Toyota Industries Corporation Business Report FY ended Mar. 2013
Business Highlights
Financial Overview |
(in millions of JPY) |
FY ended Mar. 31, 2013 | FY ended Mar. 31, 2012 | Rate of change (%) | Factors | |
Overall | ||||
Sales | 1,615,244 | 1,543,352 | 4.7 | - |
Operating profit | 77,098 | 70,092 | 10.0 | - |
Ordinary profit | 86,836 | 80,866 | 7.4 | - |
Net profit | 53,119 | 58,594 | (9.3) | - |
Automotive Division | ||||
Sales | 858,671 | 803,176 | 6.9 | 1) |
Operating profit | 29,411 | 21,239 | 38.5 | - |
Automotive division performance by business
1)
-Results in Japan improved due to eco-car sales incentives and other factors. Outside Japan, the North American and Asian markets were particularly strong, with expansion seen in the overall global market.
Automobiles
-Higher production volume of the RAV4 was offset by lower production volume of the Vitz. As a result, operating revenue was 356.7 billion yen, a 1% year-on-year increase of 2.3 billion yen.
Engines
-Operating revenue, which was 216.7 billion yen, grew by 19.6 billion yen year-on-year for a 10% increase, thanks to greater sales of the KD diesel engine in particular.
Automotive air-conditioning compressors
-Operating revenue was 228.1 billion yen, resulting in a year-on-year increase of 21.6 billion yen (a 10% rise), as a result of greater sales of products in this sector both in and outside Japan.
Contracts
- The Company has developed a DC-DC converter for idling stop function and won the first order for it from an automaker. The supply will start in fiscal 2013. This component is designed to ensure stable operation of wipers, lamps, a car navigation system, etc., by preventing voltage drop when the fuel-saving system shuts down and restarts an engine. The automaker adopted the component for increased perfectibility of the idling stop system. Considering that electric parts for the idling stop system, and for hybrid cars, have a high growth potential, the company “intends to develop and introduce other components with functions to store or generate electric power as well.” This may allow the company to increase its sales of new products while expanding its product range. (From an article in the Nikkan Jidosha Shimbun on Mar. 8, 2013)>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)
Financial Overview for FY ended Mar. 31, 2014 |
(in millions of JPY) |
FY ending Mar. 31, 2014 (forecast) |
FY ended Mar. 31, 2013 | |
Sales | 1,900,000 | 1,615,244 |
-Automotive Division | 965,000 | 858,671 |
Operating income | 95,000 | 77,098 |
Ordinary income | 107,000 | 86,836 |
Net income | 65,000 | 53,119 |
Sales of Automotive Products |
(in millions of JPY) |
FY ending Mar. 31, 2014 (forecast) |
FY ended Mar. 31, 2013 | |
Complete vehicles | 420,000 | 356,700 |
Engines | 220,000 | 216,700 |
Compressors | 265,000 | 228,100 |
Foundry parts, Electronic components | 60,000 | 57,000 |
(Sales categorized based on customers' business lines)
R&D
R&D Expenditure |
(in millions of JPY) |
FY ended Mar. 31, 2013 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2011 | |
Overall | 39,057 | 32,070 | 27,788 |
Automobiles | 23,817 | 20,649 | 17,613 |
Product Development
-Under the aim of weight reduction, the Company conducted R&D activities on the following products:
- Plastic windows
- High efficiency, variable capacity compressors
- Electric compressors for hybrids and plug-in hybrids
- Electric charging stations for auxiliary supply sources and plug-in hybrids and EVs
Investment Activities
Capital Expenditure |
(in millions of JPY) |
FY ended Mar. 31, 2013 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2011 | |
Overall | 124,282 | 91,972 | 60,019 |
Automobiles | 63,005 | 36,732 | 20,993 |
Automotive air-conditioning compressors
-The Company announced on April 24 that it will construct a new automotive air-conditioning compressor plant in Indonesia in the spring of 2014. The new factory will be built as the second facility for its manufacturing subsidiary, P.T. TD Automotive Compressor Indonesia (TACI). The expansion will allow TACI to boost its yearly production capacity to 3 million units, almost double the current level. The total investment will be approximately 6.3 billion yen, and production is scheduled to begin in May 2014. TACI currently supplies its products to the ASEAN countries and India. It also plans to begin exports to Brazil by the end of fiscal 2013. While enhancing its production operations, Toyota Industries intends to make full use of the new facility as a base for exports to emerging countries in order to improve its competitiveness. (From an article in the Nikkan Jidosha Shimbun on Apr. 25, 2013)
Breakdown in Capital Expenditures by Major Automotive Division |
(in millions of JPY) |
Unit | FY ended Mar. 31, 2013 | FY ended Mar. 31, 2012 | FY ended Mar. 31, 2011 |
The Company | 19,101 | 17,076 | 13,851 |
Tokaiseiki Co., Ltd. | 1,356 | 1,631 | 1,667 |
Tokyu Co., Ltd. | 1,536 | N.A. | N.A. |
Izumi Machine MFG. Co., Ltd. | 1,086 | N.A. | N.A. |
Toyota Industry Automotive Parts (Kunshan) Co., Ltd. | N.A. | N.A. | N.A. |
Toyota Industry (Kunshan) Co., Ltd. | 1,048 | 1,598 | N.A. |
Toyota Industries Compressor Parts America | 10,292 | N.A. | N.A. |
Kirioskar Toyoda Textile Machinery Pvt. Ltd. | N.A. | 1,070 | N.A. |
TD Deutsche Klimakompressor GmbH | 9,211 | 1,219 | N.A. |
Michigan Automotive Compressor, Inc. | 9,737 | 6,205 | 1,036 |
TD Automotive Compressor Indonesia | 3,137 | 2,984 | N.A. |
TD Automotive Compressor Georgia, LLC | 4,614 | 2,377 | N.A. |
New Equipment Installations (Automotive Business) |
(As of Mar. 31, 2013) |
Company/ Plant (Location) |
Equipment to be installed | Planned amount of investment (millions of yen) | Project period | |
From | To | |||
Companies included in consolidated financial statements | ||||
Hekinan Plant (Aichi Pref., Japan) |
Facilities for manufacturing gasoline and diesel engines |
9,815 | Aug. 2012 | Mar. 2014 |
Kariya Plant (Aichi Pref., Japan) |
Facilities for manufacturing automobile air-conditioner compressors |
3,900 | Apr. 2013 | Mar. 2014 |
Higashichita Plant (Aichi Pref., Japan) |
Facilities for manufacturing casting products used in engines |
2,524 | Aug. 2012 | Mar. 2014 |
Obu Plant (Aichi Pref., Japan) |
Facilities for manufacturing compressor components used in automobile air-conditioners |
2,500 | Apr. 2013 | Mar. 2014 |
Higashiura Plant (Aichi Pref., Japan) |
Facilities for manufacturing compressor components used in automobile air-conditioners | 2,500 | Apr. 2013 | Mar. 2014 |
Kyowa Plant (Aichi Pref., Japan) |
Facilities for manufacturing in-vehicle electronic devices Facilities for manufacturing press dies |
2,486 | Jan. 2012 | Mar. 2014 |
Nagakusa Plant (Aichi Pref., Japan) |
Facilities for manufacturing passenger vehicles |
2,000 | Apr. 2013 | Mar. 2014 |
Anjo Plant (Aichi Pref., Japan) |
Facilities for manufacturing in-vehicle electronic devices | 1,800 | Apr. 2013 | Mar. 2014 |
Subsidiaries in Japan | ||||
Tokaiseiki Co., Ltd. (Shizuoka Pref., Japan) |
Facilities for manufacturing automotive components |
1,350 | Apr. 2013 | Mar. 2014 |
Subsidiaries outside Japan | ||||
Michigan Automotive Compressor, Inc. (Michigan, USA) |
Facilities for manufacturing compressor components used in automobile air-conditioners | 12,640 | Apr. 2013 | Mar. 2014 |
Toyota Industry Automotive Parts (Kunshan) Co., Ltd. | Facilities for manufacturing industrial vehicles Facilities for manufacturing casting products used in engines |
7,503 | Apr. 2013 | Mar. 2014 |
Toyota Industries Compressor Parts America, Co. (TICA) (Georgia, USA) |
Facilities for manufacturing compressor parts for automotive air conditioners. | 7,240 | Apr. 2013 | Mar. 2014 |
TD Automotive Compressor Indonesia (Bekashi, Indonesia) |
Facilities for manufacturing compressor components used in automobile air-conditioners | 4,560 | Apr. 2013 | Mar. 2014 |
TD Automotive Compressor Georgia, LLC (Georgia, USA) |
Facilities for manufacturing compressor components used in automobile air-conditioners | 2,480 | Apr. 2013 | Mar. 2014 |
TD Deutsche Klimakompressor GmbH (Sachsen, Germany) |
Facilities for manufacturing compressor components used in automobile air-conditioners | 2,430 | Apr. 2013 | Mar. 2014 |
Kirioskar Toyoda Textile Machinery Pvt. Ltd. (Bangalore, India) |
-Facilities for manufacturing automotive components |
2,281 | Apr. 2013 | Mar. 2014 |