Toyota Full-YearvReport 2024

In FY2024 (ended March 31, 2024), although the inflation rate slowed as a result of monetary tightening policies mainly in Europe and the United States, the outlook for the global economy remained uncertain due to concerns about recession caused by higher policy interest rates, geopolitical risks such as conflicts in Ukraine and the Middle East, and the impact of the stagnation in China’s real estate sector. Meanwhile, the recovery of the Japanese economy was moderate despite positive economic trends such as wage increases and companies’ stronger willingness to commit to investment. In this operating environment, Toyota Industries undertook efforts to ensure customer trust through a priority to quality as well as to expand sales by responding flexibly to market trends. As a result, total consolidated net sales amounted to 3,833.2 billion yen, an increase of 453.4 billion yen, or 13%, from the previous fiscal year

Highlights

• The Automobile market expanded on a global basis, supported by robust sales mainly in China and Europe. Amid such operating conditions, net sales of the Automobile Segment totaled 1,096.4 billion yen, an increase of 138.6 billion yen, or 14%. Operating profit amounted to 18.2 billion yen, a decrease of 16.4 billion yen, or 47%.
• Assets amounted to 11,078.4 billion yen, an increase of 3,257.3 billion yen from the end of the previous fiscal year, due mainly to an increase in fair value of investment securities. Liabilities amounted to 4,925.1 billion yen, an increase of 1,039.4 billion yen from the end of the previous fiscal year, mainly owing to an increase in deferred tax liabilities. Equity amounted to 6,153.3 billion yen, an increase of 2,217.9 billion yen from the end of the previous fiscal year. The balance of accrued expenses and provisions recorded for the suspension of lift trucks and engine shipments at the end of FY2024 amounted to 60.7 billion yen
• Net cash provided by operating activities was 443.5 billion yen in FY2024, due to posting profit before income taxes of 309.1 billion yen. Net cash provided by operating activities increased by 248.6 billion yen compared to that of 194.9 billion yen in the previous fiscal year
• Net cash provided by investing activities was 47.9 billion yen in FY2024 compared with a net loss of 427.6 billion yen in the previous fiscal year, attributable primarily to proceeds from withdrawals of bank deposits of 995.0 billion yen and proceeds from sales of investment securities of 241.5 billion yen, which offset payments for bank deposits of 807.2 billion yen and payments for purchases of property, plant and equipment of 348.9 billion yen.