http://www.toyo-rubber.co.jp/english/index.html ..... North America: United States of America and Canada Other Areas: Eu
Financial Fact Book
Corporate Communications Section, Corporate Planning Department, Planning Division
17-18, Edobori 1-chome, Nishi-ku, Osaka 550-8661 Japan Tel: +81-6-6441-8803 http://www.toyo-rubber.co.jp/english/index.html August 2011
2011
Financial Summary
The information stated herein is unaudited.
Corporate Data
¥ million, except per share figures
2002
2003
2004
2005
2006
2007
Net Sales
253,810
255,157
256,142
269,974
300,249
320,427
357,233 328,371
287,726
294,092
Tires
156,079
159,237
162,911
173,945
200,704
218,399
252,419 242,009
214,291
216,578
—
—
—
—
—
—
104,814
86,362
73,434
77,514
Chemical & Industrial Products
46,048
39,088
38,301
39,897
41,238
41,146
—
—
—
—
Automotive Parts
50,863
55,314
53,267
54,500
56,667
60,468
—
—
—
—
Other Businesses
818
1,517
1,661
1,631
1,639
412
—
—
—
—
Operating Income (Loss)
15,403
13,543
7,679
12,067
13,094
9,369
13,168
(2,964)
8,664
12,182
Ordinary Income (Loss)
12,434
12,082
9,197
12,603
10,453
5,789
9,893
(6,179)
8,979
9,193
Net Income (Loss)
3,260
3,656
5,520
7,480
5,378
6,015
6,137
(10,722)
2,957
521
R&D Expenditures
8,829
9,117
9,553
9,791
10,051
9,607
9,618
8,762
8,315
8,556
15,729
27,614
21,232
22,361
33,722
18,610
20,153
29,221
13,215
28,324
256,409
259,206
284,237
284,464
323,507
335,263
333,892 304,769
293,207
305,290
58,637
58,313
73,930
74,723
91,814
97,446
92,604
71,355
85,023
79,607
105,488
94,566
83,486
81,514
90,184
99,113
96,265 138,113
109,820
118,130
6,320
6,280
6,263
6,377
6,618
7,033
7,248
6,972
6,862
8,536
15.58
17.33
26.24
35.61
25.58
28.77
29.36
(48.96)
12.14
2.05
5
7
7
9
9
9
9
3
5
Year Ended March 31
Company Name:
Toyo Tire & Rubber Co., Ltd.
Head Office:
17-18, Edobori 1-chome, Nishi-ku, Osaka 550-8661, Japan Telephone: +81-6-6441-8801
Tokyo Head Office:
17-22, Takada 2-chome, Toshima-ku, Tokyo 171-8544, Japan Telephone: +81-3-5955-1200
Founded:
August 1, 1945
Representative:
Kenji Nakakura President and Chief Executive Officer Manufacture and sale of automotive tires and rubber tubes; industrial rubber and polyurethane products; and automotive parts
Number of Employees:
8,536 (consolidated basis)
Number of Consolidated: 38 Subsidiaries Number of Subsidiaries: 6 and Affiliates Accounted for by the Equity Method
Capital Expenditures
Business year:
From April 1 every year to March 31 of the following year
Common Stock Listing:
May 1949 Tokyo, Osaka, Nagoya
Paid-in Capital:
2009
2010
2011
For the Year:
DiverTech and Other Businesses
Major Operations:
2008
At the Year-end: Total Assets Net Assets
¥30,485 million
Number of Shareholders: 13,319
Interest-bearing Debt
Common Stock:
Authorized 400,000,000 shares Issued 254,358,146 shares
Transfer Agent:
Mitsubishi UFJ Trust and Banking Corporation 4-5, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan
Number of Employees
Independent Auditors:
KPMG AZSA & Co.
Annual Meeting:
The Company’s Ordinary General Meeting of Shareholders is held in June of each year in Osaka, Japan
Per Share of Common Stock: Net Income (Loss) (EPS) (¥) Cash Dividends (¥)
As of March 31, 2011
—
Notes: •Due to a change in segment classification in FY2008, the Chemical & Industrial Products, Automotive Parts and Other Businesses segments were reclassified into the DiverTech and Other Businesses segment. •Interest-bearing Debt = Commercial Paper + Bond + Short-term Debt + Long-term Debt •Net Income per Share (EPS) = Net Income/Average Number of Shares Outstanding During the Period (excluding treasury stock)
Contents 1 Corporate Data 2 Financial Summary 3 Consolidated Operating Performance 4 Consolidated Financial Position 5 Segment Information 7 Consolidated Cash Flows, Per Share Data and Other Indicators 8 Subsidiaries and Affiliates 9 Investor Information
1
2
Consolidated Operating Performance
Net Sales
Consolidated Financial Position
Operating Income (Loss)
Ordinary Income (Loss)
(¥ billion) 400
(%) 80
(¥ billion) 15
(%) 6.0
300
60
10
4.0
40
200
20
100
5
(¥ billion)
2.0
0
(¥ billion) 7.5
(%)
15
6.0
10
4.0
2.0
2.5
Total Assets and Return on Assets (ROA)
Net Assets and Return on Equity (ROE)
Interest-bearing Debt and Debt/Equity Ratio
Capital Ratio
(¥ billion) 400
(%) 6.0
(¥ billion) 100
(¥ billion) 150
(%) 3.0
30
300
4.5
75
7.5 100
2.0
20
200
3.0
50
5.0
100
1.5
25
2.5 50
1.0
10
0 ’08
’09
’10
’11
-5
-2.0 FY’07
Net Sales Cost of Sales Margin
’08
’09
’10
-10 FY’07
’11
Operating Income (Loss) Operating Income Margin
-12.5 FY’07
-2.0 ’08
’09
’10
’11
Ordinary Income (Loss) Ordinary Income Margin
(%)
0 0
0 FY’07
(%) 10.0
1.0
0
0
0
(%) 3.0
5.0
2.0
5
0
Net Income (Loss)
0
-4.0 ’08
’09
’10
’11
0
-15.0
-3.0 FY’07
Net Income (Loss) Net Income Margin
0
’08
’09
’10
’11
FY’07
’08
’09
’10
0 FY’07
’11
Net Assets ROE
Total Assets ROA
0 FY’07
0 ’08
’09
’10
’11
’08
’09
¥ million Year Ended March 31
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
For the Year:
’10
’11
Interest-bearing Debt Debt/Equity Ratio
¥ million Year Ended March 31
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
At Year-end:
Net Sales
253,810
255,157
256,142
269,974
300,249
320,427
357,233 328,371
287,726
294,092
Total Assets
256,409
259,206
284,237
284,464
323,507 335,263
333,892
304,769
293,207
305,290
Cost of Sales
174,444
176,741
181,843
187,584
212,469
233,471
259,964 253,186
212,666
214,229
Current Assets
116,264
110,304
109,061
113,092
118,178 142,636
154,912
136,757
135,865
135,154
68.73
69.27
70.99
69.48
70.76
72.86
72.77
77.10
73.91
72.84
Fixed Assets
140,099
148,899
175,070
171,299
205,300 192,617
178,980
168,011
157,342
170,135
79,366
78,416
74,298
82,390
87,780
86,956
97,268
75,185
75,060
79,863
22,534
22,565
26,424
30,094
45,803
46,096
49,231
35,878
41,411
31.27
30.73
29.01
30.52
29.24
27.14
27.23
22.90
26.09
27.16
Current Liabilities
139,197
127,363
107,000
116,342
126,028 155,692
172,290
142,924
123,550
130,137
63,962
64,873
66,619
70,322
74,685
77,586
84,099
78,149
66,395
67,680
Interest-bearing Debt
105,488
94,566
83,486
81,514
90,184
99,113
96,265
138,113
109,820
118,130
25.20
25.42
26.01
26.05
24.87
24.21
23.54
23.80
23.08
23.01
58,637
58,313
73,930
74,723
91,814
97,446
92,604
71,355
85,023
79,607
15,403
13,543
7,679
12,067
13,094
9,369
13,168
(2,964)
8,664
12,182
Return on Equity (ROE) (%)
5.64
6.25
8.35
10.06
6.46
6.43*
6.61*
(13.40*)
3.88*
0.65*
6.07
5.31
3.00
4.47
4.36
2.92
3.69
(0.90)
3.01
4.14
Return on Assets (ROA) (%)
4.77
4.69
3.38
4.43
3.44
1.76
2.96
(1.93)
3.00
3.07
12,434
12,082
9,197
12,603
10,453
5,789
9,893
(6,179)
8,979
9,193
Debt/Equity Ratio (Times)
1.80
1.62
1.13
1.09
0.98
1.04*
1.07*
1.98*
1.33*
1.52*
4.90
4.74
3.59
4.67
3.48
1.81
2.77
(1.88)
3.12
3.13
22.87
22.50
26.01
26.27
28.38
28.42*
27.04*
22.86*
28.23*
25.40*
3,260
3,656
5,520
7,480
5,378
6,015
6,137
(10,722)
2,957
521
8.43
9.24
5.66
9.97
9.41
3.86
4.43
(4.39)
3.93
5.88
1.28
1.43
2.16
2.77
1.79
1.88
1.72
(3.27)
1.03
0.18
83.50
86.61
101.93
97.21
93.77
91.61
89.91
95.69
109.97
103.85
238.93
255.34
236.81
229.25
223.60
202.13*
198.20*
241.10*
190.07*
219.43*
0.97
0.99
0.94
0.95
0.99
0.97
1.07
1.03
0.96
0.98
10.49
11.32
10.46
9.55
9.30
7.99
7.77
6.89
6.76
7.61
Cost of Sales Margin (%) Gross Profit Gross Profit Margin (%) Selling, General and Administrative Expenses (SG&A) SG&A Margin (%) Operating Income (Loss) Operating Income Margin (%) Ordinary Income (Loss) Ordinary Income Margin (%) Net Income (Loss) Net Income Margin (%)
Notes: •Cost of Sales Margin = Cost of Sales/Net Sales×100 •Gross Profit Margin = Gross Profit/Net Sales×100 •SG&A Margin = SG&A/Net Sales×100 •Operating Income Margin = Operating Income/Net Sales×100 •Ordinary Income Margin = Ordinary Income/Net Sales×100 •Net Income Margin = Net Income/Net Sales×100
Inventory
Net Assets
Capital Ratio (%) Interest Coverage (Times) Current Ratio (%) Fixed Ratio (%) Total Asset Turnover (Times) Inventory Turnover (Times)
34,451
Notes: •Interest-bearing Debt = Commercial Paper+Bond+Short-term Debt+Long-term Debt •Return on Equity (ROE) = Net Income/Average Net Assets×100 •Return on Assets (ROA) = Ordinary Income/Average Total Assets×100 •Debt/Equity Ratio = Interest-bearing Debt/Net Assets •Capital Ratio = Net Assets/Total Assets×100 •Interest Coverage = (Operating Income+Interest and Dividend Income)/Interest Expense and Discount Charge •Current Ratio = Current Assets/Current Liabilities×100 •Fixed Ratio = Fixed Assets/Net Assets×100 •Total Asset Turnover = Net Sales/Average Total Assets •Inventory Turnover = Net Sales/Average Inventories *From FY2007, the figure for net assets does not include minority interests.
3
4
Segment Information Industry Segment Information
Geographic Segment Information
Tires Sales
Tires Operating Income (Loss)
(¥ billion)
(¥ billion)
DiverTech and Other Businesses Sales
(%)
DiverTech and Other Businesses Operating Income (Loss)
(¥ billion)
250
12
8.0
200
9
6.0
150
6
4.0
100
3
2.0
50
0
0
0 FY’07
’08
’09
’10
’11
-3
FY’07
’08
’09
’10
’11
-2.0
(¥ billion)
Japan Sales
Japan Operating Income (Loss)
North America Sales
North America Operating Income
(¥ billion)
(¥ billion)
(%)
(¥ billion)
(¥ billion)
(%)
6
9.0
4
6.0
2
3.0
(%)
120
3.6
6.0
200
15
9.0
120
90
2.4
4.0
150
10
6.0
90
60
1.2
2.0
100
5
3.0
60
30
0
0
500
0
0
30
-2.0
0
-6.0
0
-2.0 FY’07*
0 FY’07*
’08
’09
’10
’11
’08
’09
’10
’11
FY’07
’08
’09
’10
’11
-10 FY’07
*The figures for the DiverTech and Other Businesses for the years FY2006 to FY2007 are the combined figures of the former business segments, including Chemical & Industrial Products, Automotive Parts and Other Businesses.
Sales Breakdown (FY2011)
’09
’10
’11
FY’07
’08
’09
’10
0
’11
DiverTech and Other Businesses 26.36%
Other Areas Operating Income (Loss)
(¥ billion)
(¥ billion) 2.0
6.0
Year Ended March 31
2002
For the Year: Tires 156,079 Sales 61.49 Share of Net Sales (%) 13,632 Operating Income (Loss) 8.73 Operating Income Margin (%) DiverTech and Other Businesses — Sales — Share of Net Sales (%) — Operating Income (Loss) — Operating Income Margin (%) Chemical & Industrial Products 46,048 Sales 18.14 Share of Net Sales (%) (84) Operating Income (Loss) (0.18) Operating Income Margin (%) Automotive Parts 50,863 Sales 20.04 Share of Net Sales (%) 1,714 Operating Income (Loss) 3.37 Operating Income Margin (%) Other Businesses 818 Sales 0.32 Share of Net Sales (%) 200 Operating Income 24.45 Operating Income Margin (%)
2003
2004
2005
2006
2007
2008
2009
2010
0
FY’07
’08
’09
’10
’11
1.5
4.5
1.0
3.0
0.5
1.5
0
0
-0.5 FY’07
-1.5 ’08
’09
’10
’10
Other Areas 14.08% Europe 7.55%
’11
Japan 45.97%
North America 32.41%
Operating Income (Loss) Operating Income Margin
2011
Geographic Segment Information 159,237
162,911
173,945 200,704
218,399
252,419 242,009
’11
Breakdown (FY2011)
20
¥ million
’09
Sales by Market
(%)
40 Tires 73.64%
’08
Operating Income Operating Income Margin
Other Areas Sales 60
0 FY’07
Operating Income (Loss) Operating Income Margin
Operating Income (Loss) Operating Income Margin
Operating Income (Loss) Operating Income Margin
’08
214,291
216,578
62.41
63.60
64.43
66.85
68.16
70.66
73.70
74.48
73.64
12,541
6,833
11,097
12,310
8,169
12,472
(1,395)
6,933
8,863
7.88
4.19
6.38
6.13
3.74
4.94
(0.58)
3.24
4.09
—
—
—
—
—
104,814
86,362
73,434
77,514
—
—
—
—
—
29.34
26.30
25.52
26.36
—
—
—
—
—
690
(1,559)
1,760
3,344
—
—
—
—
—
0.66
(1.81)
2.40
4.31
39,088
38,301
39,897
41,238
41,146
—
—
—
—
15.32
14.95
14.78
13.73
12.84
—
—
—
—
208
155
277
729
766
—
—
—
—
0.53
0.40
0.69
1.77
1.86
—
—
—
—
55,314
53,267
54,500
56,667
60,468
—
—
—
—
21.68
20.80
20.19
18.87
18.87
—
—
—
—
702
137
146
(493)
219
—
—
—
—
1.27
0.26
0.27
(0.87)
0.36
—
—
—
—
1,517
1,661
1,631
1,639
412
—
—
—
—
0.59
0.65
0.60
0.55
0.13
—
—
—
—
35
467
478
454
217
—
—
—
—
2.31
28.12
29.31
27.70
52.67
—
—
—
—
Notes: •Due to a change in segment classification in FY2008, the Chemical & Industrial Products, Automotive Parts and Other Businesses segments were reclassified into the DiverTech and Other Businesses segment. •The “Other Businesses” segment principally includes financial services and realty businesses. •Share of Net Sales = Sales of Each Industry Segment/Net Sales×100 •Operating Income Margin = Operating Income of Each Industry Segment/Sales of Each Industry Segment×100
Year Ended March 31
2002
For the Year: Japan 190,380 Sales 10,899 Operating Income (Loss) 5.72 Operating Income Margin (%) North America 47,387 Sales 3,881 Operating Income (Loss) 8.19 Operating Income Margin (%) Other Areas 16,042 Sales 826 Operating Income (Loss) 5.15 Operating Income Margin (%)
¥ million
2003
2004
184,003 182,838 10,557 8,840 5.74 4.83
2005
187,828 10,539 5.61
2006
2007
193,570 184,625 13,878 7,924 7.17 4.29
53,410 1,775 3.32
54,085 (1,811) (3.35)
66,339 1,138 1.72
81,600 52 0.06
98,112 336 0.34
17,744 1,053 5.93
19,218 761 3.96
15,806 536 3.39
25,079 1,097 4.37
37,689 (231) (0.61)
2008
2009
188,382 180,687 6,023 (9,723) 3.20 (5.38)
2010
2011
159,908 4,465 2.79
157,107 5,661 3.60
115,761 5,112 4.42
98,554 2,035 2.06
86,358 2,960 3.43
95,307 4,315 4.53
53,089 1,488 2.80
49,128 1,772 3.61
41,458 1,687 4.07
41,678 1,888 4.53
Notes: •The main countries or areas included in North America and Other Areas were as follows: North America: United States of America and Canada Other Areas: Europe, Oceania and other regions •Operating Income Margin = Operating Income of Each Geographic Segment/Sales of Each Geographic Segment×100
Sales by Market Year Ended March 31
For the Year: Japan Sales Share of Net Sales (%) North America Sales Share of Net Sales (%) Europe Sales Share of Net Sales (%) Other Areas Sales Share of Net Sales (%)
¥ million
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
173,905 68.52
166,350 65.20
163,782 63.94
167,229 61.94
168,539 56.13
168,682 52.64
167,784 46.97
150,492 45.83
136,491 47.44
135,185 45.97
47,387 18.67
53,410 20.93
54,085 21.12
66,339 24.57
81,600 27.18
98,112 30.62
115,765 32.41
98,554 30.01
86,359 30.01
95,307 32.41
— —
— —
— —
— —
— —
— —
— —
31,122 9.48
22,767 7.91
22,204 7.55
32,517 12.81
35,397 13.87
38,275 14.94
36,406 13.49
50,110 16.69
53,633 16.74
73,684 20.63
48,202 14.68
42,108 14.63
41,395 14.08
Notes: •Due to a change in regional classification in FY2009, the European region, which was previously included in “Other Areas,” is now listed separately as “Europe.” •The main countries or areas included in North America, Europe and Other Areas were as follows: North America: United States of America and Canada Europe: Germany, U.K., Italy and other countries Other Areas: Near East, Oceania, Southeast Asia and other regions •Overseas sales, include the export net sales of the Company and its domestic subsidiaries and the net sales of its overseas subsidiaries. •Share of Net Sales = Sales of Each Market/Net Sales×100
5
6
Consolidated Cash Flows, Per Share Data and Other Indicators
Subsidiaries and Affiliates
Cash Flows
Net Income (Loss) per Share (EPS) and Payout Ratio
Net Assets per Share
(¥ billion) 50
(¥) 40
(%) 400
(¥) 500
30
300
400
Domestic Facilities
25
20
200
300
10
100
200
Consolidated Subsidiaries
Head Office (Osaka)
Domestic
Overseas
Tokyo Head Office (Tokyo)
Fukushima Rubber Co., Ltd.
Toyo Tire Holdings of Americas Inc. (U.S.A.)
Tokyo Head Office (Kanda) (Tokyo)
Toyo Soflan Co., Ltd.
Toyo Tire U.S.A. Corp. (U.S.A.)
Ayabe Toyo Rubber Co., Ltd.
Nitto Tire U.S.A. Inc. (U.S.A.)
Toyo Tires Logistics Co., Ltd.
Toyo Tire North America OE Sales LLC (U.S.A.)
Soflan Wiz Co., Ltd.
Toyo Tire North America Manufacturing Inc. (U.S.A.)
Toyo Advanced Technology Incorporated
Toyo Tire Mexico LLC (U.S.A.)
Toyo Tire Japan Co., Ltd
Toyo Automotive Parts (USA), Inc. (U.S.A.)
Nitto Japan Co., Ltd
Toyo Tire Canada Inc. (Canada)
Hyogo Manufacturing Complex (Hyogo Plant) (Hyogo)
Toyo Chemical/Industrial Products Sales Corporation
Nitto Tire Canada Inc. (Canada)
R&D Center (Osaka)
Toyo Seiki Co., Ltd. Showa Estate Co., Ltd.
Nagoya Office (Aichi)
0
Hiroshima Office (Hiroshima) Sendai Plant (Miyagi)
-25 0
-50 FY’07
’08
’09
’10
0
-50 FY’07
’11
Net Cash Provided by (Used in) Operating Activities Net Cash Used in Investing Activities Free Cash Flows
’08
’09*
’10
*No payout ratio is listed for FY2009 because no dividend was paid.
’11
Kuwana Plant (Mie)
100
0 FY’07
Hyogo Manufacturing Complex (Akashi Plant) (Hyogo) ’08
’09
’10
’11
EPS Payout Ratio
(As of March 31, 2011)
Price/Earnings Ratio (PER)
Price/Book Value Ratio (PBR)
Tire Technical Center (Hyogo)
(Times) 06 のフリー・キャッシュ・フローのみ実際の数値でない。 100
(Times) 1.2
Automotive Parts Technical Center (Aichi)
Orient Koki Co., Ltd.
Automotive Parts East Japan Technical Center (Chiba)
Sendai Service Co., Ltd.
実際の数値では高さがないため 見えるよう最低値を 5 とした。
75
0.9
50
25
0 FY’07
’08
’09*
’10
’11
*No price/earnings ratio is listed for FY2009 because the figure for net income per share for FY2009 was negative.
Toyo Tire Europe GmbH (Germany) Toyo Tyre (UK) Ltd. (U.K.) Toyo Tire Benelux B.V. (Netherlands)
F.T.G Co., Ltd.
Toyo Tire Italia S.p.A. (Italy) TOYO TIRE RUS LLC (Russia)
Kuwana Service Co., Ltd.
Miyazaki Tire Test Course (Miyazaki)
0.6
NT Mexico S.de R.L.de C.V. (Mexico)
Toyo Tyre & Rubber Australia Ltd. (Australia) Silverstone Berhad (Malaysia)
Saroma Tire Test Course (Hokkaido)
0.3
Silverstone Marketing Sdn Berhad (Malaysia) 0 FY’07
’08
’09
’10
Silverstone Polymer Industries Sdn Berhad (Malaysia)
’11
Toyo Tire (Shanghai) Co., Ltd. (China)
Consolidated Cash Flows Year Ended March 31
TOYO TIRE (Zhangjiagang) Co., Ltd. (China)
¥ million
2002
2003
2004
2005
2006
2007
2008
2009
2010
Toyo Automotive Parts (Guangzhou) Co., Ltd. (China)
2011
For the Year: 22,846 28,821 23,518 26,716 10,580 14,494 (13,165) 36,838 23,976 Net Cash Provided by (Used in) Operating Activities 28,402 (3,293) (36,363) Net Cash Used in Investing Activities (13,751) (15,473) (21,021) (18,210) (28,363) (10,761) (16,037) (33,576) (10,540) (11,849) (11,827) (3,542) 5,387 5,799 (4,530) 55,896 (23,287) 9,856 Net Cash Provided by (Used in) Financing Activities 14,651 7,373 7,800 5,308 (1,647) (181) (1,543) (46,742) 33,544 (12,386) Free Cash Flows 11,849 7,749 9,804 11,697 16,346 10,733 18,815 30,576 28,071 Cash and Cash Equivalents at End of the Year 16,664
Toyo Rubber Chemical & Industrial Products (HK) Ltd. (China)
Overseas Network
Note: Free Cash Flows = Net Cash Provided by Operating Activities+Net Cash Used in Investing Activities
Per Share Data
Yen
Year Ended March 31
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
At Year-end: Common Stock Price Net Income (Loss) per Share (EPS) Net Assets per Share Price/Earnings Ratio (PER) (Times) Price/Book Value Ratio (PBR) (Times) Cash Dividend per Share Payout Ratio (%)
178 15.58 280.20 11.42 0.64 5 32.09
224 17.33 278.61 12.93 0.80 7 40.39
260 26.24 353.31 9.91 0.74 7 26.68
359 35.61 357.17 10.08 1.01 9 25.27
515 25.58 438.98 20.13 1.17 9 35.18
492 28.77 455.83* 17.10 1.08 9 31.28
320 29.36 432.04* 10.90 0.74 9 30.65
124 (48.96) 304.30* — 0.41 — —
218 12.14 325.83* 17.95 0.67 3 24.71
204 2.05 305.19* 99.39 0.67 5 243.90
Notes: •Net Income per Share (EPS) = Net Income/Average Number of Shares Outstanding During the Period (excluding treasury stock) •Net Assets per Share = Net Assets/Average Number of Shares Outstanding During the Period (excluding treasury stock) •Price/Earnings Ratio (PER) = Common Stock Price at Year-end/Net Income per Share •Price/Book Value Ratio (PBR) = Common Stock Price at Year-end/Net Assets per Share •Payout Ratio = Cash Dividends per Share/Net Income per Share×100 *From FY2007, the figure for net assets does not include minority interests.
2002
2003
2004
2005
2006
2007
2008
TOYO TIRE RUS LLC (Moscow, Russia) Toyo Tire Benelux B.V. (Roosendaal, Netherlands) Toyo Tire Europe GmbH (Willich, Germany) Toyo Tire Italia S.p.A. (Collesalvetti, Italy)
TOYO TIRE (Zhangjiagang) Co., Ltd. (China) Toyo Tire (Shanghai) Co., Ltd. (Shanghai, China) Toyo Automotive Parts (Guangzhou) Co., Ltd. (Guangzhou, China) Toyo Rubber Chemical & Industrial Products (HK) Ltd. (Hong Kong, China)
Toyo Tire Holdings of Americas Inc. Toyo Tire U.S.A. Corp. Nitto Tire U.S.A. Inc. Toyo Tire North America OE Sales LLC (California, U.S.A.) Toyo Tire Mexico LLC (California, U.S.A.) NT Mexico S.de R.L.de C.V. (Tijuana, Mexico)
Toyo Tire Canada Inc. Nitto Tire Canada Inc. (British Columbia, Canada)
Toyo Automotive Parts (USA), Inc. (Kentucky, U.S.A.) Toyo Tire North America Manufacturing Inc. (Georgia, U.S.A.)
Silverstone Berhad (Malaysia) Silverstone Marketing Sdn Berhad (Malaysia) Silverstone Polymer Industries Sdn Berhad (Malaysia)
R&D Expenditures, Capital Expenditures, Number of Shares Outstanding and Number of Employees Year Ended March 31
Toyo Tyre (UK) Ltd. (Northants, U.K.)
2009
2010
¥ million
2011
For the Year: 8,829 9,117 9,553 9,791 10,051 9,607 9,618 8,762 8,315 8,556 R&D Expenditures 3.48 3.57 3.73 3.63 3.35 3.00 2.69 2.67 2.89 2.91 R&D Expenditures to Net Sales (%) 15,729 27,614 21,232 22,361 33,722 18,610 20,153 29,221 13,215 28,324 Capital Expenditures 6.20 10.82 8.29 8.28 11.23 5.81 5.64 8.90 4.59 9.63 Capital Expenditures to Net Sales (%) At year-end: Number of Shares Outstanding (Thousand shares) 209,284 209,284 209,284 209,284 209,284 209,284 209,284 229,284 254,358 254,358 6,320 6,280 6,263 6,377 6,618 7,033 7,248 6,972 6,862 8,536 Number of Employees (Person)
Toyo Tyre & Rubber Australia Ltd. (New South Wales, Australia)
Notes: •R&D Expenditures to Net Sales = R&D Expenditures/Net Sales×100 •Capital Expenditures to Net Sales = Capital Expenditures/Net Sales×100
7
8
Investor Information
Common Stock (As of March 31, 2011)
Breakdown by Shareholder (Thousand shares)
1. Number of Shareholders 13,319
Japanese financial instruments firms 2,613 Foreign 1.03% investors 36,193 14.23%
2. Number of Shares Outstanding 254,358,146 3. Average Number of Shares Held per Shareholder 19,097 4. Principle Shareholders Shareholders
Number of shares Percentage of shares held (Thousand) ownership (%)
Japanese individuals and other investors 43,236 17.00%
Japan Trustee Services Bank, Ltd. (trust account)
30,946
12.18
Bridgestone Corporation
20,000
7.87
Mitsubishi Corporation
12,870
5.06
The Master Trust Bank of Japan, Ltd. (trust account)
11,146
4.38
Toyota Motor Corporation
9,549
3.75
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
9,410
3.70
Japan Trustee Services Bank, Ltd. (trust account 9)
8,511
3.35
5,000 to 9,999 7,035 2.77%
Japan Trustee Services Bank, Ltd. (The Sumitomo Trust and Banking Co., Ltd.’s retrust account, Toyobo Co., Ltd. retirement benefit trust account)
7,776
3.06
10,000 to 49,999 14,381 5.65%
Nippon Life Insurance Company
5,079
1.99
The Yokohama Rubber Company, Ltd.
4,000
1.57
Japanese financial institutions 100,842 39.64%
National and local government organizations 5 0.00%
Other Japanese corporations 71,469 28.10%
Breakdown by the Number of Holding Shares (Thousand shares) Less than 5,000 14,089 5.54%
More than 00,000 218,853 86.04%
Note: Percentage of share ownership is calculated excluding treasury stock (307,234 shares).
Common Stock Price Range (Tokyo Stock Exchange)
As of March 31, 2011
(¥)
600
500
400
300
200
100
0 (Trading volume: million shares)
10,000 8,000 6,000 4,000 2,000 0 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 FY2008
9
2009
2010
2011
This Financial Fact Book ’11 was published in August, 2011. The trademarks of TOYO TIRES — the product names, the service names, etc., printed in the Financial Fact Book ’11 — are japanese registered trademarks or trademarks of Toyo Tire & Rubber Co., Ltd.
