TIDMTYT
RNS Number : 4534E
Toyota Motor Corporation
06 November 2020
[Reference Translation]
November 6, 2020
To Whom It May Concern:
Company Name: TOYOTA MOTOR CORPORATION
Name and Title of Representative:
Akio Toyoda, President
(Code Number: 7203
Securities exchanges throughout Japan)
Name and Title of Contact Person:
Kaname Shimizu,
General Manager, Accounting Division
(Telephone Number: 0565-28-2121)
Notice Concerning Amendments to Forecasts for FY2021
Based on our recent business results, we, Toyota Motor
Corporation, hereby amend, as below, our full-year consolidated
financial forecasts for FY2021 (April 1, 2020 through March 31,
2021), announced on August 6, 2020.
1. Amendments to the full-year consolidated financial forecasts
for FY2021 (April 1, 2020 through March 31, 2021)
(Amount: billion yen)
Sales Operating Income before Net income
revenues income income taxes attributable
to
Toyota Motor
Corporation
Previous forecasts (A) 24,000.0 500.0 890.0 730.0
---------- ---------- -------------- --------------
New forecasts (B) 26,000.0 1,300.0 1,760.0 1,420.0
---------- ---------- -------------- --------------
Amount changed (B - A) 2,000.0 800.0 870.0 690.0
---------- ---------- -------------- --------------
% of change 8.3% 160.0% 97.8% 94.5%
---------- ---------- -------------- --------------
(Reference) Actual results
for FY2020* 29,866.5 2,399.2 2,792.9 2,036.1
---------- ---------- -------------- --------------
*The parent company has adopted International Financial
Reporting Standards ("IFRS") for its consolidated financial
statements beginning
with the first quarter ended June 30, 2020.The figures for
Actual results for FY2020 are also presented in accordance with
IFRS.
2. Reasons for the amendments
The full-year consolidated financial forecasts for FY2021 were
amended from the previously announced forecasts mainly due to
revisions to our annual sales plan and fluctuations in currency
exchange rates.
The forecast of the full-year consolidated vehicle unit sales
for FY2021 has been revised to 7,500 thousand units from 7,200
thousand units, which is 300 thousand units more than presumed at
the time of the previous announcement of the FY2021 forecasts.
Also, the forecast of the full-year retail unit sales for Toyota
and Lexus brand vehicles for FY2021 has been revised to 8,600
thousand units from 8,300 thousand units, which is 300 thousand
units more than presumed at the time of the previous announcement
of the FY2021 forecasts. Regarding the pace of recovery of the
retail unit sales for Toyota and Lexus brand vehicles in the
future, we expect approximately 100% in the third quarter and
approximately 105% in the fourth quarter, in comparison to the same
periods in the previous fiscal year.
The assumption of the foreign exchange rate is 106 yen per U.S.
dollar and 121 yen per euro for the full-year average .
(Note)
This notice contains forward-looking statements that reflect
Toyota's plans and expectations. These forward-looking statements
are not guarantees of future performance and involve known and
unknown risks, uncertainties and other factors that may cause
Toyota's actual results, performance, achievements or financial
position to be materially different from any future results,
performance, achievements or financial position expressed or
implied by these forward-looking statements. These factors include,
but are not limited to: (i) changes in economic conditions, market
demand, and the competitive environment affecting the automotive
markets in Japan, North America, Europe, Asia and other markets in
which Toyota operates; (ii) fluctuations in currency exchange
rates, particularly with respect to the value of the Japanese yen,
the U.S. dollar, the euro, the Australian dollar, the Russian
ruble, the Canadian dollar and the British pound, fluctuations in
stock prices, and interest rates fluctuations; (iii) changes in
funding environment in financial markets and increased competition
in the financial services industry; (iv) Toyota's ability to market
and distribute effectively; (v) Toyota's ability to realize
production efficiencies and to implement capital expenditures at
the levels and times planned by management; (vi) changes in the
laws,
regulations and government policies in the markets in which
Toyota operates that affect Toyota's automotive operations,
particularly laws, regulations and government policies relating to
vehicle safety including remedial measures such as recalls, trade,
environmental protection, vehicle emissions and vehicle fuel
economy, as well as changes in laws, regulations and government
policies that affect Toyota's other operations, including the
outcome of current and future litigation and other legal
proceedings, government proceedings and
investigations; (vii) political and economic instability in the
markets in which Toyota operates; (viii) Toyota's ability to timely
develop and achieve market acceptance of new products that meet
customer demand; (ix) any damage to Toyota's brand image; (x)
Toyota's reliance on various suppliers for the provision of
supplies; (xi) increases in prices of raw materials; (xii) Toyota's
reliance on various digital and information technologies; (xiii)
fuel shortages or interruptions in electricity, transportation
systems, labor strikes, work stoppages or other
interruptions to, or difficulties in, the employment of labor in
the major markets where Toyota purchases materials, components and
supplies for the production of its products or where its products
are produced, distributed or sold; and (xiv) the impact of natural
calamities as well as the outbreak and spread of epidemics,
including the negative effect on Toyota's vehicle production and
sales. A discussion of these and other factors which may affect
Toyota's actual results, performance, achievements or financial
position is contained in Toyota's annual report on Form 20-F, which
is on file with the United States Securities and Exchange
Commission.
The global spread of COVID-19 and the responses to it by
governments and other stakeholders have adversely affected Toyota
in a number of ways. For reasons such as government directives as
well as anticipated reduced demand for its vehicles, Toyota has
temporarily suspended, or intends to temporarily suspend,
production of automobiles and components at selected plants in
Japan and overseas. COVID-19 has also affected, and is expected to
continue to affect, the businesses of Toyota dealers and
distributors, as well as
certain of Toyota's third-party suppliers and business partners.
In addition, the global spread of COVID-19 and related matters have
adversely affected businesses in a wide variety of industries, as
well as consumers, all of which negatively impacted demand for
Toyota's vehicles and related financial services.
The duration of the global spread of COVID-19 and the resulting
future effects are uncertain, and the foregoing impacts and other
effects not referenced above, as well as the ultimate impact of
COVID-19, are difficult to predict and could have an adverse effect
on Toyota's financial condition and results of operations.
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END
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