Toyoda Gosei (7282) Q4 2025 earnings summary

Executive summary

• FY2024 revenue declined 1.1% year-over-year to ¥1,059.7–1,059.8bn, with operating profit down 11.6% to ¥59.8bn and profit attributable to owners down 29.4% to ¥36.3bn, mainly due to customer production cuts and a strong yen.

• Growth in India and the Americas offset declines in Japan and China, with India sales and OP up over 20% year-over-year.

• The company advanced its 2030 Business Plan, focusing on BEVs, hydrogen technologies, and global expansion.

• Sustainability initiatives included increased recycling capacity and new hydrogen tank products.

• FY2025 forecasts further revenue and profit declines due to yen appreciation and U.S. tariff risks.

Financial highlights

• Revenue: ¥1,059.7–1,059.8bn (down 1.1%); operating profit: ¥59.8bn (down 11.6%); net profit: ¥36.3bn (down 29.4%).

• ROE declined to 6.8% from 10.6%; operating profit margin at 5.6% (down from 6.3%).

• Cash and cash equivalents decreased by ¥27.3bn to ¥118.7bn.

• Free cash flow positive, but net cash flow decreased by ¥27.2bn, mainly due to debt repayment and dividend payments.

• Dividend per share increased to ¥105 for FY2024, payout ratio 36.7%, with a forecast of ¥110 for FY2025.

Outlook and guidance

• FY2025 revenue forecast at ¥1,000bn (down 5.6%), operating profit at ¥55bn (down 8.1%), and net profit at ¥38bn (up 4.6%).

• Assumed exchange rate for next year is ¥140/USD; profit decline expected due to forex and US tariff risk.

• Capital investment and R&D spending to remain steady, focusing on BEV capacity and India growth.

• Dividend forecast maintained at ¥110 per share, continuing annual increases.