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MarketScreener Homepage  >  Equities  >  Tokyo  >  Toyota Industries Corporation    6201   JP3634600005

TOYOTA INDUSTRIES CORPORATION

(6201)
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Billions of euros, millions of jobs: Europe's carmakers warn on no-deal Brexit

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09/22/2019 | 06:19pm EDT
Cars readied for export are parked next to a vehicle storage facility on the dockside at the ABP port in Southampton

BERLIN (Reuters) - A month before Britain is due to quit the European Union, the bloc's car-makers have joined forces to warn of billions of euros in losses in the event of a no-deal Brexit with production stoppages costing 50,000 pounds a minute in Britain alone.

Britain is scheduled to quit the EU on October 31 but businesses have grown increasingly concerned at Prime Minister Boris Johnson's apparent lack of progress towards a new withdrawal deal to replace the proposals of his predecessor Theresa May, which the British parliament rejected three times.

In a statement, groups including the European Automobile Manufacturers' Association, the European Association of Automotive Suppliers and 17 national groups warned of the impact of "no-deal" on an industry which employs 13.8 million people in the European Union including Britain, or 6.1% of the workforce.

"The UK's departure from the EU without a deal would trigger a seismic shift in trading conditions, with billions of euros of tariffs threatening to impact consumer choice and affordability on both sides of the Channel," they wrote in Monday's statement.

"The end of barrier-free trade could bring harmful disruption to the industry's just-in-time operating model, with the cost of just one minute of production stoppage in the UK alone amounting to €54,700 (£50,000)."

If the two sides revert to World Trade Organisation trading rules, the likely consequence of a disorderly Brexit, the groups warned that the necessary tariffs will add 5.7 billion euros to the EU-Britain car trade bill.

The European car industry is dependent on heavily integrated cross-border supply chains, which rely for their effectiveness on a zero-tariff, almost border-free environment within the EU's custom union.

Britain's car industry, which is almost entirely foreign-owned, is exceptionally vulnerable, as it is dominated by factories owned by German, French and Japanese auto makers.

(Reporting by Thomas Escritt; editing by James Drummond)

Stocks mentioned in the article
ChangeLast1st jan.
BMW AG 0.20% 64.91 Delayed Quote.-8.37%
DAIMLER AG 0.01% 47.065 Delayed Quote.2.50%
EURO / BRITISH POUND (EUR/GBP) 0.33% 0.87675 Delayed Quote.-1.50%
HONDA MOTOR CO., LTD. 2.30% 2828.5 End-of-day quote.1.02%
PEUGEOT -0.87% 22.83 Real-time Quote.23.52%
TOSHIBA CORPORATION 0.55% 3660 End-of-day quote.20.79%
TOYOTA INDUSTRIES CORPORATION 1.33% 6110 End-of-day quote.24.19%
VOLKSWAGEN AG 0.21% 161.84 Delayed Quote.16.25%
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Financials (JPY)
Sales 2020 2 283 B
EBIT 2020 146 B
Net income 2020 159 B
Debt 2020 1 040 B
Yield 2020 2,62%
P/E ratio 2020 11,9x
P/E ratio 2021 11,3x
EV / Sales2020 1,29x
EV / Sales2021 1,18x
Capitalization 1 897 B
Technical analysis trends TOYOTA INDUSTRIES CORPORAT
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 6 761,54  JPY
Last Close Price 6 110,00  JPY
Spread / Highest target 30,9%
Spread / Average Target 10,7%
Spread / Lowest Target -6,71%
EPS Revisions
Managers
NameTitle
Akira Onishi President & Representative Director
Tetsuro Toyoda Chairman
Kazue Sasaki Representative Director, VP & GM-Technology
Taku Yamamoto Director & Senior Managing Executive Officer
Yojiro Mizuno Director & Senior Managing Executive Officer
Sector and Competitors
1st jan.Capitalization (M$)
TOYOTA INDUSTRIES CORPORATION24.19%17 476
TOYOTA MOTOR CORPORATION17.62%186 770
VOLKSWAGEN AG16.25%89 295
DAIMLER AG2.50%55 632
GENERAL MOTORS COMPANY6.34%50 784
BMW AG-8.37%46 220