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TOYOTA MOTOR CORPORATION, First Half Net Income Decreases by 26%, The Undetermined Dividend to Rise by 15 yen

Wed Nov 6, 2024 1:55 pm JST Earnings

7203 TOYOTA MOTOR CORPORATION 【IFRS】

Earnings Report

TOYOTA MOTOR CORPORATION <7203> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 6th (13:55). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 26.4% from the same period last year to 1.9 trillion yen. However, The progress rate against the 3.57 trillion yen full-year plan was 53.4%, also surpassing the five-year average of 47.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 29.4% from the same period last year to 1.66 trillion yen.

At the same time, the company has decided to implement a annual dividend of 90 yen for the current fiscal year, which was previously undecided (compared to 75 yen in the prior term).

In the most recent three-month period, from July to September (2Q), the consolidated net income significantly dropped to 573 billion yen, a 55.1% decrease compared to the same period last year. The operating profit margin decreased from 12.6% in the same period last year to 10.1%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 17,709,348 1,141,444 1,834,276 1,171,084 85.4 50.0 Nov 1, 2022 IFRS
Apr - Sep, 2023 21,981,617 2,559,294 3,521,525 2,589,428 191.3 50.6 Nov 1, 2023 IFRS
Apr - Sep, 2024 23,282,450 2,464,217 2,732,069 1,907,113 142.2 54.9 Nov 6, 2024 IFRS
YoY +5.9% -3.7% -22.4% -26.4% -25.7%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance ー ー ー ー － － May 8, 2024 IFRS
Apr - Sep, 2024 Results 23,282,450 2,464,217 2,732,069 1,907,113 142.2 40 Nov 6, 2024 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 46,000,000 4,300,000 5,070,000 3,570,000 273.3 － May 8, 2024 IFRS
Mar, 2025 New 46,000,000 4,300,000 4,980,000 3,570,000 273.3 90 Nov 6, 2024 IFRS
Revision Rate 0.0% 0.0% -1.8% 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 23,113,708 2,793,640 3,443,560 2,355,505 174.3 45 May 8, 2024 IFRS
Oct - Mar, 2024 Guidance 22,717,550 1,835,783 2,247,931 1,662,887 127.3 50 Nov 6, 2024 IFRS
YoY -1.7% -34.3% -34.7% -29.4% -27.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 37,154,298 2,725,025 3,668,733 2,451,318 179.5 60 May 10, 2023 IFRS
Mar, 2024 45,095,325 5,352,934 6,965,085 4,944,933 365.9 75 May 8, 2024 IFRS
Mar, 2025 Guidance 46,000,000 4,300,000 4,980,000 3,570,000 273.3 90 Nov 6, 2024 IFRS
YoY +2.0% -19.7% -28.5% -27.8% -25.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 11,434,786 1,438,394 1,800,972 1,278,056 94.4 12.6 Nov 1, 2023 IFRS
Oct - Dec, 2023 12,041,103 1,680,944 1,835,540 1,357,814 100.4 14.0 Feb 6, 2024 IFRS
Jan - Mar, 2024 11,072,605 1,112,696 1,608,020 997,691 73.8 10.0 May 8, 2024 IFRS
Apr - Jun, 2024 11,837,879 1,308,462 1,872,258 1,333,347 99.0 11.1 Aug 1, 2024 IFRS
Jul - Sep, 2024 11,444,571 1,155,755 859,811 573,766 42.8 10.1 Nov 6, 2024 IFRS
YoY +0.1% -19.6% -52.3% -55.1% -54.7%

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