Toyota Motor (TM) 6 Nov 202021 Q2 Earnings call transcript

Ladies and gentlemen, thank you very much for joining us despite your occupied schedules. We really appreciate your participation. We would like to start Fiscal Year 2021 Second Quarter Financial Performance Announcement of Toyota Motor Corporation. In order to directly convey to you the financial results, we have invited some stakeholders who are present here today, and this is distributed online to the media representatives.

First of all, let me introduce the participants from TMC side for the part one. Officer Affairs Officer; and Financial Officer Shirayanagi, Chief External for Corporate Kon, and Masayoshi Operating Chief Kenta Communications. Without further ado, Mr. to Kon, the going share the you is overview financial results. with of

I you joining Thank Kon. everyone. Hello, us today. am for Kenta

convey continued First to deepest virus. spread from and of those like been have suffering sympathy those been the our who and have affected would foremost, COVID-XX, we to who by the

heartfelt well appreciation who We our to customers also express would and world as like around us. dealers chose shareholders, our us, support as to stakeholders, the who our suppliers

financial Now, year I would results like for XXXX. March, first-half to fiscal discuss the Toyota's of the ending

First, units, the year. fiscal and of first-half such the which which the Lexus first-half at Toyota vehicle the sales brand of fiscal XX.X% were units, consolidated sales XX.X% year. consolidated of X,XXX,XXX sales for X,XXX,XXX for was first-half was of for previous was sales at ended previous September vehicle new the XXXX, the vehicle

year ¥XXX.X who and to of the Consolidated ¥XXX.X income sales for year-on-year. vehicles factors income our impacted the including the explain our world financial like first an billion. operating sales possible. of fiscal billion, Although that suppliers XX.X% measures for second to severe that of year. our of us, and gratitude vehicle XX% I were of of Vehicle outlets chose made would who quarter again, Once sales as that customers for fiscal our deliver the ¥XX,XXX.X amounted this we first-half to year. of countries effort to quarter when ¥XXX.X in of previous want net stakeholders billion, like many many have implemented sales operating impact of to pre-tax quarter customers was sincere of lockdown the which as of recovered the our the income the results the express previous to would and revenue around of billion all income

the of foreign rates decreased exchange by operating effects income First, ¥XXX billion.

by income billion. Second, cost ¥XX operating efforts reduction increased

effects largely due to COVID-XX. decreased spread of income by Third, sales by the marketing operating of the activities the in caused volume decrease ¥XXX billion,

Finally, a operating ¥XXX income by increased billion. reduction in expenses

excluding valuation losses foreign factors, ¥XXX impact of billion result gains income a the and decreased stock operating and rates, exchange As year-on-year. other overall by

although for each As in the operating income decrease due the decreased succeeded in operating securing volumes regions. by income We largely caused for all income region, regions, in year-on-year operating of all sales COVID-XX. in spread to

me as affiliates let business. and our well Next, services explain in method consolidated our China, equity financial as subsidiaries

income for by largely ¥XXX.X marketing China of thanks efforts. ¥XX.X to billion As operating business, to increased consolidated billion, subsidiaries year-on-year

to profit accounted investment marketing of equity billion, ¥XX.X thanks up to method ¥XX share of billion was Our by efforts. year-on-year largely

the ¥XXX.X stock services was year-on-year fiscal flat for and operating broadly financial income, losses billion. gains Regarding valuation excluding year

I would the was able shareholders. our the to although of the of our dividend including to automotive an ordinary report to to industry we make of this a per interim were the fiscal ¥XXX with like our these due whole share. this Considering for return period, a to support first-half year a stakeholders, Next, downturn common factors explain interim profit plan we in shareholders. as COVID-XX, spread In of

common for add ¥XXX to support like to addition, thank dividend per decided for special have of In share. a a we would total shareholders their ¥X continuous and our of

decided common to a repurchases, not repurchase return. As stock of for we share as shareholder interim form have our

transformation the COVID-XX for continued in the to trying for spread be future, the Although we sow committed and our of an investment profitability growth of impact remain unpredictable, efforts to for to SDGs. accelerating continues remains actions our through seeds

have breakdown regards to Regional million XXX,XXX as increased the units year our sales our ending sales, Now, from we X.X time by March forecasts discuss full the consolidated for units. let to With outlook to is the results us move in XXXX. first stated fiscal vehicle of on presentation. quarter our the

sales sales, for and from by will time increase our As anticipate vehicle brand to results of forecast X.X XXX,XXX that units. Toyota units compared Lexus the vehicle to our we QX million

Regarding the and and January to we brand XXX% Lexus vehicle will sales recovery sales, to of XXX% recover approximately in year levels, October in XXXX. anticipate to previous March Toyota December, that namely approximately

consolidated October year dollar onwards which makes and and explain yen consolidated adopted per year ¥XXX Next, dollar this, our yen assumptions rate Based billion euro. full ¥XX of me income ¥X,XXX pre-tax year of financial per operating and ¥XXX net income the performance. the yen, is yen are, ¥XXX ¥X,XXX full per of forecast full of billion, performance let of We've euro, for Forex on ¥XXX financial billion. income per for trillion sales assumptions revenue ¥X,XXX

year. Please ¥X,XXX be the the the Operating year. expected that Now year. this now of income stated beginning impact is at from to XX, for year the with previous fiscal to will I'd fiscal the the at of in forecast as to like income ¥XXX billion, forecasts income billion Slide which detailed the the presentation. the operating previous forecast result see is the analysis compares fiscal of The beginning explain latest operating factors year-on-year fiscal our the up comparing

us financial third risk future, has profit, financial sites into a just a year my Although, second-half able presentation. environment to and the efforts and sow with accelerating and we reduction and outlets, seeds uncertain this all of together steadily concludes report a highly first-half for for while all transformation you attention. wave making of our continuously committed we and surrounding cost company. of COVID-XX. mobility your remain at the the a second continuing levels In the to to considering including This of our stakeholders, remains year, were Thank this sales efforts completed, to and efforts manufacturing at the

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