April 25, 2024

Hino Motors, Ltd.

1/18

Financial results topics for FY2024

Results in FY2024

Forecasts for FY2025

Unit sales

income

Operating

Extraordinary income

income

Net

Global unit sales

Global unit sales

130.2 thousand units

・Japan 36.3 thousand units %>

134.0 thousand units

・Japan 42.0 thousand units %>

Decrease 10.0％ year

・Overseas 93.9 thousand units ％>

Increase 2.9％ year on

・Overseas 92.0 thousand units ％>

on year

year

-8.1 billion yen

・Operating loss due to the hovering prices of

20.0 billion yen

・Improvement in profitability due to the

Decrease 25.5 billion

Increase 28.1 billion

improvement of Toyota business and curtailment

materials and the augmentation of fixed costs

yen year on year

yen year on year

of fixed costs

Certification in Japan

・Compensation for customers, suppliers, and

Certification in Japan

・Fully allocated in FY2024

-7.2 billion yen

others

－

Certification in overseas

・Settlement of the class-action lawsuit in North

Certification in overseas

-36.4

－

・The investigation by authorities is underway.

billion yen

America

Asset utilization

・Sale of the west side of land of Hino Factory (50.2

Asset utilization

billion yen)

・The effective use of assets owned is under

+111.6 billion yen

・Sale of Hidaka Motor Pool (parking area) (40.3 billion

－

discussion.

yen)

・Promotion of sale of shares owned (19.5 billion yen)

17.1 billion yen

TBD

Increase 134.8 billion

yen year on year

2/18

  1. Sales Turnover
  2. Consolidated Income Statements
  3. FY2025 Full-year Forecast

3/18

Global Unit Sales (Retail Sales) (Unit Sales in Each Region)

・Global unit sales stood at 130.2 thousand units, decrease 14.4 thousand units year on year (increase 0.1 thousand units in Japan, decrease 14.5 thousand units overseas).

・Overseas unit sales dropped year on year, mainly in Asia, due to the slowdown of the economy in each country.

144,614

(Units)

130,199

Global

-14,415

(-10.0%)

36,167

36,253

Japan

+86

(＋0.2%)

69,899

Overseas

54,611

Asia

-15,288

(-21.9%)

108,447

93,946

Central and

-292

15,304

(-1.9%)

15,596

-14,501

South America

(-13.4％)

7,289

North America

+1,336

(＋22.4%)

5,953

6,983

6,980

Oceania

-3

(-0.0%)

5,122

5,556

Middle East

+434

(＋8.5%)

4,076

4,010

Africa

-66

(-1.6%)

818

196

Europe

-622

(-76.0%)

FY2023

FY2024

4/18

Truck and Bus Market in Japan

Total demand: Increase 14% year on year, thanks to the recovery of manufacturing in each company due to the improvement of supply of parts such as semiconductors

Hino's sales: The sales volume of medium and heavy-duty trucks increased year on year due to the resumption of shipment of some models, but overall performance was unchanged year on year, due to the restrictions on manufacturing of truck bodies, etc.

Total demand

(Units)

Total

+18,510

149,472

(＋14.1%)

130,962

+12,580

67,621

HDT/MDT (＋22.9%)

55,041

76,045

LDT

+3,461

72,584

(＋4.8%)

3,337

5,806

Bus

+2,469

(＋74.0%)

FY2023

FY2024

Hino's sales (Retail)

[Share]

The number in [] represents share

The number in () represents year on year increase / decrease rate

36,167

36,253

Total

+86

(＋0.2%)

〔27.6%〕

〔24.3%〕

〔Share -3.3P〕

11,893

15,245

HDT/MDT

+3,352

〔21.6%〕

〔22.5%〕

(＋28.2%)

〔Share -0.9P〕

23,728

-3,870

〔32.7%〕

19,858

LDT

(-16.3%)

〔26.1%〕

〔Share -6.6P〕

546

1,150

Bus

+604

(2.1 times)

〔16.4%〕

〔19.8%〕

FY2023

FY2024

5/18

Sales Volumes in Indonesia and Thailand (Retail Sales)

Indonesia: Sales volume dropped year on year due to the downturn of prices of resources for medium and heavy-duty trucks, and the decline in demand for light-duty trucks.

Thailand: Demand shrank due to economic slowdown, including inflation and the decline in export.

Indonesia

(Units)

31,694

25,402

Total

-6,292

(-19.9%)

17,785

15,394

HDT

-2,391

(-13.4%)

/MDT

13,909

10,008

LDT

-3,901

(-28.0%)

FY2023

FY2024

Thailand

(Units)

13,355

Total

-2,611

10,744

(-19.6%)

11,376

HDT/

-2,735

8,641

MDT

(-24.0%)

1,979

2,103

LDT

+124

(＋6.3%)

FY2023

FY2024

6/18

Consolidated Sales of TOYOTA Brand Vehicles and Unit

・Vehicles: Sales volume dropped, due to the impact of supply of parts, etc.

・Units: Units increased in North America, thanks to the end of manufacturing adjustment in response to the shortage of semiconductors in the previous year, but the total number of units decreased, due to the decline in demand in Thailand.

Vehicle

(Units)

127,858

Total

-23,532

21,321

(-18.4%)

104,326

15,505

Loading

-5,816

vehicles

(-27.3%)

106,537

-17,716

88,821

SUV

(-16.6%)

FY2023

FY2024

Units

(Units)

(in Thailand and the U.S.)

873,902

Total

-85,190

788,712

(-9.7%)

460,663

359,332

Thailand

-101,331

(-22.0%)

413,239

429,380

The U.S.

+16,141

(＋3.9%)

FY2023

FY2024

7/18

  1. Sales Turnover
  2. Consolidated Income Statements
  3. FY2025 Full-year Forecast

8/18

Consolidated Income Statements

(Billions of yen)

Item

FY2024

FY2023

Change

Net sales

1,516.3

1,507.3

＋9.0

(-0.5%)

(1.2%)

(-1.7p)

Operating income

-8.1

(-0.6%)

(1.0%)

Ordinary income

-9.2

Profit attributable (1.1%)

(-7.8%)

to owners of parent

17.1

Note: Figures in parentheses indicate profit margin on sales.

■ Consolidated unit sales

(Units)

FY2024

FY2023

Change

38,572

37,988

584

Japan

＋

Overseas

92,056

113,867

-21,811

TOYOTA brand

104,326

127,858

-23,532

17.4

-25.5

(-1.6p)

15.8

-25.0

(＋8.9p)

-117.7

＋134.8

  • Exchange rate

FY2024

FY2023

US$

142

135

THB

4.09

3.82

IDR (100)

0.94

0.90

A$

94

93

9/18

Analysis of Consolidated Operating Income［Year-on-Year Comparison］

  • The increase in sales was posted, due to the

of heavy-duty trucks due to the resumption of shipment of A09C and the yen depreciation increased profit, but an operating loss worsening of the market condition (since the previous year) and the augmentation of fixed costs.

(Billions of yen)

Operating income -25.5 (17.4 → -8.1)

(thousand vehicles)

FY2023

FY2024

Change

HDT

6.0

11.3

+5.3

MDT

6.5

5.3

-1.2

LDT

24.9

20.9

-4.0

Buses

0.6

1.1

+0.5

Total

38.0

38.6

+0.6

FY2023 Results

Domestic

Overseas TOYOTA etc.

Effects of sales

FX

Market

Environmental change

Cost

Change in cost

FY2024

improvement

and overhead

Results

Japan

Overseas

Toyota, etc.

Exchange rate (Apr. to Mar.)

Market fluctuation

Changes in costs

Vehicles (Breakdown shown above)

+23.2

Unit sales

-22.8

Vehicles

-5.0

USD〈135

→ 142〉

+6.0

-6.8

-23.9

-1.0

Price

+5.7

Price (new/ripple effect)

+19.2

Overseas unit

-7.1

IDR 〈0.90

→ 0.94〉

+3.4

Materials

-8.8

Quality (Campaign in North America)

-14.6

Inflation of labor costs

-1.6

TS

+8.9

TS

+4.0

PT

-0.7

THB 〈3.82 → 4.09〉

+6.7

Logistics

+0.7

Litigation related costs

-3.4

Development costs

+0.6

Suppliers, etc.

+4.6

AUD 〈93

→ 94〉

+0.9

Energy

+1.3

Integration project consulting

-2.0

-2.3

TWD 〈4.44 → 4.48〉

+0.6

-33.0

Project production preparation

-1.8

Operation loss, etc.

-2.3

Other

+0.6

Materials, etc

-33.0

Development in North America

-1.6

Effect of exchange rate

-6.3

Business base fortification

-1.2

changes on fixed costs

Other

+0.7

Total

+37.8

+0.4

-8.2

+11.9

-39.8

-27.2

10/18

Attachments

Disclaimer

Hino Motors Ltd. published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 06:58:06 UTC.