FY2009 Financial Results ended March 31, 2009 April 28, 2009
Overview of FY2009 Financial Results 01 / 14 1. Sales and income decreased due to worldwide decline 1. Sales and income decreased due to worldwide decline in car production and substantial currency exchange in car production and substantial currency exchange loss. loss. 2. Annual dividend per share decreased by 14 yen 2. Annual dividend per share decreased by 14 yen to 40 yen. to 40 yen. 3. Due to the car production slump and the yen’s rise, 3. Due to the car production slump and the yen’s rise, sales and income will decrease in FY2010. sales and income will decrease in FY2010.
FY2009 Financial Results 02 / 14 (Ratio to Sales) (Unit: Billions of Yen) Change FY2009 FY2008 Change FY2009 FY2008 Sales 3,142.7 4,025.1 -882.4 -21.9% Sales 3,142.7 4,025.1 -882.4 -21.9% Operating Operating -37.3 348.7 -386.0 - -37.3 348.7 -386.0 - (-1.2%) (8.7%) Income Income Income before Income before -99.3 364.8 -464.1 - -99.3 364.8 -464.1 - (-3.2%) (9.1%) Income Taxes Income Taxes Net Income -84.1 244.4 -328.5 - Net Income -84.1 244.4 -328.5 - (-2.7%) (6.1%) JPY101/$ JPY113/$ -JPY12 JPY101/$ JPY113/$ -JPY12 Foreign Foreign Exchange Rate JPY146/Euro JPY160/Euro -JPY14 Exchange Rate JPY146/Euro JPY160/Euro -JPY14 (Unit: Millions of Units) Domestic Car Domestic Car 10.00 11.79 -15.2% -1.79 10.00 11.79 -15.2% -1.79 Production Production Overseas Car Overseas Car 11.24 12.73 -1.49 -11.7% 11.24 12.73 -1.49 -11.7% Production of Japanese Production of Japanese Manufacturers Manufacturers (3.65) (4.57) (-0.92) (-20.1%) (3.65) (4.57) (-0.92) (-20.1%) (North America) (North America)
Change in FY2009 Consolidated Sales 03 / 14 (Unit: Billions of Yen) By Customer By Business Segment 4,025.1 4,025.1 4,000 158.4 2,000 4,000 1,192.2 270.8 -20.8 3,142.7 349.7 -52.5 3,142.7 3,200 65.6 1,600 Others 2,800 Others -212.4 137.6 368.1 -76.8 74.1 218.3 Small Small 116.1 Motors Motors -74.4 979.8 272.9 -22.4 650.0 168.3 -18.7 Electronic Electronic 2,400 293.6 1,200 2,400 Others Others 121.3 -25.2 -178.6 Electric Electric -67.4 Chrysler Chrysler 471.4 43.2 291.2 Information -16.1 Ford Information 55.4 Ford 940.2 & Safety & Safety 90.9 1,600 800 2,000 Suzuki -198.3 Suzuki 100.9 741.9 -51.9 105.2 GM Powertrain GM Powertrain 1,996.3 Fiat Fiat 239.3 400 800 1,600 -468.3 Honda 1,287.9 Honda -281.0 1,006.9 1,528.0 Thermal Thermal Toyota Toyota Group Group 0 0 FY08 FY09 FY08 FY09 '08/3 '09/3 '08/3 '09/3
Change in FY2009 Income before Income Taxes 04 / 14 (Unit: Billions of Yen) 364.8 -273.6 Income Production before volume Income decrease Taxes -56.6 Currency exchange -43.2 loss Product -31.3 mix Income Expense and Raw material cost Labor others -17.7 before cost -12.1 Income -11.0 -60.5 +1.9 Depreciation Taxes +40.0 -99.3 Cost Non-operating income decrease Extraordinary reduction loss increase FY08 FY09
Geographical Segments by Company Location 05 / 14 ( ): Local Currency Base (Unit: Billions of Yen) 200 160 197.5 1,800 2,800 2,725.9 Sales Operating Income 180 140 2,600 1,600 120 160 1,400 2,400 -21.3% -24.8% 100 (-15.0%) 1,200 2,200 2,145.6 80.4 80 -32.7% 1,000 (-22.9%) 60.5 -87.8% 60 832.3 ‐ 86.4% -25.4% -17.6% (-86.1%) 800 (-84.5%) (-13.8%) (-4.2%) 41.5 40 620.3 616.2 26.5 600 559.8 20 507.7 462.5 5.1 3.6 400 0 200 -20 -114.7 -40 0 -120 FY08 FY09 FY08 FY09 日本 北中南米 欧州 豪亜 日本 北中南米 欧州 豪亜 The The Asia & Asia & Japan Europe Japan Europe Americas Oceania Americas Oceania
FY2010 Financial Forecast 06 / 14 (Ratio to Sales) (Unit: Billions of Yen) FY2010 FY2010 Change FY2009 Change FY2009 Forecast Forecast Sales 2,720.0 3,142.7 -422.7 -13.4% Sales 2,720.0 3,142.7 -422.7 -13.4% Operating Operating -40.0 -37.3 -2.7 - -40.0 -37.3 -2.7 - (-1.5%) (-1.2%) Income Income Income before Income before -38.0 -99.3 +61.3 - -38.0 -99.3 +61.3 - (-1.4%) (-3.2%) Income Taxes Income Taxes Net Income -19.0 -84.1 +65.1 - Net Income -19.0 -84.1 +65.1 - (-0.7%) (-2.7%) JPY95/$ JPY101/$ -JPY6 JPY95/$ JPY101/$ -JPY6 Foreign Foreign Exchange Rate JPY125/Euro JPY146/Euro -JPY21 Exchange Rate JPY125/Euro JPY146/Euro -JPY21 (Unit: Millions of Units) Domestic Car Domestic Car 8.13 10.00 -18.7% -1.87 8.13 10.00 -18.7% -1.87 Production Production Overseas Car Overseas Car 10.56 11.24 -0.68 -6.0% 10.56 11.24 -0.68 -6.0% Production of Japanese Production of Japanese Manufacturers Manufacturers (3.45) (3.65) (-0.20) (-5.5%) (3.45) (3.65) (-0.20) (-5.5%) (North America) (North America)
Change in FY2010 Income before Income Taxes 07 / 14 (Unit: Billions of Yen) -99.3 -38.0 Income Before Income +64.0 Income before Taxes Income Extra- Ordinary Taxes Loss decrease -120.0 +20.0 +30.0 Cost Production Raw material cost +23.0 Reduction volume decrease Labor +25.0 cost Depreciation +56.0 Fixed cost reduction -19.0 Expense -17.7 reduction Currency exchange loss Product mix FY09 FY10 F
Mid-term Profit Recovery Plan 08 / 14 FY09: Financial situation worsened because of sales slump FY09: Financial situation worsened because of sales slump FY10: Continued sales decrease forecasted FY10: Continued sales decrease forecasted FY11, FY12: Cannot have prospect of increasing sales sharply FY11, FY12: Cannot have prospect of increasing sales sharply ● Thoroughly reduce fixed cost ● Strategic shift of resources to important R&D theme Execute quickly: Execute quickly: - Build streamlined and lean business structure - Build streamlined and lean business structure - Our approach for future growth - Our approach for future growth
Mid-term Profit Recovery Plan – Streamline 09 / 14 Build streamlined and lean business structure: Build streamlined and lean business structure: Thoroughly reduce fixed cost Thoroughly reduce fixed cost Labor Cost Reduction ● Bonus for directors is zero at June 2009 ● Vastly cut bonus for managers and associates ● Cut salaries for directors and managers Effective Usage for R&D expenses FY09 After FY10 297.1 Billion yen 260.0 Billion yen -37.1
Mid-term Profit Recovery Plan – Streamline 10 / 14 CAPEX Reduction FY09 After FY10 314.4 Billion yen 156.0 Billion yen -158.4 ● Freeze CAPEX for capacity increase ● Focus on new-type and cost reduction purposes Expense Reduction ● Cost reduction activities in all divisions/sections conducted by new special department ● 25% expense reduction compared to FY09 Aim to reduce fixed cost by more than 100 billion yen. Aim to reduce fixed cost by more than 100 billion yen.
Mid-term Profit Recovery Plan – Future Growth 11 / 14 Our Approach for Future Growth: Our Approach for Future Growth: Strengthen business, cost and management Strengthen business, cost and management Business Business ■ Technology innovations for fuel efficiency/CO2 reduction ■ Strengthening of regional competitiveness Cost Cost ■ Low-cost technology ■ Value-added improvement Management Management ■ Management to maximize group capability ■ Challenge mind-set
Mid-term Profit Recovery Plan – Future Growth 12 / 14 R&D for fuel efficiency/CO2 reduction Progress of electrical system utilization DENSO Project (DP): Establish company-wide project team DENSO Project (DP): Establish company-wide project team Jan. 09 DP Designated Technology Planning Office Jan. 09 DP Idle Start and Stop Project Jan. 09 DP Fuel-economy Technology Development Office Powertrain Electric Electronic Thermal R&D Center Energy Management
Mid-term Profit Recovery Plan – Summary 13 / 14 Sales & Operating Income 4,025.1 (Billions of Yen) Sales 3,142.7 2,720 Operating Mid-term Income Profit Recovery Plan 348.7 -37.3 -40.0 Build streamlined and lean business structure FY10 F FY08 FY09 FY11 F FY12 F Aim to return to black as quickly as possible Aim to return to black as quickly as possible and to strengthen business structure. and to strengthen business structure.
Return to Shareholders 14 / 14 FY2009 Annual Dividend per Share: Decreased by 14 yen to 40 yen FY2009 Annual Dividend per Share: Decreased by 14 yen to 40 yen (Yen) 60 54 Dividends per Share 50 45 40 TBD 38 40 30 20 10 0 FY06 FY07 FY08 FY09 FY10 F
Appendix ･ Geographical Segments by Company Location ･ Capital Expenditures, Depreciation and R&D ･ Non-Consolidated Financial Results ･ Pre-Conditions (Foreign Exchange Rate/Car Production) ･ Consolidated Sales by Customer ･ Consolidated Sales by Business Segment
Geographical Segments by Company Location ( ): Local Currency Base (Unit: Billions of Yen) 80 1,800 2,800 -27.2% (-25.3%) 2,145.6 Operating Income Sales 60.5 2,100 1,600 60 -13.8% 44.0 1,400 2,000 1,850.0 40 1,200 +71.7% -3.4% (+89.6%) 20 (-4.0%) 1,000 5.0 6.0 5.1 3.6 0 800 -10.6% -8.8% -20 (-3.7%) -19.6% (-3.0%) (-5.9%) 600 559.8 507.7 500.0 462.5 463.0 -40 372.0 400 -93.0 -60 -100 200 -114.7 0 -120 -80 FY09 FY10F FY09 FY10F 日本 北中南米 欧州 豪亜 日本 北中南米 欧州 豪亜 The The Asia & Asia & Japan Europe Japan Europe Americas Oceania Americas Oceania
Recommend
More recommend
