Toyota's basic management principles entail contributing to society through its business activities while realizing stable, long-term growth. The three key components of Toyota's financial strategy are "growth," "efficiency," and "stability." We believe that by implementing policies for these three components while maintaining balance over the medium- and long-term, it will be possible to accomplish stable, sustainable growth and at the same time lead, increase our corporate value.
In addition, Toyota aims to achieve sustainable growth hinging on always better cars and based on the Global Vision, even in the midst of any type of severe management environment. If customers accept our products as better cars, this will lead to increased numbers of cars sold and higher profits, which will make it possible for us to invest in always better cars. Delivering always better cars and contributing to the enrichment of the lives of communities consequently leads to greater profit. This is the spirit to which we aspire to achieve sustainable growth. This cycle is supported by the aims of the Global Vision. Even amid a harsh management environment with a yen/dollar exchange rate of ¥85 to the dollar and a unit sales volume of 7.5 million cars, we will endeavor to restore Toyota (unconsolidated) to profitability. We will work toward achieving a consistent consolidated operating income of approximately one trillion yen and a consolidated operating income ratio of 5%.
Production was reduced in FY2011 due to the Great East Japan Earthquake and the floods in Thailand. However, production was normalized more quickly than expected and we were able to move toward recovery as a result of devoted efforts to restore production. Regarding the sharp appreciation of the yen, the entire Group joined together and made efforts including those to cut costs. In this way we were able to accomplish further constitutional improvement toward the creation of solid profitability.
Toyota will continue to work toward becoming a corporation that is capable of realizing sustainable growth, and will move forward with a sense of unity between all 320,000 Toyota employees worldwide.
On a consolidated basis, Toyota saw an increase of 44,000 in unit sales to 7.352 million cars, but net revenues decreased by 2.2% to 18,583.6 billion yen, operating income fell by 112.6 billion yen to 355.6 billion yen and net income declined by 124.6 billion yen to 283.5 billion yen. The business environment was extremely difficult in the fiscal year that ended March 31, 2012 because of reduced production due to the Great East Japan Earthquake and the flooding in Thailand, the continued strong yen and other factors. Nevertheless, thanks to the efforts of our workforce, and all our suppliers and dealers who have done their utmost in working towards the recovery of production and sales, we were able to achieve an operating income of 355.6 billion yen. Furthermore, with the Group as a whole promoting cost reductions and curtailment of fixed expenses, we made progress to accomplish solid profitability.
For FY2012, with continuous profit improvement activities, we aim to become even stronger and secure a consolidated operating income of 1 trillion yen through utilizing our competitive product lineup (including our hybrid cars and IMVs as well as our new products,) and actively working to increase sales along with the unified and unceasing cost reduction efforts of all our suppliers.
|Consolidated basis||Year ended March 2012
(April 2011 through March 2012)
|Year ended March 2011
(April 2010 through March 2011)
|(1) Net revenues||18,583.6 bil. yen||18,993.6 bil. yen||-2.2%|
|(2) Operating income||355.6 bil. yen||468.2 bil. yen||-24.1%|
|(3) Net income||283.5 bil. yen||408.1 bil. yen||-30.5%|
|(4) Total assets||30,650.9 bil. yen||29,818.1 bil. yen||2.8%|
|(5) Shareholders' equity||10,550.2 bil. yen||10,332.3 bil. yen||2.1%|
|(6) Dividend per share||50 yen||50 yen||—|
year ended March 2012
(April 2011 through March 2012)
|8,241.1 bil. yen|
|-439.8 bil. yen|
|35.8 bil. yen|
|10,612.7 bil. yen|
|6,261.7 bil. yen|