Toyota Industries Corporation Business Report FY ended Mar. 2019
Financial Overview |
(IFRS, in millions of JPY) |
| FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | Rate of change (%) | Factors | |
| Overall | ||||
| Sales | 2,214,946 | 2,003,973 | 10.5 | -Increased unit production of industrial vehicles, increased income generated from the value-chain framework, and expansion of logistics-solutions business |
| Operating income | 134,684 | 147,445 | (8.7) | -Costs of raw materials increased, etc. |
| Net income attributable to owners of the parent | 159,778 | 173,816 | (8.1) | - |
| Automotive Division | ||||
| Sales | 610,721 | 595,019 | 2.6 | Factors below |
| Operating income | 6,827 | 29,618 | (76.9) | - |
Factors (Automotive Business)
Body Business
-Revenue increased in line with the start of production of the new RAV4 in November 2018.
Engine Business
-While production of the AR gasoline engines ended in June 2018, revenue increased due to the launch of the new-type A25A and M20A gasoline engines and increased production of GD diesel engines.
Car Airconditioning Compressor Business
-Even though sales increased in developing countries such as China, they decreased in Europe and Japan, which resulted in lower revenue.
Recent Development in Japan
-In November 2018, the Company has held a ceremony to commemorate the start of production of Toyota Motor Corporation’s all-new RAV4 at its Nagakusa Plant (Aichi Prefecture). The plant has an annual production capacity of 279,000 units. It will produce the RAV4, starting with the U.S. market, then Japan and other regions. The Nagakusa Plant had been producing the Toyota Vitz until the end of September, and modified the production lines to produce the new RAV4. The Company, which started production of the RAV4 in 2001, has produced about 2.38 million units of the model. (From an article in the Nikkan Jidosha Shimbun on November 24, 2018)
Outlook for FY ending Mar. 2020 |
(IFRS, in millions of JPY) |
| FY ending Mar. 31, 2020 (Forecast) |
FY ended Mar. 31, 2019 (Actual Result) |
Rate of change(%) | |
| Sales | 2,300,000 | 2,214,946 | 3.8 |
| -Automotive Division | 629,000 | 610,721 | 3.0 |
| Ordinary income | 145,000 | 134,684 | 7.7 |
| Net income attributable to owners of the parent | 157,000 | 152,748 | 2.8 |
Outlook for FY ending Mar. 2020 of Automotive Products |
(IFRS, in millions of JPY) |
| FY ending Mar. 31, 2020 (Forecast) |
FY ended Mar. 31, 2019 (Actual Result) |
|
| Automotive Division | 629,000 | 610,721 |
| -Complete vehicles | 76,000 | 82,435 |
| -Engines | 130,000 | 108,463 |
| -Compressors | 350,000 | 346,211 |
| -Foundry parts, Electronic components | 73,000 | 73,610 |
>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)
R&D Expenditure |
(in millions of JPY) |
| FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | FY ended Mar. 31, 2017 | |
| Overall | 88,807 | 77,647 | 69,524 |
| -Automobiles | 37,987 | 39,414 | 44,757 |
-The automotive business developed electric or motor-driven compressors for electric power-driven vehicles such as diesel-engine vehicles, hybrids, electric vehicles, and fuel-cell vehicles; next-generation compressors for engine-mounted vehicles; and power-source devices for electric-power-driven vehicles.
Capital Expenditure |
(in millions of JPY) |
| FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | FY ended Mar. 31, 2017 | |
| Overall | 218,154 | 216,048 | 176,999 |
| -Automobiles | 68,201 | 80,726 | 46,661 |
Breakdown in Capital Expenditures (Automotive Division) |
(in millions of JPY) |
| Unit | FY ended Mar. 31, 2019 | FY ended Mar. 31, 2018 | FY ended Mar. 31, 2017 |
| The Company | 51,343 | 65,635 | 33,476 |
| Michigan Automotive Compressor, Inc. (Michigan, U.S.) |
- | - | 3,624 |
| Tokaiseiki Co., Ltd. (Shizuoka Pref., Japan) |
3,494 | - | 1,595 |
| TD Automotive Compressor Indonesia (Bekasi, Indonesia) |
- | - | 1,198 |
| Tokyu Co., Ltd. (Aichi Pref., Japan) |
- | - | 1,085 |
Investment in Japan
-The Company announced the completion of its new test facility equipped with a test driving course and evaluation equipment in Kameyama City, Mie Prefecture. It invested several JPY billions into the new facility, including land and buildings. It will establish a system for road testing on the test circuit, and utilize the new facility for the development of functional components, such as air conditioning compressors and fuel cell vehicle components. The new facility will start full-scale operations from 2019. On a total land area of about 660,000 square meters, the 1.6 km high-speed driving circuit allows for testing at speeds of up to 100 km/h, as well as equipment for multi-purpose evaluations and vehicle performance evaluation. Through the development of functional components for various powertrains, such as those found in hybrid and fuel cell vehicles, the Company aims to meet customer needs in a timely manner. (From an article in the Nikkan Jidosha Shimbun on November 10, 2018)
Planned Capital Investment (Automotive Business) |
(As of Mar. 31, 2019) |
| 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 | 16,701 | Sep. 2018 | Mar. 2020 |
| Takahama Plant (Aichi Pref., Japan) |
Facilities for manufacturing industrial equipment, materials handling systems | 5,300 | Apr. 2019 | Mar. 2020 |
| Nagakusa Plant (Aichi Pref., Japan) |
Facilities for manufacturing passenger vehicles | 5,000 | Apr. 2019 | Mar. 2020 |
| Kariya Plant (Aichi Pref., Japan) |
Facilities for manufacturing automobile air-conditioner compressors Facilities for manufacturing textile machinery |
4,064 | Mar. 2019 | Mar. 2020 |
| Obu Plant (Aichi Pref., Japan) |
Facilities for manufacturing compressor components used in automobile air-conditioners | 3,879 | Apr. 2019 | Mar. 2020 |
| Higashichita Plant (Aichi Pref., Japan) |
Facilities for manufacturing casting products used in engines Facilities for manufacturing diesel engines |
2,621 | Feb. 2019 | Mar. 2020 |
| Anjo Plant (Aichi Pref., Japan) |
Facilities for manufacturing in-vehicle electronic devices | 3,101 | Sep. 2018 | Mar. 2020 |
| Higashiura Plant (Aichi Pref., Japan) |
Facilities for manufacturing compressor components used in automobile air-conditioners | 1,487 | Apr. 2019 | Mar. 2020 |
| Kyowa Plant (Aichi Pref., Japan) |
Facilities for manufacturing in-vehicle electronic devices |
704 | Apr. 2019 | Mar. 2020 |
| Toyota Industrial Equipment Mfg., Inc. (Indiana, USA) |
Facilities for manufacturing industrial equipment, materials handling systems | 3,400 | Apr. 2019 | Mar. 2020 |