Toyota Industries Corporation Business Report FY ended Mar. 2020

Financial Overview

(IFRS, in millions of JPY)
  FY ended Mar. 31, 2020 FY ended Mar. 31, 2019 Rate of change (%) Factors
Sales 2,171,355 2,214,946 (2.0) -The unit sales of vehicles and engines increased, which resulted in higher sales and income in the automotive business. However, overall sales and income fell because of lower unit sales in the industrial-vehicle segment and because of the impact caused by negative currency translation.
Operating income 128,233 134,684 (4.8) -
Net income attributable to owners of the parent 150,187 159,778 (6.0) -
Automotive Division
Sales 613,886 610,721 0.5 Factors below
Operating income 17,290 6,827 - -

Factors (Automotive Business)

Vehicles Business
-Sales rose year-over-year because of increased sales of the redesigned RAV4, which began to be built in November 2018.

Engine Business
-Sales rose year-over-year because of increased sales of the redesigned A25A and the M20A gasoline engines.

Car Airconditioning Compressor Business
-Sales overall fell because of lower sales in North America, Europe and elsewhere, although sales in Japan increased.

Car Electronics Business/Stamped Die Business
-Sales were on par with those of the previous year because sales of cast products decreased while sales of electronic devices increased.


Forecast for fiscal year ending in March 2021

-The Company has not disclosed the forecast for its consolidated business results due to the impact of the coronavirus pandemic.


R&D Expenditure

 (in millions of JPY)
  FY ended Mar. 31, 2020 FY ended Mar. 31, 2019 FY ended Mar. 31, 2018
Overall 90,560 88,807 77,647
-Automobiles 38,949 37,987 39,414

-The automotive business is undertaking initiatives to develop Diesel engines and power compressors and power devices for vehicles that run on electric-powered motors such as hybrid vehicles, electric vehicles, and fuel-cell vehicles.


Product Developments

 -The Company announced that it will showcase its products and technologies under the themes of “compression technologies” and “utilization of electrified vehicle power” at the Tokyo Motor Show. In compression technologies, the company will exhibit an eco-friendly engine equipped with a turbo-charger which achieves both fuel efficiency and high power output. Also on display will be a compressor for car air conditioners and an oxygen supply air compressor for hydrogen fuel cell vehicles (FCV) that intakes, compresses, and delivers the air necessary for electric power generation. For the utilization of power from electrified vehicles, the company will introduce an AC inverter coupling which connects six electrified vehicles including hybrid vehicles (HVs) and plug-in hybrid vehicles (PHVs) to supply high electric power output to equipment such as elevators. In addition, the company will present other power utilization technologies, including products under development, such as an external power feed device (V2L: Vehicle-to-load) that utilizes high electric power supply capacity such as could be obtained from a fuel cell bus (FC bus). (From a press release on October 7, 2019)

>>>Link to Product Displays


Capital Expenditure

 (in millions of JPY)
  FY ended Mar. 31, 2020 FY ended Mar. 31, 2019 FY ended Mar. 31, 2018
Overall 255,015 218,154 216,048
-Automobiles 69,239 68,201 80,726



-The Company announced on October 10 that it will start production of its first electric compressors for car air-conditioning systems in China in early 2020. New production lines for electric compressors will be installed at the Toyota Industries’ Chinese subsidiaries, TD Automotive Compressor Kunshan Co., Ltd. (TACK, Kunshan, Jiangsu Province), and Yantai Shougang TD Automotive Compressor Co., Ltd. (YST, Yantai, Shandong Province). TACK will start production in March 2020, YST in June 2021, with an initial production capacity of about 400,000 units each. (From an article in the Nikkan Jidosha Shimbun on October 11, 2019)


Capital Investments in Facilities & Equipment (Automotive Business)

-The Company has not decided the amount of capital spending it will make for new facilities and equipment, depreciation expenses (asset retirements), etc. for the fiscal year ending in 2021 due to the impact of the coronavirus pandemic.