Toyota Tsusho : Outline of Consolidated Results for Second Quarter of FY2022

Outline of Consolidated Results for Second Quarter of FY2022

October 28th, 2022

Toyota Tsusho Corporation

Outline of Consolidated Results

・Profit reached record highest due to increased automobile sales, soaring metals market prices, European electricity prices.

・Operating cash flow increased due to pre-tax income, while investing cash flow remained steady. ・Net DER deteriorated as Eurus became a wholly owned subsidiary.

・Revised full-year forecast to 270 billion yen and annual dividend forecast to 192 yen, up 32 yen from the previous year (Plus 30 compared to the initial)

	FY2021	FY2022	YoY	Excluding
	Variance	FX Impact
（Unit：Billion yen）	1-2Q	1-2Q	(ratio)	(ratio)
Operating	149.4	207.9	+58.5	+43.7
profit	(+39%) (+29%)
Profit	127.5	151.2	+23.7	+12.8
(+19%)	(+10%)
Operating C/F	31.8	78.7	＋46.9
Investing C/F	(90.5)	(62.1)	+28.4
	Mar.31,2022	Sep.30,2022	Variance
Net interest-	1,238.2	1,560.6	+322.4
bearing debt
Net DER	0.71	0.84	+0.13

Forecasts	Current
Announced on
Release	Progress
Jul.29.2022

310.0 380.0 +55%

210.0

270.0

+56%

Revised

Dividend dividend forecast Variance

payment

162yen 192yen +30yen

1

Profit Analysis 1-2Q Results（whole company）	FY2021 FY2022
								(Reference)		1-2Q	1-2Q
（Unit：Billion yen）						Foreign Exchange Rate USD: 110yen 134yen
FY2021 1-2Q			FY2022 1-2Q	Toyota Automotive Production(Ten thousands):	408	448
					207.9(56.7)			Main Factor of Operating Profit Variance
(21.9)	149.4			151.2	Forex Effect			+14.8
		Markets/Prices	Metals	+12.5
								+9.2
127.5				+58.5	Others			Food & Consumer	(3.3)
					Demand Machinery, Energy&PJ	+10.9
				※
	Others							/Trading Volume	Chemi & Ele.	+4.7
	※								GP & Logistics	+2.5
									Africa	+0.2
								Food & Consumer	(1.1)	+15.6
									Metals	(1.6)
Profit	Operating			Operating	Profit	Automotive	Outside Africa	+10.5
		Retails	Africa	+8.3	+18.8
		Profit	+23.7	Profit
						Others			+0.1
※Others	FY2021	FY2022					Total	+58.5
1-2Q		1-2Q	Variance			Main Factor of variance

Finance income and	15.5	4.4	(11.1)	Gain on exclusion of equity for resources business in South America in pre FY
costs	Loss on liquidation of gas business in Australia in pre FY etc.
Equity gain/Loss	11.7	19.6	+7.9	Impact of increase in resources business in South America
Improving profits of overseas electric power business etc.
Tax expense	(36.2)	(61.2)	(25.0)	Impact of increase in profit	etc.
Non- controlling
(12.9)	(19.5)	(6.6)	Impact of increase in profit	etc.
interests
	(21.9)	(56.7)
Total	(34.8)	－

2

One-off Gains and Losses (Profit)	（Unit: Billion yen）

		FY2021				FY2022
	1-2Q	Main Factor			1-2Q	Main Factor
	Result			Result
Metals	+15.0	・(2Q)Gain on exclusion of equity for	-
resources business in South America,	-
		etc. +15.0
Global Parts	-	-			-	-
& Logistics
Automotive	-	-			-	-
Machinery,		・(2Q)Gain from liquidation of	gas		・(2Q)Gain from liquidation of gas
+9.0	+0.5	Business in Australia +1.5
Energy
business in Australia +9.0			・(2Q) Acquisition cost of
& Project
					domestic electric power business	-1.0
Chemicals &	-	-			-	-
Electronics
Food &	-				-
Consumer	-			-
Services
Africa	-	-			+0.5	・(2Q) Profit related to mobility
						business +0.5
		・(2Q)Tax effect of liquidation of	gas		・(2Q)Tax effect of liquidation of gas
Others	(2.5)	(1.5)	business in Australia -2.5
business in Australia -2.5			・(1Q)Accrued interest of tax deposit in
						Latin America +1.0
TOTAL	+21.5				(0.5)
					※One-off gains and losses are rounded to the nearest 0.5 billion yen

3

Profit Analysis 1-2Q Results（Division）

（Unit: Billion yen）

FY2021

FY2022

Variance

Main Factor

1-2Q

1-2Q

(Ratio)

+0.9

・Impact of one-off gains in the previous year

44.4

45.3

Metals

・Higher market prices and increase in trading volume of

(+2%)

automobile production related products in Asia / Oceania

Global Parts

12.7

16.3

+3.6

・Increase in trading volume of automotive parts

& Logistics

(+28%)

in North America and Asia / Oceania

Automotive

12.5

23.1

+10.6

・Increase in sales volume handled

(+85%)

by overseas automotive dealerships mainly in Asia / Oceania

Machinery,

18.0

19.4

+1.4

・Impact of one-off gains in the previous year

Energy

& Project

(+8%） ・Rising electricity market prices in Europe.

22.1

25.3

Chemicals &

+3.2

・Increase in trading volume in the electronics business

Electronics

(+15%)

・Higher market prices in the Chemicals business

Food &

4.9

2.8

(2.1)

・Higher transportation costs in the food business in South

Consumer

Services

（-43%)

America

Africa

13.9

20.3

+6.4

・Growth in automotive sales volume

(+46%)

Others

127.5

151.2

+23.7

(19%)

4