This notice has been translated from the original notice in Japanese. In the event of any discrepancy the original in Japanese shall prevail In the event of any discrepancy, the original in Japanese shall prevail. Fiscal Year 2012 Results i 2012 and Fiscal Year 2013 Plan and Fiscal Year 2013 Plan April 26, 2013 TOTO
1 ． Financial Result for FY 2012 Contents 2 ． Financial Plan for FY 2013 3 ． Policies and Topics for FY 2013 4 ． TOTO V Plan 2017 2
Fiscal 2012 Financial Overview Net Sales: Increase (3years running) Operating profit: Increase (4 years running) ■ Increased sales and profit Recurring profit: Increase (4 years running) Increased profit due to the favorable performance of Net profit: Increase (4 years running) the Domestic Remodeling Business and a reduction in costs Operating profit recovered to a pre-Lehman shock level <Domestic Housing Equipment Business> ・ Increased sales and profit from both the Remodeling and New Housing Businesses due to sales growth achieved I d l d fi f b h h R d li d N H i B i d l h hi d against the backdrop of the recovery in the housing market, as well as the progress made in cost reductions *New construction: 880 thousand houses New construction on a delivery basis: 860 thousand houses <Overseas Housing Equipment Business> ・ Despite a slowdown in the Chinese real estate market and also market stagnation in some parts of Asia and Oceania, sales increased in every market. Results were also affected by fluctuations in foreign currency exchange , y y g y g rates, but despite all these factors the Company increased overall sales and profit in its overseas market (on a Japanese-yen basis). <New Domain Business> <New Domain Business> ・ Both sales and profit decreased in the Ceramics Business due to a prolonged market-correction phase ・ Sales decreased in the Environmental Construction Materials Business as a result of a change to the product mix of exterior construction materials by house manufacturers, but account deficit narrowed by improving productivity and other efforts productivity and other efforts. 3
FY2012 Result ■ Financial results ■ Financial results Y billion, rounded down YoY FY11 FY12 Difference Result Result (%) +23.6 Net Sales 452.6 476.2 (+5%) +4.6 Operating Profit 18.7 23.3 (+25%) +6.5 6 5 Recurring Profit 19.5 26.0 (+34%) Extraordinary Loss Extraordinary Loss -3.9 3 9 -3.6 3 6 +0 3 +0.3 +7.7 Net Profit 9.2 16.9 (+83%) (+83%) Capital Investment 32.2 19.9 Depreciation 18.3 19.5 4
FY2012 Result ■ Sales and profit by business segment ■ Sales and profit by business segment Y billion, rounded down Y billion rounded down ＜ Operating Profit ＞ ＜ Net Sales ＞ 476.2 452 6 452.6 23.3 18.7 Remodeling Remodeling New Housing New Housing FY11 FY11 FY12 FY12 Y Y(%) YoY(%) FY11 FY12 YoY Domestic H.E. 375.4 386.8 +3% Domestic H.E. 17.2 21.6 +4.4 (Remodeling) 248.4 258.1 +4% (Remodeling) 14.2 18.2 +4.0 (New Housing) 126.9 128.6 +1% (New Housing) 2.9 3.4 +0.5 Overseas H.E. 62.6 75.1 +20% Overseas H.E. 7.0 8.1 +1.1 New Domain 14.4 14.1 -2% New Domain -2.9 -3.5 -0.7 Others 0.1 0.1 +9% Others -2.5 -2.8 -0.3 Increased sales and profit in both the domestic (New Housing and Remodeling) and overseas markets 5
FY2012 Result ■ Sales per products in domestic housing equipment ■ Sales per products in domestic housing equipment Y billion, rounded down Net Sales FY11 FY12 YoY(%) Restroom Products 146.1 148.3 +1% Fitti Fittings + 3% 3% Bathrooms + 2% Modular Kitchens/Basins M d l Kit h /B i +1% +1% Bath/Kitchen Products Total 200.5 204.5 + 2% Others Total Others Total 39 2 39.2 43.5 43 5 + 11% + 11% ※ Total(before adjustment) 385.9 396.3 + 3% Domestic H.E. Total 375.4 386.8 + 3% ※ : Internal sales or sales transferred between different segments Strong sales for all products. 6
FY2012 Result ■ Sales and profit per region in Overseas housing equipment ■ Sales and profit per region in Overseas housing equipment ■ In Local Currency Net Sales Operating Profit Currency FY11 FY12 YoY(%) FY11 FY12 YoY Americas $ million 191.9 206.6 +8% -8.3 3.8 +12.1 Billion China 2.7 2.9 +6% 0.5 0.5 -0.0 Chinese yuen Asian & Oceanian $ million $ million 153.8 153 8 163.2 163 2 +6% +6% 15.0 15 0 9 5 9.5 -5 5 -5.5 Region R i Europe 19.4 23.2 +19% -7.8 -7.9 -0.1 € million ■ In Japanese Yen (Y billion, rounded down) Americas 14.9 17.8 +20% -0.6 0.3 +0.9 Y billion China Y billion 33.7 40.4 +20% 7.2 7.8 +0.5 Asian & Oceanian 11.9 14.1 +18% 1.1 0.8 -0.3 Y billion Region g Europe Y billion 1.9 2.6 +36% -0.7 -0.9 -0.1 Total 62.6 75.1 +20% 7.0 8.1 +1.1 Y billion 1$ 77.7 86.6 Exchange rates 12.3 13.9 1 Chinese yuen 1 € 100.7 114.7 Increased sales in every region 7
FY2012 Result ■ Cause of increase/decrease of Operating Profit ■ Cause of increase/decrease of Operating Profit Y billion, rounded down FY12 FY12 Cause of Increase/Decrease Result P Positive iti U Usual Cost Reduction l C t R d ti +4 3 +4.3 Cost Reduction +8.8 Factors V Plan Cost Reduction +4.5 Increase in Remodeling Sales +3.4 Increase in New Housing Sales +0.4 Profit and loss in Overseas Housing Equipment Business +1.1 Negative Increase in material price Negative Increase in material price -0.8 0.8 Factors Strengthening investment sales -1.9 V Plan investment -2.3 Increase in labor cost Increase in labor cost -2 0 -2.0 Respond to the expansion of volume zone market -1.5 Others -0.6 Total +4.6 8
FY2013 Annual Plan Overview ■ Plan to achieve increased sales and profit The Company is aiming to increase sales, increase operating profit, increase recurring profit, and increase net profit in its Domestic Housing Equipment Business, Overseas Housing Equipment Business, and New Domain Business B i O H i E i t B i d N D i B i <Domestic Housing Equipment Business> ・ Aiming to increase sales by 5% by strengthening the remodeling strategy through the TDY Aiming to increase sales by 5% by strengthening the remodeling strategy through the TDY Green Remodel Fairs and the launch of new products, as well as continuing with the green remodeling proposal that is focused on showrooms *New construction: 930 thousand houses New construction on a delivery basis: 920 thousand <Overseas Housing Equipment Business> ・ Aiming to increase sales in all regions including the Americas China the Asian and Oceania ・ Aiming to increase sales in all regions including the Americas, China, the Asian and Oceania region, and Europe ・ Progressing the construction of a production system to respond to the expansion of demand from China and the Asian and Oceania region <New Domain Business> ・ Aiming to increase sales and profit in both the Environmental Construction Materials B Business and the Ceramics Business i d th C i B i 9
FY2013 Plan ■ Financial Plan ■ Financial Plan Y billion rounded down Y billion, rounded down YoY FY13 FY12 Difference FY14 Result 1H Plan 1H Plan 2H Plan 2H Plan Total Total (%) (%) +40.8 517.0 520.0 476.2 240.5 276.5 Net Sales ( (+9%) ) +5.7 29.0 30.0 23.3 8.7 20.3 Operating Profit (+24%) +4.0 30.0 26.0 9.4 20.6 Recurring Profit (+15%) -5 -3.6 -0.5 -4.5 -1.4 Extraordinary Loss +3.1 20 0 20.0 16 9 16.9 7 4 7.4 12 6 12.6 Net Profit Net Profit (+18%) Capital Investment 19.9 21.5 12.3 33.8 Depreciation 19.5 7.2 8.0 15.2 10
FY2013 Plan ■ Sales and profit by business segment ■ Sales and profit by business segment Y billion, rounded down Y billion rounded down ＜ Operating Profit ＞ ＜ Net Sales ＞ 517.0 476.2 29.0 23.3 Remodeling Remodeling New Housing New Housing FY12 FY12 FY13 FY13 Y Y(%) YoY(%) FY12 FY13 YoY Domestic H.E. 386.8 406.5 +5% Domestic H.E. 21.6 23.1 +1.5 (Remodeling) 258.1 271.7 +5% (Remodeling) 18.2 19.5 +1.3 (New Housing) 128.6 134.8 +5% (New Housing) 3.4 3.6 +0.2 Overseas H.E. 75.1 91.7 +22% Overseas H.E. 8.1 9.8 +1.7 New Domain 14.1 18.4 +31% New Domain -3.5 -1.3 +2.2 Others 0.1 0.2 +13% Others -2.8 -2.6 +0.2 Aiming to increase sales and profit in the Domestic Business (New Housing and Remodeling), Overseas Business, and New Domain Business. 11
FY2013 Plan ■ Sales per products in domestic housing equipment ■ Sales per products in domestic housing equipment Y billion, rounded down Sales FY12 FY13 YoY(%) Restroom Products 148.3 152.7 +3% Fitti Fittings +4% 4% Bathrooms +4% Modular Kitchens/Basins M d l Kit h /B i +5% +5% Bath/Kitchen Products Total 204.5 212.6 +4% Others Total Others Total 43 5 43.5 50.0 50 0 +15% +15% Total(before adjustment) ※ 396.3 415.5 +5% Domestic H.E. Total 386.8 406.5 + 5% ※ : Internal sales or sales transferred between different segments Aiming to increase sales in all products 12
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