《豐田汽車公司Toyota Motor Corp.（TM）2025財年第三季度財報「NYSE」（英文版）（25頁）.pdf》由會員分享，可在線閱讀，更多相關《豐田汽車公司Toyota Motor Corp.（TM）2025財年第三季度財報「NYSE」（英文版）（25頁）.pdf（25頁珍藏版）》請在三個皮匠報告上搜索。

1、1FY2025 Third Quarter Financial Results February 5,2025Toyota Motor CorporationToyota Woven City2Cautionary Statement with Respect to Forward-Looking Statements and Caution Concerning Insider TradingThis presentation contains forward-looking statements that reflect the plans and expectations of Toyo

2、ta Motor Corporation and its consolidated subsidiaries(“Toyota”).These forward-looking statements are not guarantees of future performance and involve known and unknown risks,uncertainties and other factors that may cause Toyotas actual results,performance,achievements or financial position to be ma

3、terially different from any future results,performance,achievements or financial position expressed or implied by these forward-looking statements.These factorsinclude,but are not limited to:(i)changes in economic conditions,market demand,and the competitive environment affecting the automotive mark

4、ets 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 Canadian dollar and the British pound),stock prices and interest

5、rates;(iii)changes in funding environment in financial markets and increased competition in the financial services industry;(iv)Toyotas ability to market and distribute effectively;(v)Toyotas ability to realize production efficiencies and to implement capital expenditures at the levels and times pla

6、nned by management;(vi)changes in the laws,regulations and government policies in the markets in which Toyota operates that affect Toyotas automotive operations,particularly laws,regulations and government policies relating to vehicle safety including remedial measures such as recalls,trade,environm

7、ental protection,vehicle emissions and vehicle fuel economy,as well as changes in laws,regulations and government policies that affect Toyotas other operations,including the outcome of current and future litigation and other legal proceedings,government proceedings and investigations;(vii)political

8、and economic instability in the markets in which Toyota operates;(viii)Toyotas ability to timely develop and achieve market acceptance of new products that meet customer demand;(ix)any damage to Toyotas brand image;(x)Toyotas reliance on various suppliers for the provision of supplies;(xi)increases

9、in prices of raw materials;(xii)Toyotas reliance on various digital and information technologies,as well as information security;(xiii)fuel shortages or interruptions in electricity,transportation systems,labor strikes,work stoppages or other interruptions to,or difficulties in,the employment of lab

10、or 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;(xiv)the impact of natural calamities,epidemics,political and economic instability,fuel shortages or interruptions in social infr

11、astructure,wars,terrorism and labor strikes,including their negative effect on Toyotas vehicle production and sales;(xv)the impact of climate change and the transition towards a low-carbon economy;and(xvi)the ability of Toyota to hire or retain sufficient human resources.A discussion of these and ot

12、her factors which may affect Toyotas actual results,performance,achievements or financial position is contained in Toyota Motor Corporations annual report on Form 20-F,which is on file with the United States Securities and Exchange Commission.Caution concerning Insider TradingUnder Japanese securiti

13、es laws and regulations(the Regulations),subject to certain exceptions,any person who receives certain material information relating to the business,etc.of Toyota which may be contained in this document is prohibited from trading in Toyotas shares or certain other transactions related to such shares

14、(as set forth in the Regulations)until such material information is deemed to be made public.Under the Regulations,material information is deemed to be made public when(i)such material information is notified to a stock exchange and is disclosed by ways of electromagnetic means as prescribed by the

15、ordinance of the Cabinet Office(posting on the TDnet(Timely Disclosure Network)information service)or(ii)twelve(12)hours have elapsed since a listed company,such as Toyota,disclosed such material information to at least two(2)media sources as prescribed by the Regulations.3FY2025 Third Quarter Resul

16、ts SummaryActual(9 months)ForecastContinued to invest in human resources and growth areas,raising the attractiveness of the industry as a whole,with a view of fostering an enthusiasm for workOperating income 3,679.4 billion yen(-560.7 billion yen YoY)-Achieved a high level of profit due to the impac

17、t of production recovery from the thirdquarter and improvement efforts despite a decrease in sales volume and one-time costs.-We are grateful to all our stakeholders,including suppliers and dealers,who continued to make steady strengthening of the foundation and improvements regardless of the situat

18、ion with the participation of all.Operating income 4,700 billion yen(+400 billion yen from the previous forecast)-Upward revision incorporates progress in strengthening earning power,backed by improvement efforts including product competitiveness and value chain earnings.-Investing 830 billion yen a

19、s planned in human resources and growth areas to build a robust foundation for continued growth over the next 50 years.CFOsMessage-Spread and permeate to the deeper layers the improvement of work environment for our friends in the automotive industry.-Expand growth investment to transform into a mob

20、ility company.(opening of Woven City open/establishment of new BEV and battery entity in China/the U.S.battery plant begins operation)4FY2025 Third QuarterFinancial Performance5Consolidated Vehicle Sales(FY2025 9 months)Reference(retail)2023.4-12YoY2024.4-121,245 1,259 1,376 1,378 884 866 2,161 2,04

21、3 1,630 1,454 01,0002,0003,0004,0005,0006,0007,0008,000101.2%100.2%97.9%94.5%89.2%96.0%7,295(thousands of vehicles)JapanN.AmericaEuropeAsiaOtherCentral and South America,Oceania,Africa,The Middle East,etc.Toyota and Lexus Vehicle Sales7,9087,75898.1%Electrified Vehicle%2,8373,515123.9%HEV2,6463,2891

22、24.3%PHEV102115112.7%BEV87110 126.9%FCEV3134.1%Total Retail Vehicle Sales8,5648,29596.9%35.9%45.3%7,0006Consolidated Financial Summary(FY2025 9 months)Sales Revenues34,022.735,673.5+1,650.8Operating Income4,240.23,679.4-560.7Margin12.5%10.3%Other Income1,116.81,750.6+633.7 Share of Profit(Loss)of In

23、vestmentsAccounted for Using the Equity Method596.1454.7-141.4Income before Income Taxes5,357.05,430.0+73.0Net Income Attributable to Toyota Motor Corporation3,947.24,100.3+153.1Margin11.6%11.5%FOREX RatesUS$143 yen153 yen+10 yen155 yen165 yen+10 yen(billions of yen)*12023.4-122024.4-12Change*1 Rega

24、rding Japan:328.6(+5.8 year on year),China:68.6 (-152.2 year on year),Other:57.4(+5.0 year on year)7Analysis of Consolidated Operating Income(FY2025 9 months)*1 Details*2 Details*3 Details*4 DetailsTransactional(Imports/Exports)+425.0Volume,Model Mix-325.0Labor Cost-215.0Valuation Gains/Losses from

25、Swaps,etc.+29.7 -US$+360.0Value Chain+135.0Depreciation Expenses-30.0Impact of Inflation Accounting,etc.+48.0 -+65.0-Financial Services+35.0R&D Expenses-65.0HINO MOTORS Certification Related Expenses-284.8 -Other0.0-Accessories/Spare Parts/Expenses,etc.-280.0Other-158.6Translational FOREX Impact Con

26、cerning Used Vehicle/Connected,etc.Overseas Subsidiaries,etc.Other+25.0+100.0+65.04,240.23,679.4+490.0+70.0-165.0-590.0-365.7Which includes:Strengthening Foundation of Suppliers/Materials PricesCost Reduction-150.0+220.0-685.0Excluding the overall impact of foreign exchange rates and swap valuation

27、gains/losses,etc.：(-560.7)Operating Income(billions of yen)2023.4-12143 yen/US$155 yen/2024.4-12153 yen/US$165 yen/CostReductionEffortsIncrease or Decrease in Expenses and Expense Reduction Efforts*3Other*4Effects ofFOREX Rates*1Effects ofMarketing Activities*28Geographic Operating Income(FY2025 9 m

28、onths)2,686.3552.5308.8651.7190.12,341.2 204.2 376.1 680.7 168.8 1,630 1,454 2,161 2,043 884 866 1,376 1,378 1,245 1,259 16.6%MarginJapanN.AmericaEuropeAsiaOtherOperating Income including Valuation Gains/Losses relating to Swaps,etc.(billions of yen)2,685.12,337.0 516.5 172.1 285.5 373.1 649.6 685.2

29、198.9 179.6 2023.4-122024.4-126.0%4.1%7.4%-348.2-345.0+67.2+28.9-21.39.8%(89.2%)(94.5%)(97.9%)(100.2%)Operating Income(billions of yen)(excluding Valuation Gains/Losses relating to Swaps,etc.)Consolidated Vehicle Sales(thousands of vehicles)Incl.China(excl.investments accounted for using the equity

30、method of associates and joint ventures)14.4%1.4%10.0%5.0%8.3%(101.2%)2023.4-122024.4-122023.4-122024.4-122023.4-122024.4-122023.4-122024.4-129China Business/Financial Services(FY2025 9 months)220.9 68.6 138.7 125.4(Ref.)China BusinessOperating Income of Consolidated Subsidiaries(billions of yen)Sha

31、re of Profit of Investments Accounted for Using the EquityMethod of Associates and Joint Ventures(billions of yen)Toyota and Lexus Vehicle Retail Sales(thousands of vehicles)Financial Services Operating Income(billions of yen)Excluding Valuation Gains/Losses relating to Swaps,etc.1,5281,4022023.4-12

32、2024.4-12-13.2Effects ofMarketingActivities,etc.470.6 520.2+49.5Effects of Increase inLoan Balance,etc.2023.4-122024.4-12416.9496.2-152.3Effects ofMarketingActivities,etc.(91.8%)Operating Income including Valuation Gains/Losses relating to Swaps,etc.(billions of yen)10FY2025 Financial Forecasts11FY2

33、025 Forecast:Consolidated Vehicle Sales 1,638 1,804 1,192 2,816 1,993 1,640 1,620 1,860 1,840 1,150 1,170 2,720 2,750 2,030 2,020 02,0004,0006,0008,00010,0009,400Previous Forecast2024.4-2025.3New Forecast2024.4-2025.39,400100.0%99.5%98.9%98.8%101.1%101.7%vs.Previous Forecast(thousands of vehicles)Ja

34、panN.AmericaEuropeAsiaOtherCentral and South America,Oceania,Africa,The Middle East,etc.Reference(retail)Toyota and Lexus Vehicle Sales10,10010,100100.0%10,309Electrified Vehicles%4,6484,659100.2%3,855HEV4,3254,362100.9%3,594PHEV16215495.1%141BEV16014288.8%117FCEV11100.0%4Total Retail Vehicle Sales1

35、0,85010,850100.0%11,09046.0%46.1%37.4%9,443FY2024 Results2023.4-2024.312FY2025 Forecast:Consolidated Financial SummaryPrevious Forecast2024.4-2025.3New Forecast2024.4-2025.3Change Sales Revenues46,000.047,000.0+1,000.0 Operating Income4,300.04,700.0+400.0 Margin9.3%10.0%Other Income680.01,480.0+800.

36、0Share of Profit(Loss)of InvestmentsAccounted for Using the Equity Method590.0600.0+10.0 Income before Income Taxes 4,980.06,180.0+1,200.0Net Income Attributable toToyota Motor Corporation3,570.04,520.0+950.0 Margin7.8%9.6%Dividend per share90 yen90 yen0 yen FOREX RatesUS$147 yen152 yen+5 yen161 yen

37、164 yen+3 yenFY2024 Results2023.4-2024.345,095.35,352.911.9%1,612.1763.16,965.04,944.911.0%75 yen145 yen157 yen（billions of yen）*FOREX Rate performance:153 yen against the U.S.dollar and 165 yen against the Euro from April 2024 to December 2024FOREX Rate assumptions:150 yen against the U.S.dollar an

38、d 160 yen against the Euro from January 2025 to March 202513Analysis of FY2025 Forecast:Consolidated Operating Income(vs.FY2024 Results)Investment in human resources and growth areas for the future has progressed according to plan.Under product®ion-based management,our earning power has been enha

39、nced as we have proceeded “Ever-better car”and“Best in town”activities with many stakeholders.5,000.0(billions of yen)4,300.0-700.0152 yen/US$164 yen/“Earning Power”-520.0One-offExpensesEffects ofFOREXRates+485.04,700.0Investment inHumanResourcesandGrowth Area(additional)3Q Forecast2024.4-2025.3+565

40、.0ImprovementEffortsInvestment inHumanResources&Growth Areas-130.0145 yen/US$160 yen/ConsolidatedSales Volume9.5 million units145 yen/US$Forecast in May2024.4-2025.35,352.9145 yen/US$157 yen/FY2024 Results2023.4-2024.3-352.91.Price revision2.Controlling incentive3.Increasing value chain earningsOper

41、ating Income(+400.0)14*1 Details*2 Details*3 Details*4 DetailsTransactional(Imports/Exports)+425.0Volume,Model Mix-325.0Labor Cost-215.0Valuation Gains/Losses from Swaps,etc.+29.7 -US$+360.0Value Chain+135.0Depreciation Expenses-30.0Impact of Inflation Accounting,etc.+48.0 -+65.0-Financial Services+

42、35.0R&D Expenses-65.0HINO MOTORS Certification Related Expenses-284.8 -Other0.0-Accessories/Spare Parts/Expenses,etc.-280.0Other-158.6Translational FOREX Impact Concerning Used Vehicle/Connected,etc.Overseas Subsidiaries,etc.Other+25.0+100.0+65.04,240.23,679.4+490.0+70.0-165.0-590.0-365.7Which inclu

43、des:Strengthening Foundation of Suppliers/Materials PricesCost Reduction-150.0+220.0-685.0Excluding the overall impact of foreign exchange rates and swap valuation gains/losses,etc.：(-560.7)Operating Income(billions of yen)CostReductionEffortsIncrease or Decrease in Expenses and Expense Reduction Ef

44、fortsOtherEffects ofFOREX RatesEffects ofMarketing ActivitiesCost Reduction EffortsEffects of Marketing ActivitiesIncrease or Decrease in Expenses and Expense Reduction EffortsTotal(1)Market environment-275.0-275.0(2)Human resources-220.0-10.0-80.0-310.0(3)Growth investments-180.0-180.0Deduct(1)(2)(

45、3)from(A)+290.0+120.0-330.0+80.0(A)(Ref.)Analysis of Consolidated Operating Income(FY2025 9 months)2023.4-122024.4-1215(Ref.)Analysis of FY2025 Forecast:Consolidated Operating Income(vs.FY2024 Results)Excluding the overall impact of foreign exchange rates and swap valuation gains/losses,etc：-865.05,

46、352.9Cost ReductionEffortsOther*4-25.0-327.9+540.0Operating Income(-652.9)Effects ofFOREX Rates*1145 yen/US$157 yen/152 yen/US$164 yen/+55.0-895.04,700.0FY2024 Results2023.4-2024.3FY2025 New Forecast2024.4-2025.3(billions of yen)Which includes:Strengthening Foundation of Suppliers/Materials Prices-3

47、15.0Cost Reduction+290.0Marketing Efforts*2Increase or Decrease inExpenses and Expense Reduction Efforts*3*1 Details*2 Details*3 Details*4 DetailsTransactional(Imports/Exports)+395.0Volume,Model Mix-5.0Labor Cost-235.0Valuation Gains/Losses from Swaps,etc.+20.0 -US$+370.0Value Chain+170.0Depreciatio

48、n Expenses-130.0Impact of Inflation Accounting,etc.+69.5 -+65.0-Financial Services+35.0R&D Expenses-100.0HINO MOTORS Certification Related-284.8 -Other-40.0-Accessories/Spare Parts/Expenses,etc.-430.0ExpensesTranslational FOREX Impact Concerning Used Vehicle/Connected,etc.Other-132.6Overseas Subsidi

49、aries,etc.Other-110.0+135.0+145.016Excluding the overall impact of foreign exchange rates and swap valuation gains/losses,etc：-865.05,352.9Cost ReductionEffortsOther-25.0-327.9+540.0Effects ofFOREX Rates+55.0-895.04,700.0FY2024 Results2023.4-2024.3FY2025 New Forecast2024.4-2025.3(billions of yen)Whi

50、ch includes:Strengthening Foundation of Suppliers/Materials Prices-315.0Cost Reduction+290.0Marketing EffortsIncrease or Decrease inExpenses and Expense Reduction EffortsCost Reduction EffortsMarketing EffortsIncrease or Decrease in Expenses and Expense Reduction EffortsTotal(1)Market environment-35

51、2.9-352.9(2)Human resources-390.0-20.0-100.0-510.0(3)Growth investments-320.0-320.0Deduct(1)(2)(3)from(A)+365.0+427.9-475.0+317.9(A)(Ref.)Analysis of Consolidated Operating Income(vs.FY2024 Results)17(Ref.)Analysis of FY2025 Forecast:Consolidated Operating Income(vs.Previous Forecast)4,300.0CostRedu

52、ctionEffortsIncrease or Decrease inExpenses and Expense Reduction Efforts*3Other*4+135.0-120.0+295.0Operating Income(+400.0)Effects ofFOREX Rates*1Marketing Efforts*2147 yen/US$161 yen/152 yen/US$164 yen/+155.0Excluding the overall impact of foreign exchange rates and swap valuation gains/losses,etc

53、：+225.0-65.04,700.0Previous Forecast2024.4-2025.3New Forecast2024.4-2025.3Which includes:Strengthening Foundation of Suppliers/Materials Prices+135.0Cost Reduction0.0(billions of yen)*1 Details*2 Details*3 Details*4 DetailsTransactional(Imports/Exports)+340.0Volume,Model Mix+40.0Labor Cost0.0Valuati

54、on Gains/Losses from Swaps,etc.-15.0 -US$+285.0Value Chain+60.0Depreciation Expenses0.0Impact of Inflation Accounting,etc.-18.4 -+30.0-Financial Services+40.0R&D Expenses0.0HINO MOTORS Certification Related-54.8 -Other+25.0-Accessories/Spare Parts/Expenses,etc.-65.0ExpensesTranslational FOREX Impact

55、 Concerning Used Vehicle/Connected,etc.Other-31.8Overseas Subsidiaries,etc.Other+55.0+20.0-45.018(Ref.)Consolidated Vehicle Sales(3 months)Toyota and Lexus Vehicle Sales2,7362,72999.8%Electrified Vehicles%1,0111,284126.9%HEV9511,212127.5%PHEV3240123.3%BEV2832114.7%FCEV0051.3%Total Retail Vehicle Sal

56、es2,9682,92298.5%2023.10-12YoY2024.10-12410 442 480 473 327 318 776 695 558 516 05001,0001,5002,0002,500107.9%98.6%97.4%89.5%92.4%95.8%2,5512,444（thousands of vehicles）EuropeAsiaOtherJapanN.AmericaCentral and South America,Oceania,Africa,The Middle East,etc.Reference(retail)37.0%47.0%19(Ref.)Consoli

57、dated Financial Summary(3 months)2023.10-122024.10-12ChangeSales Revenues12,041.112,391.0+349.9Operating Income1,680.91,215.2-465.6Margin14.0%9.8%Other Income154.51,482.7+1,328.1 Share of Profit(Loss)of InvestmentsAccounted for Using the Equity Method217.6190.4-27.2Income before Income Taxes1,835.52

58、,698.0+862.4Net Income Attributable to Toyota Motor Corporation1,357.82,193.2+835.4Margin11.3%17.7%FOREX RatesUS$148 yen152 yen+4 yen159 yen163 yen+4 yen(billions of yen)*Regarding Japan:140.0(+36.5 year on year),China:30.9(-66.1 year on year),Other:19.3(+2.4 year on year)20(Ref.)Analysis of Consoli

59、dated Operating Income(3 months)1,680.91,215.2-120.0-20.0-95.0-150.0-80.7Which includes:Strengthening Foundation of Suppliers/Materials PricesCost Reduction-65.0+45.0-265.0Excluding the overall impact of foreign exchange rates and swap valuation gains/losses,etc.：(-465.6)Operating Income*1 Details*2

60、 Details*3 Details*4 DetailsTransactional(Imports/Exports)+35.0Volume,Model Mix-185.0Labor Cost-55.0Valuation Gains/Losses from Swaps,etc.-49.0 -US$+60.0Value Chain+105.0Depreciation Expenses0.0Impact of Inflation Accounting,etc.+64.6 -+10.0-Financial Services+45.0R&D Expenses-35.0HINO MOTORS Certif

61、ication Related Expenses-54.8 -Other-35.0-Accessories/Spare Parts/Expenses,etc.-60.0Other-41.5Translational FOREX Impact Concerning Used Vehicle/Connected,etc.Overseas Subsidiaries,etc.Other-15.0+60.0-155.0Cost ReductionEffortsOther*42023.10-12Effects ofFOREX Rates*1148 yen/US$159 yen/152 yen/US$163

62、 yen/(billions of yen)2024.10-12Increase or Decrease in Expenses and Expense Reduction Efforts*3Effects ofMarketing Activities*221(Ref.)Geographic Operating Income(3 months)1,101.8 189.9 116.5 240.2 3.5 816.7 76.1 152.5 193.8 43.5 558 516 776 695 327 318 480 473 410 442 Consolidated Vehicle Sales(th

63、ousands of vehicles)19.6%14.2%MarginJapanN.AmericaEuropeAsiaOtherOperating Income including Valuation Gains/Losses relating to Swaps,etc.(billions of yen)1,104.1814.6 227.4 58.3 103.1157.1238.4194.8 9.239.02024.10-120.4%9.4%3.8%7.7%-113.7-285.0+35.9-46.4+39.910.1%8.3%3.5%(92.4%)(98.6%)（107.9%）Operat

64、ing Income(billions of yen)(excluding Valuation Gains/Losses relating to Swaps,etc.)Incl.China(excl.investments accounted for using the equity method of associates and joint ventures)(89.5%)(97.4%)1.6%2023.10-122024.10-122023.10-122024.10-122023.10-122024.10-122023.10-122024.10-122023.10-1222(Ref.)C

65、hina Business/Financial Services(3 months)141.8 182.5 97.1 30.9 37.6 16.5(Ref.)China BusinessOperating Income of Consolidated Subsidiaries(billions of yen)Share of Profit of Investments Accounted for Using the EquityMethod of Associates and Joint Ventures(billions of yen)Financial Services Operating

66、 Income(billions of yen)172.0163.72023.10-122024.10-122023.10-122024.10-12523 535(102.3%)-21.1-66.2+40.7Toyota and Lexus Vehicle Retail Sales(thousands of vehicles)Excluding Valuation Gains/Losses relating to Swaps,etc.Operating Income including Valuation Gains/Losses relating to Swaps,etc.(billions

67、 of yen)23(Ref.)Transition of Financial Performance2,150.01,605.82,010.81,293.21,343.02021.32022.32023.32024.32025.31,380.01,185.01,248.4876.91,007.27,646 8,230 8,822 9,443 9,400 2021.32022.32023.32024.32025.3718.2816.91,011.7671.02021.32022.32023.32024.32025.312,651.69,027.78,051.414,062.42021.3202

68、2.32023.32024.32024.1227.2 31.3 37.2 45.0 47.0 2021.32022.32023.32024.32025.34.0 3.6 3.3 2.7 2.8 8.1 9.5 7.3 11.9 10.0 8.39.16.6 11.0 9.62,451.34,944.94,520.02,245.22,850.12021.32022.32023.32024.32025.35,352.94,700.02,197.72,995.62,725.02021.32022.32023.32024.32025.31,241.61,202.31,300.01,090.41,124

69、.22021.32022.32023.32024.32025.3(thousands of vehicles)Consolidated Vehicle Sales(trillions of yen)Sales Revenues(billions of yen)Operating IncomeNet Income Attributable toToyota Motor CorporationOperating Margin(%)(billions of yen)Net Margin(%)Dividend per Share(yen)*3 Total Liquid Assets*1Total Sh

70、areholder Return(billions of yen)Ratio to Sales Revenues(%)Depreciation Expenses(billions of yen)(billions of yen)R&D Expenses*4Capital Expenditures(billions of yen)ShareRepurchaseDividendInterest-Bearing Debt*2Net Liquid Assets*1 Cash and cash equivalents,time deposits,public and corporate bonds an

71、d its investment in monetary trust funds,excluding in each case those relating to financial services.*4 R&D activity related expenditures incurred during the reporting period8,341.3Forecast 15,079.511,579.41,153.81,116.92,111.7921.0*2 Not including lease liabilities10,517.3485260759011,313.7*3 Divid

72、ends per common share on a post-stock split(a five-for-one stock split of shares of our common stock that was conducted on October 1,2021)basis 16,366.2(Forecast)24(Ref.)FY2025 Forecast:Vehicle Production and Retail Sales生産Vehicle Production*Japan3,2803,270-10Overseas6,4206,430+10Total9,7009,7000Pre

73、vious Forecast2024.4-2025.3New Forecast2024.4-2025.3Change10,85010,8500Toyota&LexusTotal Retail Vehicle Sales*Including vehicles by Toyotas unconsolidated entities(thousands of vehicles)*RetailVehicleSales*Japan1,5001,5000Overseas8,6008,6000Total10,10010,10003,3096,663 9,972FY2024 Results2023.4-2024

74、.311,0901,5308,780 10,30925(Ref.)Definitions of Consolidated and Retail Vehicle SalesDaihatsu-and Hino-brand vehiclesNumber of vehicles produced for wholesale by Toyota Motor Corporation and its consolidated subsidiariesNumber of vehicles produced for wholesale by Toyotas unconsolidated entities(e.g.joint ventures in China,etc.)*There are a limited number of exceptional cases where sales are made other than in accordance with the flowchart above.Consolidated Vehicle SalesDistributors or Dealers outside consolidationToyota and Lexus Vehicle SalesTotal Retail Vehicle SalesCustomers