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

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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	272.3	－	May 8, 2024	IFRS
Mar, 2025 New	46,000,000	4,300,000	4,980,000	3,570,000	272.3	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	126.9	50	Nov 6, 2024	IFRS
YoY	-1.7%	-34.3%	-34.7%	-29.4%	-27.2%

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	272.3	90	Nov 6, 2024	IFRS
YoY	+2.0%	-19.7%	-28.5%	-27.8%	-25.6%

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%