Toyota Tsusho Corp. Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2016; Provides Earnings Guidance for the Year Ending March 31, 2017
July 28, 2016
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Toyota Tsusho Corp. reported consolidated earnings results for the first quarter ended June 30, 2016. For the quarter, the company reported operating income of ¥30,026 million, ordinary income of ¥43,392 million, profit before income taxes of ¥41,218 million, and net income attributable to owners of the parent of ¥21,399 million on net sales of ¥1,862,834 million against operating income of ¥30,562 million, ordinary income of ¥35,445 million, profit before income taxes of ¥34,686 million, and net income attributable to owners of the parent of ¥12,985 million on net sales of ¥2,138,417 million reported for the same period a year ago. Net cash provided by operating activities was ¥47,321 million compared to ¥63,043 million a year ago. Purchase of property, plant and equipment was ¥31,671 million compared to ¥16,068 million a year ago. Purchase of intangible assets was ¥6,640 million compared to ¥2,333 million a year ago.
The company provided earnings guidance for the year ending March 31, 2017. For the year ending March 31, 2017, the company expects operating income of ¥144.0 billion, ordinary income of ¥150.0 billion, and net income attributable to owners of the parent of ¥70.0 billion on net sales of ¥7,300.0 billion.
Toyota Tsusho Corporation is a diversified group organized around 7 areas of activity:
- production of metal (24.1% of net sales): steel bars, flat steel, wires, pipes, aluminum, etc.;
- manufacturing of chemical products and electronic components (23.2%);
- production of automobile components and accessories (12.4%). Toyota Tsusho Corporation also offers logistics services and tire assembly services;
- manufacturing of industrial machines equipment and gas (10.9%);
- sale of vehicles (7.9%): private cars, vans, heavy vehicles and motorbikes/scooters. The group also sells spare parts and offers after-sales services;
- manufacturing of food products (7.7%);
- other (13.8%): sale of insurance products (life, health, accident and house), accommodation services, sale of medical equipment and services, sale of textile products and office supplies.
Net sales are distributed geographically as follows: Japan (30.8%), China (14.4%), Africa (13.7%), the United States (9.8%) and other (31.3%).
Toyota Tsusho Corp. Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2016; Provides Earnings Guidance for the Year Ending March 31, 2017