【#第一文档网# 导语】以下是®第一文档网的小编为您整理的《TOYOTA(丰田公司的财务分析)》，欢迎阅读！
The Analysis of TOYOTA Financial Report and Company Status The Overall Review On a consolidated basis for the fiscal year ended March 31, 2012, year-on-year vehicle sales improved 44 thousand units to 7.352 million units. However, net revenues decreased 2.2% to 18,583.6 billion, operating income decreased112.6 billion to 355.6 billion, and net income decreased 124.6 billion to 283.5 billion. Factors contributing to the decrease in operating income included ¥250.0 billion due to exchange rate fluctuations, ¥100.0 billion due to an increase in expenses including labor cost, etc. and ¥62.6 billion due to other factors. Factors contributing to the increase in operating income included ¥150.0 billion from marketing efforts and ¥150.0 billion from our continuous cost-reduction efforts, including companywide VA (Value Analysis) activities. The further appreciation of the Japanese yen against the U.S. dollar, the euro and other currencies reduced the profitability of exports. And for marketing efforts, although vehicle sales in North America decreased due mainly to a lack of vehicle supply caused by the Great East Japan Earthquake in March 2011, vehicle sales in Japan increased as in the second half, it experienced a strong recovery of lost opportunities due to the Japan earthquake. And in Asia, although IMVs sales were particularly affected by the supply disruption due to the Thailand floods, Etios sales in India were strong, and as a result, sales marked a new record, and contributed to higher income. The business environment in fiscal 2012 was extremely challenging due to losses in production following the Japan earthquake and the Thailand floods, in addition to yen appreciation. Nevertheless, it achieved operating income of ¥355.6 billion thanks to the concerted efforts of their employees, suppliers and dealers to recover production and sales. Through the concerted efforts of the whole Toyota group to implement cost reductions and fixed cost reductions, it made improvements to their structure for developing a strong earnings base. Also, from fiscal 2013 onward, TOYOTA will make further improvements to their structure by continuing profit improvement activities. Financial Analysis The significant parts to analysis the financial report is based on three statements, Balance sheet, Income statement and Cash flow. And if talking about the financial analysis, we should include the Solvency, Operational Capacity of Corporate Assets, and Corporate Profitability. In the three sections, we could refer to various ratios. For solvency, it divided into short term and long term. In short term, Working Capital and Current ratio have decreased for company at the 2012 year. And Debt to Total Asset Ratio has also declined 0.01. All of these tell us the company’s solvency should improve. When it comes to Operational Capacity of Corporate Assets, we may choose Asset Turnover to see the company’s sales abilities. But there is a little weak for TOYOTA. The final Corporate Profitability, we can know Profit margin on sales is increasing that show the company’s abilities making profits is excellent. Company Status For sales, in recent years, car sales of TOYOTA ranked second in the worlds, net profits have been more than 100 hundred million dollars for 5 years, and higher than competitors. We know that TOYOTA production and sales continue to grow each year. For finance, because of its huge cash, TOYOTA is called “TOYOTA Banks”. Though it is a car manufacturing industry, but its capital operation ability and financial management skills can be comparable with the financial enterprises, the ability for TOYOTA to build the stable cash flow and abundant capital support. We should refer to TOYOTA “Out of Debt Management" Approach. Firstly, increase internal retained. TOYOTA is mainly used to improve sales revenue and improve the production capacity of two kinds of method to increase internal retained. Secondly, increase the utilization rate of funds. This automobile industry is an industry, which needs a lot of money, to speed up the turnover of funds and improve the utilization rate of funds of enterprises, thereby reducing corporate debt. The installment payment system is one of the important measures to TOYOTA to speed up the capital turnover. Thirdly, control the bank loans. That is to minimize the bank loan financing, for unavoidable bank loans, TOYOTA mainly choose to provide long-term borrowing or low interest rates. Fourthly, support by government. The government's cuts reduced the operating costs of TOYOTA, indirectly increased its profit, prompting Toyota free capital growth, loans to banks and other projects. From the capital formation of the TOYOTA, we can clearly see that is the most important part of the assets of the company has its own capital, loans and corporate bonds. From 2007 to 2010 by the TOYOTA balance sheet, we can know that the company's total assets have obvious increasing trend, the owner's equity is gradually increasing, so it has been operating in good condition, brought lasting benefits to investors. Decreasing the total profit and total assets return rate has a slightly downward trend, it may be seen that TOYOTA strategy to lower prices, in order to expand the market share takes will affect the firm's overall profit. 本文来源：https://www.dywdw.cn/f20828b558fafab069dc02f4.html
下载此文档
搜索文档
阅读：
文档下载
2022-04-19
