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We aim to provide the kinds of value that only the Toyota Tsusho Group can provide, and become an indispensable presence for all stakeholders and wider society. To this end, we have set six key sustainability issues with the aim of achieving sustainable growth through tackling and solving societal issues. These six key sustainability issues include two top-priority issues relating to the building of foundations for corporate growth, and four top-priority issues relating to achieving corporate growth while simultaneously helping to solve societal issues. By aligning the Group's priority areas (strategies) with the latter four top-priority issues, we are aiming to contribute to the solution of societal issues while also achieving sustainable growth.
The Toyota Tsusho Group's Key Sustainability Issues (Materiality)
Four Priority Areas (Strategies)
1Next Mobility Strategy
In the Next Mobility business domain we are working with a sense of urgency to respond to new changes in the automotive environment in the fields of next-generation vehicles, next-generation services, and energy management, across the various stages of the lifecycles of automobiles. We are aiming, as a trailblazer of the Toyota Group, and as a trading company with strengths in the mobility field, to contribute to the creation of a safe and comfortable mobility society.
2Renewable Energy Strategy
We are aiming to contribute to the transition to a carbon free society as the leading corporate group in Japan's renewable energy business. In addition to a 60% stake in Eurus Energy Holdings Corporation, Japan's largest wind power generation company, we are working to expand our portfolio of energy sources with geothermal, small hydro, biomass, and other energy projects; expand service areas in Africa, the Middle East, and elsewhere; and expand the range of energy services we provide, including electricity storage, transmission, and retail.
3African Growth Strategy
In addition to our network covering all 54 countries in Africa in the automotive business, we are also involved in a wide variety of other businesses such as pharmaceuticals, household goods retailing, and electric power and infrastructure development, with a total workforce of approximately 22,000. Based on the philosophy "With Africa, For Africa", we are aiming to contribute to the development of local communities and further strengthen and expand our operational base.
4Circular Economy Strategy
Our recycling business involves collecting used products for reuse, putting the products and their constituent materials back into circulation. The Toyota Tsusho Group is working to create optimal resource recycling systems and reduce waste output as a general waste recycling company through the reuse and recycling of finite natural resources, including in our non-automotive recycling businesses.
The consolidated financial results for FY2022
Gross profit increased 209.6 billion yen year on year to 968.8 billion yen, largely due to growth in automotive sales volume, increases in metal market prices, and rising electricity prices in Europe. Operating profit increased 94.6 billion yen year on year to 388.7 billion yen due to an increase in gross profit, which offset higher selling, general and administrative expenses. Profit attributable to owners of the parent increased 61.9 billion yen year on year to 284.1 billion yen, largely due to an increase in operating profit as well as increases in the share of profit (loss) of investments accounted for using the equity method, despite the impact of a year-earlier one-time gain.
We are forecasting full-year profit attributable to owener of the parent of 320.0 billion yen for the fiscal year ending March 31,2024.
The Company's dividend policy is in the period from FY2023 to FY2025 we will achieve progressive dividend and consolidated dividend payout ratio of 30% or more.
In addition, agile payment will be considered in situation of cash flow.
For the fiscal year ended March 31,2023, the Company paid a year-end dividends of 106 yen per share. Including the previously paid interim dividend of 96 yen per share, dividends for the fiscal year ended March 31,2023, will be total 202 yen per share.
In accordance with the new shareholder return policy, for the fiscal year ending March 31, 2024, the Company plans to pay annual dividends of 250 yen per share, assuming that it earns 320.0 billion yen of consolidated profit attributable to owners of the parent for the year, in line with its current forecast.