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Transcript of Integrated Report 2019 - Toto Ltd. · PDF file Dividend per share*2 10.00 yen 10.00 yen 10.00...

  • TOTO GROUP

    Integrated Report 2019

    Financial and Non-Financial Data

  • FINANCIAL DATA

    Ten-Year Summary of Selected Financial Data

    (Unit: Million yen)

    FY2009 (March 31, 2010)

    FY2010 (March 31, 2011)

    FY2011 (March 31, 2012)

    FY2012 (March 31, 2013)

    FY2013 (March 31, 2014)

    Net sales 421,929 433,557 452,686 476,275 553,448

    Cost of sales 275,639 273,259 286,803 303,231 341,780

    Cost of sales ratio 65.3% 63.0% 63.4% 63.7% 61.8%

    Selling, general and administrative (SG&A) expenses 139,699 146,284 147,102 149,667 164,485

    SG&A ratio 33.1% 33.7% 32.5% 31.4% 29.7%

    Operating profit 6,589 14,014 18,779 23,376 47,181

    Operating margin 1.6% 3.2% 4.1% 4.9% 8.5%

    Profit attributable to owners of parent and net loss 878 5,115 9,270 16,956 44,122

    Profit attributable to owners of parent and net loss ratio 0.2% 1.2% 2.0% 3.6% 8.0%

    Capital investment 11,607 26,214 32,253 19,934 34,575

    Depreciation and amortization 20,575 19,746 18,348 19,508 14,922

    Research and development (R&D) costs 13,113 15,606 16,643 15,983 17,428

    R&D cost ratio 3.1% 3.6% 3.7% 3.4% 3.1%

    Total assets 378,266 379,215 377,072 408,454 476,387

    Current assets 180,149 184,203 181,554 205,485 258,800

    Non-current assets 198,116 195,011 195,518 202,969 217,586

    Total liabilities 189,717 199,050 191,491 195,043 219,790

    Net assets 188,549 180,164 185,580 213,410 256,596

    Operating cash flow 33,627 28,117 19,678 44,498 48,015

    Investment cash flow –14,828 –22,758 –22,446 –22,971 –4,033

    Financial cash flow –12,223 –7,260 –12,164 –2,178 –23,328

    Free cash flow*1 18,799 5,359 –2,768 21,527 43,982

    Dividend per share*2 10.00 yen 10.00 yen 10.00 yen 14.00 yen 23.00 yen

    ROE (Net profit base) 0.5% 2.8% 5.2% 8.8% 19.4%

    ROA (Operating profit base) 1.7% 3.7% 5.0% 6.0% 10.7%

    EPS*2 2.5 yen 14.9 yen 27.1 yen 49.5 yen 130.2 yen

    BPS*2 530.4 yen 513.5 yen 525.6 yen 602.2 yen 737.7 yen

    Total asset turnover 1.10 1.14 1.20 1.21 1.25

    Equity ratio 48.6% 46.2% 47.7% 50.6% 52.0%

    Number of shares outstanding (excluding treasury stock/period average)*2 346,391,504 344,259,297 342,013,603 342,892,129 338,911,922

    *1 Free cash flow = Operating cash flow + Investment cash flow *2 We have changed the number of shares constituting one unit to 100 shares from 1,000 shares and also consolidated its shares (consolidate two shares to one share) on October 1,

    2015. The amount for the total annual dividends per share in FY2015 is omitted and shown as a dash (–) as the 2nd quarter-end dividends per share and the fiscal year-end dividends per share cannot be simply added. In addition, the amount for the dividends per share are 15.00 yen (before share consolidation) for 2nd quarter-end dividends and 34.00 yen (after share consolidation) for fiscal year-end dividends.

    1 TOTO GROUP Integrated Report 2019 Financial and Non-Financial Data

  • (Unit: Million yen)

    FY2014 (March 31, 2015)

    FY2015 (March 31, 2016)

    FY2016*3

    (March 31, 2017) FY2017*3

    (March 31, 2018) FY2018*3

    (March 31, 2019)

    Net sales 544,509 567,889 567,305 592,301 586,086

    Cost of sales 337,285 351,599 348,407 368,148 371,565

    Cost of sales ratio 61.9% 61.9% 61.4% 62.2% 63.4%

    Selling, general and administrative (SG&A) expenses 169,796 170,152 171,451 171,550 174,354

    SG&A ratio 31.2% 30.0% 30.2% 29.0% 29.7%

    Operating profit 37,426 46,137 47,446 52,602 40,167

    Operating margin 6.9% 8.1% 8.4% 8.9% 6.9%

    Profit attributable to owners of parent and net loss 24,813 35,723 32,960 36,798 32,380

    Profit attributable to owners of parent and net loss ratio 4.6% 6.3% 5.8% 6.2% 5.5%

    Capital investment 40,264 40,674 26,776 38,180 57,329

    Depreciation and amortization 17,227 18,397 18,994 21,357 23,347

    Research and development (R&D) costs 18,466 19,098 19,388 20,594 21,158

    R&D cost ratio 3.4% 3.4% 3.4% 3.5% 3.6%

    Total assets 516,995 536,265 553,996 564,319 574,960

    Current assets 266,637 279,383 282,076 277,845 287,630

    Non-current assets 250,357 256,882 271,920 286,473 287,329

    Total liabilities 236,412 250,743 247,942 222,099 228,301

    Net assets 280,582 285,522 306,053 342,219 346,658

    Operating cash flow 34,713 58,695 62,604 45,489 14,593

    Investment cash flow –30,040 –29,952 –35,257 –36,374 –26,928

    Financial cash flow –11,393 –15,053 –18,905 –11,244 14,562

    Free cash flow*1 4,673 28,742 27,347 9,115 –12,335

    Dividend per share*2 26.00 yen — yen 68.00 yen 72.00 yen 90.00 yen

    ROE (Net profit base) 10.0% 13.1% 11.5% 11.7% 9.6%

    ROA (Operating profit base) 7.5% 8.8% 8.7% 9.4% 7.1%

    EPS*2 73.8 yen 212.0 yen 194.9 yen 217.5 yen 191.3 yen

    BPS*2 802.8 yen 1,631.9 yen 1,756.0 yen 1,968.6 yen 2,000.4 yen

    Total asset turnover 1.09 1.08 1.04 1.05 1.02

    Equity ratio 52.3% 51.5% 53.6% 59.1% 58.9%

    Number of shares outstanding (excluding treasury stock/period average)*2 336,233,556 168,480,574 169,146,109 169,187,042 169,300,355

    *3 Starting from FY2017, the currency conversion method for overseas Group companies’ profit and loss was changed from the method using rates on the last day of each term to the method using average rates during each term. In accordance with this change, the figures for FY2016 in this material have been revised retroactively.

    TOTO GROUP Integrated Report 2019 Financial and Non-Financial Data 2

  • FINANCIAL DATA

    Financial Highlights

    2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

    40,167

    6.9

    52,602

    8.9

    6,589

    1.6

    14,014

    3.2

    18,779 4.1

    23,376

    4.9

    47,181

    8.5 37,426

    6.9 8.1

    47,446

    8.4

    46,137

    0

    3.0

    6.0

    9.0

    12.0

    0

    15,000

    30,000

    45,000

    60,000

    21,158

    3.6

    20,594

    3.5 3.1

    15,606

    3.6

    16,643

    3.7

    15,983

    3.4

    17,428

    3.1

    18,466

    3.4 3.4

    19,388

    3.4

    19,098

    13,113

    0

    1.5

    3.0

    4.5

    6.0

    0

    6,000

    12,000

    18,000

    24,000

    2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

    7.1

    9.4

    1.7

    3.7

    5.0

    6.0

    10.7

    7.5

    8.8 8.7

    0

    2.0

    4.0

    6.0

    8.0

    10.0

    12.0

    2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

    592,301

    2009 2010 2011 2012 2013 2014 2015 2016 2017 20180

    100,000

    200,000

    300,000

    400,000

    500,000

    600,000 567,305 586,086

    421,929 433,557

    452,686

    476,275

    553,448 567,889

    544,509

    32,380 36,798

    5.56.2

    32,960

    5.8

    878 0.2

    5,115 1.2

    9,270

    2.0

    16,956 3.6

    44,122 8.0

    24,81324,813 4.6

    35,723

    6.3

    2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 0

    2.0

    4.0

    6.0

    8.0

    10.0

    0

    10,000

    20,000

    30,000

    40,000

    50,000

    9.6 11.711.5

    0.5 2.8

    5.2

    8.8

    19.4

    10.0

    13.1

    2009 2010 2011 2012 2013 2014 2015 2016 2017 20180

    5.0

    10.0

    15.0

    20.0

    Net Sales

    (Million yen)

    Operating Profit / Operating Margin

    (Million yen) (%)

    Profit Attributable to Owners of Parent and Net Loss / Profit Attributable to Owners of Parent and Net Loss Ratio

    (Million yen) (%)

    R&D Costs / R&D Cost Ratio

    (Million yen) (%)

    ROE (Net profit base)

    (%)

    ROA (Operating profit base)

    (%)

    Operating profit Operating margin

    R&D costs R&D cost ratio Profit attributable to owners of parent and net loss Profit attributable to owners of parent and net loss ratio

    (FY)(FY)

    (FY)

    (FY)

    (FY)

    (FY)

    3 TOTO GROUP Integrated Report 2019 Financial and Non-Financial Data

  • 338,709

    58.9

    333,253

    59.1

    48.6

    175,337

    46.2

    179,991

    47.7

    206,738

    50.6

    247,806

    52.0

    270,158

    52.3 51.5

    297,020

    53.6

    276,025

    183,671

    0

    25.0

    50.0

    75.0

    100.0

    0

    100,000

    200,000

    300,000

    400,000

    2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

    27,347

    24,813

    –12,335

    9,115

    18,799

    5,359 –2,768

    21,527

    43,982

    4,673

    28,742

    –13,000

    0

    13,000

    26,000

    39,000

    52,000

    65,000

    2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

    191.3

    217.5 194.9

    27.1

    49.5

    130.2

    73.8

    212.0

    2009 2010 2011 2012 2013 2014 2015 2016 2017 20180

    50.0

    100.0

    150.0

    200.0

    250.0

    2.5 14.9

    1.02 1.05

    1.10

    1.14

    1.20 1.21

    1.25

    1.09 1.08

    1.04

    0

    1.00