Toyota Motor Corporation (NYSE:TM) Q4 2024 Earnings Call Transcript May 8, 2024 1:00 AM ET
Company Participants
Ellie Gibbs - Public Affairs
Yoichi Miyazaki - EVP and CFO
Koji Sato - President and CEO
Conference Call Participants
Hans Greimel - Automotive News
Mizuno Tetsuya - Yomiuri
Tsuyoshi Inajima - Bloomberg
Kana Inagaki - Financial Times
Ellie Gibbs
Ladies and gentlemen, thank you very much for joining us despite your occupied schedules. We would like to start the financial results announcement for the fiscal year ended March 2024. My name is Ellie of Public Affairs Department. I will be serving as a moderator. First of all, Executive Vice President and Financial -- Chief Financial Officer, Yoichi Miyazaki will explain the overview of the financial results.
Yoichi Miyazaki
Miyazaki is my name. CFO of TMC. Thank you very much for getting together for this session today. We would like to express a heart-felt appreciation to our customers around the world who chose us as well as our shareholders, dealers and suppliers who support us.
We will now explain the summary of the financial results for the fiscal year ended March 2024. For many years, we have been committed to product and region-based management. Thanks to the support and cooperation of many stakeholders, including employees as well as suppliers and dealers. The actual operating income was JPY5.35 trillion for the fiscal year ended in March 2024. The operating income forecast for the fiscal year ending March 2025 is JPY4.3 trillion after a total of JPY2 trillion in investments for the future to maintain the profit structure from the previous fiscal year and to increase the attractiveness of the automotive industry as a whole, and to grow together with all stakeholders.
Investments for the future of JPY2 trillion includes JPY380 billion in investment in Human Resources and JPY1.7 trillion in investments in transforming the company into a mobility company. As for shareholder returns, we will increase the year-end dividend to JPY45 per share, an increase of JPY10 compared to the previous year and set the annual dividend at JPY75, totaling over JPY1 trillion. We set aside JPY1 trillion as a maximum limit of share repurchases and will cancel 520 million shares equivalent to JPY2 trillion worth of treasury shares.
So let me explain the summary of our performance for the fiscal year ending March 2024. Consolidated vehicle sales for this fiscal year was at 9.443 million units, which was 107.0% of consolidated vehicle sales for the previous fiscal year. Toyota and Lexus vehicle sales were 10.309 million units, which was and 107.3% of such sales for the previous fiscal year. Sales volumes increased except in Japan, which was affected by the suspension of shipments by Daihatsu Motor Company and Toyota Industries Corporation. Also, we increased the sales of electrified vehicles mainly HEVs with electrified vehicles constituting 37.4% of total sales.