Outline of Consolidated Results for Second Quarter of FY2019 (Year Ending March 31, 2020) October 31, 2019 Toyota Tsusho Corporation
Contents 1. Outline of Consolidated Results for Second Quarter of FY2019 P.3 2. Supplementary Materials of Financial Results P.9 2
1. Outline of Consolidated Results for Second Quarter of FY2019
Outline of Consolidated Results （ Unit: Billion yen ） Six months Six months Y o Y FY 2019 ended ended Progress Change Forecast Sep.30,2018 Sep.30,2019 315.0 313.1 (1.9) 663.0 47% Gross Profit 107.4 108.6 +1.2 237.0 46% Operating Profit Profit before 121.4 125.1 +3.7 251.0 50% income taxes Profit (attributable to 78.6 79.1 +0.5 150.0 53% owners of the parent) Toyota Automotive Japan 149 Japan 172 Production TOTAL 900 Overseas 289 Overseas 284 (Unit: Ten thousands) 4
（ Unit: Billion yen ） Profit Analysis ※ ”Profit attributable to owners of the parents” is presented as ”Profit” in the following pages ・ Finance income ・ Chemical & Ele -1.9 and costs +16.7 ＜ Foreign Exchange Rate ＞ ・ Africa -0.8 FY2018 2Q FY2019 2Q Variance ※ Include divestment of ・ Metals USD 110yen 109yen -1yen -0.5 electric power business ・ Machinery ・ Africa +5.2 -0.2 EUR 130yen 121yen -9yen ・ Equity loss +0.5 ・ Global Parts ・ Automotive +0.4 +1.0 ※ Include impairment loss in the ・ Food & metal resources business, etc . ・ Finance income and costs +6.1 ・ Non-controlling Consumer +2.1 ・ Equity gain +7.8 -11.3 interests ・ Non-controlling interests -13.0 Automotive ・ Taxes -34.6 ・ Taxes -29.7 Retails Others Other Other Demand/ -2.4 Profit/Loss Markets/ Profit/Loss +5.6 Forex Effect Trading Volume Prices -2.7 +0.4 29.5 28.8 +0.3 <Effect from pre. fiscal year> ・ Tax refund in North America -1.5 ・ Divestment of real estate -0.9 108.6 107.4 ・ Business restructuring +1.0 ・ Metals +0.4 ・ Energy business bad debt +2.2 ・ Food & ・ Decrease of USD deposit valuation -2.0 78.6 79.1 Operating Consumer Operating -0.1 ・ Fixed asset sales in U.S +0.1 Profit Profit Profit Profit +1.2 FY2019 FY2018 +0.5 2Q results 2Q results 5
Summary of Division Profits （ Unit: Billion yen ） ＜ Reasons for Changes in Profit ＞ +0.5 Y o Y Division Main factors of changes Change +0.7% (9.6) Decreased largely due to impairment loss in the Metals metal resources business. Global Parts +1.1 Increased largely driven by higher trading volume & Logistics of automotive parts. 78.6 79.1 Decreased largely due to worsening of share of 7.5 profit/loss of investments accounted for using the Automotive (2.3) 17.1 equity method in the overseas automotive sales 14.1 business. Machinery, 13.0 +15.7 Increased largely due to the gain on sale of shares 8.3 Energy & in affiliate in the electric power business. Project 10.6 Chemicals (1.7) Decreased largely due to lower profit margin of the 27.7 12.0 & Electronics electronics business. Food (0.9) Decreased largely due to impairment loss in the 11.1 9.4 & Consumer food business. 2.6 Services 1.7 6.4 6.8 +0.4 Increased largely driven by growth in automobile Africa 5.5 3.4 sales volume. FY2018 FY2019 Others (2.1) Tax due to reorganization 2Q results 2Q results Total +0.5 6
Consolidated Financial Position （ Unit: Billion yen ） Mar. 31, 2019 Sep. 30, 2019 Current Current Current Liabilities Liabilities Current Assets 1,890.0 1,825.1 Assets 2,780.9 2,803.2 Non-Current Non-Current Liabilities Liabilities 1,161.7 1,290.9 Non-Current Non-Current Net Assets Net Assets Assets Assets 1,389.6 1,382.4 1,638.2 1,717.6 Mar. 31, 2019 Sep. 30, 2019 Changes Total assets 4,441.4 4,498.5 +57.1 Net worth 1,195.8 1,213.7 +17.9 Net worth ratio (%) 27 27 +0 ※ Net interest-bearing debt 988.4 1,032.5 +44.1 ※ Net DER (times) 0.8 0.9 +0.1 Current ratio (%) 148 152 +4 ※ Include the impact of on-balancing of operating leases 7
Consolidated Cash Flows （ Unit: Billion yen ） FY2018 2Q FY2019 2Q Cash flows from operating activities 62.2 Cash flows from operating activities 112.2 112.2 Profit before income taxes 121.4 Profit before income taxes 125.1 Depreciation and amortization 38.2 Depreciation and amortization 49.1 Income taxes paid -39.8 Income taxes paid -36.5 Working capital -46.9 Working capital -37.9 62.2 64.9 18.8 16.6 -15. Cash flows from investing Cash flows from investing activities -43.4 activities -95.6 -58.6 ＜ Investments ＞ -77.7 ＜ Investments ＞ -43.4 Mobility -24.8 Mobility -27.9 Resources & Environment -16.0 Resources & Environment -37.5 Life & Community -17.8 Life & Community -12.3 Cash flows from operating activities +15.2 ＜ Others ＞ -17.9 ＜ Others ＞ Cash flows from investing activities Cash from the sale of assets, etc. Increase in time deposits -95.6 Cash from the sale of assets, etc. Free cash flow 8
２ . Supplementary Materials of Financial Results
Metals Division （ Unit: Billion yen ） ・ Finance income and costs -1.4 ・ Finance income and costs -0.5 ・ Equity loss -8.5 ・ Automotive steel sheet ・ Equity gain +0.5 +0.6 ※ Include impairment loss in the in Indonesia ・ Non-controlling interests -2.1 metal resources business. ・ Non-controlling interests ・ Taxes -7.2 -1.2 ・ Taxes -7.0 Other Demand/ Profit/Loss Forex Effect Markets/Prices Trading Volume -0.4 +0.4 -0.5 Others Other Profit/Loss -0.3 9.4 ・ Automotive steel sheet 18.2 in India -0.5 26.5 ・ Automotive steel sheet 25.7 in North America -0.2 ・ Domestic automotive 17.1 recycling business +0.4 7.5 Operating Operating Profit Profit Profit -0.8 Profit -9.6 FY2019 FY2018 2Q results 2Q results 10
Global Parts & Logistics Division （ Unit: Billion yen ） ・ Finance income and costs +1.6 ※ Decrease of dividend income ・ Finance income and costs +2.9 ・ Equity gain +0.8 ・ Increase in Production in Japan ・ Equity gain +0.6 +0.9 ・ Non-controlling interests -1.4 ・ Subsidiaries of domestic interior ・ Non-controlling interests -1.4 ・ Taxes -3.2 parts manufacturing +0.5 ・ Taxes -4.9 ※ Tax effect of liquidation settlement of consolidated subsidiaries Demand/ Other Others Trading Volume Profit/Loss Other +0.2 Forex Effect Profit/Loss +1.0 -0.4 2.2 2.5 ・ Fixed asset sales in U.S +0.1 16.3 15.5 14.1 13.0 Operating Operating Profit Profit Profit Profit +0.8 FY2019 FY2018 +1.1 2Q results 2Q results 11
Automotive Division （ Unit: Billion yen ） ・ Finance income and costs -0.6 ・ Equity gain +0.9 ・ Finance income and costs -0.3 ・ Non-controlling interests -1.1 ・ Equity gain +1.8 ・ Taxes -3.3 ・ Non-controlling interests -1.1 ※ Increase in deferred tax liabilities for ・ Taxes -2.2 retained earnings of overseas affiliates Demand/ Trading Volume Other Other +0.4 Forex Effect Profit/Loss Profit/Loss -0.4 1.8 4.1 ・ Sales increase in Cambodia +0.6 12.4 12.4 ・ Sales increase in Eastern Europe +0.6 ・ Sales decrease in Russia -0.9 10.6 8.3 Operating Operating Profit Profit Profit Profit -0.0 FY2019 FY2018 -2.3 2Q results 2Q results 12
Machinery, Energy & Project Division （ Unit: Billion yen ） ・ Finance income and costs +11.4 ※ Include divestment of electric power business ・ Equity gain +7.8 ・ Finance income and costs ・ Non-controlling interests ・ Export of Machinery -1.0 -4.1 ・ Equity gain ・ Taxes plants to Iraq +0.9 +4.1 -6.5 ・ Non-controlling interests ・ Oil related -0.3 -5.0 Other ・ Taxes -4.8 Profit/Loss 8.5 Demand/ Trading Volume Other Others Profit/Loss Forex Effect +0.0 +0.5 -0.1 6.8 27.7 <Effect from pre. fiscal year> ・ Energy business bad debt 19.2 +2.2 18.8 ・ Tax refund in North America -1.5 ・ Debt Collection 12.0 -0.3 Operating Profit Operating Profit Profit Profit +0.4 FY2019 FY2018 +15.7 2Q results 2Q results 13
Chemicals & Electronics Division （ Unit: Billion yen ） ・ Finance income and costs -0.4 ・ Equity gain +1.4 ・ Finance income and costs -0.6 ・ Non-controlling interests -2.1 ・ Equity gain +1.3 ・ Taxes -5.0 ・ Non-controlling interests -1.7 ・ Taxes -4.5 Other Profit/Loss Forex Effect Chemical Electronics -0.3 -0.1 Other -1.6 6.1 Others Profit/Loss -0.2 5.6 17.2 -1.4 ・ Car electronics 15.0 11.1 9.4 Operating Operating Profit Profit Profit Profit -2.2 -1.7 FY2019 FY2018 2Q results 2Q results 14
Food & Consumer Services Division （ Unit: Billion yen ） ・ Finance income and costs -0.6 ・ Equity loss -2.1 ※ Include impairment in the overseas ・ Food Business related +1.1 food business. ・ Feed raw material +0.6 ・ Non-controlling interests -0.2 ・ Taxes ・ Finance income and costs -1.5 -0.7 ・ Equity loss -0.2 ・ Non-controlling interests Demand/ -0.2 ・ Taxes Others Trading Volume -1.3 Other -1.0 Profit/Loss +2.1 Other Profit/Loss Forex Effect Markets/Prices +0.0 -0.1 4.5 2.6 ・ Effect from divestment of 6.2 real estate in the pre. fiscal year -0.9 5.2 2.6 Operating 1.7 Operating +1.0 Profit Profit Profit Profit FY2018 -0.9 FY2019 2Q results 2Q results 15
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