FY2018 2nd Quarter
Financial Results

November 1, 2017

0/35

I. Financial Summary
1. Points of financial results
2. Financial results for FY2018 2Q
3. Financial forecast for FY2018

1/35

Points of Financial Results for FY2018 2Q
1. Net sales and profits increased against previous
year thanks to increase of unit sales, consolidationof Bastian and Vanderlande, and positive impact ofyen depreciation.
2. Interim dividends is increased to ¥70 per share,¥10 increase compared with previous year.
3. Full year forecast is raised in consideration ofincrease of unit sales of materials handlingequipment and engines, as well as positive impact
of exchange rate fluctuations.
2/35

Performance <FY2018 2Q>(Billion yen)

FY2017FY2018(IFRS)(IFRS)

ChangeNet sales

804.4

937.9

133.5

16.6%

Operating profit

60.9

77.0

16.1

26.3%

Profit before income taxes

87.6

110.3

22.7

25.9%

Profit attributable to ownersof the parent

64.6

80.8

16.2

25.0%

Earnings per share¥206.10¥260.49¥54.39-Dividends per share

¥60

¥70

¥10

-

¥/US$

¥105

¥111

¥6

-

¥/Euro

¥118

¥126

¥8

-

- Both net sales and profits increased thanks to increase of unit sales in present businesses,
consolidation of Bastian and Vanderlande, and positive impact of exchange rate fluctuations.
- Interim dividends is increased by ¥10 compared with previous year.
3/35

Segment Information <FY2018 2Q>
Net sales [Operating profit](Billion yen)

FY2017FY2018(IFRS)(IFRS)

ChangeUnit sales(Thousand units)

VehicleEngine

34.7
45.2

35.3
46.8

0.6
1.6

1.7%
3.7%

Car air-conditioning
compressor

164.9

170.4

5.5

3.4%

Electronics parts,
foundry and others

29.8

34.3

4.5

15.0%

Automobile

274.7[12.3]

287.0[19.4]

12.3
[7.1]

4.5%

Materials handlingequipment

472.2[42.4]

591.7[51.2]

119.5
[8.8]

25.3%

Textile machinery

28.5
[2.6]

30.0
[3.3]

1.5
[0.7]

5.1%

Others

28.8
[3.5]

29.0
[2.8]

0.2
[(0.7)]

1.0%

Total

804.4
[60.9]

937.9[77.0]

133.5[16.1]

16.6%

FY2017FY2018ChangeRAV4Vitz (Yaris)

100
44

101
47

1
3

Vehicle

144

148

4

DieselGasoline

149
93

157
112

8
19

Engine

242

269

27

Car air-conditioning
compressor

16,27016,35080

Materials handlingequipment

120

123

3

Air-jet loom

2.6

2.1

(0.5)

Vehicle:Increase of unit sales of both RAV4 and Vitz (Yaris) contributed to increase of net sales.
Engine:Net sales increased by unit sales increase of GD diesel engines and AR gasoline engines.
Car air-conditioning compressor :Increase of unit sales as well as positive impact of exchange rate fluctuations
contributed to increase of net sales.
Materials handling equipment:Net sales increased mainly by unit sales increases in Europe and Japan, andconsolidation of Bastian and Vanderlande.
4/35

Changes in Profit before Income Taxes and Operating Profit
Year-on-year comparison (FY2017 2Q and FY2018 2Q)
Profit before Income Taxes ¥22.7 billion increase (¥87.6 to ¥110.3 billion)
Operating profit ¥16.1 billion increase (¥60.9 to ¥77.0 billion)

+14.3
+4.2

+6.3*
+6.3
87.6

Cost reduction

Positive impact of
exchange rate
Sales efforts fluctuations+16.8

One-time effectof changes inretirement
benefit plan

+14.3

(4.7)

(Billion yen)

(4.3)
Increase in
raw material
cost

Increase inlabor cost

(15.0)

(6.0)

110.3

+66

Increase in Positive impact
expenses and of financial
earnings andothersexpenses+6.6'FY2017- Unit sales increase of each business, positive impact of exchange rate
fluctuations as well as one-time effect of changes in retirement benefit
plan contributed to profit increases.
- Increases in raw material cost and labor cost led profit decreases.

FY2018* Includes ¥1.5
billion exchange
conversion gain
on operating
profit outside
Japan.

5/35

Performance <FY2018 2Q>(Billion yen)

FY2017FY2018(IFRS)(IFRS)

ChangeInvestments intangible assets

31.3

46.9

15.6

49.7%

Depreciation

36.5

37.5

1.0

2.7%

- Investments in tangible assets in the Automobile segment increased, mainly for the vehicle
and car air-conditioning compressor businesses.

6/35

Performance <FY2018 2Q>(Billion yen)

As of March 31,
2017

As of September
31, 2017

Total assets

4,558.2

5,100.9

542.7

11.9%

Total equity

2,316.4

2,572.8

256.4

11.1%

Ratio of share of equity
attributable to ownersof the parent

49.1%

48.9%

-

-

207

252

45

-

Consolidated
subsidiaries

Change*Total assets and total equity increased due to an increase inmarket value of investment securities.

7/35

Performance <FY2018 Forecast>(Billion yen)

FY2017FY2018(IFRS)(IFRS)

1,675.1

1,950.0

274.9

16.4%

1,850.0

Operating profit

127.3

145.0

17.7

13.9%

135.0

Profit before income
taxes

181.9

204.0

22.1

12.1%

188.0

Profit attributable toowners of the present

131.3

142.0

10.7

8.1%

130.0

Earnings per share¥420.78¥457.34¥36.56-¥418.69

Cash dividends per
share

¥125

¥140

¥15

-

¥130

¥/US$

¥108

¥111

¥3

-

¥105

¥/Euro

¥119

¥126

¥7

-

¥115

Net sales

ChangePrevious
Forecast

8/35

Segment Information <FY2018 Forecast>(Billion yen)

Net sales [Operating profit]
FY2017FY2018(IFRS)(IFRS)

ChangePrevious
Forecast

73.1
90.0

72.0
99.0

(1.1)
9.0

(1.6%)
9.9%

72.0
94.0

334.7

349.0

14.3

4.3%

347.0

64.7

67.0

2.3

3.5%

67.0

Automobile

562.6[24.9]

587.0

24.4

4.3%

580.0

Materials handlingequipment

988.1[89.4]

1,246.0

257.9

26.1%

1.156.0

Textile machinery

66.2
[6.8]

59.0

(7.2)

(11.0%)

56.0

Others

58.0
[6.0]

58.0

0.0

（0.1%）

58.0

Total

1,675.1[127.3]

1,950.0[145.0](274.9)[17.7]

16.4%

1,850.0[135.0]

VehicleEngineCar air-conditioning
compressor
Electronics parts,
foundry and others

9/35

Segment Information <FY2018 Forecast>
Unit sales(Thousand units)

FY2017FY2018ChangePrevious
Forecast

206
101

205
95

(1)
(6)

205
95

307

300

(7)

300

294
207

324
246

30
39

281
249

501

570

69

530

32,55033,500950

33,500Materials handling equipment

253

265

12

255

Air-jet loom

6.9

5.5

(1.4)

5.0

RAV4
Vitz (Yaris)
VehicleDieselGasoline
EngineCar air-conditioning compressor

10/35

Changes in Profit before Income Taxes and Operating Profit
Year-on-year comparison (FY2017 full year and FY2018 full year forecast)Profit before Income Taxes ¥22.1 billion increase (¥181.9 to ¥204.0 billion)
Operating profit ¥17.7 billion increase (¥127.3 to ¥145.0 billion)

(9.0)

+14.3
+6.5 *+12.0+14.0

One-time
effectPositive impact
of changesof exchange rate in retirement
fluctuations
benefit plan

Increase in
raw material
cost

(8.0)
(2.8)
Increase inlabor cost

(9.3)

Increase indepreciation

204.0

4.4

Increase in
expenses and Positive impactof financial
othersSales efforts

earnings andexpenses

181.9
Cost reduction

+32.5

+14.3

(29.1)FY2017- Profit increase expected by cost reduction, sales efforts and others,
as well as one-time effect of changes in retirement benefit plan.
- Increases in raw material cost and labor cost are expected to negatively
affect profits.

+4.4
FY2018* Includes ¥1.3
billion exchange
conversion gain
on operating
profit outside
Japan.

11/35

Performance <FY2018 Forecast>(Billion yen)

FY2017FY2018(IFRS)(IFRS)

ChangeInvestments intangible assets

77.3

120.0

42.7

55.2%

Depreciation

73.2

76.0

2.8

3.8%

12/35

II Our Business Initiatives towardMedium Term GrowthMaterials Handling Equipment
Car air‐conditioning Compressor
1. Lift truck sales situation
2. Our initiatives toward mid‐term business growth‐ Lift truck business‐ Logistics solutions business

13/35

Materials Handling Equipment
1. Lift truck sales situation(ThousandUnits)(ThousandUnits)
300

Global lift truck market*1

1,200

Our unit sales

1,000

Others800200Europe

600
400

100

North
America

200

Japan

0
08 09 10 11*1: Estimate by TICO
*2: Forecast

12

13

14

15

16

17＊2

20 (CY)

Market is stable and continuous
growth is expected
World economy continues stable
overall although the future is uncertain
Logistics volume increases globally
due to new demand including growthof e-commerce market
Chinese-made and other low-priced
products are increasing

0
09

10

11

12

13

14

15

16

17

18 ＊2

21 (FY)

Promote sales expansion leveraging our
product appeals in addition to well‐structured
sales and after sales services network
Development of high-quality broadlines of products that meetcustomers’ various needs
Strengthen value chain including
after sales services and sales finance
Proposal of suitable logistics
solutions
14/35

Materials Handling Equipment
2. Our initiatives toward mid‐term business growth
Aim for further growth of overall Materials Handling Equipment business;
lift truck business adding to logistics solutions business[Logistics solutions business]

Profit growth image‐ Get business opportunities by cooperation of
acquired Vanderlande and Bastian‐ Aim for synergy generation in each areasuch as development and sales(JPY Billion)[Lift truck business]

89.4‐ Sales expansion by differentiation of products
and services‐ Meticulous after sales services

38.2‐ Expansion of sales finance business‐ Increase of in‐house produced key components‐ Thorough cost reduction‐ Increase of local procurement ratio

2012

2017

202X (FY)and others
15/35

Materials Handling Equipment
2. Our initiatives toward mid‐term business growth

Growth leveraging strengths oflift truck business• Sales of full line of materials handling equipment
and logistics systems including overwhelming
world No. 1 lift trucks• Superior global network ofafter sales services andexperienced technicianswith expertise• Sales finance to support
customers for overall
lifecycle of products• Solid customers baseincluding global large
customers• Production of such key
components as motors
and controllers

16/35

Materials Handling Equipment
2. Our initiatives toward mid‐term business growthPursue effect of enhanced value chain

Sales finance

After sales
services

Components‐ Utilizing strengthened in‐house capability at the global
stage, provide supports to sales division as well as
enhance sales finance programs‐ Provide meticulous services though sales and after sales
services network which we have increased numbers of
direct channels‐ More efficient service operation by integrating
telematics systems among each region‐ Further improve service capability at each region
through such efforts as service skills contest‐ Strengthen product appeals by promoting in‐housedevelopment and production of engines, motors andother components‐ Generation of technological synergies with Cascadesuch as integration of their forks with sensors andour telematics‐ Development of hybrid unit for construction machinery,
which is mounted on hybrid excavator of Hitachi
Construction Machinery launched in September ‘17
17/35

Materials Handling Equipment
2. Our initiatives toward mid‐term business growth
Case example of outcomes of enhanced value chain[Sales Finance]‐ Increase of service revenues by maintenance lease contracts‐ Increase of deal entry by cooperating with sales division‐ Better sales capability by providing sales finance programs to
independent dealers‐ Promotion of used trucks business in response to increase of trucks
expiring lease period[Components][Developed our first hybrid unit for construction machinery]
Mounted on the hybrid hydraulic excavator of Hitachi Construction MachineryCo., Ltd., launched in September 2017
3.0 L diesel engine‐ World first to meet Act on Regulation, Etc. of
PCU for electric
generating assist motor
Emissions from Non‐road Special Motor Vehicles 2014as 74kW class without usage of urea
generating‐ Dramatically easier maintenance thanks to getting Electric
assist motor
PCU for electric
generating motor
rid of necessity to maintain and refill urea waterfor rotating‐ Realized lower fuel consumption by combination
Hybrid unit
Newly developed motor integrated
with newly developed high‐power thin motor
hybrid engine, and PCU
18/35

Materials Handling Equipment
2. Our initiatives toward mid‐term business growth

Further growth leveraging
strengths of logistics solutions

Shuttle typeautomated storage• Proposals of the mostsuitable logistics solutions
to customers• Broad lineup of materials handlingsystems including automated storage
and retrieval system, sorters andconveyors

Logistics
management system

Designing
distribution center

Automated baggage
storage for hub airport

Automatedstorage andretrieval system
19/35

Materials Handling Equipment
2. Our initiatives toward mid‐term business growth
Background of increase of needs for logistics solutions
Global increase of
air travelers
Increase of air
flights
Increase of
baggageExpansion ofexisting airports,
Construction oflarge airports

Growth of e‐commerce market
Betterconvenience
Increase of
large
distribution
centers andgrowth in size
Process of wide
variety of goods
in smallquantities

Smaller package
Increase oflogistics volume
Frequent
dispatch anddeliveryRising labor
costs
Labor
shortagecentered on
developed
countries
Low birthrate
and an aging
population
Better living
standard

Needs for value‐added logistics solutions are growing
Faster process ofgoods and baggage

Response to large
distribution centers andairports

Pursuing to automationand efficiency
20/35

Materials Handling Equipment
2. Our initiatives toward mid‐term business growth

Case example of order in Japan, WORLD CO., LTD.
[Needs]Reduction of inventory and cost by integrating
previous six distribution centers into one[Outline of the new distribution center]WORLD Minami‐Funabashi Lower Price Range
Distribution Center in Chiba Prefecture(started its operation in December 2016)[Scope of the order and our actions]
Materials Handling
Equipment

Logistics Systems
Equipment

SoftwareOperation inside the
distribution center

Offer one‐stop solution including products and services to the customer
Respond meticulously to the customer’s issues
Construct a platform that integrates such information as sales and inventory,
and utilize for another business opportunities
21/35

Materials Handling Equipment
2. Our initiatives toward mid‐term business growth
Initiated activities aiming growth globally through alliance between TICO,
Vanderlande and BastianHeld “Global Alliance Meeting” attended bymanagements of each company in June 2016 at
Vanderlande headquarter to discuss about:(1) Accelerate understanding strengths ofeach company(2) Share policies, strategies and issues of logistics
solutions business(3) Consider steps of future actions
and others
Established subcommittee meetings named “workstream” by regional and functional objectives todiscuss further about:• Actions and policies to work together leveraging
strengths of each company• Specific actions and priority

Vanderlande Headquarter

Alliance Meeting attended bymanagements of each company

22/35

Materials Handling Equipment
2. Our initiatives toward mid‐term business growth
Enhance logistics solutions business at each region leveraging respective
strengths of each company[Strengths of each company]•Global network•World No.1 market share inbaggage handling business for
airports•Broad lineup of materials
handling systems•Capability for large‐scale projects•Industries’ global leading
companies are major customers•Global network•Lineup of both lift truck which
attains world No. 1 market share
as well as materials handlingsystems•Vast customers base of various
industries and size
•Improvement (kaizen) knowhow
accumulated throughmanufacturing•Industry leading softwaredevelopment capability•Superior logistics systems
integration•Meticulous response tocustomers’ needs<Europe> Aim to increase market share by alliance of Vanderlande, industries leading company, andToyota Industries, doing business with customers of variety of industries<North America> Plan to capture business in the growing market by alliance of Bastian and Vanderlande<Japan, Asia and others> Accelerate market development and proposal of logistics solutions byleveraging broad product lineup of Toyota Industries and Vanderlande’s knowhow
23/35

Materials Handling Equipment
2. Our initiatives toward mid‐term business growth
Expand and enhance logistics solutions business globally withsynergy effects of lift trucks and logistics solutions

Japan, Asiaand others

EuropeHigher Penetration
Co‐development
Promotion of joint
procurement

Business Development
Mutual product supply
and joint sales
promotion activities
Smooth financing

Enhance customer services utilizing
after sales services network

North America
Business Expansion
Share production
knowhow including TPS

Strengthen proposal of
logistics solutions by
sharing customers
information

Pursue new synergy effects of lift truck business andlogistics solutions business
24/35

II Our Business Initiatives towardMedium Term GrowthMaterials Handling Equipment
Car air‐conditioning
conditioning Compressor
1. Our compressor sales and forecast
2. Outlook of mid‐term business growth
3. Initiatives to increase profitability
4. Demand of compressor by type and our actions
5. Features required to compressors for electric vehicles
6. Approaches to needs for electric compressors
7. Case example of our initiatives for development and production of electric compressors
8. Our new electric compressor has been installed on Toyota Motor’s New Prius PHV
25/35

Car
air‐conditioning Compressor
コンプレッサー
1. Our compressor sales and forecast
While the global automobile sales grows at a sluggish pace, Toyota Industries foresees
sales expansion in Japan, North America, China and Others regions backed by previous
growth of orders, however expects decrease in Europe.
(Thousand Units)

Global
32,550Japan

33,500

10,1505,870
3,070

16,280

North America

6,300
3,160

17,150

2H

2,800

3,140

'17

'18
(Forecast)[Major Increase]

16,270'17

16,350'18(Forecast)

4,520

5,560

Daihatsu
NissanGM
Chrysler
5,130

5,040

'17

'18

(Forecast)

China, Others

9,100[Major Decrease]

1H[Major Decrease]
5,020

Europe9,430

10,600

7,100

7,500

[Major Increase]

3,670

3,880

3,430

3,620

Ford
Honda

'17

'18
(Forecast)

4,550

4,910

4,550

'17

18
(Forecast)

AUDI/VＷ
BMW

26/35

Car air‐conditioning Compressor
2. Outlook of mid‐term business growth
TICO Market Share(％)

Our Strengths
Vast range of product lineups

World No.1 Market Share*

50

Product development capability anticipating
customers’ needs
Stable manufacturing and supply structures45

ensuring quality at mass production stage
Aim for 50％
Market Share

40

35

Business Strategy Leveraging our Strengths
Compressor Market and TICO Sales Unit

(Thousand Units)

Market*80,00060,00040,000

TICO
Sales

20,00002014 2015 2016 2017 2018
*Estimate by TICO

202Ｘ(FY)

Respond to diverse customers’ needs
meticulously by leveraging vast range of
product lineups and superior development
capability
Further increase quality and productivity at
the manufacturing sites outside Japan bysharing strengths of mother plants in Japan
Increase profitability backed by ourcomprehensive strengths including productdevelopment and manufacturing capabilities
as well as superior proposals to car
manufacturers
27/35

Car air‐conditioning Compressor
3. Initiatives to increase profitability<Sales increase>‐ Sales expansion activities leveraging ourstrong product appeals

Image of profit increase‐Appeal of our product value bydifferentiation with development capability
as well as quality<Cost reduction>‐ Cost reduction activities‐ Improvement of productivity at
manufacturing operations outside Japanutilizing knowhow of mother plant in Japan‐ Utilize IoT to minimize quality fluctuations
while aim for thorough preventing
maintenance
2012

2017

202X

(FY)
28/35

Car air‐conditioning Compressor
4. Demand of compressor by type and our actions
25,000
Fixed(Thousand units)

20,00015,00010,0005,000
0DemandOur actions

While shift to variabledisplacement type is
expected, stable demand
continues backed bydemand increase
centered on emerging
countries

Develop highly reliable
and competitively priced
products through various
actions including deep
communications with car
manufacturers

Variable displacement
type continues to bemainstay of ourcompressors due to more
stringent fuel efficiency ofinternal combustion
vehiclesAchieve further
improvement of fuelefficient capability with
our unique technologies,
while continue to aim forhigh quality in
manufacturing
throughout the world

Demand expansion is
expected to accelerate formid‐ to long‐term backed
by increasing EVs
including HVs and PHVs

Assure to acquire businessfor EVs leveraging our
product development
capability utilizing bothmechatronics andelectronics technologies aswell as stable production
capability*
04 06 08 10 12 14 16 18 20 22 24 26 (FY)25,000 displacement
Variable
20,000(Thousand units)

15,00010,0005,000
004 06 08 10 12 14 16 18* 20 22 24 26(FY)

25,000Electric
20,000(Thousand units)

15,00010,0005,000
004 06 08 10 12 14 16 18* 20 22 24 26 (FY)*: FY18 is forecast

29/35

Car air‐conditioning Compressor
5. Features required to compressors for electric vehicles
Compressor operates with attached motor as power from engine is not supplied when
an electric vehicle, including EV, PHV and HV, runs in EV mode or its engine stops
during an idling stop system works.

Challenges

Decrease driving
distance when AC
runs

Required features

Highefficiency ofelectricity
consumption

Drivers tend toannoy noise andvibration ofcompressor during
EV modeVolume and weightincrease as various
electronics parts andcomponents areneededLow noise
Low vibration

Small
Light‐weighted
Easy‐to‐mount

30/35

Car air‐conditioning Compressor
First to have gas injection function formass production vehicle
Able to heat without starting engine
even at temperature below zero
ESBG27 (Prius PHV)

6. Approaches to needs for electric compressors
Needs of car manufacturers become more andmore advanced and complex

We meet such needs leveraging
our accumulated development
capability and stable production
2012
2009

2005

2003
1997

2016

30% better cooling performance
8% reduction of electricity consumption
2015
ESB20 (Toyota 4th generation Prius)
Easier to mount due to change of inverter position
10% better fuel efficiency and lighter weight respectively
ESA27 (Mainly for European vehicles)

Further smaller and lighter weight,
along with better productivity
ES14 (Toyota 3rd generation Prius)

ESB20

Smaller and lighter weight thanks tointegration of inverter and compressor
ES27 (Lexus 450h)

ES14World first mass production model
ES18 (Toyota 2nd generation Prius)
World first product for electric vehicle
ES25 (RAV4 EV)

ESBG27

ES27

ES18
31/35

Car air‐conditioning Compressor
7. Case example of our initiatives for development of electric compressors
Pursue higher efficiency by in‐house development and production of key components
including motors and inverters.
Even higher level of quietness and low vibration those are more important for EVs (Case 1)
Conduct thorough development and experiment through such efforts as in‐house
experimental installation recreating an environment close to the actual vehicle‐fitted
condition (Case 2)
Promptly share information acquired through business with broad numbers of car
manufacturers with development division<Case 1>Further progress ofquietness and low vibration‐ Achieved extremely high levelcompared with compressors forinternal combustion vehicles byutilizing knowhow accumulated
through businesses with various
car manufacturers worldwide.
‐ Utilize accumulated knowhow ofsimulation, experiment andevaluation and realize compatibility
with vehicles promptly.

<Case 2>Thorough experiment under suchenvironment close to the actual
vehicle‐fitted condition‐ Through close communication withcar manufacturers, provide thoroughcountermeasures to such matters
including radio wave interference
that is particular to electric type byconducting experiment using
vehicles.
‐ Achieve high level of performance as vehicle‐
fitted component by conducting severe experimentand evaluation such as heat resistance, vibration
proof and long‐run operation.
32/35

Car air‐conditioning Compressor
7. Case example of our initiatives for production of electric compressors
Enhance proprietary production engineering capability through in‐house madefacility (Case 1)
High quality and flexible production by compact production lines in clean rooms (Case 2)
Further promotion preciseness and automation of production lines<Case 1><Case 2>Distinction utilizing productionengineering capability

Utilize compact production lines inclean rooms‐ Stable mass production of complex structured
electric type leveraging precise machining andassembly technologies accumulated throughproduction of engine‐driven types.

‐ Pursue to develop production lines those arecapable of high quality and flexible for volume
fluctuations at the mother plant in Japan toprepare for the future plan to manufacture
electric type along with its increasing popularity.

‐ Internally develop
facilities of main processes
and important inspection
processes to assure highquality and keep our
technologies in a “blackbox”.

Europe China
North America
コンパクト生産ラインの活用
Japan
South‐East
Asia
33/35

Car air‐conditioning Compressor
8. Our new electric compressor has been installed on Toyota Motor’s New Prius PHVDevelopment anticipating needs of car manufacturers and our proprietary(1) Extended EV driving range
mass production technologies

New Prius PHV

ESBG27

Product features

World first electric compressor withgas injection function

Enables heating by car air‐conditioner without
operating engine in outdoor air temperature atten degrees under zero(2) Better heating performance
Achieved approximately 30% improvement ofheating performance in cold temperature,keeping existing cooling performance(3) Comfort vehicle interior
Considerably better quietness

Realized efficient production preparation by integrating assembly process of new functional parts
as well as by adding inspection process into an existing electric compressor production line.
Reduction of quality issues through simplified production processes.
Established a line enabling efficient work without increasing numbers of operators although thenumber of parts and components were increased.
Leveraging technologies and knowhow accumulated through development and manufacturingof on‐board parts and components, we continue to surely contribute to car manufacturers’
needs.
34/35

Car air‐conditioning Compressor
Toyota Industries participates the Tokyo Motor Show exhibiting compressors

Theme “Welcome to our Global Vision!”
Concept model of electric compressor that Toyota
Industries will proceed development targeting 2025

Aim to reduce volume and weight by half
compared with current model

Major exhibits‐ Our compressor technologies
contributing electrification ofvehicles and environment actions

社長 プレゼンテーション風景
コンセプトモデル 写真を掲載‐ Broad product lineup‐ Concept model for the future
35/35

Cautionary Statement with Respect to
Forward‐Looking Statements
This presentation contains projections of business results as well as statements regarding business plans,
forecasts, strategies, and other forward‐looking statements that are not to be taken as historical fact.
Projections and forward‐looking statements are based on the current expectations and estimates ofToyota Industries and its Group companies. All such projections and forward‐looking statements are basedon management’s assumptions and beliefs derived from the information available to it at the time of
producing this report and are not guarantees of future performance. You should also be aware thatcertain risks and uncertainties could cause the actual results of Toyota Industries and its Group companies
to differ materially from any projections or forward‐looking statements appearing in this report. Theserisks and uncertainties include, but are not limited to, the following: 1) economic trends, 2) various
competitive pressures,3) changes in relevant laws and regulations, and 4) fluctuations in exchange rates.