Toyota Motor (7203) investor relations material

Executive summary

• Achieved first quarter results on par with the previous year, with sales revenues rising 10.4% year-over-year to ¥13,525.4 billion and net income attributable to shareholders up 75.6% to ¥1,477.0 billion, aided by cost reductions, foreign exchange effects, and increased HEV sales.

• Operating income declined 8.8% year-over-year to ¥1,063.4 billion, mainly due to increased expenses despite higher revenues.

• Comprehensive income surged 121.9% year-over-year to ¥1,865.9 billion.

• Revised full-year forecast upward, reflecting improved external conditions and marketing efforts, including alternative logistics routes to the Middle East.

• Continued focus on enhancing corporate value through competitiveness, business structure reform, and capital efficiency.

Financial highlights

• Sales revenues rose to ¥13,525.4 billion, up ¥1,272.0 billion year-over-year.

• Operating income for the quarter was ¥1,063.4 billion, down ¥102.6 billion year-over-year; margin decreased from 9.5% to 7.9%.

• Net income attributable to shareholders increased to ¥1,477.0 billion, up ¥635.6 billion year-over-year; net margin improved from 6.9% to 10.9%.

• Earnings per share (basic and diluted) doubled year-over-year to ¥120.69.

• Total assets decreased 2.7% from the previous quarter to ¥102,635.1 billion; shareholders' equity fell 6.8% to ¥38,228.9 billion.

• Cash and cash equivalents dropped 18.3% sequentially to ¥10,343.1 billion.

• Net cash from operating activities was ¥536.6 billion, down from ¥1,876.5 billion year-over-year.

• Foreign exchange rates contributed positively, with the yen weakening against major currencies.

Outlook and guidance

• Full-year sales revenue forecast raised to ¥54,000.0 billion, up ¥3,000.0 billion from previous guidance and 6.5% year-over-year.

• Operating income forecast increased to ¥3,400.0 billion, up ¥400.0 billion from prior forecast, but down 9.7% year-over-year.

• Net income forecast raised to ¥3,250.0 billion, up ¥250.0 billion, but down 15.5% year-over-year.

• Earnings per share for the year forecast at ¥272.17.

• Dividend per share maintained at 100 yen.

• Vehicle sales forecast at 10 million units, with electrified vehicles comprising over 56% of retail sales.