REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
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* |
American Depositary Receipts evidence American Depositary Shares, each American Depositary Share representing two shares of the registrant’s Common Stock. |
** |
No par value. Not for trading, but only in connection with the registration of American Depositary Shares, pursuant to the requirements of the U.S. Securities and Exchange Commission. |
☒ |
Accelerated filer ☐ |
Non-accelerated filer ☐ | ||
Emerging growth company |
† |
The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012. |
ITEM 1. |
1 |
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ITEM 2. |
1 |
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ITEM 3. |
1 |
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3.A |
1 |
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3.B |
4 |
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3.C |
4 |
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3.D |
4 |
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ITEM 4. |
8 |
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4.A |
8 |
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4.B |
8 |
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4.C |
50 |
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4.D |
51 |
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ITEM 4A. |
52 |
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ITEM 5. |
52 |
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5.A |
52 |
|||||
5.B |
83 |
|||||
5.C |
85 |
|||||
5.D |
88 |
|||||
5.E |
88 |
|||||
5.F |
89 |
|||||
5.G |
90 |
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ITEM 6. |
90 |
|||||
6.A |
90 |
|||||
6.B |
97 |
|||||
6.C |
100 |
|||||
6.D |
102 |
|||||
6.E |
102 |
|||||
ITEM 7. |
103 |
|||||
7.A |
103 |
|||||
7.B |
104 |
|||||
7.C |
105 |
|||||
ITEM 8. |
105 |
|||||
8.A |
105 |
|||||
8.B |
105 |
|||||
ITEM 9. |
105 |
|||||
9.A |
105 |
|||||
9.B |
105 |
|||||
9.C |
106 |
|||||
9.D |
106 |
|||||
9.E |
106 |
|||||
9.F |
106 |
|||||
ITEM 10. |
106 |
|||||
10.A |
106 |
|||||
10.B |
106 |
|||||
10.C |
114 |
|||||
10.D |
114 |
10.E |
118 |
|||||
10.F |
124 |
|||||
10.G |
124 |
|||||
10.H |
125 |
|||||
10.I |
125 |
|||||
ITEM 11. |
125 |
|||||
ITEM 12. |
126 |
|||||
12.A |
126 |
|||||
12.B |
126 |
|||||
12.C |
126 |
|||||
12.D |
127 |
|||||
ITEM 13. |
128 |
|||||
ITEM 14. |
128 |
|||||
ITEM 15. |
128 |
|||||
ITEM 16. |
129 |
|||||
ITEM 16A. |
129 |
|||||
ITEM 16B. |
129 |
|||||
ITEM 16C. |
130 |
|||||
ITEM 16D. |
131 |
|||||
ITEM 16E. |
131 |
|||||
ITEM 16F. |
132 |
|||||
ITEM 16G. |
132 |
|||||
ITEM 16H. |
135 |
|||||
ITEM 17. |
136 |
|||||
ITEM 18. |
136 |
|||||
ITEM 19. |
137 |
ITEM |
1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS |
ITEM |
2. OFFER STATISTICS AND EXPECTED TIMETABLE |
I |
TEM 3. KEY INFORMATION |
Year Ended March 31, |
||||||||||||||||||||
2016 |
2017 |
2018 |
2019 |
2020 |
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(Yen in millions, except share and per share data) |
||||||||||||||||||||
Consolidated Statement of Income Data: |
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Automotive: |
||||||||||||||||||||
Revenues |
¥ | 25,977,416 |
¥ | 25,081,847 |
¥ | 26,397,940 |
¥ | 27,079,077 |
¥ | 26,863,514 |
||||||||||
Operating income |
2,448,998 |
1,692,973 |
2,011,135 |
2,038,884 |
2,052,346 |
|||||||||||||||
Financial Services: |
||||||||||||||||||||
Revenues |
1,896,224 |
1,823,600 |
2,017,008 |
2,153,547 |
2,190,559 |
|||||||||||||||
Operating income |
339,226 |
222,428 |
285,546 |
322,821 |
292,183 |
|||||||||||||||
All Other: |
||||||||||||||||||||
Revenues |
1,177,387 |
1,321,052 |
1,646,118 |
1,676,377 |
1,504,550 |
|||||||||||||||
Operating income |
66,507 |
81,327 |
100,812 |
105,538 |
96,655 |
|||||||||||||||
Elimination of intersegment: |
||||||||||||||||||||
Revenues |
(647,909 |
) | (629,306 |
) | (681,556 |
) | (683,320 |
) | (628,631 |
) | ||||||||||
Operating income |
(760 |
) | (2,356 |
) | 2,369 |
302 |
1,685 |
|||||||||||||
Total Company: |
||||||||||||||||||||
Revenues |
28,403,118 |
27,597,193 |
29,379,510 |
30,225,681 |
29,929,992 |
|||||||||||||||
Operating income |
2,853,971 |
1,994,372 |
2,399,862 |
2,467,545 |
2,442,869 |
|||||||||||||||
Income before income taxes and equity in earnings of affiliated companies |
2,983,381 |
2,193,825 |
2,620,429 |
2,285,465 |
2,554,607 |
|||||||||||||||
Net income attributable to Toyota Motor Corporation |
2,312,694 |
1,831,109 |
2,493,983 |
1,882,873 |
2,076,183 |
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Net income attributable to Toyota Motor Corporation per common share (yen): |
||||||||||||||||||||
Basic |
741.36 |
605.47 |
842.00 |
650.55 |
735.61 |
|||||||||||||||
Diluted |
735.36 |
599.22 |
832.78 |
645.11 |
729.50 |
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Shares used in computing net income attributable to Toyota Motor Corporation per common share, basic (in thousands) |
3,111,306 |
3,008,088 |
2,947,365 |
2,871,534 |
2,798,918 |
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Shares used in computing net income attributable to Toyota Motor Corporation per common share, diluted (in thousands) |
3,144,947 |
3,055,826 |
2,994,766 |
2,918,674 |
2,846,018 |
Year Ended March 31, |
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2016 |
2017 |
2018 |
2019 |
2020 |
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(Yen in millions, except per share and numbers of vehicles sold data) |
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Consolidated Balance Sheet Data (end of period): |
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Total Assets: |
47,427,597 |
48,750,186 |
50,308,249 |
51,936,949 |
52,680,436 |
|||||||||||||||
Short-term debt, including current portion of long-term debt |
8,521,088 |
9,244,131 |
9,341,190 |
9,599,233 |
9,860,071 |
|||||||||||||||
Long-term debt, less current portion |
9,772,065 |
9,911,596 |
10,006,374 |
10,550,945 |
10,692,898 |
|||||||||||||||
Toyota Motor Corporation shareholders’ equity |
16,746,935 |
17,514,812 |
18,735,982 |
19,348,152 |
20,060,618 |
|||||||||||||||
Common stock |
397,050 |
397,050 |
397,050 |
397,050 |
397,050 |
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Other Data: |
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Dividends per share (yen) |
¥ | 210.0 |
¥ | 210.0 |
¥ | 220.0 |
¥ | 220.0 |
¥ | 220.0 |
||||||||||
Number of vehicles sold |
||||||||||||||||||||
Japan |
2,059,093 |
2,273,962 |
2,255,313 |
2,226,177 |
2,239,549 |
|||||||||||||||
North America |
2,839,229 |
2,837,334 |
2,806,467 |
2,745,047 |
2,713,165 |
|||||||||||||||
Europe |
844,412 |
924,560 |
968,077 |
994,060 |
1,028,537 |
|||||||||||||||
Asia |
1,344,836 |
1,587,822 |
1,542,806 |
1,684,494 |
1,604,870 |
|||||||||||||||
Other* |
1,593,758 |
1,347,182 |
1,391,731 |
1,327,017 |
1,372,302 |
|||||||||||||||
Worldwide total |
8,681,328 |
8,970,860 |
8,964,394 |
8,976,795 |
8,958,423 |
|||||||||||||||
* | “Other” consists of Central and South America, Oceania, Africa and the Middle East, etc. |
Cash Dividends per Common Share |
||||||||
Period Ended |
Yen |
U.S. dollars |
||||||
September 30, 2014 |
75.0 |
0.68 |
||||||
March 31, 2015 |
125.0 |
1.04 |
||||||
September 30, 2015 |
100.0 |
0.83 |
||||||
March 31, 2016 |
110.0 |
0.97 |
||||||
September 30, 2016 |
100.0 |
0.98 |
||||||
March 31, 2017 |
110.0 |
0.98 |
||||||
September 30, 2017 |
100.0 |
0.88 |
||||||
March 31, 2018 |
120.0 |
1.12 |
||||||
September 30, 2018 |
100.0 |
0.88 |
||||||
March 31, 2019 |
120.0 |
1.08 |
||||||
September 30, 2019 |
100.0 |
0.92 |
||||||
March 31, 2020 |
120.0 |
1.10 |
ITEM |
4. INFORMATION ON THE COMPANY |
Yen in millions |
||||||||||||
Year Ended March 31, |
||||||||||||
2018 |
2019 |
2020 |
||||||||||
Automotive |
26,347,229 |
27,034,492 |
26,834,485 |
|||||||||
Financial Services |
1,959,234 |
2,120,343 |
2,170,243 |
|||||||||
All Other |
1,073,047 |
1,070,846 |
925,264 |
Yen in millions |
||||||||||||
Year Ended March 31, |
||||||||||||
2018 |
2019 |
2020 |
||||||||||
Japan |
9,273,672 |
9,520,148 |
9,522,905 |
|||||||||
North America |
10,347,266 |
10,585,934 |
10,416,582 |
|||||||||
Europe |
2,940,243 |
3,055,654 |
3,138,755 |
|||||||||
Asia |
4,497,374 |
4,832,392 |
4,828,635 |
|||||||||
Other* |
2,320,955 |
2,231,553 |
2,023,115 |
* | “Other” consists of Central and South America, Oceania, Africa and the Middle East. |
• | social, political and economic conditions; |
• | introduction of new vehicles and technologies; and |
• | costs incurred by customers to purchase and operate automobiles. |
• | Safety is Toyota’s highest priority, and Toyota will continue to provide world-class safety. |
• | Toyota will also continue to contribute to environmental quality and to human happiness by using leading environmental technology and by deploying that technology in a growing line of vehicle models. At the same time, Toyota will work through the provision of products, sales and services that exceed customer expectation to offer a rewarding experience for customers. |
• | Toyota has been consistently true to its founding spirit of serving society through conscientious manufacturing, and it will continue working in that spirit to contribute to enhance the quality of life wherever it has operations. |
• | Toyota will strive to continue contributing to economic vitality wherever it has operations by generating stable employment and by participating in mutually beneficial business relationships with dealers and suppliers. It will also strive to continue to actively engage in initiatives for human resources development and the promotion of cultural activities of its host communities. |
• | Toyota will lead the industry in technological development that will spawn next-generation mobility. For example, it will explore possibilities in personal mobility and in the convergence of information technology for automobiles and “smart grids” for optimizing energy generation and consumption. Toyota will strive to offer products and services that match the needs in each market. |