FY2017 2nd Quarter
Financial Results

October 31, 2016

0/32

I. Financial Summary
1. Points of financial results
2. Financial results for FY2017 2Q
3. Financial forecast for FY2017

1/32

Points of Financial Results for FY2017 2Q
1. Net sales and profits decreased against previous
year due to negative impact of yen appreciation.
2. Interim dividends is kept at same amount withprevious year although net sales and profits
decreased.
3. For the full year forecast, exchange rates arerevised, while net sales and operating profit are
unchanged in consideration of increase ofunit sales of each business segment.
2/32

Performance <FY2017 2Q>(Billion yen)

Net sales
Operating profit
Ordinary profit
Profit attributable toowners of the parent
Earnings per share
Dividends per share\/US$\/EuroFY2016 2Q(Six months)

FY2017 2Q(Six months)

1,105.9
70.0
99.6

1,078.4
58.2
84.3(27.5) (2.5%)(11.8) (16.9%)(15.3) (15.4%)

67.9

60.9

(7.0) (10.3%)¥216.38
¥60
¥122
¥135

Change¥194.29 (\22.09)
¥60
¥105
¥118

(\17)
(\17)

-

- Both net sales and profits decreased due to negative impact of exchange rate fluctuations.
- Interim dividends is kept at same amount with previous year.

3/32

Segment Information <FY2017 2Q>
Net sales[Operating Income]

VehicleEngineCar air-conditioning
compressor
Electronics parts, foundry
and others

Automobile
Materials handlingequipment
Textile machinery
Others
Total

VehicleEngineCar air‐conditioning
compressor
Materials handlingequipment(Billion yen )FY2016 2Q

FY2 017 2Q(Six months)(Six month s)

219.7
83.6
172

265.1
83.8
163.8

29.8
505.2
[15.3]
512.5[47.9]
31.1
[1.7]
56.9
[4.9]
1,105.9[70.0]

29.6
542.5[13.5]
478[39.3]
28.5
[1.7]
29.2
[3.4]
1,078.4[58.2]

ChangeUnit Sales

45.4
0.2

20.7%
0.2%

(8.2)

(4.7%)(0.2)(0.8%) Vehicle

37.3[(1.8)]

Diesel(34.5)[(8.6)](2.6)[0.0](27.7)[(1.5)](27.5)[(11.8)]

7.4%

RAV4
Vitz (Yaris)

Gasoline

Engine(6.7%)(8.3%)

Car air-conditioning
compressor
Materials handlingequipment

Air-jet loom

(Thousand units)
FY2016 2Q(Six months)

FY 2 0 1 7 2 Q(Six m o n t h s)

100
47
147
137
98
235

100
44
144
149
93
242

14,88016,270

1,390

118

120

2

2.4

2.6

0.2

Change

(0)
(3)

(3)
12
(5)

7

(48.6%)(2.5%): Although unit sales decreased, increase of RAV4 Hybrid led increase of net sales.
: While KD diesel engine decreased, increase of production of GD diesel engine both in Japan and India
contributed to increase of net sales.
: Negative impact of exchange rate fluctuations resulted decrease of net sales although unit sales increasedin each region.
: Negative impact of exchange rate fluctuations affected both net sales and operating profit to decrease
although unit sales increased in Europe and other regions.

4/32

Changes in Ordinary Profit
Year-on-year comparison (FY2016 2Q and FY2017 2Q)
Ordinary profit ¥15.3 billion decrease (¥99.6 to ¥84.3 billion)
Operating profit ¥11.8 billion decrease (¥70.0 to ¥58.2 billion)

3.5

8.1

(14.0) *Decrease indepreciation

99.6
Cost
reduction

11.6

Negative
impact ofexchangerate
fluctuations(Billion yen)

(1.9)

(1.6)

Increase inlabor cost

Negative
impact ofchanges insales
volume andothers(5.9)(3.5)
Increase in
expensesand others(23.4)FY2016-

Cost reduction of the materials handling equipment segment andcar air-conditioning compressor business contributed to consolidated
profit increase.

-

Exchange rate fluctuations as well as labor cost increase negatively
affected profits.

84.3

Changes in
the netamount ofnon‐operating
profit andnon‐operating
expenses(3.5)
FY2017* Includes ¥3.7
billion exchange
conversion loss on
operating profit
outside Japan.
5/32

Changes in Ordinary Profit
Year-on-year comparison (FY2016 2Q and FY2017 2Q)
Progress of profit improvement
Ordinary profit ¥15.3 billion decrease (¥99.6 to ¥84.3 billion)
Operating profit ¥11.8 billion decrease (¥70.0 to ¥58.2 billion)

99.6

*1

(14.0)(Billion yen)

8.1

(2.0)
Negative
Decrease of
impact of profit arisingexchange from gain on
rate
sales ofsharesoffluctuations

3.4

0.5

(1.9)

Decrease in
Positive depreciation Increase inlabor cost
impact of
Increase inchanges in
Costexpenses
reduction sales volume
and others
and others

subsidiaries*2(16.0)(5.9)

Profit improvement 4.2

FY2016-Virtually improved profit were it without negative impact of
exchange fluctuations and decrease of profit arising fromgain on sales of shares of subsidiaries.

(3.5)

84.3

Changes in the
net amount of
non‐operating
profit and non‐operatingexpenses(3.5)
FY2017*1: Includes ¥3.7 billion exchange

conversion loss on operating
profit outside Japan.
*2: Asahi Security Co., Ltd. andWanbishi Archives Co., Ltd.

6/32

Performance <FY2017 2Q>(Billion yen)
FY2016 2Q(Six months)

FY 2 0 1 7 2 Q(Six m o n t h s)

ChangeInvestments intangible assets

38.6

31.3

(7.3)

(19.0%)

Depreciation

37.8

34.3

(3.5)

(9.1%)- Investments in tangible assets decreased in engine and car
air-conditioning compressor businesses as well as materials handlingequipment segment.
- Depreciation for FY2017 decreased in compressor business andothers.

7/32

Performance <FY2017 2Q>(Billion yen)

FY2016 2Q(Six months)

FY2017 2Q(Six months)

ChangeTotal assets

4,199.1

3,968.4(230.7) (5.5%)

Total net assets

2,113.9

2,038.4(75.5) (3.6%)

Equity ratio

48.5%

49.4%

-

-

Consolidated
subsidiaries

214

209

（5）
-

-

- Total assets and total net assets decreased as market value ofinvestment securities decreased.

8/32

Segment Information <FY2017 Forecast>(Billion yen)

FY2016FY20172,243.2

2,200.0

Operating profit

134.7

Ordinary profit

Change(1.9%)

2,200.0

120.0(14.7) (10.9%)

120.0

185.3

173.0

(12.3)(6.7%)

177.0

Profit attributable toowners of the parent

183.0

119.0

(64.0) (35.0%)

120.0

Earnings per share¥582.58

Dividends per share

¥120

¥120

\/US$

¥120

\/Euro¥133

Net sales(43.2)

Previous plan

¥380.68 (\201.90)-¥381.89

-

-

¥120

¥103

(\17)

-

¥105

¥114

(\19)

-

¥120

9/32

Segment Information <FY2017 Forecast>
Net sales[Operating Income](Billion yen)

Vehicle

480.0

566.0

86.0

17.9%

Previous
plan
535.0

Engine

158.2

167.0

8.8

5.6%

160.0

Car air-conditioning
compressor
Electronics parts, foundry
and others

342.6

327.0

(15.6)(4.6%)

330.0

64.8

61.0

(3.8)

(6.0%)

70.0

1,045.7

1,121.0

75.3

7.2%

1,095.0

FY2016

Automobile
Materials handlingequipment
Textile machinery
OthersTotal

FY2017

Change[33.3]
1,031.4

957.0(74.4)(7.2%)

990.0

64.0

(1.6)

(2.6%)

56.0

[4.1]
100.2

58.0

(42.2)(42.2%)

59.0

[9.3]
2,243.2

2,200.0(43.2)[134.7][120.0][(14.7)](1.9%)(Thousand units)

FY2016FY2017 Change

RAV4

201

206

5

Vitz (Yaris)

92

104

12

Vehicle

293

310

17

Diesel

242

297

55

Gasoline

192

223

31

434

520

86

30,37032,7002,330

Materials handlingequipment

239

250

11

Air-jet loom

6.2

6.3

0.1

Engine[87.1]
65.6

Unit sales

Car air-conditioning
compressor

2,200.0[120.0]10/32Changes in Ordinary Profit
Year-on-year comparison (FY2016 full year and FY2017 full year forecast)Ordinary profit ¥12.3 billion decrease (¥185.3 to ¥173.0 billion)
Operating profit ¥14.7 billion decrease (¥134.7 to ¥120.0 billion)

13.0(Billion yen)

(28.5) *

14.0
185.3
Cost
reduction

Positive
impact ofchanges insales
volume andothers27.0
FY2016(4.0)
Negative
impact ofexchangerate
fluctuations

Increase inlabor cost

(0.7)
Increase indepreciation(41.7)

(8.5)

2.4

173.0

Increase in Changes in the net
amount of non‐
expenses operating
profit andand others non‐operating expenses

2.4
FY2017* Includes ¥11.1 billion exchange
conversion loss on operating
profit outside Japan.
11/32

Changes in Ordinary Profit
Year-on-year comparison (FY2016 full year and FY2017 full year forecast)
Progress of profit improvement
Ordinary profit ¥12.3 billion decrease (¥185.3 to ¥173.0 billion)
Operating profit ¥14.7 billion decrease (¥134.7 to ¥120.0 billion)

185.3(28.5)

14.0*1(Billion yen)

(5.2)
(4.0)

20.5
Cost
reduction(3.0)

Increase indepreciation Increase inlabor cost

(8.5)
Increase in
expensesand others

Negative
Positive
Decrease of
impact ofprofitarising
impact ofexchangefrom gain onchangesinratesales of shares sales volume
fluctuations of subsidiaries*2and others(31.5)FY2016

Profit improvement 16.8

2.4

173.0

Changes in the
net amount of
non‐operating
profit and non‐operatingexpenses

2.4
FY2017*1: Includes ¥11.1 billion exchange conversion
loss on operating profit outside Japan.
*2: Asahi Security Co., Ltd. andWanbishi Archives Co., Ltd.

12/32

Performance <FY2017 forecast>(Billion yen)

FY2016FY2017

ChangeInvestments intangible assets

75.4

90.0

14.6

19.3%

Depreciation

77.3

78.0

0.7

0.8%

13/32

II. Our Business Initiatives
toward Medium Term GrowthMaterials Handling Equipment
Car air‐conditioning Compressor
1. Our lift truck sales and forecast
2. Our initiatives toward mid-term growth
3. Develop products outperforming competitors
4. Strengthen and enhance logistics solution business
5. Expand value-chain

14/32

Materials Handling Equipment
Our lift truck sales and forecast
Aim to increase unit sales exceeding previous year by leveraging our strong product appeal aswell as sales and after-sales service network in the market on par with previous year as theglobal economy is relatively weak.
(Thousand units)

Global
239

2H

121

250

130

Japan

North America

Promote sales
expansion activities of40
40
environmentally highperformance products
19
19
as well as logistics
solution proposals
21
21
where market outlook
FY2016 FY2017 is weak.
(Forecast)

Europe
90
75
1H

118

120
39

FY2016FY201736(Forecast)

FY2016

50

40

86

83

44

40

42

43

FY2016

Where the market
growth continues,
promote aggressive
sales activities
including further
enhancing productlines andstrengthening
response to large
fleet customers.

FY2017 (Forecast)Respond to various
customers needs byutilizing strengths ofboth Toyota andRaymond brands amid
the market slowdown
is expected.

FY2017 (Forecast)

China, Others
38

37

19

21

19

16

FY2016FY2017(Forecast)

Promote sales
activities appealing
our quality and aftersales service
capabilities whilefurther strengthen
our network wherestable market is
expected.
15/32

Materials Handling Equipment

Outlook of lift truck market for 2020

Our initiatives toward mid-term growth(Thousand units)
1,200

Lift truck market and our sales

MarketOthers

Our sales

800

200Europe600
400

North America

100

Our sales (FY)

Lift truck market* (CY)

1,000

(Thousand units)
300

200
Japan

16

0
20 (CY/FY)

17(Forecast)(Billion yen)
90
80
70
60
50
40
30
20
10
0
-10
21 (FY)(Outlook)

008*Estimate by TICO

09

10

11

12

13

14

15

(Outlook)

Financial results of our MHE business(Billion yen)
1,200

Net sales

Operating profit

Operating profit

1,000
800

Net sales

600
400
200
0
09

10

11

12

13

14

15

16

Moderate growth is expectedthanks to emerging countries’
economic growth

Our initiatives for the year 2020
Develop products outperforming
competitors-Further better environmental performancedeveloped centered on our 3E technologies-Strengthen product appeal by accelerating
development and adoption of in-housecomponents

Strengthen and enhance logistics
solution business-Propose broad range of logistics solution
combining hardware and software-Utilize information and communication
technology-Capable to respond to variety of customers’
needs

Expand value-chain-Strengthen response to large fleet customers-Enhance after sales services utilizing telematics-Expand sales finance business
16/32

Materials Handling Equipment
Develop products outperforming competitors

Appealed our total strength at the Logis-Tech Tokyo 2016
Exhibited products with excellent environmental
performance developed centered on our 3E technologies(13-16 September, 2016)

Appealed our full line of products from engine-driven andelectric-drive models to new generation models-Fitted with in-housedeveloped clean diesel
engine and turbocharger

Engine lift truck-Achieved lower fuelconsumption andemission

Engine-Continuous operation realized-Reduction of battery
management works-Fitted with T_Site telematics
systemLithium‐ionElectric lift truck withlithium-ion battery

Electric Fuel
cell

Electric lift truck-Fitted with in-housedeveloped components
including high-efficient motor-Reduction of energy cost by
longer operating time

-Plan to launch sales on
November 2016
-Excellent environmental
performance-Highly convenient usage byfinishing fuelling in three
Fuel-cell lift truck
minutes
17/32

Materials Handling Equipment
Develop products outperforming competitors
Strengthen product appeal by accelerating development and adoption of
in‐house components
Max. 30% reductionof fuel consumption
Low fuel Fitted
consumption andemission

Strengthen product appeal with inhouse developed competitive
components
Our in-house developed components

20% longer
operating time
FittedClass-leading
long operating time
FittedMotor

Motor driverEngineTurbocharger

Engine lift truck

Control valve

Increase models of each of our brand fittedwith in-house developed components

Electric lift truck

Aim to expand sales of our high quality and reliable
components cultivated through our development of lift
trucks to customers in other industries
18/32

Materials Handling Equipment
Strengthen and enhance logistics solution businessContribute to customer’s efficient logistics by combining hardware such as lift trucks and software

SoftwareTotal logistics solution

Utilize latest ICT leveraging our＋ kaizen(improvement) know-how

Contribute to customer’s
efficient logistics

HardwareMaterials handlingequipment, Storage system

Layout sample of logistics site
Automated storage andretrieval system, Racks

Warehouse
lift truck Convey,
Electric lift truck

Store

Load and unload

Sorting system,
Conveyors
Towing cars

Engine lift truck

Receive anddeliver of goods
Fleet management
Warehouse management
Telematics

Palletizing system

Sort
PickingsystemAutomatic guided vehicle
Automatic lift truck

19/32

Materials Handling Equipment
Strengthen and enhance logistics solution business*Case example of a logistics center of Yamato Logistics Co., Ltd.
Total support for customer’s logistics from development and operation of
the logistics center, as well as continuous improvement proposals.
Haneda Chronogate
Yamato Logistics Co., Ltd.

‐ Appropriate response to customer’s specific needs such as a large amount of goods
dispatch in a short time, and flexible operation at a timing of new products launch.
‐ Leveraging the IoT combining smartphone and transmitter to realize progress checkon a real‐time basis.
‐ Follow‐ups after introduction of the system, provide improvement proposals continuously.
20/32

Materials Handling Equipment
Strengthen and enhance logistics solution business
Improve logistics leveraging telematics
Provide suitable lift truck management service to each customer by
usage of information and communication technology
Lift truck operation
management• Improve lift truck utilization and productivity byvisualizing operating status of each truck

Shock detection onlift truck• Contribute to safe drive and reduction of damage
cost by shock detection and record

Driver access control• Support safe and energy-efficient drive by
visualizing individual driver’s drive record with PIN

Lift truck condition
monitor function• Provide prompt maintenance services by
understanding such information as machine
troubles on mobile terminal

Introduced at European and US major supermarket chains andlogistics companies, as well as Japanese large food wholesaler

Expand logistics solution business that contribute tocustomers’ efficient logistics.
21/32

Materials Handling Equipment
Strengthen and enhance logistics solution businessRespond to customers’ diverse needs --- usage at ossuaries

70% market share in Japan*
Utilize our know-how on automatedstorage and retrieval system*Estimate by TICO

22/32

Materials Handling Equipment
Expand value-chain
Promote sales and services activities responding to variety of customers’ needs
Strengthen response to large fleet customers
・Further strengthen relations with large fleet customers by doubling companies covered by
key account managers those who are responsible to global companies with locations in multiple
countries and areas
・To follow increasing numbers of logistics sites and warehouses, further promote logistics solution
proposal activities

Promote activities to increase after sales services
capability
・Provide quick and suitable maintenance utilizing telematics
Error messages detected by lift truck’s self-check function areaccessible anywhere by telematics

After sales services utilizing
telematics

Visit customer’s site with necessary preparation

Our strengths••

Manage data of multiple lift trucks at
multiple sites at one place
Analyze collected data and propose new
solution
etc.

Service skills contest at
TMHA, Australia

23/32

<TICF, USA>
Relocated in September, 2016,
held opening ceremony in October, 2016

Materials Handling Equipment
Expand value-chain
Aim to expand sales finance business globally,
starting from major countries
2015

2016

2017

2018

2019

2020

★ TICF in USA started operation in October 2015
North
北⽶
America▼ Relocated to Texas in September 2016, full operation

TMH Capital in Mexico started operation
TMHCF French office started operation

欧州
Europe★TMHCF German office started operation in April 2016
☆TMHCF Italian office is planned to start operation

その他
OthersFurther expand coverage to other countries
including emerging countries

Strengthen sales financebusiness on global basis
expanding our coverage inEurope and emerging countries

Expand value-chain including after
sales services and used trucks byresponding to variety of customers’
needs
24/32

II. Our Business Initiatives
toward Medium Term GrowthMaterials Handling Equipment
Car air‐conditioning
air conditioning Compressor
1. Our compressor sales and forecast
2. Outlook of mid-term business growth
3. Our initiatives of Compressor business toward
increasing customer needs for better fuel efficiency
4. Increase of evaluation capability by in-house
experimental installation
5. Global production and supply structure
25/32

Car air‐conditioning Compressor
コンプレッサー
Our compressor sales and forecast
Plan to increase unit sales backed by past order growth although both developed and emerging
countries markets are expected to be on par with previous year due to weaker automobile sales.
(Thousand units)

GlobalJapan

32,7005,280

30,3702,690

2H15,49016,430

5,700

2,900

2,590

2,800

FY2016FY2017(Forecast)

North America[Sales expansion to]

NissanToyotaEurope1H 14,880

16,270

8,910

4,570

FY2016

1,060[Sales expansion to]
4,940

5,470

GM
Ford

4,900

5,130

FY2016FY2017 (Forecast)

China, Others

9,400[Sales expansion to]
4,490

4,340

4,910

FY2016FY2017(Forecast)

FY2017(Forecast)

9,840

6,340

AUDI/VW
Peugeot
Benz

3,290

7,000

3,570

3,050

3,430

FY2016FY2017(Forecast)[Sales expansion to]

AUDI/VW
Honda
Ford

26/32

Car air‐conditioning Compressor

40 million unit sales plan in 2020

Outlook of mid-term business growth

Past steady sales expansion
activities have led to forecast toreach the plan.
Sales expansion in China and
ASEAN will lead to realize the plan.

(％)

Our market share*

50

45

Initiatives in each region
40

North America and Europe

35(Thousand units)* Estimate by TICO

Aim for 40 million
units sales

Our unit sales

40,000- Further enhance fuel efficiency performanceof our compressor and differentiate fromcompetitors to respond to increasing customers
needs for fuel efficiency
China- Expand sales of variable displacement typewhich the demand is increasing in China.

Our sales
20,000

0

2013

2014

2015

2016

2017

2021 (FY)- Supply variable displacement type for the
local car manufacturer.
ASEAN- Promote sales expansion activities appealing
our quality of products including small and lightweight fixed displacement type which thedemand is high(Plan)

27/32

Car air‐conditioning Compressor
Our initiatives of Compressor business toward increasing customers needs for better fuel efficiency
More stringent environmental
regulations globally‐ Tougher fuel consumption regulations
in developed countries‐ Emerging countries also introduce
regulations

Our initiatives toward the change ofcustomers needs
Market trend

Our initiatives

Mid‐
term

Increase of demandfor variabledisplacement typefor internal
combustion vehicle‐ Development of newmodel s and models
with new functions‐ Response to newrefrigerant

Long
term

Increase of demandfor electric type for
HV’s, PHV’s, EV’sand FCV’s‐ Development of models
with new functions‐ Improvement of productappeal of in‐housedeveloped motors andinverters

China also introduces tougher regulations
1. More stringent fuel consumption regulations
Favorable treatment has began in January, 2016
- Innovative technology for better fuel consumption
performance is favored.
- Sales of PHV’s, EV’s and FCV’s are favored.

2. Mandatory production of certain units of
PHV’s, EV’s and FCV’s[Implementation schedule]
2016

1
.
2
.

2017

2018

2020 〜

Introduction of the Fourth fuelconsumption regulation
Inception
Plan details
to bedisclosed

Gradually tougher regulations by 2020

Trial

Official
introduction

Expansion
throughout
China(Million units) Forecast of global automobile production market

120
100
80
60
40
20
0

Internal combustion
vehiclesHV’s, PHV’s
EV’s, FCV’s

10 12 14 16 18 20 22 24 26 28 (CY)
[Source] IHS Data Base, October, 2016

28/32

Car air‐conditioning Compressor
Increase of evaluation capability by in-house experimental installations
Compressor experiment in an environment close to the actual vehicle-fitted condition at our bases
outside Japan<Our bases outside Japan><Customers><Mother plant in Japan>
Major carmanufacturers
in the world[Needs]-Vehicle’s fuel consumption
while car air-conditioner
operates- Lower noise when in motion- Compatibility with engines- Durability when fitted withvehicleetc.

Participate
in experimentIntroduce in-house experimental
installation to our bases outside
Japan, and conduct evaluation
activities together with car
manufacturers outside Japan

Product
development

Transfer
Fuel efficiency, Performance,
installations
Easier vehicle mounting￥

Respond to
customers
needs<Our strengths>

In‐house
Experimental
Installations

Feedback

Evaluation
capability
Quality, Reliability

Aim to enhanceboth capabilities

Prevent leakage of know‐how
Speed‐up of evaluation process
Product quality increase by enhanced
evaluation capability
29/32

Car air‐conditioning Compressor
Global production and supply structure
Strengthened production capacity and capability of bases outside Japan
Germany

Increase of local
procurement ratio

5,000

China

5,000

0
2012 2017
5,000

Indonesia

02012 2017

0

Increase of
production
capacity ofvariable
displacement
type2012 2017
Increase of production
capacity of fixed
displacement type10,00015,000

North America

Japan
5,000

10,00002012 2017

5,000
0
2012 2017

Increase of production
capacity of electric type, as
well as support for production
bases outside Japan(Thousand units)

Shift from fixed
displacement typeto variabledisplacement type
(FY)

Electric
Variable
Fixed** Electric type, Variable displacement type, Fixed displacement type

Further improve production efficiency at the production bases outside Japan

Promote kaizen (improvement)
activities through such measures
as to share the best practicewithin our production bases inNorth America and China‐ Global production managers meeting‐ Regional kaizen meeting

Kaizen meeting at a base in North America

Study session instructed bya staff of the base

Reporting session by key
personnel at each base

30/32

Car air‐conditioning Compressor
Global production and supply structure
Further strengthen roles and capabilities of production bases in Japan
Strengthen capability of mother plant‐ Develop new production method and innovative production lines, and introduce
to our production bases outside Japan‐ Strengthen production back‐up role against production bases outside Japan torespond to production fluctuations and changes of customers needs forfuel efficiency and electrification‐ Support for human resources development
Production structure in Japan to support stable and high quality global production
・Promote in‐house development of key

components within TICO Group
companies and major suppliers‐ Pursue total quality from raw material and components‐ Conduct cost reduction activities together with TICO

‐ Thoroughly pursue quality improvement‐ Keep our technologies in a “black box”

Two bases

Furtherstrengthen
cooperation
among global
production
bases

TICO parts
plantsTICO motherplant

TICO Group
production
companies
Seven bases
100% owned by TICO

Major
suppliers
11 companies
Suppliers organization

31/32

Engine

Vehicles fitted with GD diesel engine

Business status and our initiatives
Demand for powerful driving diesel vehicles is expected
to keep at certain level especially in emerging countries
for commercial vehicles and SUV’s.

Land Cruiser Prado

Innova Crysta

Hilux

Production of GD diesel engines commenced at Toyota
Industries Engine India Private Limited, our groupcompany, in March, 2016.
Aim to further improve
local procurement ratio
and production efficiency.
GD Diesel engine

Toyota Industries Engine India Private Limited

Plan to expand sales of turbochargers by enhancing
competitiveness.
Turbocharger

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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.