Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Summary of Consolidated Financial Results | |
for the Fiscal Year Ended March 31, 2020 | |
(under IFRS) | |
April 30, 2020 | |
Company name: | Toyoda Gosei Co., Ltd. |
Listing: | Tokyo Stock Exchange and Nagoya Stock Exchange |
Securities code: | 7282 |
URL: | http://www.toyoda-gosei.co.jp |
Representative: | Naoki Miyazaki, President |
Inquiries: | Toshio Goto, General Manager of Finance and Accounting Division |
TEL: | +81-52-400-5131 |
Scheduled date of ordinary general meeting of shareholders: | June 12, 2020 | |
Scheduled date to file Securities Report: | June 17, 2020 | |
Scheduled date to commence dividend payments: | June 15, 2020 | |
Preparation of supplementary material on financial results: | Yes | |
Holding of financial results meeting: | Yes | (for institutional investors and analysts) |
(Amounts less than one million yen are rounded down) |
1. Consolidated financial results for the fiscal year ended March 31, 2020 (from April 1, 2019 to March 31, 2020)
(1) Consolidated operating results | Percentages indicate year-on-year changes | |||||||||||||||||
Revenue | Operating profit | Profit before tax | Profit | |||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||||||||||
Year ended March 31, 2020 | 812,937 | (3.3) | 17,888 | (51.0) | 16,106 | (56.9) | 13,841 | (47.0) | ||||||||||
Year ended March 31, 2019 | 840,714 | 4.1 | 36,525 | 3.8 | 37,356 | 5.2 | 26,111 | 6.5 | ||||||||||
Profit attributable to | Total comprehensive | |||||||||||||||||
owners of parent | income | |||||||||||||||||
Millions of yen | % | Millions of yen | % | |||||||||||||||
Year ended March 31, 2020 | 11,226 | (51.8) | 111 | (99.6) | ||||||||||||||
Year ended March 31, 2019 | ||||||||||||||||||
23,309 | 9.1 | 26,261 | 8.6 | |||||||||||||||
Basic earnings | Diluted earnings | Ratio of profit to | Ratio of profit | Ratio of operating | ||||||||||
equity attributable to | before tax to total | |||||||||||||
per share | per share | profit to revenue | ||||||||||||
owners of parent | assets | |||||||||||||
Yen | Yen | % | % | % | ||||||||||
Year ended March 31, 2020 | 86.74 | - | 3.2 | 2.3 | 2.2 | |||||||||
Year ended March 31, 2019 | 180.09 | - | 6.7 | 5.4 | 4.3 | |||||||||
Note: Share of profit of investments accounted for using equity method: | ||||||||||||||
Fiscal year ended March 31, 2020: | ¥913 millions; | Fiscal year ended March 31, 2019: | ¥854 millions | |||||||||||
(2) Consolidated financial position | ||||||||||||||
Ratio of equity | Equity attributable | |||||||||||||
Equity attributable | attributable to | |||||||||||||
Total assets | Total equity | to owners of parent | ||||||||||||
to owners of parent | owners of parent to | |||||||||||||
total assets | per share | |||||||||||||
Millions of yen | Millions of yen | Millions of yen | % | Yen | ||||||||||
As of March 31, 2020 | 709,185 | 370,275 | 345,070 | 48.7 | 2,665.98 | |||||||||
As of March 31, 2019 | 708,129 | 380,145 | 50.0 | 2,735.89 | ||||||||||
354,120 | ||||||||||||||
(3) Consolidated cash flows
Net cash provided by | Net cash used in | Net cash used in | Cash and cash equivalents | |||||||
operating activities | investing activities | financing activities | at end of year | |||||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | |||||||
Year ended March 31, 2020 | 65,247 | (54,174) | 12,525 | 127,930 | ||||||
Year ended March 31, 2019 | 57,463 | (55,491) | 7,749 | 107,311 | ||||||
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2. Cash dividends
Annual dividends per share | Ratio of dividends | ||||||||
Total cash | Dividend payout | to equity | |||||||
First | Second | Third | dividends (Total) | (Consolidated) | attributable to | ||||
Fiscal year-end | Total | owners of parent | |||||||
quarter-end | quarter-end | quarter-end | |||||||
(consolidated) | |||||||||
Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | ||
Year ended March 31, 2019 | - | 30.00 | - | 30.00 | 60.00 | 7,766 | 33.3 | 2.2 | |
Year ended March 31, 2020 | - | 30.00 | - | 30.00 | 60.00 | 7,767 | 69.2 | 2.2 | |
Year ending March 31, 2021 | - | - | - | - | - | - | |||
(Forecast) | |||||||||
(Note)Dividend forecasts are yet to be determined. |
3. Consolidated earnings forecasts for the fiscal year ending March 31, 2021 (from April 1, 2020 to March 31, 2021) Consolidated earnings forecasts are yet to be determined as it is difficult to make rational estimates due to impact of
COVID-19.
- Notes
- Changes in significant subsidiaries during the year ended March 31, 2020
(changes in specified subsidiaries resulting in the change in scope of consolidation): | Yes |
Consolidation(new): Toyoda Gosei Kyushu Co., Ltd. | |
Eliminated: Toyoda Gosei Meteor GmbH | |
(2) Changes in accounting policies and changes in accounting estimates | |
Changes in accounting policies required by IFRS: | Yes |
Changes in accounting policies due to other reasons: | None |
Changes in accounting estimates: | None |
(3) Number of issued shares (ordinary shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2020 | 130,010,011 | shares | As of March 31, 2019 | 130,010,011 | shares | |
Number of treasury shares at the end of the period | ||||||
As of March 31, 2020 | 575,292 | shares | As of March 31, 2019 | 574,900 | shares | |
Average number of shares during the period | ||||||
Year ended March 31, 2020 | 129,434,956 | shares | Year ended March 31, 2019 | 129,435,386 | shares |
- Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
- Proper use of earnings forecasts, and other special matters
Consolidated earnings forecasts are yet to be disclosed as it is difficult to make reasonable calculations at present.
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1.Overview of Business Results (1)Analysis of Business Results
(Business results for the fiscal year under review)
The global economy was on a moderate recovery path in the first half of the fiscal year under review, but slowed in the second half due to heightened uncertainty about an increase in trade barriers, such as the rise in customs tariffs in the US and China.
In Japan, economic growth was soft in the first half of the fiscal year, and slowed in the second half due to the impact of the consumption tax hike, large typhoons, and other natural disasters.
In the automobile industry, sales in Japan exceeded five million units for the third straight year, in part due to the launch of new models by major customers. However, global sales fell year on year for the second straight year as the US market peaked and consumer sentiment in China worsened due to factors such as trade friction between the US and China.
In late 2019, the novel coronavirus (COVID-19) emerged in China and then spread worldwide from early 2020 to become a global pandemic. The subsequent imposition of travel restrictions between countries, lockdowns implemented in various countries, production stoppages due to supply-chain disruptions, major cooling of consumer sentiment, and other factors resulted in a sharp slowdown in the economy and automobile market, both in Japan and overseas.
Against this backdrop, the Group is focusing on the three pillars of activity we have determined to achieve the medium- to long-term management plan, the "2025 Business Plan" announced in May 2018.
Our first pillar of activity is to "Venture into innovation and actions for new mobility," where we are working to achieve early commercialization in new, unexplored areas using innovative technology. First, we exhibited our next-generation dielectric e-Rubber for the first time in January 2020 at the CES 2020 consumer electronics trade show in Las Vegas, USA, and introduced our haptic technology (technology that can create an experience of touch) that fuses tactile hands and augmented reality. We will continue to aim for business development in various fields such as medical care and entertainment.
Next, to meet demands for CASE (connected, autonomous, shared, electric), we actively invested in startup companies through the Corporate Venture Capital department (CVC) we established in-house in the previous fiscal year, and accelerated development of new technology, such as module development related to interior and exterior products. In addition, we will continue to focus on vertical GaN power semiconductors, which take advantage of technology and technological know-how cultivated from the development and production of blue LEDs, as well as focusing on the development of products to respond to the changes that cars are undergoing, thereby further promoting the commercialization of new technology and new products.
Our second pillar of activity is "Strategy for growing markets/fields." The Americas is a growing market that supports the Group's revenue, and we accordingly built a second R&D facility and sales base in the US state of Ohio. By positioning design and sales functions in the proximity of customers, we plan to accelerate the development of interior and exterior products and airbags, and further expand sales of new products.
In addition, we decided to increase the production capacity of large molding machines and coating equipment at three manufacturing subsidiaries in the central and southern United States (TG Missouri Corporation; TG Kentucky, LLC; and Toyoda Gosei Texas, LLC) in order to expand the market area of large interior and exterior products. We will strive to further increase our revenue while actively investing in growing markets.
In China, which is the world's largest automobile market and is expected to continue growing, we decided to expand the factory and production facilities of Hubei Toyoda Gosei Zheng Ao Rubber & Plastics Sealing Science and Technology Co., Ltd. with the aim of expanding our business in inland areas.
To meet the growing demand for airbags globally, and position this as our next growth field, Toyoda Gosei Haiphong Co., Ltd. in Vietnam started production at its second base, the Thai Binh Plant, and we plan to expand the plant further in 2021.
We are also actively expanding sales of high-added value products to domestic and overseas customers. These include plastic fuel filler pipes, plastic turbo ducts, and other plastic parts that are lightweight and help contribute to the environmental performance of automobiles, as well as millimeter-wave compatible emblems that meld design and functionality, and plated products with an emphasis on superior design.
Under our third pillar of activity, "Innovative manufacturing at production sites," we have worked on automating the inspection process and other activities to realize labor-saving gains, and using IoT technology to reduce losses. In regards to automation for labor-saving, we designed the plastic fuel filler pipe production process in the new building of the Heiwacho Plant as an "automated model plant," and started operations in May of last year. Our IoT technology initiatives included using big-data analysis to reduce defect losses, and decreasing losses from facility
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stoppages by constantly monitoring the production status of our in-house inflators. To improve the productivity of the entire Group, we plan to roll this technology out across all product areas within the company as well as to affiliated companies.
In addition to the three pillars of activity, we have been working on reforming our earnings structure to achieve sustainable growth. We believe that the transfer of all shares of Toyoda Gosei Meteor GmbH (hereinafter, "TGM"), the production subsidiary in Germany, in December last year represents a breakthrough for such structural reform, and should contribute to the enhancement of corporate value going forward.
As a result, revenue for the fiscal year under review decreased to ¥812.9 billion (down 3.3% year on year) due to the foreign exchange effects from a weak dollar and weak yuan and the fall in the number of automobiles produced as a result of the spread of COVID-19 from early 2020.
With regard to profits, operating profit decreased to ¥17.8 billion (down 51.0% year on year) and profit attributable to owners of parent decreased to ¥11.2 billion (down 51.8% year on year) as a result of the effects of lower sales caused by COVID-19 as well as the effects of the loss on business liquidation of TGM, the production subsidiary in Germany. Furthermore, the exchange rate for the fiscal year under review was ¥109 to US$1 compared to ¥111 to US$1 in the previous fiscal year. Results by segment are as follows.
(i)Japan
Revenue came to ¥405.1 billion (down 0.5% year on year) mainly due to the effects of COVID-19.
As for profits, segment loss came to ¥5.0 billion (in comparison with a segment profit of ¥11.0 billion in the previous fiscal year) mainly due to the recording of loss on business liquidation resulting from the transfer of all shares of TGM, the production subsidiary in Germany, in the third quarter and the effects of lower sales caused by COVID-19.
(ii)Americas
Revenue came to ¥243.5 billion (down 2.2% year on year) mainly due to the effects of lower sales caused by COVID-19 and foreign exchange effects in March of this year and thereafter despite higher sales to Japanese and foreign-affiliated car manufacturers until February.
As for profits, the segment profit came to ¥16.6 billion (down 5.1% year on year) mainly due to the effects of lower sales caused by COVID-19.
(iii)Asia
Revenue came to ¥188.2 billion (down 5.8% year on year) mainly due to the effects of COVID-19, mainly in China, despite an increase in the number of automobiles produced by major customers in China up to January of this year.
As for profits, the segment profit came to ¥10.6 billion (down 17.0% year on year) mainly due to the effects of lower sales in China caused by COVID-19 and lower sales in Thailand as a result of weakness in the market.
(iv)Europe and Africa
Revenue came to ¥36.5 billion (down 20.4% year on year). As for profits, we were able to reduce the segment loss to ¥4.2 billion (in comparison with a segment loss of ¥4.7 billion in the previous fiscal year) mainly as a result of excluding TGM, the production subsidiary in Germany, from consolidation in the third quarter.
(Outlook for the next fiscal year)
Due to the effects of COVID-19, it is difficult to accurately determine at this time the number of automobiles our customers will produce.
Accordingly, the consolidated results forecasts for the next fiscal year are yet to be determined.
The Company will disclose the consolidated results forecasts for the fiscal year ending March 31, 2021 once it is reasonably possible to forecast the results.
4
(2)Analysis of Financial Position (i)Assets, Liabilities and Equity
Total assets at the end of the fiscal year under review rose by ¥1.0 billion from the end of the previous fiscal year to ¥709.1 billion, primarily as a result of increases in property, plant and equipment. Liabilities increased by ¥10.9 billion from the end of the previous fiscal year to ¥338.9 billion, mainly due to a rise in borrowings, etc.
Equity decreased by ¥9.8 billion from the end of the previous fiscal year to ¥370.2 billion, mainly due to a decrease in other components of equity.
(ii)Cash Flows
Cash and cash equivalents at the end of the fiscal year under review rose by ¥20.6 billion over the ¥107.3 billion recorded at the end of the previous fiscal year, to ¥127.9 billion.
The various cash flows during the fiscal year under review, and the factors driving them, are discussed below. (Cash flows from operating activities)
Net cash flows provided by operating activities rose from ¥57.4 billion in the previous fiscal year to ¥65.2 billion, an increase in inflows of ¥7.7 billion. This was caused by such factors as a decrease in trade and other receivables.
(Cash flows from investing activities)
Net cash flows used in investing activities came to ¥54.1 billion in outflows, a decrease of ¥1.3 billion from the ¥55.4 billion in outflows recorded in the previous fiscal year. This was caused by such factors as a decrease in purchase of property, plant and equipment, and intangible assets.
(Cash flows from financing activities)
Net cash flows provided by financing activities rose from ¥7.7 billion in the previous fiscal year to ¥12.5 billion, an increase in inflows of ¥4.7 billion. This was caused by such factors as a decrease in repayments of long-term borrowings.
(3)Basic Policy on Distribution of Profits and Dividends for the Fiscal Year Under Review and the Next Fiscal Year
While working to strengthen and enhance the corporate structure in order to raise corporate value, the Company promotes the development of the business with the aim of achieving steady growth. With regard to dividends of surplus, our basic policy is to maintain a stable dividend, and the Company seeks to respond to the expectations of shareholders having given comprehensive consideration to such factors as results of operations, demand for funds and dividend payout ratio.
With regard to dividends from surplus for the fiscal year under review, an interim dividend of ¥30 per share was implemented on November 26, 2019, to which the Company intends to add a year-end dividend of ¥30 per share, if the relevant resolution is approved at the 97th ordinary general meeting of shareholders, for a total of ¥60 per share.
The dividend for the next fiscal year is yet to be determined at this time as it is difficult to forecast the consolidated financial results for the fiscal year. The Company will disclose the dividend amount once it becomes possible to disclose the consolidated results forecasts for the fiscal year ending March 31, 2021.
5
Condensed Consolidated Financial Statements
(1) Condensed Consolidated Statement of Financial Position
(Millions of yen) | ||
As of March 31, 2019 | As of March 31, 2020 | |
Assets | ||
Current assets | ||
Cash and cash equivalents | 107,311 | 127,930 |
Trade and other receivables | 179,791 | 142,062 |
Other financial assets | 10,824 | 8,364 |
Inventories | 63,647 | 63,925 |
Other current assets | 20,531 | 17,282 |
Total current assets | 382,106 | 359,565 |
Non-current assets | ||
Property, plant and equipment | 257,728 | 273,479 |
Intangible assets | 2,327 | 3,741 |
Other financial assets | 39,190 | 32,244 |
Investments accounted for using | 13,897 | 14,252 |
equity method | ||
Retirement benefit asset | 3,722 | 2,603 |
Deferred tax assets | 5,434 | 14,473 |
Other non-current assets | 3,722 | 8,824 |
Total non-current assets | 326,023 | 349,619 |
Total assets | 708,129 | 709,185 |
6
(Millions of yen) | ||
As of March 31, 2019 | As of March 31, 2020 | |
Liabilities and equity | ||
Liabilities | ||
Current liabilities | ||
Trade and other payables | 140,660 | 119,083 |
Borrowings | 32,396 | 44,657 |
Other financial liabilities | 6,216 | 8,335 |
Income taxes payable | 3,221 | 1,585 |
Provisions | 1,499 | 1,881 |
Other current liabilities | 10,313 | 5,110 |
Total current liabilities | 194,309 | 180,653 |
Non-current liabilities | ||
Bonds and borrowings | 93,089 | 103,399 |
Other financial liabilities | 348 | 13,466 |
Retirement benefit liability | 34,320 | 34,615 |
Provisions | 115 | 107 |
Deferred tax liabilities | 3,558 | 4,158 |
Other non-current liabilities | 2,242 | 2,507 |
Total non-current liabilities | 133,674 | 158,256 |
Total liabilities | 327,983 | 338,909 |
Equity | ||
Share capital | 28,027 | 28,027 |
Capital surplus | 26,968 | 26,968 |
Treasury shares | (1,219) | (1,220) |
Other components of equity | 14,674 | 2,233 |
Retained earnings | 285,669 | 289,061 |
Total equity attributable to owners of parent | 354,120 | 345,070 |
Non-controlling interests | 26,024 | 25,204 |
Total equity | 380,145 | 370,275 |
Total liabilities and equity | 708,129 | 709,185 |
7
- Condensed Consolidated Statement of Profit or Loss and Condensed Consolidated Statement of Comprehensive Income (Condensed Consolidated Statement of Profit or Loss)
(Millions of yen) | ||
Fiscal year ended | Fiscal year ended | |
March 31, 2019 | March 31, 2020 | |
Revenue | 840,714 | 812,937 |
Cost of sales | (737,352) | (712,436) |
Gross profit | 103,362 | 100,501 |
Selling, general and administrative expenses | (62,387) | (61,523) |
Other income | 4,279 | 2,328 |
Other expenses | (8,728) | (23,417) |
Operating profit | 36,525 | 17,888 |
Finance income | 2,669 | 2,843 |
Finance costs | (2,692) | (5,538) |
Share of profit of investments accounted for using equity method | 854 | 913 |
Profit before tax | 37,356 | 16,106 |
Income tax expense | (11,245) | (2,265) |
Profit | 26,111 | 13,841 |
Profit attributable to | ||
Owners of parent | 23,309 | 11,226 |
Non-controlling interests | 2,801 | 2,614 |
Profit | 26,111 | 13,841 |
Earnings per share | ||
Basic earnings per share (yen) | 180.09 | 86.74 |
Diluted earnings per share (yen) | - | - |
8
(Condensed Consolidated Statement of Comprehensive Income)
(Millions of yen) | |||
Fiscal year ended | Fiscal year ended | ||
March 31, 2019 | March 31, 2020 | ||
Profit | 26,111 | 13,841 | |
Other comprehensive income | |||
Items that will not be reclassified to profit or loss | |||
Equity financial assets measured at fair value through other | (1,218) | (2,313) | |
comprehensive income | |||
Remeasurements of defined benefit plans | (460) | (467) | |
Share of other comprehensive income of | investments | 33 | (17) |
accounted for using equity method | |||
Total | (1,712) | (2,798) | |
Items that may be reclassified to profit or loss | |||
Exchange differences on translation of foreign | |||
operations | 1,983 | (11,061) | |
Share of other comprehensive income of investments | |||
accounted for using equity method | (120) | 130 | |
Total | (1,862) | (10,931) | |
Total other comprehensive income | 149 | (13,729) | |
Total comprehensive income | 26,261 | 111 | |
Comprehensive income attributable to | |||
Owners of parent | 23,213 | (1,281) | |
Non-controlling interests | 3,047 | 1,393 | |
Total comprehensive income | 26,261 | 111 |
9
- Condensed Consolidated Statement of Changes in Equity Fiscal year ended March 31, 2019
(Millions of yen) | |||||||
Equity attributable to owners of parent | |||||||
Other components of equity | |||||||
Equity | |||||||
Exchange | financial | ||||||
differences | assets | Remeasure- | Total | ||||
Share | Capital | Treasury | on | measured at | ments of | ||
components | |||||||
capital | surplus | shares | translation of | fair value | defined | ||
of equity | |||||||
foreign | through other | benefit plans | |||||
operations | comprehen- | ||||||
sive income |
Balance at April 1, 2018 Profit
Other comprehensive income
Total comprehensive income
Purchase of treasury shares Dividends
Changes in ownership interest in subsidiaries
Transfer from other components of equity to retained earnings
Total transactions with owners
Balance at March 31, 2019
28,027 | 29,055 | (1,218) | (2,400) | 16,726 | - | 14,326 |
- | - | - | - | - | - | - |
- | - | - | 1,618 | (1,228) | (486) | (96) |
- | - | - | 1,618 | (1,228) | (486) | (96) |
- | - | (1) | - | - | - | - |
- | - | - | - | - | - | - |
- | (2,086) | - | (41) | - | - | (41) |
- | - | - | - | - | 486 | 486 |
- | (2,086) | (1) | (41) | - | 486 | 444 |
28,027 | 26,968 | (1,219) | (823) | 15,498 | - | 14,674 |
Balance at April 1, 2018 Profit
Other comprehensive income
Total comprehensive income
Purchase of treasury shares Dividends
Changes in ownership interest in subsidiaries
Transfer from other components of equity to retained earnings
Total transactions with owners
Balance at March 31, 2019
Equity attributable to owners of parent | Non-controlling | Total equity | |
Retained earnings | Total | interests | |
270,354 | 340,546 | 25,111 | 365,657 |
23,309 | 23,309 | 2,801 | 26,111 |
- | (96) | 246 | 149 |
23,309 | 23,213 | 3,047 | 26,261 |
- | (1) | - | (1) |
(7,508) | (7,508) | (2,737) | (10,246) |
- | (2,128) | 603 | (1,525) |
(486) | - | - | - |
(7,995) | (9,638) | (2,134) | (11,772) |
285,669 | 354,120 | 26,024 | 380,145 |
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Fiscal year ended March 31, 2020
(Millions of yen) | |||||||
Equity attributable to owners of parent | |||||||
Other components of equity | |||||||
Equity | |||||||
Exchange | financial | ||||||
differences | assets | Remeasure- | Total | ||||
Share | Capital | Treasury | on | measured at | ments of | ||
components | |||||||
capital | surplus | shares | translation of | fair value | defined | ||
of equity | |||||||
foreign | through other | benefit plans | |||||
operations | comprehen- | ||||||
sive income |
Balance at April 1, 2019 Profit
Other comprehensive income
Total comprehensive income
Purchase of treasury shares Dividends
Changes in ownership interest in subsidiaries
Transfer from other components of equity to retained earnings
28,027 | 26,968 | (1,219) | (823) | 15,498 | - | 14,674 |
- | - | - | - | - | - | - |
- | - | - | (9,769) | (2,333) | (405) | (12,508) |
- | - | - | (9,769) | (2,333) | (405) | (12,508) |
- | - | (0) | - | - | - | - |
- | - | - | - | - | - | - |
- | - | - | - | - | - | - |
- | - | - | - | (338) | 405 | 67 |
Other | - | - | - | - | - | - | - | ||||
Total | transactions | with | - | - | (0) | - | (338) | 405 | 67 | ||
owners | |||||||||||
Balance at March 31, 2020 | 28,027 | 26,968 | (1,220) | (10,593) | 12,826 | - | 2,233 | ||||
Equity attributable to owners of parent | Non-controlling | Total equity | |||||||||
Retained earnings | Total | interests | |||||||||
Balance at April 1, 2019 | 285,669 | 354,120 | 26,024 | 380,145 | |||||||
Profit | 11,226 | 11,226 | 2,614 | 13,841 | |||||||
Other comprehensive | |||||||||||
income | - | (12,508) | (1,221) | (13,729) | |||||||
Total comprehensive | |||||||||||
income | 11,226 | (1,281) | 1,393 | 111 | |||||||
Purchase of treasury shares | - | (0) | - | (0) | |||||||
Dividends | (7,767) | (7,767) | (2,328) | (10,095) | |||||||
Changes in ownership | |||||||||||
interest in subsidiaries | - | - | - | - | |||||||
Transfer from other | |||||||||||
components of equity to | |||||||||||
retained earnings | (67) | - | - | - | |||||||
Other | - | - | 114 | 114 | |||||||
Total | transactions | with | |||||||||
owners | (7,834) | (7,768) | (2,213) | (9,981) | |||||||
Balance at March 31, 2020 | 289,061 | 345,070 | 25,204 | 370,275 |
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(4) Condensed Consolidated Statement of Cash Flows
(Millions of yen) | ||
Fiscal year ended | Fiscal year ended | |
March 31, 2019 | March 31, 2020 | |
Cash flows from operating activities | ||
Profit before tax | 37,356 | 16,106 |
Depreciation and amortization | 33,789 | 37,498 |
Loss on liquidation of business | - | 21,615 |
Finance income | (2,669) | (2,843) |
Finance costs | 2,830 | 2,912 |
Share of loss (profit) of investments accounted for using | (854) | (913) |
equity method | ||
Loss (gain) on sale of fixed assets | 590 | 398 |
Decrease (increase) in inventories | 719 | (4,943) |
Decrease (increase) in trade and other receivables | (7,351) | 28,965 |
Increase (decrease) in trade and other payables | 5,008 | (18,937) |
Other | (522) | (3,229) |
Subtotal | 68,896 | 76,629 |
Interest received | 1,835 | 2,141 |
Dividends received | 1,042 | 975 |
Interest paid | (2,577) | (2,802) |
Income taxes paid | (11,732) | (11,696) |
Net cash provided by (used in) operating activities | 57,463 | 65,247 |
Cash flows from investing activities | ||
Payments into time deposits | (14,249) | (13,677) |
Proceeds from withdrawal of time deposits | 9,964 | 15,815 |
Purchase of property, plant and equipment, and intangible | (49,479) | (46,385) |
assets | ||
Proceeds from sale of property, plant and equipment, and | 1,327 | 826 |
intangible assets | ||
Purchase of investments | (3,131) | (996) |
Proceeds from sale of investments | 40 | 1,542 |
Payments for sale of shares of subsidiaries resulting | - | (11,428) |
in change in scope of consolidation | ||
Other | 35 | 128 |
Net cash provided by (used in) investing activities | (55,491) | (54,174) |
Cash flows from financing activities | ||
Proceeds from short-term borrowings | 37,296 | 52,912 |
Repayments of short-term borrowings | (27,293) | (47,078) |
Proceeds from long-term borrowings | 31,462 | 24,227 |
Repayments of long-term borrowings | (25,787) | (5,272) |
Dividends paid | (7,503) | (7,766) |
Dividends paid to non-controlling interests | (2,742) | (2,328) |
Proceeds from sale of shares of subsidiaries not resulting in | 2,314 | - |
change in scope of consolidation | ||
Other | 2 | (2,168) |
Net cash provided by (used in) financing activities | 7,749 | 12,525 |
Net increase (decrease) in cash and cash equivalents | 9,721 | 23,597 |
Cash and cash equivalents at beginning of period | 97,991 | 107,311 |
Effect of exchange rate changes on cash and cash | (401) | (2,979) |
equivalents | ||
Cash and cash equivalents at end of period | 107,311 | 127,930 |
12
Note on Consolidated Financial Statements (Note on premise of going concern)
None
(Segment Information)
FY2018 (April 1, 2018 - March 31, 2019) | ||||||||||
(Millions | of yen) | |||||||||
Reportable Segment | ||||||||||
Total | Eliminations | Consolidated | ||||||||
Japan | Americas | Asia | Europe | |||||||
& Africa | ||||||||||
Revenue | ||||||||||
Revenues from external customers | 377,983 | 245,456 | 173,332 | 43,942 | 840,714 | - | 840,714 | |||
Transactions with other segments | 29,100 | 3,693 | 26,457 | 2,012 | 61,265 | (61,265) | - | |||
Total | 407,084 | 249,150 | 199,790 | 45,955 | 901,979 | (61,265) | 840,714 | |||
Segment profit (loss) | 11,049 | 17,484 | 12,786 | (4,756) | 36,563 | (38) | 36,525 | |||
Finance income | 2,669 | |||||||||
Finance costs | (2,692) | |||||||||
Share of the profit of investments accounted for using equity method | 854 | |||||||||
Profit before tax | 37,356 | |||||||||
FY2019 (April 1, 2019 - March 31, 2020) | ||||||||||
(Millions | of yen) | |||||||||
Reportable Segment | ||||||||||
Total | Eliminations | Consolidated | ||||||||
Japan | Americas | Asia | Europe | |||||||
& Africa | ||||||||||
Revenue | ||||||||||
Revenues from external customers | 377,858 | 239,499 | 160,207 | 35,372 | 812,937 | - | 812,937 | |||
Transactions with other segments | 27,258 | 4,091 | 28,085 | 1,194 | 60,629 | (60,629) | - | |||
Total | 405,116 | 243,590 | 188,292 | 36,567 | 873,567 | (60,629) | 812,937 | |||
Segment profit (loss) | (5,056) | 16,600 | 10,610 | (4,240) | 17,913 | (25) | 17,888 | |||
Finance income | 2,843 | |||||||||
Finance costs | (5,538) | |||||||||
Share of the profit of investments accounted for using equity method | 913 | |||||||||
Profit before tax | 16,106 | |||||||||
13
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Toyoda Gosei Co. Ltd. published this content on 18 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2020 05:04:01 UTC