fy2021 third quarter financial results

11

F e b r u a r y 1 0 , 2 0 2 1

FY2021 Third Quarter

To y o t a M o t o r C o r p o r a t i o n

MIRAI

Financial Results

22

Cautionary Statement with Respect to Forward-Looking Statements andCaution concerning Insider Trading

This presentation 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 as well as the outbreak and spread of epidemics, 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.

Caution concerning Insider Trading

Under Japanese securities laws and regulations (the "Regulations"), subject to certain exceptions, any person who receives certain material information relating to the business, etc. of Toyota

which may be contained in this document is prohibited from trading in Toyota's shares or certain other transactions related to such shares (as set forth in the Regulations) until such material

information is deemed to be made public. Under the Regulations, material information is deemed to be made public when (i) such material information is notified to a stock exchange and is

disclosed by ways of electromagnetic means as prescribed by the ordinance of the Cabinet Office (posting on the TDnet (Timely Disclosure Network) information service ) or (ii) twelve (12)

hours have elapsed since a listed company, such as Toyota, disclosed such material information to at least two (2) media sources as prescribed by the Regulations.

33

FY2021 Third Quarter Financial Performance

Toyota Motor Corporation voluntarily adopted International Financial Reporting Standards (IFRS)

from the first quarter of the fiscal year ending March 2021. Therefore, the contents from the next page are described based on IFRS.

44

Total retail vehicle sales 8,140 7,211 88.6％

Toyota and Lexus vehicle sales 7,401 6,627 89.5％

Consolidated Vehicle Sales (FY2021 9 months)

1,056 715

1,255 848

778

679

2,114

1,683

1,656

1,513

0

2,000

4,000

6,000

8,000

67.7％

67.6％

87.4％

79.6％

91.3％

79.3％

6,858

5,438

(thousands of vehicles)

Central and South America,Oceania,Africa,The Middle East, etc.

Japan

N. America

Europe

Asia

Other

8,000

6,000

4,000

2,000

0FY2020 9 months

(’19/4-12)Year on YearFY2021 9 months

(’20/4-12)<Reference>

55

(Year on Year :％)

105

111

77

37

45

87

69

76 7885

93 92

0

20

40

60

80

100

120

140

1 2 3 4 5 6 7 8 9 10 11 12

Japan

99

111

87

16

49

88

114107

115105

98

127

0

20

40

60

80

100

120

140

1 2 3 4 5 6 7 8 9 10 11 12

104112

63

44

71 7482

79

113107

97

117

0

20

40

60

80

100

120

140

1 2 3 4 5 6 7 8 9 10 11 12

95 93 96

80

6777

8389

92

137

112

111

0

20

40

60

80

100

120

140

1 2 3 4 5 6 7 8 9 10 11 12

99

30

84

100

120

123

119127

125

133

117

117

0

20

40

60

80

100

120

140

1 2 3 4 5 6 7 8 9 10 11 12

86

99

55

33

40

5969

74 7884

93 97

0

20

40

60

80

100

120

140

1 2 3 4 5 6 7 8 9 10 11 12

99 96

76

54

68

8488 89

102108

102

110

0

20

40

60

80

100

120

140

1 2 3 4 5 6 7 8 9 10 11 12

N. America Europe

Asia (excluding China) China Other

Global

（month）

（%）

CY2020

CY2020 CY2020 CY2020

（%）（%）（%）

（%）（%）（%）

CY2020 CY2020 CY2020

Transition of Toyota and Lexus Vehicle Sales

（month）（month）（month）

（month）（month）（month）

66

Consolidated Financial Summary (FY2021 9 months)

(billions of yen)

FY2021 9 months(’20/4-12)

FY2020 9 months(’19/4-12)

Change

Sales Revenues 19,525.2 22,967.2 -3,441.9

Operating Income 1,507.9 2,039.3 -531.3

Margin 7.7％ 8.9%

Other Income 362.0 354.4 +7.6Share of Profit (Loss) of Investments

Accounted for Using the Equity Method201.4 275.7 -74.2

Income before Income Taxes 1,869.9 2,393.7 -523.7

Net Income Attributable to

Toyota Motor Corporation1,468.0 1,708.8 -240.7

Margin 7.5％ 7.4％

FOREX RatesUS$ 106 yen 109 yen -3 yen

€ 122 yen 121 yen +1 yen

*1 Regarding Japan: 87.1 (-78.2 billion yen year on year), China: 113.9 (+25.0), Other: 0.4 (-21.0)

*1

77

2,039.3

1,507.9

+100.0

+85.0 +73.7

-175.0

'19/4-12 '20/4-12

-615.0

*1.Details *2.Details *3.Details *4.Details

Transactional(Imports/Exports) -180.0 Volume, Model Mix -885.0 Labor Costs -5.0 Valuation Gains/Losses

US$ -90.0 Financial Services +60.0 Depreciation -40.0 from Swaps,etc.

€ +10.0 Other +20.0 Other +210.0 R&D Expenses +40.0

Other -100.0 Expenses, etc. +90.0

Translational FOREX impact concerning

overseas subsidiaries-15.0 +73.7

Analysis of Consolidated Operating Income (FY2021 9 months)(billions of yen) -430.0

Excluding the overall impact of foreign exchange

rates and swap valuation gains/losses, etc.

Cost

Reduction

Efforts

Increase or Decrease in

Expenses and Expense

Reduction Efforts *3

Other *4

Effects of

FOREX

Rates *1

Effects of

Marketing

Activities *2

Operating Income (-531.3)109 yen/US$

121 yen/€

106 yen/US$

122 yen/€

(Translational FOREX impact of fiscal year-end balance of

provisions in foreign currencies, etc.)

Transition of each quarter (billions of yen)‘20/4-6 ： -725.0

‘20/7-9 ： -80.0

‘20/10-12 ：+375.0

88

1,656 1,513

2,114

1,683

1,231.1

320.6115.8

315.3 69.2

781.7

270.567.5

298.3 49.7

1,255

848

［9.9％］

［4.5％］［4.2％］［3.8％］［3.1％］

［7.3％］

Japan N. America Europe Asia Other

'19/4-12 '20/4-12

-449.3

-50.1

-48.2

-15.1

-19.4

1,229.8 780.8 323.9 331.7 119.5 62.6 301.3 291.6 69.8 43.3

(91.3%)

(79.6%)

(87.4%) (67.7%)

(67.6%)

'19/4-12 '20/4-12 '19/4-12 '20/4-12 '19/4-12 '20/4-12 '19/4-12 '20/4-12

［8.3％］［7.5％］［3.9％］［3.9％］

1,056

715 778 679

Geographic Operating Income (FY2021 9 months)

Operating Income (billions of yen) (Excluding Valuation Gains/Losses from Interest Rate Swaps, etc.) [ ] margin Consolidated Vehicle Sales (thousands of vehicles)

Operating Income including Valuation Gains/Losses from Interest Rate Swaps, etc. (billions of yen)

99

88.9113.9

102.2

178.0

298.9 397.6

'19/4-12 '20/4-12 '19/4-12 '20/4-12

1,273 1,527 (119.9％)

304.6

355.3

China Business / Financial Services (FY2021 9 months)

(Reference) China Business Financial Services Operating Income

Operating Income of Subsidiaries (billions of yen)

Share of Profit of Investments Accounted for Using the Equity

Method of Affiliated Companies (billions of yen)

Operating Income (billions of yen)

Excluding Valuation Gains/Losses from Interest Rate Swaps, etc. ＊

Retail sales(thousands

of vehicles)

OperatingIncome

Share of Profit of

Investments

Accounted for

Using the Equity

Method

+75.8

+25.0

Marketing Efforts, etc.

Marketing Efforts, etc.

+50.6Decrease in Residual

Losses, etc.

Operating Income including Valuation Gains / Losses from Interest Rate Swaps, etc. (billions of yen)

1010

FY2021 Financial Forecasts

1111

1,010 990 1,372

1,190 1,240 1,600

930 970 1,029

2,330 2,300

2,713

2,040 2,100

2,240

0

2,000

4,000

6,000

8,000

10,000

（thousands of vehicles）

7,500 7,600 +100

+60

+50

-20

-30

+40

8,955

FY2021 Forecasts: Consolidated Vehicle Sales

10,000

8,000

6,000

4,000

2,000

0

Japan

N. America

Europe

Asia

OtherCentral and South America,Oceania,Africa,The Middle East, etc.

Previous Forecasts(’20/4-’21/3)

ChangeNew Forecasts

(’20/4-’21/3)

FY2020 Results

(’19/4-’20/3)

<Reference>

Total retail vehicle sales 9,420 9,730 +310 10,457

Toyota and Lexus vehicle sales 8,600 8,900 +300 9,466

1212

FY2021 Forecasts: Consolidated Financial Summary

（billions of yen）

*1 FOREX Rate performance: 106 yen against the U.S. dollar and 122 yen against the Euro from April 2020 to December 2020

FOREX Rate assumptions: 100 yen against the U.S. dollar and 125 yen against the Euro from January 2021 to March 2021

New Forecasts(’20/4-’21/3)

Previous Forecasts(’20/4-’21/3) Change

FY2020 Results(’19/4-’20/3)

Sales Revenues 26,500.0 26,000.0 +500.0 29,866.5

Operating Income 2,000.0 1,300.0 +700.0 2,399.2

Margin 7.5％ 5.0％ 8.0％

Other Income 550.0 460.0 +90.0 393.7Share of Profit (Loss) of Investments

Accounted for Using the Equity Method 320.0 240.0 +80.0 310.2

Income before Income Taxes 2,550.0 1,760.0 +790.0 2,792.9


Toyota Motor Corporation

1,900.0 1,420.0 +480.0 2,036.1

Margin 7.2％ 5.5％ 6.8％

FOREX RatesUS$＊1 105 yen 106 yen -1 yen 109 yen

€＊1123 yen 121 yen +2 yen 121 yen

1313

1,300.0

2,000.0

+10.0 +30.0

+505.0+140.0 +15.0

FY2021 Previous Forecasts FY2021 New Forecasts

Analysis of FY2021 Forecasts: Consolidated Operating Income

(vs. Previous Forecasts)


+675.0Excluding the overall impact of foreign exchange


Effects of

FOREX

Rates*1

Cost

Reduction

Efforts

Marketing

Efforts *2

Increase or Decrease

In Expenses and

Expense Reduction

Efforts *3

Other *4

106 yen/US$

121 yen/€105 yen/US$

123 yen/€Operating Income (+700.0)


Transactional(Imports/Exports) -10.0 Volume, Model Mix +200.0 Labor Costs +5.0 Valuation Gains/Losses

US$ -55.0 Financial Services +100.0 Depreciation +10.0 from Swaps,etc.

€ +15.0 Other +30.0 Other +205.0 R&D Expenses ±0

Other +30.0 Expenses, etc. +125.0





1414

2,399.2

2,000.0

-255.0 +185.0 -475.0

+100.0 +45.8

FY2020 Results FY2021 New Forecasts

Analysis of FY2021 Forecasts: Consolidated Operating Income

(vs. FY2020 Results)（billions of yen）

109 yen/US$

121 yen/€

105 yen/US$

123 yen/€Operating Income (-399.2)

Cost

Reduction

Efforts Increase or Decrease in

Expenses and Expense

Reduction Efforts *3

Other *4

Effects of

FOREX

Rates *1 Effects of

Marketing

Activities *2


Transactional(Imports/Exports) -285.0 Volume, Model Mix -840.0 Labor Costs +5.0 Valuation Gains/Losses


€ +15.0 Other +40.0 Other +235.0 R&D Expenses ±0

Other -125.0 Expenses, etc. +115.0





-190.0Excluding the overall impact of foreign exchange


1515

360 331

409 392

248 285

668 753

516 592

0

500

1,000

1,500

2,000

2,500

Total retail vehicle sales 2,685 2,845 106.0％

Toyota and Lexus vehicle sales 2,450 2,616 106.8％

2,2012,353

114.7％

95.9％

91.9％

112.7％

114.8％

106.9％

(Reference) Consolidated Vehicle Sales (FY2021 3Q)

2,500

2,000

1,500

1,000

500

0


Japan

N. America

Europe

Asia

OtherCentral and South America,Oceania,Africa,The Middle East, etc.

FY2020 3Q

(’19/10-12)

Year on YearFY2021 3Q(’20/10-12)<Reference>

1616

(Reference) Consolidated Financial Summary (FY2021 3Q)


*1 Regarding Japan: 90.4 (+48.6 billion yen year on year), China: 34.8 (+9.4), Other: -0.2 (-8.8)

FY2021 3Q(’20/10-12)

FY2020 3Q(’19/10-12)

Change

Sales Revenues 8,150.0 7,608.9 +541.1

Operating Income 987.9 640.0 +347.8

Margin 12.1％ 8.4%

Other Income 153.2 131.8 +21.3Share of Profit (Loss) of Investments

Accounted for Using the Equity Method 125.0 75.8 +49.2

Income before Income Taxes 1,141.1 771.9 +369.2


Toyota Motor Corporation838.6 559.2 +279.3

Margin 10.3％ 7.4％

FOREX RatesUS$ 105 yen 109 yen -4 yen

€ 125 yen 120 yen +5 yen

*1

1717

'19/10-12 '20/10-12

987.9

-55.0

-30.0 +27.8

640.0 +50.0

+355.0

(Reference) Analysis of Consolidated Operating Income (FY2021 3Q)

（billions of yen）+375.0

Excluding the overall impact of foreign exchange


Effects of

FOREX

Rates*1

Cost

Reduction

Efforts

Marketing

Efforts *2

Increase or Decrease

In Expenses and

Expense Reduction

Efforts *3

Other *4

109 yen/US$

120 yen/€

105 yen/US$

125 yen/€

Operating Income (+347.8)


Transactional(Imports/Exports) -75.0 Volume, Model Mix +200.0 Labor Costs ±0 Valuation Gains/Losses


€ +10.0 Other +30.0 Other +100.0 R&D Expenses +20.0

Other -30.0 Expenses, etc. -40.0





1818

404.6

108.1 46.484.8

25.5

538.7

199.5 54.9155.6

37.6

248 285

668 753

409 392

［10.0％］

［5.4％］［4.6％］［6.2％］［6.1％］

［12.3％］

Japan N. America Europe Asia Other

+91.4

+8.5+70.7

+12.1

(114.7%)

(112.7%)

(114.8%) (91.9%)(95.9%)

［10.1％］［6.1％］

［6.8％］［4.0％］

'19/10-12 '20/10-12 '19/10-12 '20/10-12 '19/10-12 '20/10-12 '19/10-12 '20/10-12 '19/10-12 '20/10-12

403.0 538.5 94.9 212.9 45.7 52.9 81.7 155.3 23.9 34.9

(Reference) Geographic Operating Income (FY2021 3Q)

Operating Income (billions of yen) (Excluding Valuation Gains/Losses from Interest Rate Swaps, etc.) [ ] margin Consolidated Vehicle Sales (thousands of vehicles)

516 592

360 331

Operating Income including Valuation Gains/Losses from Interest Rate Swaps, etc. (billions of yen)

+134.0

1919

25.4 34.8

23.9

65.5

71.9 152.3

'19/10-12 '20/10-12 '19/10-12 '20/10-12

439535 (121.8％)

92.0

144.1

(Reference) China Business / Financial Services (FY2021 3Q)

(Reference) China Business Financial Services Operating Income

Operating Income (billions of yen)

Excluding Valuation Gains/Losses from Interest Rate Swaps, etc. ＊

Retail sales(thousands

of vehicles)

OperatingIncome

Share of Profit of

Investments

Accounted for Using

the Equity Method

Operating Income including Valuation Gains / Losses from Interest Rate Swaps, etc. (billions of yen)

+41.5

+9.4

+52.0

Operating Income of Subsidiaries (billions of yen)

Share of Profit of Investments Accounted for Using the Equity

Method of Affiliated Companies (billions of yen)

2020

632.4650.1

636.7610.8

17.3 18.3 19.3 20.3

7,763.08.025.9

7,936.66,901.0

7,578.2

17.3 18.3 19.3 20.3 20.12

210

220 220 220

*4

8,971 8,964 8,977 8,955

7,600

17.3 18.3 19.3 20.3 21.3

27.5

29.3 30.2

29.8

26.5

17.3 18.3 19.3 20.3 21.3

3.83.6 3.5

3.7

4.2

7.2

8.2 8.2 8.0 7.5

6.6

8.5

6.26.8

7.2

1,831.1

2,493.9

1,882.82,036.1

1,900.0

17.3 18.3 19.3 20.3 21.3

1,994.3

2,399.8 2,467.5 2,399.2

2,000.0

17.3 18.3 19.3 20.3 21.3

1,037.5 1,064.2 1,048.81,110.3 1,100.0

17.3 18.3 19.3 20.3 21.3

(Reference) Transition of Financial Performance’17/3 – ’19/3：US GAAP

’20/3 – ’21/3：IFRS

(thousands of vehicles)

Consolidated Vehicle Sales (trillions of yen)Sales Revenues (billions of yen)Operating Income

Net Margin(%)

Net Income Attributable toToyota Motor Corporation

Operating Margin(%) (billions of yen)

1,211.8

1,302.7

1,465.81,372.3 1,350.0

17.3 18.3 19.3 20.3 21.3

893.2

964.4 984.8

803.3

870.0

Forecast

Share

Repurchase

Dividend

Interest-

Bearing

Debt

Net Liquid

Assets

Dividend per Share (yen)

Total Liquid Assets*1 Total Shareholder Return*2

(billions of yen) Ratio to Sales Revenues (%) Depreciation Expenses

(billions of yen) (billions of yen)R&D Expenses*3 Capital Expenditures

*1 Cash and cash equivalents, time deposits, public and corporate bonds and its investment in monetary trust funds, excluding in each case those relating to financial services

*3 R&D activity related expenditures incurred during the reporting period *4 Change in depreciation method from ’20/3

*2 Including dividends on first series Model AA class shares (Excluding dividends on first series Model AA class shares from fiscal year ending March 2020 as a result of applying IFRS)

9,199.5 9,372.1 9,454.48,602.6

10,621.2

1,082.41,200.0 1,186.7

8,10.8

(billions of yen)

2121

(Reference) FY2021 Forecasts: Vehicle Production and Retail Sales


*1 Including vehicle production by Toyota’s non-consolidated affiliates

*2 Including vehicle sales by Toyota’s non-consolidated affiliates

To

yo

ta &

Le

xu

s

Vehicle

Production

*1

Japan 2,940 2,900 +40 3,304

Overseas 5,310 5,350 -40 5,437

Total 8,250 8,250 ±0 8,741

Retail

Vehicle

Sales

*2

Japan 1,520 1,450 +70 1,587

Overseas 7,380 7,150 +230 7,879

Total 8,900 8,600 +300 9,466

Total Retail Vehicle Sales*2

(Including Daihatsu- & Hino- brand)

New Forecasts

′20/4- ′21/3

Previous Forecasts

′20/4- ′21/3

Change FY2020 Results

′19/4- ′20/3

9,730 9,420 +310 10,457

2222

(Reference) Definitions of Consolidated and Retail Vehicle Sales

Daihatsu- and Hino- brand vehicles

Number of vehicles produced for wholesale by Toyota Motor Corporation and its consolidated subsidiaries

Number of vehicles produced for wholesale

by Toyota’s non-consolidated affiliates (e.g. JV affiliates in China, etc.)

*There are a limited number of exceptional cases where sales are made

other than in accordance with the flowchart above.

P4,8,11,15,

18,20

Co

nso

lidated

Veh

icle Sales

Distrib

uto

rs or D

ealers ou

tside co

nso

lidatio

n

P4,5,9,11,

15,19,21

P4,11,15,

21(in bottom part)

Toyo

ta and

Lexu

s Veh

icle Sales

Total R

etail Veh

icle Sales

Cu

stom

ers

fy2021 third quarter financial results

Documents