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!["Global Vision for Those We Serve" Ensure sustainable growth by fostering the virtuous circle, Always better cars → Enriching lives of communities → Stable base of business [Key Points] Ensuring sustainable profitability: Ensure sustainable profitability and strive to enhance corporate value. Compliance: Honor the language and spirit of the law. "Always better cars" and "Enriching lives of communities": Foster the visionary-management cycle.](/sustainability/stakeholders/shareholders/images/shareholders_top.gif)
Ensuring sustainable profitability/Compliance/"Always better cars” and "Enriching lives of communities”
Toyota's basic management principle is to benefit society through its business activities, while realizing stable growth founded on a long-term perspective. The three key components of Toyota's financial strategy are "growth,” "efficiency” and" stability.” From the viewpoint of growth, Toyota plans to implement forward-looking investments to respond to structural shifts in demand and ensure long-term sustainable growth. Regarding efficiency, Toyota steps up its cost reduction efforts and, while streamlining, realizes the same level of results as usual in capital expenditures. In view of anticipated medium- to long-term growth in automotive markets worldwide, Toyota believes that maintaining adequate liquidity is essential in terms of stability, and we will continue to pursue further capital efficiency and improved cash flows.
Basic Concept for Sustainable Growth
Toyota will reinforce its business foundation by working to achieve the goals of raising consolidated operating return on sales to 5 percent and of restor - ing Toyota unconsolidated to profitability. Toyota posted an operating loss of ¥460 billion in the fiscal year ended March 31, 2009. Sweeping improvements enabled us to post an operating gain in the fiscal year to March 31, 2010. Our target is to position our organization to consistently achieve an annual operating return on sales of 5%. That would be operating income of about ¥1 trillion at our present sales volume. And we aim to achieve that level of profitability at a yen/dollar exchange rate of ¥85 to the dollar and at a unit sales volume of 7.5 million vehicles. That is our bottom line for sustainable growth. It would keep us profitable even if our unit sales were to decline up to 20% amid another economic downturn. We know that profit is the result of delivering great cars and contributing to the vitality of our host communities and our host nations. And that is the spirit in which we aspire to sustainable growth.
| Consolidated basis | Year ended March 2011 (April 2010 through March 2011) | Year ended March 2010 (April 2009 through March 2010) | Compared to previous year |
|---|---|---|---|
| (1) Net revenues | 18,993.6 bil. yen | 18,950.9 bil. yen | 0.2％ |
| (2) Operating income | 468.2 bil. yen | 147.5 bil. yen | 217.4％ |
| (3) Net income | 408.1 bil. yen | 209.4 bil. yen | 94.9％ |
| (4) Total assets | 29,818.1 bil. yen | 30,349.2 bil. yen | -1.8％ |
| (5) Shareholder's equity | 10,332.3 bil. yen | 10,359.7 bil. yen | -0.3％ |
| (6) Dividend per share | 50 yen | 45 yen | 11.1％ |
| Reference: Unconsolidated basis Year ended March 2011 (April 2010 through March 2011) |
|---|
| 8,242.8 bil. yen |
| -480.9 bil. yen |
| 52.7 bil. yen |
| 9,593.1 bil. yen |
| 6,302.9 bil. yen |
| — |
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