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Form 6-K TOYOTA MOTOR CORP/ For: Nov 08

November 8, 2016 6:10 AM EST

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

For the month of November, 2016

Commission File Number 001-14948

 

 

Toyota Motor Corporation

(Translation of Registrant’s Name Into English)

 

 

1, Toyota-cho, Toyota City,

Aichi Prefecture 471-8571,

Japan

(Address of Principal Executive Offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F      X        Form 40-F             

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):             

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):             

 

 

 


Material Contained in this Report:

 

I.

English translations of the original Japanese-language documents, as filed with the Tokyo Stock Exchange on November 8, 2016, with respect to the registrant’s results of operations for the second quarter of FY2017, ended September 30, 2016.

 

 

(1)

FY2017 Second Quarter Financial Summary

 

 

(2)

Supplemental Material for Financial Results for FY2017 Second Quarter (Consolidated)

 

 

(3)

Supplemental Material for Financial Results for FY2017 Second Quarter (Unconsolidated)

 

II.

English translation of the Notice Concerning Distribution of Interim Dividends from Surplus, as filed by the registrant with the Tokyo Stock Exchange on November 8, 2016.

 

III.

English translation of the Notice Concerning the Determination of Matters Relating to the Repurchase of Shares of Common Stock, as filed by the registrant with the Tokyo Stock Exchange on November 8, 2016.

 

IV.

English translation of the Notice Concerning the Cancellation of Shares of Common Stock, as filed by the registrant with the Tokyo Stock Exchange on November 8, 2016.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Toyota Motor Corporation

By:

 

    /s/    Yasushi Kyoda

 

Name:

 

Yasushi Kyoda

 

Title:

 

General Manager of
Accounting Division

Date: November 8, 2016

Table of Contents

FINANCIAL SUMMARY

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

FY2017 Second Quarter

(April 1, 2016 through September 30, 2016)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION


Table of Contents

FY2017 Second Quarter Consolidated Financial Results

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

English translation from the original Japanese-language document

November 8, 2016

 

Company name

   : Toyota Motor Corporation

Stock exchanges on which the shares are listed

  

: Tokyo, Nagoya, Sapporo and Fukuoka Stock

  Exchanges in Japan

Code number

   : 7203

URL

   : http://www.toyota.co.jp

Representative

   : Akio Toyoda, President

Contact person

  

: Yasushi Kyoda, General Manager, Accounting Division

  Tel. (0565)28-2121

Filing date of quarterly securities report

   : November 11, 2016

Payment date of cash dividends

   : November 29, 2016

Supplemental materials prepared for quarterly financial results

   : yes

Earnings announcement for quarterly financial results

   : yes

(Amounts are rounded to the nearest million yen)

 

1. Consolidated Results for FY2017 First Half (April 1, 2016 through September 30, 2016)

 

(1) Consolidated financial results (For the six months ended September 30)

 

     (% of change from previous first half)  
     Net revenues      Operating income      Income before income taxes
and equity in earnings of
affiliated companies
     Net income attributable to
Toyota Motor Corporation
 
     Million yen          %      Million yen          %      Million yen          %      Million yen          %  

FY2017 first half

     13,070,533         -7.2         1,116,865         -29.5         1,176,534         -29.8         946,173         -24.8   

FY2016 first half

     14,091,488         8.9         1,583,405         17.1         1,675,151         11.0         1,258,112         11.6   

 

(Note) Comprehensive income: FY2017 first half 242,981 million yen (-73.7 %), FY2016 first half 925,033 million yen (-40.3 %)

 

     Net income attributable to
Toyota Motor Corporation
per common share – Basic
     Net income attributable to
Toyota Motor Corporation
per common share  – Diluted
 
     Yen      Yen  

FY2017 first half

     311.08         307.84   

FY2016 first half

     399.39         397.75   

 

(2) Consolidated financial position

 

     Total assets      Mezzanine equity and
Shareholders’ equity
     Toyota Motor Corporation
shareholders’ equity
     Ratio of
Toyota Motor Corporation
shareholders’ equity
 
     Million yen      Million yen      Million yen      %  

FY2017 second quarter

     43,776,105         17,442,264         16,391,908         37.4   

FY2016

     47,427,597         18,088,186         16,746,935         35.3   

 

2. Cash Dividends

 

     Annual cash dividends per common share  
     End of first
quarter
     End of second
quarter
     End of third
quarter
     Year-end      Total  
     Yen      Yen      Yen      Yen      Yen  

FY2016

             100.00                 110.00         210.00   

FY2017

             100.00            

FY2017 (forecast)

                             

 

(Note)  

Revisions to the forecast of cash dividends since the latest announcement: none

 

Please refer to “(Reference) Cash Dividends on Class Shares” for information regarding cash dividends on class shares, which are unlisted and have different rights from common stock.

 

3. Forecast of Consolidated Results for FY2017 (April 1, 2016 through March 31, 2017)

 

     (% of change from FY2016)  
     Net revenues      Operating income      Income before income taxes
and equity in earnings of
affiliated companies
     Net income attributable to
Toyota Motor Corporation
     Net income attributable to
Toyota Motor Corporation
per common share – Basic
 
     Million yen          %      Million yen          %      Million yen          %      Million yen          %      Yen  

Full-year

     26,000,000         -8.5         1,700,000         -40.4         1,900,000         -36.3         1,550,000         -33.0         512.77   

 

(Note) Revisions to the forecast of consolidated results since the latest announcement: yes


Table of Contents

Notes

 

(1) Changes in significant subsidiaries during the current quarter

(Changes in specified subsidiaries that caused a change in the scope of consolidation): none

 

(2) Simplified accounting procedures and specific accounting procedures: yes

Note: For more details, please see page 5 “Other Information”.

 

(3) Changes in accounting policies

 

  (i) Changes by a newly issued accounting pronouncement: yes

 

  (ii) Changes other than (3)-(i) above: yes

Note: For more details, please see page 5 “Other Information”.

 

(4) Number of shares issued and outstanding (common stock)

 

  (i) Number of shares issued and outstanding at the end of each period (including treasury stock):
     FY2017 second quarter 3,337,997,492 shares, FY2016 3,337,997,492 shares

 

  (ii) Number of treasury stock at the end of each period: FY2017 second quarter 334,684,022 shares,
     FY2016 300,321,622 shares

 

  (iii) Average number of shares issued and outstanding in each period: FY2017 first half 3,025,875,694 shares,
     FY2016 first half 3,143,911,710 shares

Information Regarding the Quarterly Review Procedures

At the time of disclosure of this report, the procedures for review of quarterly consolidated financial statements, pursuant to the “Financial Instruments and Exchange Act” of Japan, have not been completed.

Cautionary Statement with Respect to Forward-Looking Statements, and Other Information

This report 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, 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 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.

This report contains summarized and condensed financial information prepared in accordance with U.S. generally accepted accounting principles.

(Reference) Cash Dividends on Class Shares

Cash dividends on class shares, which have different rights from common stock, are as follows:

 

     Annual cash dividends per First Series Model AA Class Share  
     End of first
quarter
     End of second
quarter
     End of third
quarter
     Year-end      Total  
     Yen      Yen      Yen      Yen      Yen  

FY2016

             26.00                 26.00         52.00   

FY2017

             52.50            

FY2017 (forecast)

                             

 

(Note) The First Series Model AA Class Shares were issued in July 2015.


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

TABLE OF CONTENTS

 

1.   Information Concerning Consolidated Financial Results for FY2017 First Half

     2   

(1) Financial Results

     2   

(2) Segment Operating Results

     2   

(3) Geographic Information

     3   

2.   Information Concerning Forecast of Consolidated Financial Results for FY2017

     4   

3.  Other Information

     5   

(1) Changes in significant subsidiaries during the current period

     5   

(2) Simplified accounting procedures and accounting procedures specific to quarterly consolidated financial statements

     5   

(3) Changes in accounting principles, procedures, and disclosures for consolidated financial statements

     5   

4.  Consolidated Production and Sales

     6   

(1) Production

     6   

(2) Sales (by destination)

     6   

5.  Consolidated Financial Statements

     7   

(1) Consolidated Balance Sheets

     7   

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

     9   

(3) Consolidated Statements of Cash Flows

     13   

(4) Going Concern Assumption

     14   

(5) Segment Information

     14   

(6) Significant Changes in Shareholders’ Equity

     16   

 

1


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

1. Information Concerning Consolidated Financial Results for FY2017 First Half

 

(1) Financial Results

Consolidated vehicle unit sales in Japan and overseas increased by 85 thousand units, or 2.0%, to 4,363 thousand units in FY2017 first half (the six months ended September 30, 2016) compared with FY2016 first half (the six months ended September 30, 2015). Vehicle unit sales in Japan increased by 94 thousand units, or 9.6%, to 1,078 thousand units in FY2017 first half compared with FY2016 first half. Meanwhile, overseas vehicle unit sales decreased by 9 thousand units, or 0.3%, to 3,285 thousand units in FY2017 first half compared with FY2016 first half.

As for the results of operations, net revenues decreased by 1,020.9 billion yen, or 7.2%, to 13,070.5 billion yen in FY2017 first half compared with FY2016 first half, and operating income decreased by 466.5 billion yen, or 29.5%, to 1,116.8 billion yen in FY2017 first half compared with FY2016 first half. The factors contributing to an increase in operating income were cost reduction efforts of 220.0 billion yen and marketing efforts of 205.0 billion yen. On the other hand, the factors contributing to a decrease in operating income were the effects of changes in exchange rates of 565.0 billion yen, the increase in expenses and others of 225.0 billion yen, and other factors of 101.5 billion yen. Income before income taxes and equity in earnings of affiliated companies decreased by 498.6 billion yen, or 29.8%, to 1,176.5 billion yen in FY2017 first half compared with FY2016 first half. Net income attributable to Toyota Motor Corporation decreased by 311.9 billion yen, or 24.8%, to 946.1 billion yen in FY2017 first half compared with FY2016 first half.

(2) Segment Operating Results

(i) Automotive:

Net revenues for the automotive operations decreased by 944.9 billion yen, or 7.3%, to 11,938.0 billion yen in FY2017 first half compared with FY2016 first half, and operating income decreased by 453.9 billion yen, or 32.6%, to 937.3 billion yen in FY2017 first half compared with FY2016 first half. The decrease in operating income was mainly due to the effects of changes in exchange rates and the increase in expenses and others.

(ii) Financial services:

Net revenues for the financial services operations decreased by 79.0 billion yen, or 8.3%, to 870.9 billion yen in FY2017 first half compared with FY2016 first half, and operating income decreased by 13.6 billion yen, or 8.2%, to 152.1 billion yen in FY2017 first half compared with FY2016 first half. The decrease in operating income was mainly due to the increase in expenses related to credit losses and residual value losses in sales finance subsidiaries.

(iii) All other:

Net revenues for all other businesses decreased by 18.6 billion yen, or 3.4%, to 532.8 billion yen in FY2017 first half compared with FY2016 first half, and operating income was 27.2 billion yen in FY2017 first half.

 

2


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(3) Geographic Information

(i) Japan:

Net revenues in Japan decreased by 241.7 billion yen, or 3.3%, to 6,980.4 billion yen in FY2017 first half compared with FY2016 first half, and operating income decreased by 473.5 billion yen, or 49.4%, to 484.7 billion yen in FY2017 first half compared with FY2016 first half. The decrease in operating income was mainly due to the effects of changes in exchange rates and the increase in expenses and others.

(ii) North America:

Net revenues in North America decreased by 654.3 billion yen, or 11.8%, to 4,876.3 billion yen in FY2017 first half compared with FY2016 first half. However, operating income increased by 35.8 billion yen, or 13.0%, to 311.2 billion yen in FY2017 first half compared with FY2016 first half. The increase in operating income was mainly due to the decrease in expenses and others, and cost reduction efforts.

(iii) Europe:

Net revenues in Europe decreased by 83.3 billion yen, or 6.4%, to 1,225.9 billion yen in FY2017 first half compared with FY2016 first half. However, operating income increased by 4.2 billion yen, or 14.1%, to 34.5 billion yen in FY2017 first half compared with FY2016 first half.

(iv) Asia:

Net revenues in Asia decreased by 139.5 billion yen, or 5.7%, to 2,301.5 billion yen in FY2017 first half compared with FY2016 first half, and operating income decreased by 21.3 billion yen, or 8.7%, to 222.7 billion yen in FY2017 first half compared with FY2016 first half. The decrease in operating income was mainly due to the increase in expenses and others, and the effects of changes in exchange rates.

(v) Other (Central and South America, Oceania, Africa and the Middle East):

Net revenues in other regions decreased by 138.2 billion yen, or 11.7%, to 1,046.6 billion yen in FY2017 first half compared with FY2016 first half, and operating income decreased by 14.0 billion yen, or 21.0%, to 52.8 billion yen in FY2017 first half compared with FY2016 first half. The decrease in operating income was mainly due to the effects of changes in exchange rates and the increase in expenses and others.

 

3


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

2. Information Concerning Forecast of Consolidated Financial Results for FY2017

Based on the current trend of financial results, due to changes in foreign currency exchange rates and favorable results of a variety of measures for profit improvement, the current forecast of consolidated financial results for FY2017 (April 1, 2016 through March 31, 2017) is set forth below. This forecast assumes average exchange rates through the fiscal year of 103 yen per US$1 and 114 yen per 1 euro.

Forecast of consolidated results for FY2017

 

Net revenues

   26,000.0 billion yen    (a decrease of 8.5% compared with FY2016)

Operating income

   1,700.0 billion yen    (a decrease of 40.4% compared with FY2016)

Income before income taxes and equity in earnings of affiliated companies

   1,900.0 billion yen    (a decrease of 36.3% compared with FY2016)

Net income attributable to Toyota Motor Corporation

   1,550.0 billion yen    (a decrease of 33.0% compared with FY2016)

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, 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 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.

 

4


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

3. Other Information

(1) Changes in significant subsidiaries during the current period

(Changes in specified subsidiaries that caused a change in the scope of consolidation)

None

(2) Simplified accounting procedures and accounting procedures specific to quarterly consolidated financial statements

Provision for income taxes

The provision for income taxes is computed by multiplying income before income taxes and equity in earnings of affiliated companies for the first half by estimated annual effective tax rates. These estimated annual effective tax rates reflect anticipated investment tax credits, foreign tax credits and other items, including changes in valuation allowances, that are expected to affect estimated annual effective tax rates.

(3) Changes in accounting principles, procedures, and disclosures for consolidated financial statements

In February 2015, the Financial Accounting Standards Board (“FASB”) issued updated guidance that amends the analysis a reporting entity must perform to determine whether it should consolidate certain legal entities. The parent company and its consolidated subsidiaries (“Toyota”) adopted this guidance on April 1, 2016. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

In April 2015, the FASB issued updated guidance that requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. In August 2015, the FASB issued an additional update which clarifies that debt issuance costs for line of credit agreements may continue to be deferred and amortized. Toyota adopted this guidance on April 1, 2016. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

In April 2015, the FASB issued updated guidance to help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement. Toyota adopted this guidance on April 1, 2016. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

In November 2015, the FASB issued updated guidance to simplify the balance sheet classification of deferred taxes. This guidance will require that deferred tax assets and liabilities be classified as noncurrent on the balance sheet. Toyota early adopted this guidance on April 1, 2016. Toyota adopted this guidance on a prospective basis from April 1, 2016 and prior periods were not retrospectively adjusted.

 

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Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

4. Consolidated Production and Sales

(1) Production

 

          (Units)  

Business segment

   FY2016 first half
(Six months ended
September 30, 2015)
     FY2017 first half
(Six months ended
September 30, 2016)
     Increase
(Decrease)
 

Automotive

   Japan      1,940,800         1,992,732         51,932   
   North America      989,386         1,035,402         46,016   
   Europe      267,303         278,719         11,416   
   Asia      810,050         829,243         19,193   
   Other      251,704         253,102         1,398   
     

 

 

    

 

 

    

 

 

 
         Total      4,259,243         4,389,198         129,955   
     

 

 

    

 

 

    

 

 

 

Other

   Housing      2,484         2,817         333   
         

 

 

Business segment

   FY2016 second quarter
(Three months ended
September 30, 2015)
     FY2017 second quarter
(Three months ended
September 30, 2016)
     Increase
(Decrease)
 

Automotive

   Japan      999,338         1,058,744         59,406   
   North America      461,956         508,005         46,049   
   Europe      132,402         134,849         2,447   
   Asia      438,301         409,108         (29,193
   Other      134,132         129,040         (5,092
     

 

 

    

 

 

    

 

 

 
         Total      2,166,129         2,239,746         73,617   
     

 

 

    

 

 

    

 

 

 

Other

   Housing      1,476         1,658         182   

 

Note: 1 Production in “Automotive” indicates production units of new vehicles.
     2 “Other” in “Automotive” consists of Central and South America, Oceania and Africa.

(2) Sales (by destination)

 

          (Units)  

Business segment

   FY2016 first half
(Six months ended
September 30, 2015)
     FY2017 first half
(Six months ended
September 30, 2016)
     Increase
(Decrease)
 

Automotive

   Japan      984,397         1,078,810         94,413   
   North America      1,413,064         1,400,369         (12,695
   Europe      407,352         434,381         27,029   
   Asia      653,566         764,750         111,184   
   Other      819,628         685,227         (134,401
     

 

 

    

 

 

    

 

 

 
         Total      4,278,007         4,363,537         85,530   
     

 

 

    

 

 

    

 

 

 

Other

   Housing      2,424         2,796         372   
         

 

 

Business segment

   FY2016 second quarter
(Three months ended
September 30, 2015)
     FY2017 second quarter
(Three months ended
September 30, 2016)
     Increase
(Decrease)
 

Automotive

   Japan      514,426         567,640         53,214   
   North America      684,251         684,985         734   
   Europe      200,978         211,673         10,695   
   Asia      324,964         380,579         55,615   
   Other      439,388         346,001         (93,387
     

 

 

    

 

 

    

 

 

 
         Total      2,164,007         2,190,878         26,871   
     

 

 

    

 

 

    

 

 

 

Other

   Housing      1,533         1,611         78   

 

Note: 1 Sales in “Automotive” indicates sales units of new vehicles.
     2 “Other” in “Automotive” consists of Central and South America, Oceania, Africa and the Middle East, etc.

 

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Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

5. Consolidated Financial Statements

(1) Consolidated Balance Sheets

 

     (Yen in millions)  
     FY2016
(March 31, 2016)
    FY2017 second quarter
(September 30, 2016)
    Increase
(Decrease)
 

Assets

      

Current assets:

      

Cash and cash equivalents

     2,939,428        2,767,004        (172,424

Time deposits

     1,032,034        987,985        (44,049

Marketable securities

     1,511,389        1,503,005        (8,384

Trade accounts and notes receivable, less allowance for doubtful accounts

     2,000,149        1,805,932        (194,217

Finance receivables, net

     5,912,684        5,349,933        (562,751

Other receivables

     451,406        425,195        (26,211

Inventories

     2,061,511        2,058,076        (3,435

Deferred income taxes

     967,607               (967,607

Prepaid expenses and other current assets

     1,333,345        756,009        (577,336
  

 

 

   

 

 

   

 

 

 

Total current assets

     18,209,553        15,653,139        (2,556,414
  

 

 

   

 

 

   

 

 

 

Noncurrent finance receivables, net

     8,642,947        7,944,409        (698,538

Investments and other assets:

      

Marketable securities and other securities investments

     7,439,799        7,355,033        (84,766

Affiliated companies

     2,631,612        2,587,773        (43,839

Employees receivables

     32,998        29,075        (3,923

Other

     730,271        917,845        187,574   
  

 

 

   

 

 

   

 

 

 

Total investments and other assets

     10,834,680        10,889,726        55,046   
  

 

 

   

 

 

   

 

 

 

Property, plant and equipment:

                                                                                    

Land

     1,352,904        1,347,459        (5,445

Buildings

     4,311,895        4,253,545        (58,350

Machinery and equipment

     10,945,267        10,524,881        (420,386

Vehicles and equipment on operating leases

     5,652,622        5,282,596        (370,026

Construction in progress

     513,953        502,263        (11,690
  

 

 

   

 

 

   

 

 

 

Total property, plant and equipment, at cost

     22,776,641        21,910,744        (865,897
  

 

 

   

 

 

   

 

 

 

Less – Accumulated depreciation

     (13,036,224     (12,621,913     414,311   
  

 

 

   

 

 

   

 

 

 

Total property, plant and equipment, net

     9,740,417        9,288,831        (451,586
  

 

 

   

 

 

   

 

 

 

Total assets

     47,427,597        43,776,105        (3,651,492
  

 

 

   

 

 

   

 

 

 

 

7


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

     (Yen in millions)  
     FY2016
(March 31, 2016)
    FY2017 second quarter
(September 30, 2016)
    Increase
(Decrease)
 

Liabilities

      

Current liabilities:

      

Short-term borrowings

     4,698,134        4,600,148        (97,986

Current portion of long-term debt

     3,822,954        3,554,849        (268,105

Accounts payable

     2,389,515        2,225,891        (163,624

Other payables

     1,040,277        824,848        (215,429

Accrued expenses

     2,726,120        2,556,974        (169,146

Income taxes payable

     343,325        226,339        (116,986

Other current liabilities

     1,104,131        1,029,213        (74,918
  

 

 

   

 

 

   

 

 

 

Total current liabilities

     16,124,456        15,018,262        (1,106,194
  

 

 

   

 

 

   

 

 

 

Long-term liabilities:

      

Long-term debt

     9,772,065        8,706,063        (1,066,002

Accrued pension and severance costs

     904,911        917,057        12,146   

Deferred income taxes

     2,046,089        1,230,450        (815,639

Other long-term liabilities

     491,890        462,009        (29,881
  

 

 

   

 

 

   

 

 

 

Total long-term liabilities

     13,214,955        11,315,579        (1,899,376
  

 

 

   

 

 

   

 

 

 

Total liabilities

     29,339,411        26,333,841        (3,005,570
  

 

 

   

 

 

   

 

 

 

Mezzanine equity

      

Model AA Class Shares, no par value,
authorized: 150,000,000 shares at March 31, 2016
and September 30, 2016
issued: 47,100,000 shares at March 31, 2016
and September 30, 2016

     479,779        483,452        3,673   
  

 

 

   

 

 

   

 

 

 

Shareholders’ equity

                                                                                    

Toyota Motor Corporation shareholders’ equity:

      

Common stock, no par value,
authorized: 10,000,000,000 shares
at March 31, 2016 and September 30, 2016
issued: 3,337,997,492 shares
at March 31, 2016 and September 30, 2016

     397,050        397,050          

Additional paid-in capital

     548,161        514,587        (33,574

Retained earnings

     16,794,240        17,401,371        607,131   

Accumulated other comprehensive income (loss)

     610,768        (103,018     (713,786

Treasury stock, at cost,
300,321,622 shares at March 31, 2016 and
334,684,022 shares at September 30, 2016

     (1,603,284     (1,818,082     (214,798
  

 

 

   

 

 

   

 

 

 

Total Toyota Motor Corporation shareholders’ equity

     16,746,935        16,391,908        (355,027
  

 

 

   

 

 

   

 

 

 

Noncontrolling interests

     861,472        566,904        (294,568
  

 

 

   

 

 

   

 

 

 

Total shareholders’ equity

     17,608,407        16,958,812        (649,595
  

 

 

   

 

 

   

 

 

 

Commitments and contingencies

      
  

 

 

   

 

 

   

 

 

 

Total liabilities, mezzanine equity and shareholders’ equity

     47,427,597        43,776,105        (3,651,492
  

 

 

   

 

 

   

 

 

 

 

Note: The total number of authorized shares for common stock and Model AA Class Shares is 10,000,000,000 shares.

 

8


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

 

First half for the six months ended September 30

      

Consolidated Statements of Income

      
     (Yen in millions)  
     FY2016 first half
(Six months ended
September 30, 2015)
    FY2017 first half
(Six months ended
September 30, 2016)
    Increase
(Decrease)
 

Net revenues:

                                                                                    

Sales of products

     13,162,616        12,216,706        (945,910

Financing operations

     928,872        853,827        (75,045
  

 

 

   

 

 

   

 

 

 

Total net revenues

     14,091,488        13,070,533        (1,020,955
  

 

 

   

 

 

   

 

 

 

Costs and expenses:

      

Cost of products sold

     10,518,787        10,056,838        (461,949

Cost of financing operations

     588,751        533,813        (54,938

Selling, general and administrative

     1,400,545        1,363,017        (37,528
  

 

 

   

 

 

   

 

 

 

Total costs and expenses

     12,508,083        11,953,668        (554,415
  

 

 

   

 

 

   

 

 

 

Operating income

     1,583,405        1,116,865        (466,540
  

 

 

   

 

 

   

 

 

 

Other income (expense):

      

Interest and dividend income

     83,036        79,754        (3,282

Interest expense

     (19,658     (11,113     8,545   

Foreign exchange gain (loss), net

     36,590        (27,907     (64,497

Other income (loss), net

     (8,222     18,935        27,157   
  

 

 

   

 

 

   

 

 

 

Total other income (expense)

     91,746        59,669        (32,077
  

 

 

   

 

 

   

 

 

 

Income before income taxes and equity in earnings of affiliated companies

     1,675,151        1,176,534        (498,617
  

 

 

   

 

 

   

 

 

 

Provision for income taxes

     516,368        354,924        (161,444

Equity in earnings of affiliated companies

     161,662        168,395        6,733   
  

 

 

   

 

 

   

 

 

 

Net income

     1,320,445        990,005        (330,440
  

 

 

   

 

 

   

 

 

 

Less – Net income attributable to noncontrolling interests

     (62,333     (43,832     18,501   
  

 

 

   

 

 

   

 

 

 

Net income attributable to Toyota Motor Corporation

     1,258,112        946,173        (311,939
  

 

 

   

 

 

   

 

 

 

 

Note:  Net income attributable to common shareholders for the first half ended September 30, 2016 and 2015 is 941,275 million yen and 1,255,652 million yen, respectively, which is derived by deducting dividend and accretion to Model AA Class Shares of 4,898 million yen and 2,460 million yen, respectively, from Net income attributable to Toyota Motor Corporation.

 

     (Yen)  

Net income attributable to Toyota Motor Corporation per common share

      

Basic

            399.39           311.08        (88.31

Diluted

     397.75        307.84        (89.91

 

9


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

Consolidated Statements of Comprehensive Income

      
     (Yen in millions)  
     FY2016 first half
(Six months ended
September 30, 2015)
    FY2017 first half
(Six months ended
September 30, 2016)
    Increase
(Decrease)
 

Net income

     1,320,445        990,005        (330,440

Other comprehensive income (loss), net of tax

                                                                                    

Foreign currency translation adjustments

     (142,295     (554,883     (412,588

Unrealized gains (losses) on securities

     (252,582     (191,427     61,155   

Pension liability adjustments

     (535     (714     (179
  

 

 

   

 

 

   

 

 

 

Total other comprehensive income (loss)

     (395,412     (747,024     (351,612
  

 

 

   

 

 

   

 

 

 

Comprehensive income

     925,033        242,981        (682,052
  

 

 

   

 

 

   

 

 

 

Less – Comprehensive income attributable to noncontrolling interests

     (31,596     (8,368     23,228   
  

 

 

   

 

 

   

 

 

 

Comprehensive income attributable to Toyota Motor Corporation

     893,437        234,613        (658,824
  

 

 

   

 

 

   

 

 

 

 

10


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

Second quarter for the three months ended September 30

     

Consolidated Statements of Income

       
   

(Yen in millions)

   

FY2016 second quarter
(Three months ended
September 30, 2015)

 

FY2017 second quarter
(Three months ended
September 30, 2016)

       

Increase
(Decrease)

Net revenues:

       

Sales of products

  6,634,883    6,057,702      (577,181)

Financing operations

  468,957    423,718      (45,239)
 

 

 

 

   

 

Total net revenues

  7,103,840    6,481,420      (622,420)
 

 

 

 

   

 

Costs and expenses:

       

Cost of products sold

  5,269,997    5,043,030      (226,967)

Cost of financing operations

  280,376    268,395      (11,981)

Selling, general and administrative

  726,063    695,360      (30,703)
 

 

 

 

   

 

Total costs and expenses

  6,276,436    6,006,785      (269,651)
 

 

 

 

   

 

Operating income

  827,404    474,635      (352,769)
 

 

 

 

   

 

Other income (expense):

       

Interest and dividend income

  29,710    22,993      (6,717)

Interest expense

  (15,262)   (6,190)     9,072 

Foreign exchange gain, net

  2,402    1,398      (1,004)

Other income (loss), net

  (14,362)   6,642      21,004 
 

 

 

 

   

 

Total other income (expense)

  2,488    24,843      22,355 
 

 

 

 

   

 

Income before income taxes and equity in earnings of affiliated companies

  829,892    499,478      (330,414)
 

 

 

 

   

 

Provision for income taxes

  248,411    167,099      (81,312)

Equity in earnings of affiliated companies

  60,760    78,395      17,635 
 

 

 

 

   

 

Net income

  642,241    410,774      (231,467)
 

 

 

 

   

 

Less – Net income attributable to noncontrolling interests

  (30,523)   (17,066)     13,457 
 

 

 

 

   

 

Net income attributable to Toyota Motor Corporation

  611,718    393,708      (218,010)
 

 

 

 

   

 

 

Note:  Net income attributable to common shareholders for the second quarter ended September 30, 2016 and 2015 is 391,259 million yen and 609,258 million yen, respectively, which is derived by deducting dividend and accretion to Model AA Class Shares of 2,449 million yen and 2,460 million yen, respectively, from Net income attributable to Toyota Motor Corporation.

   

(Yen)

Net income attributable to Toyota Motor Corporation per common share

       

Basic

  193.97    129.77      (64.20)

Diluted

  192.51    128.54      (63.97)

 

11


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

Consolidated Statements of Comprehensive Income

   

(Yen in millions)

   

FY2016 second quarter
(Three months ended
September 30, 2015)

 

FY2017 second quarter
(Three months ended
September 30, 2016)

       

Increase
(Decrease)

Net income

  642,241    410,774      (231,467)

Other comprehensive income (loss), net of tax

       

Foreign currency translation adjustments

  (227,562)   (104,983)     122,579 

Unrealized gains (losses) on securities

  (330,242)   73,775      404,017 

Pension liability adjustments

  (2,376)   2,894      5,270 
 

 

 

 

   

 

Total other comprehensive income (loss)

  (560,180)   (28,314)     531,866 
 

 

 

 

   

 

Comprehensive income

  82,061    382,460      300,399 
 

 

 

 

   

 

Less – Comprehensive income attributable to noncontrolling interests

  3,045    (12,635)     (15,680)
 

 

 

 

   

 

Comprehensive income attributable to Toyota Motor Corporation

  85,106    369,825      284,719 
 

 

 

 

   

 

 

12


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(3) Consolidated Statements of Cash Flows

 

     (Yen in millions)  
     FY2016 first half
(Six months ended
September 30, 2015)
    FY2017 first half
(Six months ended
September 30, 2016)
 

Cash flows from operating activities:

    

Net income

     1,320,445        990,005   

Adjustments to reconcile net income to net cash provided by operating activities

    

Depreciation

     784,705        767,044   

Provision for doubtful accounts and credit losses

     43,737        37,763   

Pension and severance costs, less payments

     7,293        21,956   

Losses on disposal of fixed assets

     18,077        12,202   

Unrealized losses on available-for-sale securities, net

     6,197        5,990   

Deferred income taxes

     53,219        18,740   

Equity in earnings of affiliated companies

     (161,662     (168,395

Changes in operating assets and liabilities, and other

     (114,488     (110,929
  

 

 

   

 

 

 

Net cash provided by operating activities

     1,957,523        1,574,376   
  

 

 

   

 

 

 

Cash flows from investing activities:

    

Additions to finance receivables

     (7,018,921     (6,471,350

Collection of and proceeds from sales of finance receivables

     6,725,564        6,248,137   

Additions to fixed assets excluding equipment leased to others

     (631,430     (592,974

Additions to equipment leased to others

     (1,422,814     (1,198,120

Proceeds from sales of fixed assets excluding equipment leased to others

     14,846        15,866   

Proceeds from sales of equipment leased to others

     537,111        620,871   

Purchases of marketable securities and security investments

     (915,383     (1,220,327

Proceeds from sales of and maturity of marketable securities and security investments

     1,580,087        864,289   

Changes in investments and other assets, and other

     (1,025,228     698,684   
  

 

 

   

 

 

 

Net cash used in investing activities

     (2,156,168     (1,034,924
  

 

 

   

 

 

 

Cash flows from financing activities:

    

Proceeds from issuance of long-term debt

     2,806,288        2,080,740   

Payments of long-term debt

     (2,150,070     (2,112,216

Increase in short-term borrowings

     230,267        353,872   

Proceeds from issuance of class shares

     474,917          

Dividends paid to Toyota Motor Corporation class shareholders

            (1,224

Dividends paid to Toyota Motor Corporation common shareholders

     (393,352     (334,144

Dividends paid to noncontrolling interests

     (59,027     (47,934

Reissuance (repurchase) of treasury stock, and other

     (245,819     (505,603
  

 

 

   

 

 

 

Net cash provided by (used in) financing activities

     663,204        (566,509
  

 

 

   

 

 

 

Effect of exchange rate changes on cash and cash equivalents

     (58,265     (145,367
  

 

 

   

 

 

 

Net increase (decrease) in cash and cash equivalents

     406,294        (172,424
  

 

 

   

 

 

 

Cash and cash equivalents at beginning of period

     2,284,557        2,939,428   
  

 

 

   

 

 

 

Cash and cash equivalents at end of period

     2,690,851        2,767,004   
  

 

 

   

 

 

 

 

Note:

 

In the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand, bank deposits that can be withdrawn at any time and short-term investments that can be converted into cash at any time and carry minimal risk of change in value.

 

13


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(4) Going Concern Assumption

          None

(5) Segment Information

(i) Segment Operating Results

FY2016 first half (Six months ended September 30, 2015)

 

     (Yen in millions)  
     Automotive      Financial Services      All Other      Inter-segment
Elimination
    Consolidated  

Net revenues:

             

Sales to external customers

     12,856,840         928,872         305,776                14,091,488   

Inter-segment sales and transfers

     26,091         21,109         245,772         (292,972       
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total

     12,882,931         949,981         551,548         (292,972     14,091,488   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating expenses

     11,491,577         784,138         524,313         (291,945     12,508,083   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

     1,391,354         165,843         27,235         (1,027     1,583,405   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

FY2017 first half (Six months ended September 30, 2016)

  

 
     (Yen in millions)  
     Automotive      Financial Services      All Other      Inter-segment
Elimination
    Consolidated  

Net revenues:

             

Sales to external customers

     11,915,160         853,827         301,546                13,070,533   

Inter-segment sales and transfers

     22,849         17,137         231,306         (271,292       
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total

     11,938,009         870,964         532,852         (271,292     13,070,533   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating expenses

     11,000,649         718,768         505,623         (271,372     11,953,668   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

     937,360         152,196         27,229         80        1,116,865   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

FY2016 second quarter (Three months ended September 30, 2015)

  

 
     (Yen in millions)  
     Automotive      Financial Services      All Other      Inter-segment
Elimination
    Consolidated  

Net revenues:

             

Sales to external customers

     6,458,452         468,957         176,431                7,103,840   

Inter-segment sales and transfers

     13,089         10,722         118,168         (141,979       
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total

     6,471,541         479,679         294,599         (141,979     7,103,840   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating expenses

     5,757,750         384,009         279,647         (144,970     6,276,436   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

     713,791         95,670         14,952         2,991        827,404   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

FY2017 second quarter (Three months ended September 30, 2016)

  

 
     (Yen in millions)  
     Automotive      Financial Services      All Other      Inter-segment
Elimination
    Consolidated  

Net revenues:

             

Sales to external customers

     5,897,299         423,718         160,403                6,481,420   

Inter-segment sales and transfers

     11,673         8,335         123,406         (143,414       
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total

     5,908,972         432,053         283,809         (143,414     6,481,420   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating expenses

     5,515,053         370,098         266,908         (145,274     6,006,785   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

     393,919         61,955         16,901         1,860        474,635   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

 

14


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(ii) Geographic Information

FY2016 first half (Six months ended September 30, 2015)

 

     (Yen in millions)  
     Japan      North America      Europe      Asia      Other      Inter-segment
Elimination
    Consolidated  

Net revenues:

                   

Sales to external customers

     4,149,579         5,416,766         1,244,296         2,204,258         1,076,589                14,091,488   

Inter-segment sales and transfers

     3,072,596         114,026         65,017         236,834         108,233         (3,596,706       
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total

     7,222,175         5,530,792         1,309,313         2,441,092         1,184,822         (3,596,706     14,091,488   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating expenses

     6,263,942         5,255,398         1,279,062         2,196,962         1,117,928         (3,605,209     12,508,083   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

     958,233         275,394         30,251         244,130         66,894         8,503        1,583,405   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

FY2017 first half (Six months ended September 30, 2016)

 

  

     (Yen in millions)  
     Japan      North America      Europe      Asia      Other      Inter-segment
Elimination
    Consolidated  

Net revenues:

                   

Sales to external customers

     4,119,205         4,785,406         1,166,278         2,057,926         941,718                13,070,533   

Inter-segment sales and transfers

     2,861,212         90,989         59,639         243,644         104,894         (3,360,378       
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total

     6,980,417         4,876,395         1,225,917         2,301,570         1,046,612         (3,360,378     13,070,533   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating expenses

     6,495,708         4,565,136         1,191,392         2,078,779         993,761         (3,371,108     11,953,668   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

     484,709         311,259         34,525         222,791         52,851         10,730        1,116,865   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

 

Note: “Other” consists of Central and South America, Oceania, Africa and the Middle East.

 

  

FY2016 second quarter (Three months ended September 30, 2015)

 

  

     (Yen in millions)  
     Japan      North America      Europe      Asia      Other      Inter-segment
Elimination
    Consolidated  

Net revenues:

                   

Sales to external customers

     2,142,419         2,635,474         636,733         1,160,467         528,747                7,103,840   

Inter-segment sales and transfers

     1,577,794         54,873         28,556         137,648         59,800         (1,858,671       
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total

     3,720,213         2,690,347         665,289         1,298,115         588,547         (1,858,671     7,103,840   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating expenses

     3,237,834         2,541,813         642,897         1,154,082         559,681         (1,859,871     6,276,436   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

     482,379         148,534         22,392         144,033         28,866         1,200        827,404   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

FY2017 second quarter (Three months ended September 30, 2016)

 

  

     
     (Yen in millions)  
     Japan      North America      Europe      Asia      Other      Inter-segment
Elimination
    Consolidated  

Net revenues:

                   

Sales to external customers

     2,139,769         2,300,602         576,245         994,421         470,383                6,481,420   

Inter-segment sales and transfers

     1,479,238         41,234         27,842         124,492         54,696         (1,727,502       
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total

     3,619,007         2,341,836         604,087         1,118,913         525,079         (1,727,502     6,481,420   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating expenses

     3,424,665         2,202,017         578,572         1,023,570         499,528         (1,721,567     6,006,785   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating income

     194,342         139,819         25,515         95,343         25,551         (5,935     474,635   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

 

Note: “Other” consists of Central and South America, Oceania, Africa and the Middle East.

  

 

15


Table of Contents

TOYOTA MOTOR CORPORATION    FY2017 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(6) Significant Changes in Shareholders’ Equity

          None

 

16

Supplemental Material for Financial Results for FY2017 Second Quarter (Consolidated)

< U.S. GAAP >

 

 

    FY2016     FY2017     FY2017  
  1Q
(2015/4-6)
    2Q
(2015/7-9)
    First Half
6 months
(2015/4-9)
    3Q
(2015/10-12)
    4Q
(2016/1-3)
    12 months
(’15/4-’16/3)
    1Q
(2016/4-6)
    2Q
(2016/7-9)
    First Half
6 months
(2016/4-9)
    Forecast
12 months
(’16/4-’17/3)
 

Vehicle Production (thousands of units)

            2,093                2,166                4,259                2,146                2,171                8,576                2,149                2,240                4,389     

(Japan)
– including Daihatsu & Hino

    941        1,000        1,941        1,010        1,030        3,981        934        1,059        1,993     

[Daihatsu & Hino]

    [193     [187     [380     [205     [224     [809     [194     [215     [409  

(Overseas)
– including Daihatsu & Hino

    1,152        1,166        2,318        1,136        1,141        4,595        1,215        1,181        2,396     

[Daihatsu & Hino]

    [80     [68     [148     [80     [74     [302     [86     [95     [181  

North America

    527        462        989        464        516        1,970        527        508        1,035     

Europe

    135        132        267        152        145        565        144        135        279     

Asia

    372        438        810        414        382        1,605        420        409        829     

Central and South America

    65        75        140        55        60        255        69        69        138     

Oceania

    24        28        52        23        21        95        21        27        47     

Africa

    29        31        60        28        17        105        34        33        68     

Vehicle Sales (thousands of units)

    2,114        2,164        4,278        2,215        2,189        8,681        2,172        2,191        4,363        8,850   

(Japan)
– including Daihatsu & Hino

    470        514        984        493        583        2,059        511        567        1,078        2,200   

[Daihatsu & Hino]

    [129     [137     [266     [141     [186     [592     [132     [146     [278     [600

(Overseas)
– including Daihatsu & Hino

    1,644        1,650        3,294        1,722        1,606        6,622        1,661        1,624        3,285        6,650   

[Daihatsu & Hino]

    [76     [66     [142     [70     [70     [282     [72     [70     [142     [280

North America

    729        684        1,413        728        698        2,839        715        684        1,400        2,820   

Europe

    206        201        407        210        226        844        222        212        434        950   

Asia

    328        325        654        362        329        1,345        384        381        765        1,560   

Central and South America

    98        112        209        90        93        392        101        110        210        400   

Oceania

    62        61        123        75        61        260        64        65        129        250   

Africa

    52        55        107        44        40        191        43        47        90        190   

Middle East

    167        210        377        211        158        744        130        124        254        480   

Other

    2        2        4        2        1        7        2        1        3     

Total Retail Unit Sales (thousands of units)
[Toyota, Daihatsu and Hino]

    2,502        2,477        4,979        2,652        2,463        10,094        2,529        2,538        5,067        10,100   

Housing Sales (units)

    891        1,533        2,424        1,335        1,992        5,751        1,185        1,611        2,796        6,100   

 

Supplemental 1


Supplemental Material for Financial Results for FY2017 Second Quarter (Consolidated)

< U.S. GAAP >

 

 

    FY2016     FY2017     FY2017  
    1Q
(2015/4-6)
    2Q
(2015/7-9)
    First Half
6 months
(2015/4-9)
    3Q
(2015/10-12)
    4Q
(2016/1-3)
    12 months
(’15/4-’16/3)
    1Q
(2016/4-6)
    2Q
(2016/7-9)
    First Half
6 months
(2016/4-9)
    Forecast
12 months
(’16/4-’17/3)
 

Foreign Exchange Rates

                   

Yen to US Dollar Rate

    121        122        122        121        115        120        108        102        105       
 
as premise:
103
 
  

Yen to Euro Rate

    134        136        135        133        127        133        122        114        118       
 
as premise:
114
 
  

Market Share (Japan)

                   

Toyota (excluding Mini-Vehicles) (%)

    47.9        45.4        46.6        49.5        44.9        46.8        49.7        49.3        49.5       
 
approximately:
48.0
  
  

Toyota, Daihatsu and Hino (including Mini-Vehicles) (%)

    43.3        42.3        42.7        45.9        42.0        43.2        47.0        46.1        46.5     

Number of Employees

    349,131        349,508        349,508        349,766        348,877        348,877        354,974        355,264        355,264 (Note 1)   

Net Revenues (billions of yen)

    6,987.6        7,103.8        14,091.4        7,339.8        6,971.7        28,403.1        6,589.1        6,481.4        13,070.5        26,000.0   

Geographic Information

                   

Japan

    3,501.9        3,720.2        7,222.1        3,851.6        3,685.6        14,759.4        3,361.4        3,619.0        6,980.4     

North America

    2,840.4        2,690.3        5,530.7        2,856.9        2,664.1        11,051.9        2,534.5        2,341.8        4,876.3     

Europe

    644.0        665.2        1,309.3        656.9        695.0        2,661.3        621.8        604.0        1,225.9     

Asia

    1,142.9        1,298.1        2,441.0        1,361.1        1,201.5        5,003.8        1,182.6        1,118.9        2,301.5     

Other

    596.2        588.5        1,184.8        558.8        466.5        2,210.2        521.5        525.0        1,046.6     

Elimination

    -1,738.0        -1,858.6        -3,596.7        -1,945.6        -1,741.3        -7,283.7        -1,632.8        -1,727.5        -3,360.3     

Business Segment

                   

Automotive

    6,411.3        6,471.5        12,882.9        6,715.0        6,379.4        25,977.4        6,029.0        5,908.9        11,938.0     

Financial Services

    470.3        479.6        949.9        483.9        462.2        1,896.2        438.9        432.0        870.9     

All Other

    256.9        294.5        551.5        283.0        342.7        1,177.3        249.0        283.8        532.8     

Elimination

    -150.9        -141.9        -292.9        -142.1        -212.7        -647.9        -127.8        -143.4        -271.2     

Operating Income (billions of yen)

    756.0        827.4        1,583.4        722.2        548.3        2,853.9        642.2        474.6        1,116.8        1,700.0   

(Operating Income Ratio) (%)

    (10.8     (11.6     (11.2     (9.8     (7.9     (10.0     (9.7     (7.3     (8.5     (6.5

Geographic Information

                   

Japan

    475.8        482.3        958.2        392.7        326.5        1,677.5        290.3        194.3        484.7     

North America

    126.8        148.5        275.3        150.7        102.6        528.8        171.4        139.8        311.2     

Europe

    7.8        22.3        30.2        20.5        21.6        72.4        9.0        25.5        34.5     

Asia

    100.0        144.0        244.1        134.8        70.2        449.1        127.4        95.3        222.7     

Other

    38.0        28.8        66.8        25.0        16.9        108.9        27.3        25.5        52.8     

Elimination

    7.3        1.2        8.5        -1.6        10.2        17.1        16.6        -5.9        10.7     

Business Segment

                   

Automotive

    677.5        713.7        1,391.3        607.6        449.9        2,448.9        543.4        393.9        937.3     

Financial Services

    70.1        95.6        165.8        99.2        74.1        339.2        90.2        61.9        152.1     

All Other

    12.2        14.9        27.2        17.8        21.3        66.5        10.3        16.9        27.2     

Elimination

    -4.0        2.9        -1.0        -2.5        2.7        -0.7        -1.7        1.8        0.0     

Income before Income Taxes
(billions of yen)

    845.2        829.8        1,675.1        777.7        530.4        2,983.3        677.0        499.4        1,176.5        1,900.0   

(Income before Income Taxes Ratio) (%)

    (12.1     (11.7     (11.9     (10.6     (7.6     (10.5     (10.3     (7.7     (9.0     (7.3

Equity in Earnings of Affiliated Companies (billions of yen)

    100.9        60.7        161.6        106.0        61.3        329.0        90.0        78.3        168.3        300.0   

Net Income (billions of yen)

    646.3        611.7        1,258.1        627.9        426.6        2,312.6        552.4        393.7        946.1        1,550.0 (Note 2) 

(Net Income Ratio) (%)

    (9.3     (8.6     (8.9     (8.6     (6.1     (8.1     (8.4     (6.1     (7.2     (6.0

Dividends

                   

Common Shares

                   

Cash Dividends (billions of yen)

    —          311.3        311.3        —          334.1        645.5        —          300.3        300.3 (Note 3)   

Cash Dividends per Share (yen)

    —          100        100        —          110        210        —          100        100     

Payout Ratio (%)

    —          25.0        25.0        —          32.2        28.3        —          32.1        32.1     

Model AA Class Shares

                   

Cash Dividends (billions of yen)

    —          1.2        1.2        —          1.2        2.4        —          2.4        2.4 (Note 3)   

Cash Dividends per Share (yen)

    —          26        26        —          26        52        —          52.5        52.5     

Value of Shares Repurchased (billions of yen)[actual purchase]

    —          249.1        249.1        300.8        232.6        782.6        147.7        352.2        499.9 (Note 4)   

Value of Shares Repurchased (billions of yen)[shareholder return]

    —          139.3        139.3        —          499.9        639.3        —         

 

200.0

(maximum

  

   

 

200.0

(maximum

(Note 4) 

)(Note 5) 

 

Number of Shares Canceled (thousands)

    —          —          —          80,000        —          80,000        —          —          —   (Note 6)   

Number of Outstanding Common Shares (thousands)

    3,417,997        3,417,997        3,417,997        3,337,997        3,337,997        3,337,997        3,337,997        3,337,997        3,337,997     

Number of Outstanding Model
AA Class Shares (thousands)

    —          47,100        47,100        47,100        47,100        47,100        47,100        47,100        47,100     

 

Supplemental 2


Supplemental Material for Financial Results for FY2017 Second Quarter (Consolidated)

< U.S. GAAP >

 

 

    FY2016     FY2017     FY2017  
    1Q
(2015/4-6)
    2Q
(2015/7-9)
    First Half
6 months
(2015/4-9)
    3Q
(2015/10-12)
    4Q
(2016/1-3)
    12 months
(’15/4-’16/3)
    1Q
(2016/4-6)
    2Q
(2016/7-9)
    First Half
6 months
(2016/4-9)
    Forecast
12 months
(’16/4-’17/3)
 

R&D Expenses (billions of yen)

    265.7        264.1        529.8        270.3        255.4        1,055.6        274.1        258.2        532.4        1,070.0   

Depreciation Expenses (billions of yen)

    200.3        216.7        417.0        226.8        241.2        885.1        205.8        215.1        421.0        910.0 (Note 7) 

Geographic Information

                   

Japan

    99.5        115.7        215.3        121.3        129.4        466.2        111.9        120.2        232.1        520.0   

North America

    49.2        49.5        98.7        48.9        46.3        194.0        42.0        43.1        85.2        165.0   

Europe

    12.5        12.2        24.7        14.2        18.7        57.7        11.1        11.7        22.9        55.0   

Asia

    30.1        32.7        62.8        34.3        36.7        133.9        32.2        31.5        63.8        130.0   

Other

    8.9        6.4        15.4        7.9        9.8        33.1        8.4        8.3        16.7        40.0   

Capital Expenditures (billions of yen)

    300.1        260.4        560.6        303.5        428.3        1,292.5        253.3        257.8        511.1        1,340.0 (Note 7) 

Geographic Information

                   

Japan

    109.1        141.6        250.7        145.2        250.8        646.8        135.1        137.3        272.5        745.0   

North America

    57.4        48.6        106.1        57.6        70.4        234.2        70.1        85.3        155.4        325.0   

Europe

    10.5        16.4        27.0        14.6        36.1        77.7        10.8        12.9        23.7        80.0   

Asia

    90.6        29.2        119.8        66.7        53.1        239.7        29.1        14.4        43.6        140.0   

Other

    32.4        24.4        56.8        19.2        17.7        93.9        8.0        7.7        15.7        50.0   

Total Liquid Assets (billions of yen)

    8,794.4        9,160.1        9,160.1        9,001.3        9,229.9        9,229.9        8,700.2        8,469.6        8,469.6 (Note 8)   

Total Assets (billions of yen)

    48,821.4        48,574.5        48,574.5        48,922.9        47,427.5        47,427.5        44,524.3        43,776.1        43,776.1     

Toyota Motor Corporation Shareholders’ Equity (billions of yen)

    17,205.0        17,039.6        17,039.6        17,287.4        16,746.9        16,746.9        16,127.8        16,391.9        16,391.9     

Return on Equity (%)

    15.2        14.2        14.8        14.6        10.0        13.8        13.4        9.6        11.4     

Return on Asset (%)

    5.4        5.0        5.2        5.2        3.5        4.9        4.8        3.6        4.1     

Number of Consolidated Subsidiaries (including Variable Interest Entities)

              548           

No. of Affil. Accounted for Under the Equity Method

              54           

 

Analysis of Consolidated Net Income for FY2017(Note 2)

(billions of yen, approximately)

   2Q
(2016/7-9)
    First Half
6 months
(2016/4-9)
 

Marketing Efforts

     120.0        205.0   

Effects of Changes in Exchange Rates

     -330.0        -565.0   

Cost Reduction Efforts

     130.0        220.0   

From Engineering

     110.0        190.0   

From Manufacturing and Logistics

     20.0        30.0   

Increases in Expenses, etc.

     -195.0        -225.0   

Other

     -77.7        -101.5   

(Changes in Operating Income)

     -352.7        -466.5   

Non-operating Income

     22.3        -32.0   

Equity in Earnings of Affiliated Companies

     17.6        6.7   

Income Taxes, Net Income Attributable to Noncontrolling Interests

     94.7        179.9   

(Changes in Net Income)(Note 2)

     -218.0        -311.9   

 

Supplemental 3

Supplemental Material for Financial Results for FY2017 Second Quarter (Unconsolidated)

< Japan GAAP >

 

 

    FY2016     FY2017     FY2017  
    1Q
(2015/4-6)
    2Q
(2015/7-9)
    First Half
6 months
(2015/4-9)
    3Q
(2015/10-12)
    4Q
(2016/1-3)
    12 months
(’15/4-’16/3)
    1Q
(2016/4-6)
    2Q
(2016/7-9)
    First Half
6 months
(2016/4-9)
    Forecast
12 months
(’16/4-’17/3)
 

Toyota & Lexus brand

                   

Domestic Vehicle Production
(thousands of units)

    748       813       1,561       805       806       3,172       740       844       1,584       3,200  

Overseas Vehicle Production
(thousands of units)

    1,432       1,440       2,872       1,473       1,413       5,758       1,494       1,422       2,916       5,850  

Domestic Vehicle Retail Sales
(thousands of units)

    335       370       705       364       419       1,488       366       413       779       1,600  

Exports Vehicle Sales
(thousands of units)

    418       449       867       476       416       1,759       393       456       849       1,750  

North America

    184       209       393       192       187       772       160       175       335       730  

Europe

    43       37       80       67       60       207       60       73       133       270  

Asia

    52       57       109       64       52       225       59       77       136       260  

Central and South America

    11       10       21       10       10       41       10       14       24       50  

Oceania

    34       37       71       38       30       139       36       43       79       150  

Africa

    18       16       34       11       10       55       13       15       28       60  

Middle East

    74       82       156       92       65       313       54       57       111       230  

Other

    2       1       3       2       2       7       1       2       3    

Net Revenues (billions of yen)

        2,772.1           2,932.9           5,705.0           3,080.1           2,800.6           11,585.8           2,644.8           2,854.8           5,499.7       11,000.0             

Domestic

    868.0       935.7       1,803.8       909.1       1,007.6       3,720.6       939.6       1,036.7       1,976.4    

Exports

    1,904.1       1,997.1       3,901.2       2,170.9       1,793.0       7,865.2       1,705.2       1,818.0       3,523.3    

Operating Income (billions of yen)

    382.9       443.4       826.3       325.3       250.3       1,402.1       243.6       116.3       359.9       520.0  

(Operating Income Ratio) (%)

    ( 13.8     ( 15.1     ( 14.5     ( 10.6     ( 8.9     ( 12.1     ( 9.2     ( 4.1     ( 6.5     ( 4.7

Ordinary Income (billions of yen)

    671.5       740.6       1,412.1       617.3       254.6       2,284.0       479.2       383.3       862.5       1,420.0  

(Ordinary Income Ratio) (%)

    ( 24.2     ( 25.3     ( 24.8     ( 20.0     ( 9.1     ( 19.7     ( 18.1     ( 13.4     ( 15.7     ( 12.9

Net Income (billions of yen)

    542.6       609.6       1,152.2       521.7       136.4       1,810.3       406.8       331.1       737.9       1,220.0  

(Net Income Ratio) (%)

    ( 19.6     ( 20.8     ( 20.2     ( 16.9     ( 4.9     ( 15.6     ( 15.4     ( 11.6     ( 13.4     ( 11.1

R&D Expenses (billions of yen)

    230.2       227.8       458.0       237.1       228.2       923.4       237.4       226.4       463.8       940.0  

Depreciation Expenses (billions of yen)

    45.7       46.4       92.2       46.8       44.9       184.0       57.5       55.6       113.1       220.0  

Capital Expenditures (billions of yen)

    50.0       59.1       109.2       66.2       113.6       289.1       64.9       56.8       121.7       330.0  

 

Analysis of Unconsolidated Net Income for FY2017
(billions of yen, approximately)

   2Q
(2016/7-9)
     First Half
6 months
(2016/4-9)
      

Marketing Efforts

     55.0         25.0      

Effects of Changes in Exchange Rates

     -270.0         -460.0      

Cost Reduction Efforts

     65.0         140.0      
 

From Engineering

     60.0         130.0      
 

From Manufacturing and Logistics

     5.0         10.0      

Increases in Expenses, etc.

     -175.0         -170.0      

Other

     -2.1         -1.3      

(Changes in Operating Income)

     -327.1         -466.3      

Non-operating Income

     -30.2         -83.2      

Income Taxes, etc.

     78.8         135.3      

(Changes in Net Income)

     -278.5         -414.2      
        

Cautionary Statement with Respect to Forward-Looking Statements

This report 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, 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 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.

 

(Note 1) Shows the number of employees as of the end of each period (excluding loan employees from Toyota and its consolidated subsidiaries (“Toyota”) to outside Toyota and including loan employees from outside Toyota to Toyota)
(Note 2) Shows “Net income attributable to Toyota Motor Corporation”
(Note 3) 2Q= Interim Dividend, 4Q= Year-end Dividend, FY= Annual Dividend
(Note 4) Value of common shares repurchased (excluding shares constituting less than one unit that were purchased upon request)
(Note 5) Value of common shares repurchased (shareholder return on Net Income for the period, excluding repurchases made to avoid dilution of shares)
(Note 6) Number of common shares cancelled
(Note 7) Figures for depreciation expenses and capital expenditures do not include vehicles in operating lease
(Note 8) Excludes financial subsidiaries

 

Supplemental 4

[Reference Translation]

November 8, 2016

To Whom It May Concern:

 

   Company Name: TOYOTA MOTOR CORPORATION
   Name and Title of Representative:
               Akio Toyoda, President
               (Code Number: 7203
               Securities exchanges throughout Japan)
   Name and Title of Contact Person:
               Yasushi Kyoda, General Manager,
               Accounting Division
               (Telephone Number: 0565-28-2121)

Notice Concerning Distribution of Interim Dividends from Surplus

At a meeting held on November 8, 2016, the Board of Directors of Toyota Motor Corporation (“TMC”) resolved to distribute dividends from surplus, with record date dated September 30, 2016. In relation to the above, we hereby inform you of the following:

 

1. Details of dividends

 

(1) Common shares

 

    

Interim dividend for

FY 2017

  

Most recent

dividend forecast

  

Interim dividend for

FY 2016

Record date

   September 30, 2016    September 30, 2016    September 30, 2015

Dividend per share

   100.00 yen    —      100.00 yen

Total amount of dividends

   300,331 million yen    —      311,376 million yen

Effective date

   November 29, 2016    —      November 27, 2015

Source of dividends

   Retained earnings    —      Retained earnings

[Reference] Details of dividends per common share through the fiscal year

 

Record date

  

Dividends for FY 2017

(ended March 31, 2017)

  

Dividends for FY 2016

(ended March 31, 2016)

End of interim period    100.00 yen    100.00 yen
End of fiscal period    —      110.00 yen
Total    —      210.00 yen

 

(2) First Series Model AA Class Shares

 

    

Interim dividend for

FY 2017

  

Most recent

dividend forecast

  

Interim dividend for

FY 2016

Record date

   September 30, 2016    September 30, 2016    September 30, 2015

Dividend per share

   52.50 yen    —      26.00 yen

Total amount of dividends

   2,472 million yen    —      1,224 million yen

Effective date

   November 29, 2016    —      November 27, 2015

Source of dividends

   Retained earnings    —      Retained earnings

[Reference] Details of dividends per First Series Model AA Class Share through the fiscal year

 

Record date

  

Dividends for FY 2017

(ended March 31, 2017)

  

Dividends for FY 2016

(ended March 31, 2016)

End of interim period    52.50 yen    26.00 yen
End of fiscal period    —      26.00 yen
Total    —      52.00 yen


2. Reason for the dividend amount

TMC deems the benefit of its shareholders as one of its priority management policies and strives to continue to pay stable dividends with a consolidated dividend payout ratio target of 30%, while giving due consideration to factors such as business results for each term, investment plans and its cash reserves.

In order to successfully compete in this highly competitive industry, TMC will focus on the early commercialization of technologies for the next-generation environment and safety, giving priority to customer safety and sense of security.

Considering these factors, TMC determined to pay an interim dividend of 100 yen per common share.

In addition, TMC determined to pay an interim dividend of 52.50 yen per First Series Model AA Class Share in accordance with a prescribed calculation method.

[Reference Translation]

November 8, 2016

To Whom It May Concern:

 

   Company Name: TOYOTA MOTOR CORPORATION
   Name and Title of Representative:
               Akio Toyoda, President
               (Code Number: 7203
               Securities exchanges throughout Japan)
   Name and Title of Contact Person:
               Yasushi Kyoda, General Manager,
               Accounting Division
               (Telephone Number: 0565-28-2121)

Notice Concerning the Determination of Matters Relating to the Repurchase of Shares of Common Stock

(Repurchase of Shares under Articles of Incorporation pursuant to Article 165, Paragraph 2 of the Companies Act of Japan)

We hereby inform you that Toyota Motor Corporation (“TMC”) resolved at a meeting of the board of directors held on November 8, 2016 to repurchase shares of its common stock pursuant to Article 156 of the Companies Act of Japan (the “Companies Act”) as applied pursuant to Article 165, Paragraph 3 of the Companies Act.

 

1. Reason for repurchasing shares

To return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view of the business environment

 

2. Details of matters relating to repurchase

 

(1) Class of shares to be repurchased

   Common shares of TMC

(2) Total number of shares to be repurchased

   40 million shares (maximum)
   (Represents 1.31% of the total number of issued shares (excluding treasury stock))
  

*  The total number of issued shares includes class shares other than common shares. The same shall apply hereinafter.

(3) Total purchase price for repurchase of shares

   200 billion JPY (maximum)

(4) Method of repurchase

   Purchase in the market through a trust bank

(5) Period of repurchase

   From November 15, 2016 to February 14, 2017

(References) Number of treasury stock as of September 30, 2016

 

•    Total number of issued shares (excluding treasury stock):

     3,050,413,470 shares   

•    Number of treasury stock:

     334,684,022 shares   

[Reference Translation]

November 8, 2016

To Whom It May Concern:

 

   Company Name: TOYOTA MOTOR CORPORATION
   Name and Title of Representative:
               Akio Toyoda, President
               (Code Number: 7203
               Securities exchanges throughout Japan)
   Name and Title of Contact Person:
               Yasushi Kyoda, General Manager,
               Accounting Division
               (Telephone Number: 0565-28-2121)

Notice Concerning the Cancellation of Shares of Common Stock

(Cancellation of Shares pursuant to Article 178 of the Companies Act of Japan)

We hereby inform you that Toyota Motor Corporation (“TMC”) resolved at a meeting of the board of directors held on November 8, 2016 to cancel shares of its common stock pursuant to Article 178 of the Companies Act of Japan, as follows.

 

1. Class of shares to be cancelled

Common shares of TMC

 

2. Number of shares to be cancelled

75 million shares

(percentage of the total number of issued shares before the cancellation: 2.21%)

* The total number of issued shares includes class shares other than common shares. The same shall apply hereinafter.

 

3. Scheduled date of cancellation

November 30, 2016

(References)

The total number of issued shares after the cancellation will be 3,310,097,492 shares.



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