Overview for 2 nd Quarter of FY2013 and Forecasts for FY2013 as a whole

Transcription

1 1/14 Overview for 2 nd Quarter of FY2013 and Forecasts for FY2013 as a whole October 25, 2012 Hino Motors, Ltd. Yoshio Shirai President, Member of the Board Photo: Hino Dutro 70th anniversary special edition

2 Forward-looking statements and insider trading 2/14 This material contains forward-looking statements regarding the performance, goals, plans, and strategies of Hino Motors (including its consolidated subsidiaries). These forward-looking statements are based on determinations and assumptions that have been derived from information currently available, and may differ considerably from real performance figures and future operations at Hino Motors due to uncertainties inherent in such determinations and assumptions, and other variables including changes in future corporate operations as well as shifts in internal and external conditions. Reminders regarding insider trading: Investors who receive nonpublic information on important facts directly from a company (primary information recipients) are prohibited from selling or buying stocks prior to this information becoming "public" (Article 166 of the Financial Instruments and Exchange Act). According to the enforcement ordinance of this law, information is deemed to have been made "public" once 12 hours have elapsed after the company discloses this information to two or more press organizations, or when the information, after a notification to the securities exchange, is listed by electronic means (TDnet's Timely Disclosure and Viewing Service) as prescribed by the Cabinet Office Ordinance.

3 3/14 Contents 1. Summary of the first half of FY Forecasts for FY2013 as a whole 3. Topics

4 1. Summary of the first half of fiscal /14 Japan: Performance was better than expected owing to demand from post-earthquake reconstruction demand, eco-car subsidy, and expansion of sales of the new light-duty truck among other factors. Overseas: Unit sales increased owing to solid domestic demand in emerging economies e.g., Thailand and Indonesia. < Unit Sales > 1st half, FY13 1st half, FY12 Change Change % Japan (Thousand units) Overseas Global Toyota brand < Consolidated Income Statement, Dividends > (Billions of yen) 1st half, FY13 1st half, FY12 Change Change % Net sales Operating income Net income Dividends (per share) yen yen yen

5 5/14 2. Projections for fiscal 2013 as a whole <Recognition of the business climate> Current business climate Japan: Steady demand due duetoto post-earthquake reconstruction End Endof ofeco-car subsidy Overseas: Credit crisis crisisinin Europe and andeconomic slowdown in inchina Concerns that thatthese may mayhave havean aneffect on onemerging economies Exchange rates rates (strong yen, yen, weak euro) Few signs suggesting a reversal for the better Steer Steerour ourbusiness with withclose closeattention attentiontoto external externalcircumstances.

6 2. Forecasts for FY2013 as a whole Japan: The number of unit sales was updated to reflect the upturn in the first half. Overseas: The numbers vary from country to country but no change in total. < Unit Sales > Forecast for FY13 Updated plan Previous plan FY12 performance Japan Overseas Against previous plan 6/14 (Thousand units) Change (%) Global Toyota brand < Consolidated Income Statement, Dividends > Forecast for FY13 Updated plan Previous plan FY12 performance Against Previous FY Against previous plan Net sales Operating income Net income (Billions of yen) Change (%) Against previous FY Dividends (per share) yen yen

7 3. Mid-term corporate plan <Overview> 7/14 Mid-term corporate plan (announced in April 2012): Growth strategy centering on overseas markets Structural reforms and organizational improvements to achieve good profitability in a rapidly changing business climate Steadily engaged in the promotion of these pillars

8 3. Topic <Global production structure: Koga Plant> 8/14 Production Production commenced commencedin inmay May2012 (KDs (KDsfor forthailand). Shipment Shipment of ofkds KDsfor forindonesia Indonesiabegan beganinin October. October. Construction Construction of ofan anaxle axlefactory factoryis isscheduled scheduledto tobegin beginthis thisfy. FY. Position of the Position of the Koga Plant Koga Plant Concept Heavy- and medium-duty vehicle production base KD export base Roles Modularized assembly of finished heavy- and medium-duty vehicles Axle and propeller shaft assembly KD packing & export Vehicles Operational Operational image image Units KD packing FY2013 FY2014 FY2015 FY

9 3. Topic <Global production structure : Nitta Plant> 9/14 Position of the Nitta Plant Unit production base Nitta Plant Concept Roles Vertically integrated production of engines, transmissions, and differential carriers (casting, machining, and heat treatments) Base for supplying overseas facilities with rough molded material made in-house The factory is to be expanded onto adjacent property. A reserve contract for land has been signed. A differential gear center is to be constructed with production projected to begin in the first half of FY2015. Commencement of operations at the heavy-duty engine factory is being considered for FY2016 or later. Existing area Area for expansion Consolidate. Differential gears for heavy- and medium-duty vehicles Machining Heat treatment Assembly Heavy-duty engines Machining Assembly

10 3. Topic <Global production structure : Malaysia> 10/14 Establishes the manufacturing subsidiary "Hino Motors Manufacturing (Malaysia) Sdn. Bhd. (previously outsourced) Malaysia has grown into the 3rd pillar after Indonesia and Thailand thanks primarily to growth in light-duty truck sales. Thousand % Triple crown in the share for FY2012 (Light & Medium-duty trucks, Buses) Self Manufacturing Secure supply capability. Implement cost reduction. Shorten lead times. Global production structure (under establishment) Core regional production centers Production structure in Asia Malaysia Japan Mutually complementary Thailand Indonesia Production structure in Asia will be regionally enhanced centering around Thailand and Indonesia. Other country Other country

11 3. Topic <Total support> 11/14 Approaches to providing services that are true to what Hino stands for. Optimum placement of service centers (Actions in the first half: Two relocated, one newly built) Examples (Japan) Improving service quality Improving servicing efficiency Increasing servicing lanes dedicated to light-duty trucks Contribute to customers' businesses. Suggesting preventive servicing Dr. Dutro visitation diagnostics services Better safety management Safety support for customers (Accident prevention workshops: About 300 scheduled to be held this FY) Laterally disseminate this expertise to overseas operations.

12 3. Topic <Environmental technologies> 12/14 Vision: To respond to increasingly heightened awareness and needs regarding the environment through state-of-the-art technology To commercialize next-generation environmental technologies with HV at the core Hino Dutro PHV Development is moving forward towards commercialization. Hino Poncho electric bus Began public service in Sumida-ku and Hamura City in March Inductive Power Supply hybrid bus Verification tests were implemented that were timed for the 2011 Tokyo Motor Show. Hino Dutro Hybrid FC bus Collaborative development with Toyota Motors with a projected market launch in 2016.

13 Projections <Recognition of the business climate> 13/14 The The3 headwinds Slowdown Slowdown in inglobal globaleconomic economicgrowth. Slower Slower growth growthof ofdemand demandfor forcommercial commercialvehicles. An An entrenched entrenchedstrong strongyen. yen. Ongoing Ongoing challenges challengeswith withregard regardtoto price pricecompetitiveness. competitiveness. Intensifying Intensifying competition competitionin inasean ASEANcountries. Global Global manufacturers manufacturersalso alsoentering enteringthe themarket, which whichwill willlead leadtoto massive massivecompetition. Solid implementation and promotion of structural reforms and organizational improvements Hino's actions Exercising caution in steering the company and responding flexibly to changes in the business climate Further enhancement of product capabilities: - Expand market-best fit vehicles. Strengthening of total support: - Expedite the expansion of service operations that are true to what Hino stands for. Establishing global production structure: - Reform the manufacturing process through modularization. - Create core regional production centers. Strengthening of market development efforts Africa Pay close attention to trends in Japan and overseas. Make investments in smaller tranches. Increase flexibility in production operations. Establish a stable profit foundation.

14 14/14 "HINO Dream Truck & Bus Art Contest" PT. Hino Motors Manufacturing Indonesia is also celebrating its 30th anniversary. Hino Motors Sales (Thailand) Ltd. is also celebrating its 50th anniversary.

15 1/17 Financial Results for Second Quarter of FY2013 (From April 1, 2012 to September 30, 2012) October 25, 2012 Hino Motors, Ltd. Senior Managing Director Akimasa Yamamoto

16 2/17 1. Sales Turnover

17 Global Unit Sales 3/17 By Geographic Region FY2013 ('12/4-9) FY2012 ('11/4-9) (Units) Change Change (%) Japan 19,618 15,181 4, % Asia 37,223 26,645 10, % Central and South America 5,911 5, % North America 4,256 2,779 1, % Europe/Africa 4,176 2,966 1, % Oceania 2,623 1, % Middle East 1,882 1, % Overseas Total 56,071 40,994 15, % Total 75,689 56,175 19, %

18 Truck and Bus Market in Japan 4/17 Hino Registered Japan Market FY2013 ('12/4-9) FY2012 ('11/4-9) Change Change (%) (Units) Heavy-duty trucks 5,682 4,342 1, % (share) (31.6%) (34.6%) (3.0p) Medium-duty trucks 5,183 5, % (share) (37.2%) (46.2%) (9.0p) Total heavy- and medium-duty trucks 10,865 9,518 1, % (share) (34.0%) (40.1%) (6.1p) Light-duty trucks 7,651 4,852 2, % (share) (20.7%) (18.1%) ( 2.6p) Buses 1, % (share) (30.0%) (29.3%) ( 0.7p) Total 19,618 15,181 4, % (share) (27.1%) (28.5%) (1.4p) Heavy-duty trucks 17,986 12,565 5, % Medium-duty trucks 13,941 11,197 2, % Total heavy- and medium-duty trucks 31,927 23,762 8, % Light-duty trucks 36,905 26,823 10, % Buses 3,675 2, % Total 72,507 53,352 19, %

19 5/17 2. Consolidated Financial Results

20 Consolidated Unit Sales 6/17 By Geographic Region Japan Asia Central and South America North America Europe/Africa Oceania Middle East Overseas Total Total FY2013 ('12/4-9) FY2012 ('11/4-9) (Units) Change Change (%) 20,261 16,042 4, % 36,005 25,687 10, % 6,447 4,771 1, % 5,113 2,412 2, times 4,665 2,224 2, times 2,636 1, % 1,701 1, % 56,567 38,231 18, % 76,828 54,273 22, % Supplies and parts for overseas production 3,466 1,902 1, % Total 80,294 56,175 24, %

21 Toyota Brand Vehicles and Engines 7/17 Toyota Brand FY2013 ('12/4-9) FY2012 ('11/4-9) (Units) Change Change (%) SUV 62,922 47,453 15, % Loading Vehicles 22,817 15,721 7, % Total 85,739 63,174 22, % Engines Japan Overseas FY2013 ('12/4-9) FY2012 ('11/4-9) (Units) Change Change (%) 6,204 7,511 1, % 9,428 11,270 1, % Total 15,632 18,781 3, % * Engines are Hino shipment base.

22 Consolidated Income Statement 8/17 Item FY2013 ('12/4-9) FY2012 ('11/4-9) (Billions of yen) Change Change (%) Net sales % <4.0%> <2.6%> <1.4p> Operating income % Non-operating income (loss) (1.1) (1.8) 0.7 Investment gain (loss) on equity method (0.5) (0.7) 0.2 <3.8%> <2.2%> <1.6p> Ordinary income times Extraordinary income times Extraordinary loss % Net income before income taxes and minority interests <3.7%> <1.0%> <2.7p> times <2.5%> <0.1%> <2.4p> Net income times Note: Figures in parentheses (<>) indicate income margin.

23 Consolidated Net Sales 9/17 Japan Overseas Toyota FY2013 ('12/4-9) FY2012 ('11/4-9) (Billions of yen) Change Change (%) Heavy-duty trucks % Medium-duty trucks % Total heavy- and medium-duty trucks % Light-duty trucks % Buses % Subtotal % Completed vehicles % Supplies and parts for overseas production % Subtotal % % Service parts % Others % Vehicles % Overseas unit supply business % Total trucks and buses Others % Subtotal % Total net sales %

24 10/17 Consolidated Operating Income (Loss) by Segments Net sales FY2013 ('12/4-9) Operating income (loss) Net sales FY2012 ('11/4-9) Operating income (loss) Net sales (Billions of yen) Change Operating income (loss) <3.5%> <1.8%> 26.0% 2.5 times Japan <4.2%> <4.8%> 38.7% 20.0% Asia <2.0%> <1.4%> 68.1% Other Areas (0.6) Consolidated adjustment (135.5) (1.4) (94.4) (0.0) <4.0%> <2.6%> 29.5% 99.3% Total Note: Figures in parentheses (<>) indicate operating income (loss) margin. Percentages in the column "Change" indicate year-on- year change.

25 Analysis of Consolidated Operating Income 11/17 Increase Increase in in operating operating income: income: billion billion ( 14.9 ( 14.9 billion billion to to billion) billion) (Billions of yen)

26 12/17 Trends in the Quarterly Consolidated Sales and Operating Income 400 Sales Operating Income

27 13/17 3. Sales Forecasts for FY2013

28 Global Unit Sales 14/17 FY2013 ('12/4-'13/3) Forecasts announced at this time FY2012 ('11/4-'12/3) Results Change Change(%) FY2013 ('12/4-'13/3) Forecasts announced on April 26 Change (Thousand units) Change(%) Japan % % Overseas % Total % % Toyota brand (*) *Including Dyna for Indonesia % %

29 15/17 4. Consolidated Financial Forecasts for FY2013

30 Consolidated Income Statement 16/17 Item FY2013 ('12/4-'13/3) Forecasts announced at this time FY2012 ('11/4-'12/3) Results Change Change(%) FY2013 ('12/4-'13/3) Forecasts announced on April 26 (Billions of yen) Change Change(% ) Net sales Operating income Ordinary income 1, , % 1,480.0 <3.6%> <2.9%> <0.7p> <3.2%> <0.4p> % % <3.4%> <2.6%> <0.8p> <3.0%> <0.4p> % % Net income <2.2%> <1.2%> <1.0p> <1.9%> <0.3p> Note: Figures in parentheses (<>) indicate income margin times %

31 Analysis of Consolidated Operating Income (Year-on-year comparison) 17/17 Increase Increase in in operating operating income: income: billion billion ( 37.5 ( 37.5 billion billion to to billion) billion) (Billions of yen)