Toyota(TM) - 2024 Q4 - Annual Results

Financial Performance - FY2024 sales revenues reached 45,095,325 million yen, a 21.4% increase from FY2023[6] - Operating income for FY2024 was 5,352,934 million yen, up 96.4% compared to FY2023[6] - Net income attributable to Toyota Motor Corporation in FY2024 was 4,944,933 million yen, a 101.7% increase from FY2023[6] - Forecasted sales revenues for FY2025 are 46,000,000 million yen, a 2.0% increase from FY2024[10] - Forecasted operating income for FY2025 is 4,300,000 million yen, a 19.7% decrease from FY2024[10] - Net income attributable to Toyota Motor Corporation for FY2025 is forecasted at 3,570,000 million yen, a 27.8% decrease from FY2024[10] - Sales revenues increased by 7,941.0 billion yen (21.4%) to 45,095.3 billion yen in FY2024, with operating income rising by 2,627.9 billion yen (96.4%) to 5,352.9 billion yen[21] - Consolidated sales revenues grew from 37,154,298 million yen in FY2023 to 45,095,325 million yen in FY2024, a 21.4% increase[67][68] - Operating income expanded from 2,725,025 million yen in FY2023 to 5,352,934 million yen in FY2024, a 96.4% rise[67][68] - FY2024 consolidated sales revenues reached 45,095.3 billion yen, with a forecast of 46,000.0 billion yen for FY2025[79] - Operating income for FY2024 was 5,352.9 billion yen, with a forecast of 4,300.0 billion yen for FY2025[79] - Net income attributable to Toyota Motor Corporation for FY2024 was 4,944.9 billion yen, with a forecast of 3,570.0 billion yen for FY2025[79] Assets and Liabilities - Total assets for FY2024 were 90,114,296 million yen, up from 74,303,180 million yen in FY2023[6] - Cash and cash equivalents at the end of FY2024 were 9,412,060 million yen, compared to 7,516,966 million yen in FY2023[7] - Total shareholders' equity for FY2024 was 35,239,338 million yen, up from 29,264,213 million yen in FY2023[6] - Total assets increased from 74,303,180 million yen to 90,114,296 million yen, a growth of 21.3%[39] - Cash and cash equivalents increased from 7,516,966 million yen to 9,412,060 million yen, up by 25.2%[39] - Total current liabilities rose from 23,959,715 million yen to 29,177,909 million yen, an increase of 21.8%[40] - Retained earnings grew from 28,343,296 million yen to 32,795,365 million yen, up by 15.7%[40] - Total shareholders' equity increased from 29,264,213 million yen to 35,239,338 million yen, a growth of 20.4%[40] - Total assets increased from 74,303,180 million yen in 2023 to 90,114,296 million yen in 2024, reflecting a growth of 21.3%[58] - Total liabilities increased from 45,038,967 million yen in 2023 to 54,874,958 million yen in 2024, a 21.8% rise[59] - Shareholders' equity rose from 29,264,213 million yen in 2023 to 35,239,338 million yen in 2024, up 20.4%[59] - Total assets for FY2024 amounted to 90,114.2 billion yen[80] Segment Performance - Automotive operations sales revenues increased by 7,446.2 billion yen (22.0%) to 41,266.2 billion yen, with operating income rising by 2,440.8 billion yen (111.9%) to 4,621.4 billion yen[22] - Financial services sales revenues increased by 674.5 billion yen (24.0%) to 3,484.1 billion yen, with operating income rising by 132.5 billion yen (30.3%) to 570.0 billion yen[23] - North America sales revenues increased by 4,099.1 billion yen (29.6%) to 17,943.0 billion yen, with operating income rising by 581.0 billion yen to 506.3 billion yen[26] - Europe sales revenues increased by 1,408.0 billion yen (32.9%) to 5,681.7 billion yen, with operating income rising by 330.6 billion yen (575.4%) to 388.0 billion yen[27] - Operating income for the Financial Services segment grew to 570,023 million yen in FY2024, compared to 437,516 million yen in FY2023[54][55] - Total assets for the Financial Services segment increased to 43,834,183 million yen in FY2024, up from 35,525,441 million yen in FY2023[54][55] - Revenues from external customers in the Automotive segment rose to 41,080,731 million yen in FY2024, compared to 33,776,870 million yen in FY2023[54][55] - Depreciation and amortization expenses for the Automotive segment increased to 1,268,479 million yen in FY2024, up from 1,205,687 million yen in FY2023[54][55] - Automotive segment sales revenues for FY2024 were 41,266.2 billion yen, with operating income of 4,621.4 billion yen[79] - North America sales revenues for FY2024 were 17,943.0 billion yen, with operating income of 506.3 billion yen[79] - Europe sales revenues for FY2024 were 5,681.7 billion yen, with operating income of 388.0 billion yen[79] - Asia (excluding Japan) sales revenues for FY2024 were 8,730.7 billion yen, with operating income of 865.5 billion yen[79] Cash Flow and Dividends - Annual cash dividends per common share for FY2024 increased to 75.00 yen, up from 60.00 yen in FY2023[8] - Cash and cash equivalents increased by 1,895.0 billion yen (25.2%) to 9,412.0 billion yen at the end of FY2024[30] - Net cash provided by operating activities rose to 4,206,373 million yen in FY2024, compared to 2,955,076 million yen in FY2023[50] - Dividends paid to Toyota Motor Corporation common shareholders increased to 880,197 million yen in FY2024, up from 727,980 million yen in FY2023[50] - Cash dividends for FY2024 totaled 1,011.7 billion yen, with a payout ratio of 20.4%[79] - Value of shares repurchased for FY2024 was 231.0 billion yen, with an additional 1,099.9 billion yen for shareholder return[79] Vehicle Sales and Production - Consolidated vehicle unit sales increased by 621 thousand units (7.0%) to 9,443 thousand units in FY2024, with overseas sales rising by 697 thousand units (10.3%) to 7,450 thousand units[20] - Vehicle production for Toyota in FY2024 reached 9,263 thousand units, up from 8,694 thousand units in FY2023[78] - Vehicle sales for Toyota in FY2024 totaled 9,443 thousand units, with a forecast of 9,500 thousand units for FY2025[78] - Toyota's North America vehicle sales increased to 2,816 thousand units in FY2024, up from 2,407 thousand units in FY2023[78] - Toyota's Europe vehicle sales rose to 1,192 thousand units in FY2024, compared to 1,030 thousand units in the previous year[78] - Toyota's Asia vehicle sales grew to 1,804 thousand units in FY2024, with a forecast of 1,940 thousand units for FY2025[78] - Toyota's total retail unit sales for FY2024 reached 11,090 thousand units, with a forecast of 10,950 thousand units for FY2025[78] Investments and Expenditures - Capital expenditures for the Automotive segment increased to 2,011,361 million yen in FY2024, up from 1,688,114 million yen in FY2023[54][55] - R&D expenses for FY2024 totaled 1,202.3 billion yen, with a forecast of 1,300.0 billion yen for FY2025[80] - Depreciation expenses for FY2024 were 1,248.4 billion yen, projected to increase to 1,380.0 billion yen in FY2025[80] - Capital expenditures for FY2024 reached 2,010.8 billion yen, with an expected rise to 2,150.0 billion yen in FY2025[80] - Additions to public and corporate bonds and stocks surged from 503,977 million yen in FY2023 to 2,639,166 million yen in FY2024, a 423.7% jump[63] Shareholder Information - Earnings per share increased from 179.47 yen to 365.94 yen, a growth of 103.9%[43] - Comprehensive income surged from 3,320,681 million yen to 7,188,523 million yen, up by 116.5%[45] - Toyota's shareholders' equity per share increased to ¥2,539.75 as of March 31, 2024, from ¥2,089.08 in the previous year[71] - Toyota plans to repurchase up to 410,000,000 common shares with a maximum total purchase price of ¥1,000,000 million between May 9, 2024, and April 30, 2025[74] Regional Performance - North America sales revenues rose from 13,843,901 million yen in FY2023 to 17,943,072 million yen in FY2024, a 29.6% increase[67][68] - Asia operating income grew from 714,451 million yen in FY2023 to 865,591 million yen in FY2024, a 21.2% rise[67][68] Other Financial Metrics - Net income rose from 2,492,967 million yen to 5,071,421 million yen, a significant increase of 103.5%[43] - Sales revenues grew from 37,154,298 million yen to 45,095,325 million yen, up by 21.4%[43] - Operating income doubled from 2,725,025 million yen to 5,352,934 million yen, an increase of 96.4%[43] - Net income for the year ended March 31, 2024, was 5,071,421 million yen, a significant increase from 2,492,967 million yen in the previous year[50] - Total shareholders' equity increased to 35,239,338 million yen as of March 31, 2024, up from 29,264,213 million yen the previous year[48] - Net income for non-financial services businesses rose from 2,188,893 million yen in 2023 to 4,657,913 million yen in 2024, a 112.7% increase[61] - Financial services business net income grew from 297,600 million yen in 2023 to 420,000 million yen in 2024, up 41.1%[61] - Consolidated net income increased from 2,492,967 million yen in 2023 to 5,071,421 million yen in 2024, a 103.5% rise[61] - Current assets for non-financial services businesses grew from 14,996,926 million yen in 2023 to 19,936,887 million yen in 2024, up 32.9%[58] - Sales revenues for non-financial services businesses increased from 34,409,011 million yen in 2023 to 41,832,663 million yen in 2024, a 21.6% growth[61] - Operating income for non-financial services businesses surged from 2,285,980 million yen in 2023 to 4,791,453 million yen in 2024, up 109.6%[61] - Financial services business operating income grew from 437,516 million yen in 2023 to 570,023 million yen in 2024, a 30.3% increase[61] - Net income increased from 2,188,893 million yen in FY2023 to 4,657,913 million yen in FY2024, representing a 112.8% growth[63] - Net cash provided by operating activities rose from 3,682,203 million yen in FY2023 to 6,970,082 million yen in FY2024, an 89.3% increase[63] - Toyota's net income for the year ended March 31, 2024, increased to ¥4,944,933 million, up from ¥2,451,318 million in the previous year[70] - Basic and diluted earnings per share for Toyota rose to ¥365.94 in FY2024, compared to ¥179.47 in FY2023[70] - Return on Equity (ROE) for FY2024 was 15.8%, while Return on Assets (ROA) was 6.0%[80] - Marketing efforts contributed 2,000.0 billion yen to consolidated net income for FY2024[80] - Effects of changes in exchange rates added 685.0 billion yen to consolidated net income for FY2024[80] - Cost reduction efforts contributed 120.0 billion yen to consolidated net income for FY2024[80] - The number of consolidated subsidiaries increased from 569 in FY2023 to 577 in FY2024[80]