SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

For the month of August, 2019

Commission File Number 001-14948

 

 

Toyota Motor Corporation

(Translation of Registrant’s Name Into English)

 

 

1, Toyota-cho, Toyota City,

Aichi Prefecture 471-8571,

Japan

(Address of Principal Executive Offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F       X         Form 40-F             

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):             

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):             

 

 

 

Material Contained in this Report:

 

I.	English translations of the original Japanese-language documents, as filed with the Tokyo Stock Exchange on August 2, 2019, with respect to the registrant’s results of operations for the first quarter of FY2020 ended June 30, 2019.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: August 2, 2019

FINANCIAL SUMMARY

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

FY2020 First Quarter

(April 1, 2019 through June 30, 2019)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

FY2020 First Quarter Consolidated Financial Results

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

English translation from the original Japanese-language document

August 2, 2019

 

Company name		:		Toyota Motor Corporation
Stock exchanges on which the shares are listed		:		Tokyo and Nagoya Stock Exchanges in Japan
Code number		:		7203
URL		:		https://global.toyota/jp/
Representative		:		Akio Toyoda, President
Contact person		:		Kaname Shimizu, General Manager, Accounting Division Tel. (0565)28-2121
Filing date of quarterly securities report		:		August 9, 2019
Payment date of cash dividends		:		—
Supplemental materials prepared for quarterly financial results		:		yes
Earnings announcement for quarterly financial results		:		yes

(Amounts are rounded to the nearest million yen)

 

1.	Consolidated Results for FY2020 First Quarter (April 1, 2019 through June 30, 2019)

 

(1)	Consolidated financial results (For the three months ended June 30)

 

		(% of change from previous first quarter)
		Net revenues								Operating income								Income before income taxes and equity in earnings of affiliated companies								Net income attributable  to Toyota Motor Corporation
		Million yen				%				Million yen				%				Million yen				%				Million yen				%
FY2020 first quarter			7,646,091				3.8				741,951				8.7				841,750				3.4				682,974				3.9
FY2019 first quarter			7,362,733				4.5				682,687				18.9				813,864				19.8				657,306				7.2

 

(Note)  Comprehensive income: FY2020 first quarter 596,559 million yen (-19.7 %), FY2019 first quarter 742,474 million yen (4.8 %)

 

		Net income attributable to Toyota Motor Corporation per common share – Basic				Net income attributable to Toyota Motor Corporation per  common share – Diluted
		Yen				Yen
FY2020 first quarter			239.64				237.22
FY2019 first quarter			224.67				222.33

 

(2)	Consolidated financial position

 

		Total assets				Mezzanine equity and Shareholders’ equity				Toyota Motor  Corporation shareholders’ equity				Ratio of Toyota Motor Corporation shareholders’ equity
		Million yen				Million yen				Million yen				%
FY2020 first quarter			52,117,436				20,738,529				19,527,680				37.5
FY2019			51,936,949				20,565,210				19,348,152				37.3

 

2.	Cash Dividends

 

		Annual cash dividends per common share
		End of first quarter				End of second quarter				End of third quarter				Year-end				Total
		Yen				Yen				Yen				Yen				Yen
FY2019			—				100.00				—				120.00				220.00
FY2020			—
FY2020 (forecast)							—				—				—				—

 

(Note)		Revisions to the forecast of cash dividends since the latest announcement:  none
		Please refer to “(Reference) Cash Dividends on Class Shares” for information regarding cash dividends on class shares, which are unlisted and have different rights from common stock.

 

3.	Forecast of Consolidated Results for FY2020 (April 1, 2019 through March 31, 2020)

 

		(% of change from FY2019)
		Net revenues								Operating income								Income before income taxes and equity in earnings of affiliated companies								Net income attributable to Toyota Motor Corporation								Net income attributable to Toyota Motor Corporation per common share – Basic
		Million yen				%				Million yen				%				Million yen				%				Million yen				%				Yen
Full-year			29,500,000				-2.4				2,400,000				-2.7				2,560,000				12.0				2,150,000				14.2				754.71

 

(Note)  Revisions to the forecast of consolidated results since the latest announcement:  yes

Notes

 

(1)	Changes in significant subsidiaries during the current quarter

(Changes in specified subsidiaries that caused a change in the scope of consolidation): none

 

(2)	Simplified accounting procedures and specific accounting procedures: yes

Note: For more details, please see page 7 “Other Information”.

 

(3)	Changes in accounting policies

 

(i)

Changes by a newly issued accounting pronouncement: yes

 

(ii)

Changes other than (3)-(i) above: yes

Note: For more details, please see page 7 “Other Information”.

 

(4)	Number of shares issued and outstanding (common stock)

 

(i)

Number of shares issued and outstanding at the end of each period (including treasury stock):

FY2020 first quarter 3,262,997,492 shares, FY2019    3,262,997,492 shares

 

(ii)

Number of treasury stock at the end of each period:

FY2020 first quarter 438,661,565 shares, FY2019    430,558,325 shares

 

(iii)

Average number of shares issued and outstanding in each period:

FY2020 first quarter 2,831,992,804 shares, FY2019 first quarter 2,909,189,575 shares

This report is not reviewed.

Cautionary Statement with Respect to Forward-Looking Statements, and Other Information

This report contains forward-looking statements that reflect Toyota’s plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include, but are not limited to: (i) changes in economic conditions, market demand, and the competitive environment affecting the automotive markets in Japan, North America, Europe, Asia and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro, the Australian dollar, the Russian ruble, the Canadian dollar and the British pound, fluctuations in stock prices, and interest rates fluctuations; (iii) changes in funding environment in financial markets and increased competition in the financial services industry; (iv) Toyota’s ability to market and distribute effectively; (v) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (vi) changes in the laws, regulations and government policies in the markets in which Toyota operates that affect Toyota’s automotive operations, particularly laws, regulations and government policies relating to vehicle safety including remedial measures such as recalls, trade, environmental protection, vehicle emissions and vehicle fuel economy, as well as changes in laws, regulations and government policies that affect Toyota’s other operations, including the outcome of current and future litigation and other legal proceedings, government proceedings and investigations; (vii) political and economic instability in the markets in which Toyota operates; (viii) Toyota’s ability to timely develop and achieve market acceptance of new products that meet customer demand; (ix) any damage to Toyota’s brand image; (x) Toyota’s reliance on various suppliers for the provision of supplies; (xi) increases in prices of raw materials; (xii) Toyota’s reliance on various digital and information technologies; (xiii) fuel shortages or interruptions in electricity, transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold; and (xiv) the impact of natural calamities including the negative effect on Toyota’s vehicle production and sales.

A discussion of these and other factors which may affect Toyota’s actual results, performance, achievements or financial position is contained in Toyota’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.

This report contains summarized and condensed financial information prepared in accordance with U.S. generally accepted accounting principles.

(Reference) Cash Dividends on Class Shares

Cash dividends on class shares, which have different rights from common stock, are as follows:

 

		Annual cash dividends per First Series Model AA Class Share
		End of first quarter				End of second quarter				End of third quarter				Year-end				Total
		Yen				Yen				Yen				Yen				Yen
FY2019			—				105.50				—				105.50				211.00
FY2020			—
FY2020 (forecast)							—				—				—				—

 

(Note)  The First Series Model AA Class Shares were issued in July 2015.

TOYOTA MOTOR CORPORATION    FY2020 First Quarter Financial Summary

 

TABLE OF CONTENTS

 

1.   Consolidated Financial Statements			2
(1) Consolidated Balance Sheets			2
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income			4
(3) Consolidated Statements of Cash Flows			6
(4) Going Concern Assumption			7
(5) Significant Changes in Shareholders’ Equity			7
2.   Other Information			7
(1) Changes in significant subsidiaries during the current period			7
(2) Simplified accounting procedures and accounting procedures specific to quarterly consolidated financial statements			7
(3) Changes in accounting principles, procedures, and disclosures for consolidated financial statements			7
Supplemental Material for Financial Results for FY2020 First Quarter

 

1

TOYOTA MOTOR CORPORATION    FY2020 First Quarter Financial Summary

 

 

1.	Consolidated Financial Statements

(1) Consolidated Balance Sheets

		(Yen in millions)
		FY2019 (March 31, 2019)				FY2020 first quarter (June 30, 2019)				Increase (Decrease)
Assets
Current assets:
Cash and cash equivalents			3,574,704				3,761,800				187,096
Time deposits			1,126,352				1,466,979				340,627
Marketable securities			1,127,160				971,958				(155,202	)
Trade accounts and notes receivable, less allowance for doubtful accounts			2,372,734				2,234,909				(137,825	)
Finance receivables, net			6,647,771				6,648,292				521
Other receivables			568,156				528,709				(39,447	)
Inventories			2,656,396				2,738,140				81,744
Prepaid expenses and other current assets			805,964				935,748				129,784
Total current assets			18,879,237				19,286,535				407,298
Noncurrent finance receivables, net			10,281,118				10,265,912				(15,206	)
Investments and other assets:
Marketable securities and other securities investments			7,479,926				7,095,229				(384,697	)
Affiliated companies			3,313,723				3,288,535				(25,188	)
Employees receivables			21,683				22,408				725
Other			1,275,768				1,618,292				342,524
Total investments and other assets			12,091,100				12,024,464				(66,636	)
Property, plant and equipment:
Land			1,386,308				1,374,624				(11,684	)
Buildings			4,802,175				4,773,122				(29,053	)
Machinery and equipment			11,857,425				11,706,623				(150,802	)
Vehicles and equipment on operating leases			6,139,163				5,968,646				(170,517	)
Construction in progress			651,713				647,443				(4,270	)
Total property, plant and equipment, at cost			24,836,784				24,470,458				(366,326	)
Less – Accumulated depreciation			(14,151,290	)			(13,929,933	)			221,357
Total property, plant and equipment, net			10,685,494				10,540,525				(144,969	)
Total assets			51,936,949				52,117,436				180,487

 

2

TOYOTA MOTOR CORPORATION    FY2020 First Quarter Financial Summary

 

 

		(Yen in millions)
		FY2019 (March 31,  2019)				FY2020 first  quarter (June 30, 2019)				Increase (Decrease)
Liabilities
Current liabilities:
Short-term borrowings			5,344,973				5,297,509				(47,464	)
Current portion of long-term debt			4,254,260				4,302,570				48,310
Accounts payable			2,645,984				2,464,104				(181,880	)
Other payables			1,102,802				916,863				(185,939	)
Accrued expenses			3,222,446				3,236,485				14,039
Income taxes payable			320,998				208,238				(112,760	)
Other current liabilities			1,335,475				1,475,975				140,500
Total current liabilities			18,226,938				17,901,744				(325,194	)
Long-term liabilities:
Long-term debt			10,550,945				10,549,161				(1,784	)
Accrued pension and severance costs			963,406				967,683				4,277
Deferred income taxes			1,014,851				1,049,355				34,504
Other long-term liabilities			615,599				910,964				295,365
Total long-term liabilities			13,144,801				13,477,163				332,362
Total liabilities			31,371,739				31,378,907				7,168
Mezzanine equity
Model AA Class Shares, no par value, authorized: 150,000,000 shares at March 31, 2019 and June 30, 2019 issued: 47,100,000 shares at March 31, 2019 and June 30, 2019			498,073				497,425				(648	)
Shareholders’ equity
Toyota Motor Corporation shareholders’ equity:
Common stock, no par value, authorized: 10,000,000,000 shares at March 31, 2019 and June 30, 2019 issued: 3,262,997,492 shares at March 31, 2019 and June 30, 2019			397,050				397,050				—
Additional paid-in capital			487,162				488,077				915
Retained earnings			21,987,515				22,326,275				338,760
Accumulated other comprehensive income (loss)			(916,650	)			(1,022,489	)			(105,839	)
Treasury stock, at cost, 430,558,325 shares at March 31, 2019 and 438,661,565 shares at June 30, 2019			(2,606,925	)			(2,661,233	)			(54,308	)
Total Toyota Motor Corporation shareholders’ equity			19,348,152				19,527,680				179,528
Noncontrolling interests			718,985				713,424				(5,561	)
Total shareholders’ equity			20,067,137				20,241,104				173,967
Commitments and contingencies
Total liabilities, mezzanine equity and shareholders’ equity			51,936,949				52,117,436				180,487

 

Note: The total number of authorized shares for common stock and Model AA Class Shares is 10,000,000,000 shares.

 

3

TOYOTA MOTOR CORPORATION    FY2020 First Quarter Financial Summary

 

(2) Consolidated Statements of Income and

      Consolidated Statements of Comprehensive Income

First quarter for the three months ended June 30

Consolidated Statements of Income

 

		(Yen in millions)
		FY2019 first  quarter (Three months ended June 30, 2018)				FY2020 first quarter (Three months ended June 30, 2019)				Increase (Decrease)
Net revenues:
Sales of products			6,853,963				7,103,793				249,830
Financing operations			508,770				542,298				33,528
Total net revenues			7,362,733				7,646,091				283,358
Costs and expenses:
Cost of products sold			5,639,996				5,869,652				229,656
Cost of financing operations			348,155				340,438				(7,717	)
Selling, general and administrative			691,895				694,050				2,155
Total costs and expenses			6,680,046				6,904,140				224,094
Operating income			682,687				741,951				59,264
Other income (expense):
Interest and dividend income			87,888				74,391				(13,497	)
Interest expense			(3,439	)			(4,351	)			(912	)
Foreign exchange gain (loss), net			39,216				(58,008	)			(97,224	)
Unrealized gains (losses) on equity securities			35,033				90,771				55,738
Other income (loss), net			(27,521	)			(3,004	)			24,517
Total other income (expense)			131,177				99,799				(31,378	)
Income before income taxes and equity in earnings of affiliated companies			813,864				841,750				27,886
Provision for income taxes			246,163				249,629				3,466
Equity in earnings of affiliated companies			116,535				109,553				(6,982	)
Net income			684,236				701,674				17,438
Less – Net income attributable to noncontrolling interests			(26,930	)			(18,700	)			8,230
Net income attributable to Toyota Motor Corporation			657,306				682,974				25,668
Note:     Net income attributable to common shareholders for the first three months ended June 30, 2019 and 2018 is 678,653 million yen and 653,609 million yen, respectively, which is derived by deducting dividend and accretion to Model AA Class Shares of 4,321 million yen and 3,697 million yen, respectively, from Net income attributable to Toyota Motor Corporation.
		(Yen)
Net income attributable to Toyota Motor Corporation per common share
Basic			224.67				239.64				14.97
Diluted			222.33				237.22				14.89

 

4

TOYOTA MOTOR CORPORATION    FY2020 First Quarter Financial Summary

 

Consolidated Statements of Comprehensive Income

 

		(Yen in millions)
		FY2019 first  quarter (Three months ended June 30, 2018)				FY2020 first quarter (Three months ended June 30, 2019)				Increase (Decrease)
Net income			684,236				701,674				17,438
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments			50,709				(143,006	)			(193,715	)
Unrealized gains (losses) on securities			84				40,453				40,369
Pension liability adjustments			7,445				(2,562	)			(10,007	)
Total other comprehensive income (loss)			58,238				(105,115	)			(163,353	)
Comprehensive income			742,474				596,559				(145,915	)
Less – Comprehensive income attributable to noncontrolling interests			(22,836	)			(19,424	)			3,412
Comprehensive income attributable to Toyota Motor Corporation			719,638				577,135				(142,503	)

 

5

TOYOTA MOTOR CORPORATION    FY2020 First Quarter Financial Summary

 

(3) Consolidated Statements of Cash Flows

 

		(Yen in millions)
		FY2019 first  quarter (Three months ended June 30, 2018)				FY2020 first  quarter (Three months ended June 30, 2019)
Cash flows from operating activities:
Net income			684,236				701,674
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation			413,454				398,352
Provision (reversal) for doubtful accounts and credit losses			12,131				18,384
Pension and severance costs, less payments			5,022				3,119
Losses on disposal of fixed assets			10,655				16,493
Unrealized losses (gains) on securities			(32,262	)			(96,781	)
Deferred income taxes			34,913				56,043
Equity in earnings of affiliated companies			(116,535	)			(109,553	)
Changes in operating assets and liabilities, and other			(187,598	)			(79,361	)
Net cash provided by operating activities			824,016				908,370
Cash flows from investing activities:
Additions to finance receivables			(3,957,951	)			(4,204,465	)
Collection of and proceeds from sales of finance receivables			3,669,804				3,848,016
Additions to fixed assets excluding equipment leased to others			(423,425	)			(408,803	)
Additions to equipment leased to others			(604,308	)			(589,689	)
Proceeds from sales of fixed assets excluding equipment leased to others			13,714				6,817
Proceeds from sales of equipment leased to others			337,641				365,785
Purchases of marketable securities and security investments			(669,345	)			(292,512	)
Proceeds from sales of and maturity of marketable securities and security investments			602,713				885,676
Changes in investments and other assets, and other			(11,470	)			(341,897	)
Net cash used in investing activities			(1,042,627	)			(731,072	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt			1,417,764				1,559,652
Payments of long-term debt			(907,349	)			(1,183,674	)
Increase in short-term borrowings			156,882				82,498
Dividends paid to Toyota Motor Corporation class shareholders			(3,721	)			(4,969	)
Dividends paid to Toyota Motor Corporation common shareholders			(349,191	)			(339,893	)
Dividends paid to noncontrolling interests			(28,520	)			(18,660	)
Reissuance (repurchase) of treasury stock			(128,861	)			(54,308	)
Net cash provided by financing activities			157,004				40,646
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents			9,587				(33,972	)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents			(52,020	)			183,972
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period			3,219,639				3,706,515
Cash and cash equivalents and restricted cash and cash equivalents at end of period			3,167,619				3,890,487

 

Note:

Cash and cash equivalents and restricted cash and cash equivalents for the first quarter ended June 30, 2019 include restricted cash and cash equivalents of 131,811 million yen and 128,687 million yen at beginning of period and end of period, respectively. Restricted cash and cash equivalents were included in Prepaid expenses and other current assets in the consolidated balance sheets.

 

6

TOYOTA MOTOR CORPORATION    FY2020 First Quarter Financial Summary

 

(4) Going Concern Assumption

None

(5) Significant Changes in Shareholders’ Equity

None

 

2.	Other Information

(1) Changes in significant subsidiaries during the current period

(Changes in specified subsidiaries that caused a change in the scope of consolidation)

None

(2) Simplified accounting procedures and accounting procedures specific to quarterly consolidated financial statements

Provision for income taxes

The provision for income taxes is computed by multiplying income before income taxes and equity in earnings of affiliated companies for the first quarter by estimated annual effective tax rates. These estimated annual effective tax rates reflect anticipated investment tax credits, foreign tax credits and other items, including changes in valuation allowances, that are expected to affect estimated annual effective tax rates.

(3) Changes in accounting principles, procedures, and disclosures for consolidated financial statements

Adoption of new accounting standard

In February 2016, the Financial Accounting Standards Board (“FASB”) issued updated guidance for leases. This guidance requires lessees to recognize substantially all leases on their balance sheet as a right-of-use asset and a lease liability. The parent company and its consolidated subsidiaries (“Toyota”) adopted this guidance on April 1, 2019 using the modified retrospective method of adoption and elected the transition method that allows for application of the standard at the adoption date. Additionally, Toyota elected the package of practical expedients of not reassessing lease classifications and others for lease contracts that expired or exist as of the adoption date. As a result of adoption, Toyota recognized an additional balance of ¥354,569 million as right-of-use assets as of June 30, 2019, which is included in “Other” of “Investments and other assets” of Toyota’s consolidated balance sheet. Lease liabilities are included in “Other current liabilities” and “Other long-term liabilities,” and were ¥70,467 million and ¥283,897 million, respectively.

In August 2017, the FASB issued updated guidance for hedge accounting. This guidance simplifies and expands the application of hedge accounting. Toyota adopted this guidance on April 1, 2019. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

 

7

TOYOTA MOTOR CORPORATION    FY2020 First Quarter Financial Summary

 

Change in depreciation method

Toyota used the declining-balance method mainly for the parent company and Japanese subsidiaries, and the straight-line method for foreign subsidiary companies, regarding the depreciation method of property, plant and equipment. In recent years, Toyota has been strengthening competitiveness globally through the investments in areas such as the remodeling of cars by introducing a new platform and powertrain units, the improvement of technological capabilities and productivity, as well as the promotion of equipment versatility. In response to such recent changes, effective as of April 1, 2019, Toyota changed the depreciation method of the parent company and Japanese subsidiaries to the straight-line method because we believe it better reflects the future economic benefit from the stable usage of property, plant and equipment. The impact of the change in depreciation method is recognized prospectively as a change in accounting estimate in accordance with the FASB Accounting Standards Codification (ASC) 250 “Accounting Changes and Error Corrections”.

As a result of the change in depreciation method, depreciation expense for the first quarter ended June 30, 2019 decreased by ¥25,347 million. Net income attributable to Toyota Motor Corporation and basic net income attributable to Toyota Motor Corporation per common share for the first quarter ended June 30, 2019 increased by ¥16,784 million and ¥5.93, respectively.

 

8

Supplemental Material for Financial Results for FY2020 First Quarter (Consolidated)

< U.S. GAAP >

 

		FY2019																				FY2020				FY2020
		1Q (2018/4-6)				2Q (2018/7-9)				3Q (2018/10-12)				4Q (2019/1-3)				12 months (’18/4-’19/3)				1Q (2019/4-6)				Forecast 12 months (’19/4-’20/3)
Vehicle Production (thousands of units)			2,199				2,184				2,262				2,340				8,985				2,311
(Japan) –including Daihatsu & Hino			1,003				1,004				1,099				1,203				4,309				1,134
[Daihatsu & Hino]			[257	]			[257	]			[290	]			[292	]			[1,096	]			[265	]
(Overseas) –including Daihatsu & Hino			1,196				1,180				1,163				1,138				4,676				1,178
[Daihatsu & Hino]			[133	]			[162	]			[161	]			[141	]			[598	]			[124	]
North America			517				447				435				442				1,841				499
Europe			168				159				173				180				679				174
Asia			402				449				429				402				1,682				386
Central and South America			82				93				96				82				353				86
Africa			28				31				30				32				121				33
Vehicle Sales (thousands of units)			2,236				2,183				2,282				2,276				8,977				2,303				9,000
[First Half 6 months]																			[4,419	]							[4,620	]
(Japan) –including Daihatsu & Hino			510				521				565				631				2,226				555				2,210
[Daihatsu & Hino]			[155	]			[161	]			[169	]			[203	]			[688	]			[158	]			[680	]
(Overseas) –including Daihatsu & Hino			1,726				1,662				1,717				1,645				6,751				1,748				6,790
[Daihatsu & Hino]			[75	]			[87	]			[89	]			[86	]			[337	]			[65	]			[340	]
North America			746				665				680				654				2,745				744				2,690
Europe			253				240				232				269				994				274				1,030
Asia			394				417				464				410				1,684				398				1,730
Central and South America			117				120				114				97				448				104				420
Oceania			72				74				66				60				272				66				260
Africa			48				50				54				48				200				54				220
Middle East			93				95				105				104				398				106				440
Other			2				2				2				2				8				4
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]			2,616				2,677				2,707				2,602				10,603				2,709				10,730
Housing Sales (units)			1,892				4,808				2,656				5,777				15,133				2,164

 

Supplemental 1

Supplemental Material for Financial Results for FY2020 First Quarter (Consolidated)

< U.S. GAAP >

 

		FY2019																				FY2020				FY2020
		1Q (2018/4-6)				2Q (2018/7-9)				3Q (2018/10-12)				4Q (2019/1-3)				12 months (’18/4-’19/3)				1Q (2019/4-6)				Forecast 12 months (’19/4-’20/3)
Foreign Exchange Rates
Yen to US Dollar Rate			109				111				113				110				111				110				as premise: 106
Yen to Euro Rate			130				130				129				125				128				123				as premise: 121
Market Share (Japan)
Toyota (excluding Mini-Vehicles) (%)			46.2				45.2				47.3				45.1				45.9				49.0				approximately: 48.0
Toyota, Daihatsu and Hino (including Mini-Vehicles) (%)			43.8				42.7				44.9				43.1				43.6				45.2
Number of Employees			373,272				371,796				371,495				370,870				370,870				376,445	(Note 1)
Net Revenues (billions of yen)			7,362.7				7,311.2				7,801.5				7,750.1				30,225.6				7,646.0				29,500.0
Geographic Information
Japan			3,865.4				4,012.3				4,259.8				4,487.7				16,625.3				4,178.5
North America			2,791.1				2,636.4				2,753.7				2,635.9				10,817.2				2,833.5
Europe			785.8				795.8				784.0				873.0				3,238.8				862.1
Asia			1,316.2				1,318.7				1,496.5				1,381.4				5,513.0				1,314.3
Other			598.4				608.3				592.8				533.7				2,333.4				550.0
Elimination			-1,994.4				-2,060.4				-2,085.5				-2,161.7				-8,302.2				-2,092.5
Business Segment
Automotive			6,633.4				6,514.8				7,018.4				6,912.2				27,079.0				6,880.9
Financial Services			516.8				534.4				552.4				549.8				2,153.5				547.7
All Other			358.0				412.3				391.2				514.6				1,676.3				370.6
Elimination			-145.6				-150.3				-160.6				-226.6				-683.3				-153.1
Operating Income (billions of yen)			682.6				579.1				676.1				529.5				2,467.5				741.9				2,400.0
(Operating Income Ratio) (%)			(9.3	)			(7.9	)			(8.7	)			(6.8	)			(8.2	)			(9.7	)			(8.1	)
Geographic Information
Japan			395.9				354.2				494.2				447.2				1,691.6				436.8
North America			63.5				47.4				18.1				-14.5				114.5				118.9
Europe			23.0				38.1				27.9				35.6				124.8				37.7
Asia			146.3				137.1				116.7				57.2				457.4				110.9
Other			43.2				22.7				19.1				5.9				91.1				22.8
Elimination			10.4				-20.5				-0.1				-1.9				-12.1				14.5
Business Segment
Automotive			602.5				462.2				581.3				392.7				2,038.8				621.4
Financial Services			73.5				81.4				82.6				85.1				322.8				108.2
All Other			11.4				29.3				13.9				50.7				105.5				13.7
Elimination			-4.8				6.1				-1.8				0.9				0.3				-1.4
Income before Income Taxes (billions of yen)			813.8				734.9				176.9				559.6				2,285.4				841.7				2,560.0
(Income before Income Taxes Ratio) (%)			(11.1	)			(10.1	)			(2.3	)			(7.2	)			(7.6	)			(11.0	)			(8.7	)
Equity in Earnings of Affiliated Companies (billions of yen)			116.5				106.0				32.2				105.2				360.0				109.5				400.0
Net Income (billions of yen)			657.3				585.0				180.9				459.5				1,882.8				682.9				2,150.0	(Note 2)
(Net Income Ratio) (%)			(8.9	)			(8.0	)			(2.3	)			(5.9	)			(6.2	)			(8.9	)			(7.3	)
Dividends
Common Shares
Cash Dividends (billions of yen)			—				286.9				—				339.8				626.8				—	(Note 3)
Cash Dividends per Share (yen)			—				100				—				120				220				—
Payout Ratio (%)			—				23.4				—				54.0				33.8				—
Model AA Class Shares
Cash Dividends (billions of yen)			—				4.9				—				4.9				9.9				—	(Note 3)
Cash Dividends per Share (yen)			—				105.5				—				105.5				211				—
Value of Shares Repurchased (billions of yen)[actual purchase]			129.1				170.8				151.7				98.1				549.9				54.2	(Note 4)
Value of Shares Repurchased (billions of yen)[shareholder return]			—				249.9				—				300.0 (maximum	)			549.9 (maximum	)			—	(Note 4)  (Note 5)
Number of Outstanding Common Shares (thousands)			3,262,997				3,262,997				3,262,997				3,262,997				3,262,997				3,262,997
Number of Outstanding Model AA Class Shares (thousands)			47,100				47,100				47,100				47,100				47,100				47,100

 

Supplemental 2