 2,450 Europe & Africa 463 536 1,000 Total 7,618 7,981 15,600 Operating Profit （100 million
Slide 21: Returning to Shareholders
2-6) FY2023 Financial Forecasts Returning to Shareholders ■ For FY23, annual dividends plan is ¥70, increased by ¥6 compared to the previous year, which will be determined based on comprehensive evaluation of future forecasts Trends in dividend, operating profit, &profit attributable to owners of th
Slide 22: Concluding 2nd Quarter
2-7) Concluding 2nd Quarter FY2023 Financial Results 【2Q Results 】 ・Profit decreased because of change in model mix due to parts supply issues and overhead costs increase in addition to costs related to ending business in Russia ・On the other hand, action plans to achieve objectives of 2025 Business
Slide 23: Contents
Contents 1. 1st Quarter FY2023 Financial Results 2. FY2023 Financial Forecasts 3. Appendix
Slide 24: Status of the Consolidated Statement of Financial Position
Appendix1) Status of the Consolidated Statement of Financial Position (Sep.30, 2022) :Compared to the previous Current assets year end (100 million yen) 614.3billion yen Liabilities ↓ 540.9billion yen 638.2billion yen ↓ +264 +238 567.3billion yen ・increase in operating ・increase in operating receiva
Slide 25: Consolidated Cash Flows
Appendix2）Consolidated Cash Flows Cash flows from operating activities: △14.1 billion yen year-on-year Free cash flows: △18.3 billion yen year-on-year 477 351 336 Major factors 167 ・increase in operating receivables ・more expenses for capital investment etc. FY22 2Q FY23 2Q Cash flows from investing
Slide 26: Quarterly Trends: Consolidated
Appendix3) Quarterly Trends: Consolidated volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue Seat Assembly Production (10,000 units) (100 million yen) 8,000 206 194 201 220 201 183 189 195 195 193 190 177 169 153 Revenue 119 3,828 3,865 4,114 3,518 3,629 3,4
Slide 27: Quarterly Trends: Japan
Appendix4) Quarterly Trends: Japan volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 4,000 100 85 84 85 79 79 76 79 75 68 67 69 62 59 2,076 50 2,070 1,904 1,846 1,856 1,813 1,882 1,885 1,764 1,815 1,749 2,000 1,542 50 1,505
Slide 28: Quarterly Trends: The Americas
Appendix5) Quarterly Trends: The Americas volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 2,000 50 34 35 33 32 33 32 31 31 30 29 27 27 29 1,070 1,000 854 863 896 25 724 727 709 752 718 786 653 624 672 12 279 0 0 1Q 2Q 3Q 4
Slide 29: Quarterly Trends: China
Appendix6) Quarterly Trends: China volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 2,000 80 43 44 38 38 39 40 39 39 35 36 1,000 32 31 30 40 646 600 595 673 468 19 464 446 482 445 427 389 428 411 254 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3
Slide 30: Quarterly Trends: Asia & Oceania
Appendix7）Quarterly Trends: Asia & Oceania volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 2,000 35 40 34 32 28 28 29 26 25 24 24 23 21 19 1,000 20 556 634 466 488 459 10 459 528 525 389 444 417 401 342 197 0 0 1Q 2Q 3Q 4Q
Slide 31: Quarterly Trends: Europe & Africa
Appendix8) Quarterly Trends: Europe & Africa volume, revenue, operating profit, operating profit ratio Seat Assembly Production / Revenue (10,000 units) (100 million yen) 1,000 40 22 22 23 22 23 21 20 20 20 19 18 500 17 20 13 306 232 235 10 251 255 232 258 247 194 222 210 216 166 108 0 0 1Q 2Q 3Q 4Q
Slide 32: Disclaimer
<Disclaimer> This report contains forecasts and expectations that relate to future plans and strategies in addition to the expected financial results of the Toyota Boshoku Corporation and the Toyota Boshoku group. Within are estimates based on assumptions and opinions that have been formed by the co