Toyota Tsusho Corporation

Equities

8015

JP3635000007

Diversified Industrial Goods Wholesale

Market Closed - Japan Exchange Other stock markets 02:00:00 2024-04-25 am EDT			5-day change	1st Jan Change
9,627 ^JPY	-2.26%		-0.02%	+15.88%

Apr. 02	Toyota Tsusho Completes Merger of Two Subsidiaries	MT
Mar. 26	LIGHTz Inc. announced that it has received ¥860 million in funding from a group of investors	CI

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

February 03, 2023 at 02:21 am EST

Outline of Consolidated Results for Third Quarter of FY2022

February 3rd, 2023 Toyota Tsusho Corporation

Outline of Consolidated Results

（Unit: Billion yen）

・Profit reached highest record due to increased automobile sales mainly in Africa, Asia/Oceania and Central South America, soaring metals market prices, European electricity prices etc..

・Operating cash flow increased due to pre-tax income, improving working capital. ・Net DER deteriorated as Eurus became a wholly owned subsidiary in the 2Q.

・Progress was steady at 87% toward the full-year forecast of 270 billion yen.

	FY2021	FY2022		Excluding
		FX Impact
Operating	1-3Q	1-3Q	VarianceYoY	(ratio)
profit	227.2	316.1	+88.9	+65.2
(+39%)	(+21%)
Profit	180.2	235.4	+55.2	+37.4
(+31%)	(+16%)
Operating C/F	32.6	180.6	＋(ratio)148.0
Investing C/F	(120.4)	(98.6)	+21.8

Oct.28,2022

Announced

FY2022 Forecast

380.0

270.0

Progress

+83%

+87%

Net interest-	Mar.31,2022	Dec.31,2022	Variance
1,238.2	1,506.7	+268.5
bearing debt
Net DER	0.71	0.81	+0.10

Oct.28,2022

FY2022 Forecast

Dividend 192yen payment

Profit Analysis 1-3Q Results（whole company）

FY2021

FY2022

（Unit︓Billion yen）

(Reference)

1-3Q

FY2022 1-3Q

Foreign Exchange Rate USD:

111yen

137yen

FY2021 1-3Q

Toyota Automotive Production

633

678

316.1 (80.7)

Main Factor of Operating Profit Variance

(47.0)

227.2

235.4

Forex Effect

Metals

+11.1

+23.8

Markets/Prices

180.2

+88.9

Others

Food & Consumer

(4.0)

+7.1

※

Demand

(Ten thousands):

+17.4

Others

Machinery, Energy& PJ

/Trading Volume

Chemi & Ele.

+8.5

※

GP & Logistics

+6.6

Food & Consumer

（0.9)

Africa

(1.4)

+27.0

Profit

Operating

Profit

Automotive

Metals

(3.2)

Outside Africa

+13.9

+25.4

Profit

+55.2

Profit

Retails

Africa

+11.5

Others

Total

+5.6

※Others

FY2021

FY2022

Variance

Main Factor of variance

+88.9

1-3Q

16.0

3.4

(12.6)

Gain on exclusion of equity for resources business in South America in pre. FY

Finance income

Loss on liquidation of gas business in Australia in pre. FY

Loss on liquidation of gas business in Canada

etc.

17.7

34.1

+16.4

Impact of increase in resources business in South America

Improving profits of overseas electric power business etc.

(61.5)

(93.6)

(32.1)

Impact of increase in profit

etc.

(19.2)

(24.7)

(5.5)

Impact of increase in profit

etc.

(47.0)

(80.7)

(33.7)

－

and costs

interestsNonTaxEquity-expensecontrollingTotalgain/Loss

One	-off	Gains and Losses (Profit)
		FY2021
		Main Factor	Result
			1-3Q

	1-3Q




	Result	・(2Q)Gain on exclusion of equity for	(1.0)
Metals	+15.0	resources business in South America,
		etc. +15.0
Global Parts		-2.0
& Logis cs
Automotive		・(2Q)Gain from liquidation of gas
		business in Australia	+9.0
	-	・(3Q)Impairment fixed-	asset of wind	-
Ene gy &	+7.0	power business in North America	(2.0)




oject r P	-			-
	-	-		+3.5
AfricaFoodChemicalsElectronics& CS&	-			+3.5

Others	(2.5)	・(2Q)Tax effect of liquidation of	gas	(5.0)
business in Australia -2.5
TOTAL	+19.5			(1.0)

FY2022 （Unit: Billion yen）

Main Factor

・(3Q) Loss on withdrawal of resources recycling business in North America -1.0


・(3Q) Impairment of gas power plant business
		in North America -2.5
・(3Q) Impairment fixed asset of wind power
		business in North America -2.0
			-
・(2Q) Acquisition cost of domestic electric
		power business -1.0
・(2Q) Gain from liquidation of gas business in Australia+1.5
・(3Q) Gain from liquidation of gas business in Canada+2.0

・(3Q)	Gain on sales of fixed asset of domestic lifestyle
		business +3.5	-

・(3Q)	Profit of divestment of mobility subsidiaries +2.5
・(2Q)	Gain from related to mobility business +0.5
・(3Q)	Gain on sales of fixed asset of
		healthcare business +0.5

・(3Q)Tax effect of liquidation of gas business in Canada -3.5・(2Q)Tax effect of liquidation of gas

business in Australia -2.5

・(1Q)Accrued interest of tax deposit in Latin America +1.0

※One-off gainsto theandnearestlosses0.are5 billionroundedyen3

Profit Analysis 1-3Q Results（Division）

（Unit: Billion yen）

FY2021

FY2022

Variance

Main Factor

1-3Q

(Ratio)

Metals

61.3

63.9

+2.6

・Impact of one-off gains in the previous year

・Higher market prices and increase in trading volume of

(+4%)

automobile production related products in Asia/Oceania

Global Parts

18.3

26.5

+8.2

・Increase in trading volume of automotive parts

& Logistics

(+45%)

in North America , Asia/Oceania and Europe

Automotive

21.3

37.3

+16.0

・Increase in sales volume handled by automotive dealerships

Energy

16.9

27.4

(+75%)

mainly in Asia/Oceania and Central South America

+10.5

・Impact of one-off gains in the previous year and one-off losses

Machinery,

(+62%)

・Rising electricity market prices in Europe

& Project

Chemicals &

32.7

39.1

+6.4

・Increase in trading volume in the in-vehicles electronics

business

Electronics

(+20%)

・Higher market prices in the Chemicals business

Food &

7.0

8.3

＋1.3

・Impact of one-off gains

Consumer

・Higher transportation costs in the food business in South

Services

（+18%)

America

Africa

22.1

33.7

+11.6

・Growth in automotive sales volume

(+52%)

・Impact of one-off gains

180.2

235.4

Others

+55.2

(+31%)

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Toyota Tsusho Corporation published this content on 03 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2023 07:17:08 UTC.

Latest news about Toyota Tsusho Corporation

Toyota Tsusho Completes Merger of Two Subsidiaries	Apr. 02	MT
LIGHTz Inc. announced that it has received ¥860 million in funding from a group of investors	Mar. 25	CI
Toyota Tsusho to Merge Two Subsidiaries	Dec. 28	MT
Toyota's Daihatsu to halt domestic production until end-Jan - Nikkei	Dec. 22	RE
Flora Co., Ltd. announced that it has received funding from Phoenixi Co., Ltd., Toyota Tsusho Corporation and other investors	Dec. 12	CI
Japan's Nikkei suffers worst week since September on hawkish BOJ bets	Dec. 08	RE
Japan's Nikkei touches 4-week low as autos stocks slump on surging yen	Dec. 07	RE
European Commission Approves India JV Between Toyota, Delta, Musashi	Dec. 05	MT
Toyota: EU approves the creation of a joint venture	Dec. 05	CF
Toyota Tsusho to Partition Metals Division, Move to Subsidiary in Absorption Split	Nov. 30	MT
SFC Energy plans to multiply sales by 2028 - share price recovers	Nov. 27	DP
ReCircled LLC, Nakano Co. Ltd and Toyota Tsusho Corporation Sign Letter of Intent to Build the Systems and Processes for Textile Upcycling and Recycling for the Asian Market	Nov. 02	CI
Bureo Inc. announced that it has received funding from Toyota Tsusho Corporation, Mirova Environment and Infrastructure, Ocean 14 Capital Ltd., Conservation International Foundation, Susquehanna Foundation	Oct. 31	CI
Toyota Tsusho Corporation Announces Dividend for the Second Quarter and Revises Dividend Guidance for the Year End for the Fiscal Year Ending March 31, 2024	23-10-31	CI
Toyota Tsusho Corporation Revises Consolidated Earnings Guidance for the fiscal year ending March 31, 2024	23-10-31	CI
Suez: cooperation with Toyota in Turkey	23-10-27	CF
Japanese Firms Evacuate Employees from Israel Amid Conflict with Hamas	23-10-17	MT
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Toyota Tsusho Revises Upward Attributable Profit and Dividend Forecast For Fiscal 2024	23-07-31	MT
Wall Street Cues, Central Bank Outlooks, Beijing Stimulus Measures Lift Asian Stock Markets	23-07-31	MT
Japan's Nikkei hits 4-week peak amid bond market calm, earnings boost	23-07-31	RE
Japan's Nikkei hits 4-week peak amid calm bond market, earnings boost	23-07-30	RE
Toyota Tsusho Corporation Revises Consolidated Earnings Guidance for the Year Ending March 31, 2024	23-07-28	CI
Toyota Tsusho Corporation Revises Dividend Guidance for the Second Quarter and Year End for the Fiscal Year Ending March 31, 2024	23-07-28	CI
Toyota Tsusho Completes Payment for 128 Million Yen Restricted Stock Compensation	23-07-24	MT

Chart Toyota Tsusho Corporation

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Company Profile

Toyota Tsusho Corporation is a diversified group organized around 7 areas of activity: - production of metal (24.1% of net sales): steel bars, flat steel, wires, pipes, aluminum, etc.; - manufacturing of chemical products and electronic components (23.2%); - production of automobile components and accessories (12.4%). Toyota Tsusho Corporation also offers logistics services and tire assembly services; - manufacturing of industrial machines equipment and gas (10.9%); - sale of vehicles (7.9%): private cars, vans, heavy vehicles and motorbikes/scooters. The group also sells spare parts and offers after-sales services; - manufacturing of food products (7.7%); - other (13.8%): sale of insurance products (life, health, accident and house), accommodation services, sale of medical equipment and services, sale of textile products and office supplies. Net sales are distributed geographically as follows: Japan (30.8%), China (14.4%), Africa (13.7%), the United States (9.8%) and other (31.3%).

Sector

Diversified Industrial Goods Wholesale

Calendar

2024-04-25 - Q4 2023 Earnings Release

Related indices

Nikkei 225

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Ratings for Toyota Tsusho Corporation

Trading Rating

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Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

9,850 JPY

Average target price

11,000 JPY

Spread / Average Target

+11.68%

Consensus

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Estimates Revisions

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Sector Diversified Industrial Goods Wholesale

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Diversified Industrial Goods Wholesale