Income Statement Toyota Tsusho Corporation

Equities

8015

JP3635000007

Diversified Industrial Goods Wholesale

Market Closed - Japan Exchange Other stock markets 01:30:00 2025-01-21 am EST			5-day change	1st Jan Change
2,636.00 ^JPY	-0.09%		-0.72%	-6.79%

Jan. 10	Engie Consortium to Expand Egyptian Wind Farm Project to 650 MW	MT
Dec. 12	Toyota Tsusho Grows Elematec Stake to 90.7% as Tender Offer Closes	MT

a4ca.Y3UgCCke1117Mc4w22FhGsDDA8Ne_CzOq3GECHpWzIk.BxsYZWhm-gRLQPl1qgkRf7evdZcdiHaK4kWxYxsHhuMsEmlLTHGRMwlapQ

Published financial data: TOYOTA TSUSHO CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	6,694B	6,309B	8,028B	9,849B	10,189B
Other Revenues, Total	1M	1M	-	-	1M
Total Revenues	6,694B	6,309B	8,028B	9,849B	10,189B
Cost of Goods Sold, Total	6,054B	5,702B	7,269B	8,880B	9,137B
Gross Profit	640B	608B	759B	969B	1,052B
Selling General & Admin Expenses, Total	381B	349B	396B	473B	524B
Provision for Bad Debts	-	-	-	-	-
Depreciation & Amortization - (IS)	49.56B	51.2B	54.7B	59.26B	59.98B
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses	-465M	-5.62B	9.06B	32.11B	20.74B
Other Operating Expenses, Total	430B	394B	459B	565B	604B
Operating Income	210B	213B	300B	404B	448B
Interest Expense, Total	-29.88B	-24.71B	-26.65B	-46.93B	-60.89B
Interest And Investment Income	31.71B	24.52B	28.04B	48.23B	56.72B
Net Interest Expenses	1.83B	-185M	1.39B	1.3B	-4.17B
Income (Loss) On Equity Invest.	-2.49B	7.52B	20.69B	37.2B	25.85B
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	15.09B	1.03B	13.91B	-134M	6.37B
EBT, Excl. Unusual Items	225B	222B	336B	442B	476B
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	1.66B	1.35B	662M	674M	3.31B
Asset Writedown	-1.48B	-1.45B	-6.4B	-15.93B	-9.65B
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	225B	221B	330B	427B	470B
Income Tax Expense	69.01B	64.98B	81.53B	112B	129B
Earnings From Continuing Operations	156B	156B	249B	315B	340B
Net Income to Company	156B	156B	249B	315B	340B
Minority Interest	-20.23B	-21.84B	-26.36B	-30.58B	-8.8B
Net Income - (IS)	136B	135B	222B	284B	331B
Net Income to Common Incl Extra Items	136B	135B	222B	284B	331B
Net Income to Common Excl. Extra Items	136B	135B	222B	284B	331B
Per Share Items
Net EPS - Basic	128.42	127.52	210.54	269.19	313.98
Basic EPS - Continuing Operations	128.42	127.52	210.54	269.19	313.98
Basic Weighted Average Shares Outstanding	1.06B	1.06B	1.06B	1.06B	1.06B
Net EPS - Diluted	128.42	127.52	210.54	269.19	313.98
Diluted EPS - Continuing Operations	128.42	127.52	210.54	269.19	313.98
Diluted Weighted Average Shares Outstanding	1.06B	1.06B	1.06B	1.06B	1.06B
Normalized Basic EPS	113.83	110.47	173.9	232.96	273.47
Normalized Diluted EPS	113.83	110.47	173.9	232.96	273.47
Dividend Per Share	36.67	37.33	53.33	67.33	93.33
Payout Ratio	28.57	26.15	20.91	23.05	24.54
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	314B	318B	411B	533B	588B
EBITA	210B	213B	300B	404B	448B
EBIT	210B	213B	300B	404B	448B
EBITDAR	325B	328B	421B	544B	601B
Effective Tax Rate - (Ratio)	30.7	29.35	24.7	26.31	27.55
Normalized Net Income	120B	117B	184B	246B	289B
Non-Cash Pension Expense	953M	996M	831M	1.41B	2.71B
Supplemental Operating Expense Items
Selling and Marketing Expenses	41.75B	41.73B	48.16B	60.26B	69.7B
Research And Development Expense From Footnotes	-	-	-	-	-
Net Rental Expense, Total	11.36B	10.39B	10.42B	10.94B	12.88B
Imputed Operating Lease Interest Expense	1.74B	1.23B	1.21B	2.02B	2.97B
Imputed Operating Lease Depreciation	9.61B	9.16B	9.21B	8.92B	9.91B

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	496B	677B	653B	772B	879B
Total Cash And Short Term Investments	496B	677B	653B	772B	879B
Accounts Receivable, Total	1,252B	1,405B	1,797B	1,730B	1,798B
Total Receivables	1,252B	1,405B	1,797B	1,730B	1,798B
Inventory	784B	841B	1,161B	1,227B	1,204B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	286B	300B	347B	339B	316B
Total Current Assets	2,818B	3,223B	3,958B	4,069B	4,197B
Net Property Plant And Equipment	781B	841B	942B	1,004B	1,139B
Long-term Investments	766B	982B	1,034B	1,083B	1,399B
Goodwill	73.56B	76.96B	82.01B	113B	199B
Other Intangibles, Total	87.55B	85.58B	100B	71.24B	76.41B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	19.44B	19.77B	27.07B	36.84B	49.82B
Other Long-Term Assets, Total	6M	5M	5M	4M	5M
Total Assets	4,545B	5,228B	6,143B	6,377B	7,060B
Liabilities
Accounts Payable, Total	1,141B	1,318B	1,704B	1,637B	1,644B
Accrued Expenses, Total	-	-	-	-	-
Short-term Borrowings	378B	434B	569B	580B	396B
Current Portion of Long-Term Debt	125B	138B	172B	167B	230B
Current Portion of Leases	-	-	-	-	-
Current Income Taxes Payable	22.76B	24.68B	31.55B	49.13B	57.11B
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	212B	234B	249B	244B	268B
Total Current Liabilities	1,878B	2,149B	2,726B	2,677B	2,596B
Long-Term Debt	1,108B	1,157B	1,202B	1,373B	1,474B
Long-Term Leases	-	-	-	-	-
Pension & Other Post Retirement Benefits	41.97B	43.37B	44.36B	46.15B	42.05B
Deferred Tax Liability Non Current	47.08B	116B	113B	121B	202B
Other Non Current Liabilities	97.82B	105B	115B	91.87B	126B
Total Liabilities	3,173B	3,570B	4,200B	4,309B	4,440B
Common Stock, Total	64.94B	64.94B	64.94B	64.94B	64.94B
Additional Paid In Capital	150B	147B	156B	43.81B	43.12B
Retained Earnings	1,025B	1,125B	1,300B	1,527B	1,820B
Treasury Stock	-3.74B	-3.76B	-3.77B	-3.75B	-3.77B
Comprehensive Income and Other	-39.8B	136B	217B	283B	543B
Total Common Equity	1,197B	1,470B	1,735B	1,914B	2,467B
Minority Interest	176B	188B	208B	154B	153B
Total Equity	1,372B	1,658B	1,943B	2,069B	2,620B
Total Liabilities And Equity	4,545B	5,228B	6,143B	6,377B	7,060B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.06B	1.06B	1.06B	1.06B	1.06B
ECS Total Common Shares Outstanding	1.06B	1.06B	1.06B	1.06B	1.06B
Book Value / Share	1.13K	1.39K	1.64K	1.81K	2.34K
Tangible Book Value	1,036B	1,307B	1,553B	1,730B	2,192B
Tangible Book Value Per Share	981.04	1.24K	1.47K	1.64K	2.08K
Total Debt	1,611B	1,728B	1,943B	2,119B	2,100B
Net Debt	1,114B	1,051B	1,290B	1,348B	1,221B
Debt Equivalent of Unfunded Proj. Benefit Obligation	33.8B	25.55B	19.87B	20.95B	-6.47B
Debt Equivalent Oper. Leases	90.86B	83.12B	83.34B	87.54B	103B
Minority Interest, Total (Incl. Fin. Div)	176B	188B	208B	154B	153B
Equity Method Investments, Total	266B	269B	274B	299B	353B
Inventories - Raw Materials, Total	30.43B	30.38B	48.65B	59B	53.82B
Inventories - Work In Process, Total	10.6B	9.73B	12.25B	15.95B	11.59B
Inventories - Finished Goods, Total	743B	801B	1,100B	1,152B	1,138B
Inventories - Others	1M	1M	-	1M	1M
Full Time Employees	66.07K	64.4K	65.22K	66.94K	69.52K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	225B	221B	330B	427B	470B
Depreciation & Amortization - CF	104B	104B	111B	129B	140B
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	104B	104B	111B	129B	140B
(Gain) Loss From Sale Of Asset	-184M	98M	5.74B	15.26B	6.34B
(Income) Loss On Equity Investments - (CF)	2.49B	-7.52B	-20.69B	-37.2B	-25.85B
Other Operating Activities, Total	-73.77B	-53.74B	-97.72B	-82B	-99.49B
Change In Accounts Receivable	124B	-126B	-318B	129B	8.18B
Change In Inventories	-31.79B	-29.53B	-261B	-3.85B	121B
Change In Accounts Payable	-99.38B	140B	307B	-132B	-126B
Change in Other Net Operating Assets	17.82B	-4.08B	-5.72B	-1.21B	49.07B
Cash from Operations	268B	245B	50.14B	444B	542B
Capital Expenditure	-104B	-124B	-136B	-161B	-175B
Sale of Property, Plant, and Equipment	9.06B	16.54B	10.35B	17.17B	25.8B
Cash Acquisitions	-29.24B	-86M	-633M	-4.56B	-94.34B
Divestitures	2.14B	-250M	370M	7.04B	7.52B
Sale (Purchase) of Intangible assets	-13.24B	-12.74B	-31.3B	-19.77B	-23.26B
Investment in Marketable and Equity Securities, Total	-47.64B	11.85B	-9.93B	11.8B	28.15B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-1.04B	-2.11B	-1.08B	399M	6.1B
Other Investing Activities, Total	9.84B	8.95B	10.66B	8.99B	5.47B
Cash from Investing	-174B	-102B	-157B	-140B	-220B
Short Term Debt Issued, Total	-	44.07B	94.34B	-	-
Long-Term Debt Issued, Total	167B	180B	179B	278B	277B
Total Debt Issued	167B	224B	273B	278B	277B
Short Term Debt Repaid, Total	-31.72B	-	-	-11.03B	-219B
Long-Term Debt Repaid, Total	-93.68B	-122B	-139B	-167B	-182B
Total Debt Repaid	-125B	-122B	-139B	-178B	-402B
Repurchase of Common Stock	-139M	-25M	-31M	-20M	-55M
Common & Preferred Stock Dividends Paid	-38.73B	-35.2B	-46.47B	-65.48B	-81.33B
Common & Preferred Stock Dividends Paid	-38.73B	-35.2B	-46.47B	-65.48B	-81.33B
Other Financing Activities, Total	-56.4B	-42.85B	-42.75B	-241B	-56.86B
Cash from Financing	-53.68B	24.07B	44.9B	-207B	-263B
Foreign Exchange Rate Adjustments	-9.71B	14.15B	37.83B	20.9B	47.81B
Miscellaneous Cash Flow Adjustments	-1M	-	1M	-2M	-1M
Net Change in Cash	30.51B	181B	-24.46B	119B	107B
Supplemental Items
Cash Interest Paid	30.39B	24.45B	26.25B	45.33B	59.97B
Cash Income Tax Paid (Refund)	74.66B	65.05B	102B	115B	135B
Levered Free Cash Flow	110B	63.34B	-237B	124B	202B
Unlevered Free Cash Flow	129B	78.78B	-220B	154B	240B
Change In Net Working Capital	-10.63B	21.72B	352B	47.01B	-18.27B
Net Debt Issued / Repaid	41.59B	102B	134B	99.69B	-125B

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	2.92	2.73	3.3	4.03	4.17
Return on Total Capital	4.47	4.18	5.15	6.26	6.29
Return On Equity %	11.28	10.32	13.81	15.69	14.51
Return on Common Equity	11.33	10.1	13.87	15.57	15.13
Margin Analysis
Gross Profit Margin %	9.56	9.63	9.46	9.84	10.33
SG&A Margin	5.69	5.53	4.93	4.81	5.14
EBITDA Margin %	4.69	5.03	5.12	5.41	5.77
EBITA Margin %	3.14	3.38	3.74	4.1	4.4
EBIT Margin %	3.14	3.38	3.74	4.1	4.4
Income From Continuing Operations Margin %	2.33	2.48	3.1	3.2	3.34
Net Income Margin %	2.02	2.13	2.77	2.89	3.25
Net Avail. For Common Margin %	2.02	2.13	2.77	2.89	3.25
Normalized Net Income Margin	1.79	1.85	2.29	2.5	2.83
Levered Free Cash Flow Margin	1.64	1	-2.95	1.26	1.98
Unlevered Free Cash Flow Margin	1.92	1.25	-2.75	1.56	2.36
Asset Turnover
Asset Turnover	1.49	1.29	1.41	1.57	1.52
Fixed Assets Turnover	9.61	7.78	9.01	10.12	9.51
Receivables Turnover (Average Receivables)	5.05	4.75	5.01	5.58	5.78
Inventory Turnover (Average Inventory)	7.92	7.02	7.26	7.44	7.52
Short Term Liquidity
Current Ratio	1.5	1.5	1.45	1.52	1.62
Quick Ratio	0.93	0.97	0.9	0.93	1.03
Operating Cash Flow to Current Liabilities	0.14	0.11	0.02	0.17	0.21
Days Sales Outstanding (Average Receivables)	72.45	76.86	72.79	65.37	63.37
Days Outstanding Inventory (Average Inventory)	46.21	51.99	50.26	49.09	48.69
Average Days Payable Outstanding	70.3	77.92	72.69	68.16	65.88
Cash Conversion Cycle (Average Days)	48.36	50.93	50.36	46.29	46.18
Long Term Solvency
Total Debt/Equity	117.34	104.25	99.99	102.46	80.15
Total Debt / Total Capital	53.99	51.04	50	50.61	44.49
LT Debt/Equity	80.7	69.78	61.86	66.36	56.24
Long-Term Debt / Total Capital	37.13	34.16	30.93	32.78	31.22
Total Liabilities / Total Assets	69.8	68.29	68.37	67.56	62.89
EBIT / Interest Expense	7.03	8.63	11.25	8.61	7.36
EBITDA / Interest Expense	10.5	12.85	15.41	11.36	9.66
(EBITDA - Capex) / Interest Expense	7.03	7.82	10.32	7.93	6.78
Total Debt / EBITDA	5.13	5.44	4.73	3.98	3.57
Net Debt / EBITDA	3.55	3.31	3.14	2.53	2.08
Total Debt / (EBITDA - Capex)	7.67	8.95	7.06	5.7	5.08
Net Debt / (EBITDA - Capex)	5.31	5.44	4.69	3.62	2.96
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-1.01	-5.75	27.24	22.68	3.46
Gross Profit, 1 Yr. Growth %	0.23	-5.04	24.95	27.61	8.62
EBITDA, 1 Yr. Growth %	6.24	1.2	29.37	29.76	10.34
EBITA, 1 Yr. Growth %	-4.16	1.41	40.69	34.72	10.87
EBIT, 1 Yr. Growth %