EX-99.1 2 d498626dex991.htm ANNOUNCEMENT REGARDING THE SUBSIDIARY'S NON-CONSOLIDATED FINANCIAL RESULTS announcement regarding the Subsidiary's Non-Consolidated Financial Results

[Reference Translation]

April 26, 2023

To Whom It May Concern:

 

    Company Name: TOYOTA MOTOR CORPORATION
    Name and Title of Representative:
   

Akio Toyoda, Chairman of the Board of Directors

   

(Code Number: 7203

   

Prime of Tokyo Stock Exchange and

   

Premier of Nagoya Stock Exchange)

    Name and Title of Contact Person:
   

Yoshihide Moriyama, General Manager,

   

Capital Strategy & Affiliated Companies Finance Div.

   

(Telephone Number: 0565-28-2121)

Notice of the Difference in Non-Consolidated Financial Results of our

Consolidated Subsidiary from the Previous Fiscal Year

We hereby inform you of the difference in non-consolidated financial results of our consolidated subsidiary, Hino Motors, Ltd. for the fiscal year ended March 31, 2023 compared with the previous fiscal year.

The impact of this matter on our forecasts of consolidated results is expected to be immaterial.

Fiscal Year Ended March 31, 2023 (April 1, 2022 – March 31, 2023)

Fiscal Year Ended March 31, 2022 (April 1, 2021 – March 31, 2022)

 

    (% of change from previous year.)  
    Net sales     Operating income     Ordinary income     Profit  
    Millions of yen     %     Millions of yen     %     Millions of yen     %     Millions of yen     %  

FY2023

     832,061       -3.7       -15,761       —       -25,743       —       -119,189       —  

FY2022

     863,642       —       -3,003       —       11,611       —       -88,599       —  

For the reason for the difference, please refer to the attached Hino Motors, Ltd. disclosure below.

Financial Results for the Fiscal Year Ended March 31, 2023

[Japanese GAAP] (Consolidated)

     LOGO  
English translation from the original Japanese-language document
         April 26, 2023  
Name of Listed Company   :    Hino Motors, Ltd.     Stock Listing: Tokyo and Nagoya  
Code Number   :    7205  
URL   :    http://www.hino.co.jp/  
Representative   :    Satoshi Ogiso, President & CEO, Member of the Board of Directors

 

Contact Point   :    Yoshiki Ohno, General Manager, Corporate Communications Dept., Public Affairs Div.

 

Phone   :    (042) 586-5494  
Scheduled Date of Annual Meeting of Shareholders   :    June 27, 2023  
Scheduled Date of Financial Statements Filing   :    June 27, 2023  
Scheduled Date of Dividend Payment Start   :    —  
Supplementary materials for Financial Results   :    Yes  
Investor conference for Financial Results   :    Yes (For Mass Media and Analysts)  

(Amounts are rounded down to the nearest one million yen)

 

1.

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 – March 31, 2023)

 

(1)

Consolidated Financial Results

 

    (% of change from previous year.)  
    Net sales     Operating income     Ordinary income     Profit attributable to
owners of parent		  
    Millions of yen     %     Millions of yen     %     Millions of yen     %     Millions of yen     %  

FY 2023

     1,507,336       3.3       17,406       -48.5       17,587       -58.4       -117,664       —  

FY 2022

     1,459,706       —       33,810       —       37,986       —       -84,732       —  

 

(Note)   Comprehensive income FY 2023: ¥ -78,297 million (—%) FY 2022: ¥ -74,716 million (—%)

 

     Profit per share      Diluted Profit
per share		      Return on equity      Ordinary income
to total assets		      Operating income
to net sales		  
     Yen      Yen      %      %      %  

FY 2023

      -204.98        —        -28.5        1.2        1.2  

FY 2022

      -147.61        —        -16.7        3.1        2.3  

 

(Reference)    Equity in earnings of affiliated companies:     FY 2023: ¥-900 million FY 2022: ¥186 million
(Note)    The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29; March 31, 2020), etc. were applied from the beginning of the previous consolidated accounting period. Accordingly, the figures for the fiscal year ending March 2022 reflect said accounting standard, etc., and increase/decrease rates from the previous year are not indicated.

 

(2)

Consolidated Financial Position

 

     Total assets      Net assets      Equity ratio      Net assets per share  
     Millions of yen      Millions of yen      %      Yen  

FY 2023

      1,361,735        433,409        27.0        640.94  

FY 2022

      1,258,350        516,007        36.4        798.17  

 

(Reference) Equity capital:            FY 2023: ¥367,914 million            FY 2022: ¥458,169 million

 

(3)

Consolidated Cash Flows

 

     Cash flows from
operating activities		      Cash flows from
investing activities		      Cash flows from
financing activities		      Cash and cash
equivalents
at end of year		  
     Millions of yen      Millions of yen      Millions of yen      Millions of yen  

FY 2023

      -40,799        -60,257        114,208        75,683  

FY 2022

      106,711        -62,181        -39,147        62,662  

 

2.

Dividends

 

     Dividends per share      Total
dividends
(annual)		      Dividends
payout ratio
(consolidated)		      Dividends on
net assets
(consolidated)		  
     1Q      2Q      3Q      Year-end      Annual  
     Yen      Yen      Yen      Yen      Yen      Millions of Yen      %      %  

FY 2022

      —        10.00        —        0.00        10.00        5,741        —        1.1  

FY 2023

      —        0.00        —        0.00        0.00        —        —        —  

FY 2024 (forecast)

      —        —        —        —        —           —     

 

(Note)   Due to some uncertain events at present, the year-end and annual dividend forecasts for FY2024 have not been determined.

3.

Forecasts of Consolidated Financial Results for the Fiscal Year Ending March 31, 2023 (April 1, 2023 – March 31, 2024)

 

   

(% of change from FY2023)

   

Net sales

    

Operating income

    

Ordinary income

    

Profit attributable to
owners of parent

    

Profit
per share

    Millions of yen   %     Millions of yen   %     Millions of yen   %     Millions of yen   %     Yen

FY 2024

   1,700,000     12.8     20,000     14.9     15,000     -5.0     10,000     —     17.42

*Notes

(1)

Changes in significant subsidiaries (changes of specified subsidiaries resulting in changes in scope of consolidation) during the current term: None

 

(2)

Changes in accounting policies, accounting estimates and restatements:

 

  1)

Changes in accounting policies due to revisions of accounting standards: None

 

  2)

Changes in accounting policies due to reasons other than above 1): None

 

  3)

Changes in accounting estimates: None

 

  4)

Restatements: None

 

(3)

Number of outstanding shares (common stock)

 

  1)

Number of outstanding shares (including treasury stock) at end of term

 

   

FY 2023    574,580,850 shares FY 2022    574,580,850 shares

 

  2)

Number of treasury stock at end of term

 

   

FY 2023    554,114 shares FY 2022    553,582 shares

 

  3)

Average number of shares

 

   

FY 2023    574,027,093 shares FY 2022    574,027,580 shares

(Reference) Overview of Non-Consolidated Financial Results

 

1.

Non-Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 – March 31, 2023)

 

(1)

Non-Consolidated Financial Results

 

    (% of change from previous year.)  
    Net sales     Operating income     Ordinary income     Profit  
    Millions of yen     %     Millions of yen     %     Millions of yen     %     Millions of yen     %  

FY 2023

     832,061       -3.7       -15,761       —       -25,743       —       -119,189       —  

FY 2022

     863,642       —       -3,003       —       11,611       —       -88,599       —  

 

     Profit per share      Diluted Profit per share  
     Yen      Yen  

FY 2023

      -207.59        —  

FY 2022

      -154.31        —  

 

(Note)   The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29; March 31, 2020), etc. were applied from the beginning of the previous accounting period. Accordingly, the figures for the fiscal year ending March 2022 reflect said accounting standard, etc., and increase/decrease rates from the previous year are not indicated.

 

(2)

Non-Consolidated Financial Position

 

     Total assets      Net assets      Equity ratio      Net assets per share  
     Millions of yen      Millions of yen      %      Yen  

FY 2023

      832,468        195,566        23.5        340.62  

FY 2022

      780,850        309,968        39.7        539.87  

 

(Reference) Equity capital:             FY 2023: ¥195,566 million             FY 2022: ¥309,968 million

<Reasons for the difference in non-consolidated results from the previous fiscal year>

In FY2023, our company saw operating loss worsening, due to the skyrocketing prices of materials in addition to the impact of the suspension of shipment caused by the misconduct of our company. In non-consolidated financial results, we posted ¥32,031 million as the provision of allowance for doubtful accounts accompanying the loans receivable from consolidated subsidiaries in the section of non-operating expenses, so ordinary loss worsened. For details, please refer to “3 Consolidated Financial Statements and Major Notes (5) Notes to Consolidated Financial Statements (Additional Information)” on page 14 of the attachment.

 

*

Summary of financial results is out of scope of audit by Certified Public Accountants or Audit companies.

 

*

Statement regarding the proper use of financial forecasts and other remarks

Descriptions regarding the future, including the financial projections contained in this report, are based on certain assumptions currently available to the Company, which are, at the discretion of the Company, deemed reasonable, and the Company gives no guarantees that it will achieve these results. In addition, actual financial results may significantly vary due to various factors.