Toyota Q3 2010 Earnings Call Transcript
Toyota Motor Corp. (
TM)
Q3 2010 Earnings Call Transcript
February 4, 2010 8:00 a.m. ET
Executives
Taro Takado – Public Affairs and Investor Relations
Takuo Sasaki – Managing Officer, Finance and Accounting
Keiko Morita – Narrator
Analysts
Steve Usher – Japaninvest
Margaret Moore – DuPont Capital Management Corporation
Kurt Sanger – Deutsche Bank
Benjamin Moyer – Blackrock
James Irwin – Moon Capital Management
John Buckland – MF Global
Presentation
Taro Takado
Hello, everyone. Thank you for joining us today. I am Taro Takado, member of the Public Affairs and Investor Relations of Toyota Motor Corporation. I would like to welcome you to the Fiscal Year 2010 Third Quarter Financial Results Conference Call. I am joined by Mr. Takuo Sasaki, Managing Officer of Toyota and the narrator, Ms. [Keiko Morita].
Today''s conference call is consist of two parts. First, Mr. Sasaki will discuss the highlights of Toyota''s earning results and Ms. Morita will take over the rest of the presentation. At the conclusion of presentation, we will open for your questions. We expect that the entire call will last approximately an hour.
Also please note that the following presentation contains forward-looking statements that reflects our plans and expectations and our actual results may be materially different from those expressed by these forward-looking statements. A complete cautionary statement with respect to forward-looking statements is included in page three of today''s presentation material. In addition, a complete cautionary statement with respect to insider trading is included in page four of today''s presentation material which, again can be downloaded from our Internet homepage.
Now, I would like to turn the call over to Mr. Sasaki.
Takuo Sasaki
Hello, everyone. My name is Takuo Sasaki, the Managing Officer of Toyota Motor Corporation responsible for Finance and Accounting. Thank you for joining us today. I would like to discuss Toyota''s financial results for the third quarter of the fiscal year ending March 2010.
Our consolidated vehicle sales for the third quarter reached 2.065 million vehicles, up 227,000 vehicles from the same period last year as a result of customer demand for our wide range of environmentally-friendly, particularly hybrid, vehicles, including Prius and Lexus HS250H.
The right side of this slide shows our consolidated vehicle sales for the nine months ended December 2009. The results were down 894,000 vehicles from the same period last year due to the adverse market conditions triggered by the global financial crisis mainly during the first half of the fiscal year.
The foreign exchange rate used for the third quarter is 90 yen against the U.S. dollar, an appreciation of 6 yen compared to the same period last year and 133 yen against the euro, a depreciation of 6 yen compared to the same period last year.
Our consolidated financial performance for the third quarter resulted in net revenues of 5,292.9 billion yen, operating income of 189.1 billion yen, pre-tax income of 224.9 billion yen and net income of 153.2 billion yen.
Now, I''d like to hand the rest of today''s presentation over to Ms. Morita.
Keiko Morita
