toyota tsusho corp (TYHOF) Key Developments
Toyota Tsusho to Expand its Vehicle Assembly Plant in Kenya
Mar 17 15
Toyota Tsusho has announced its plans to expand its vehicle assembling plant in Kenya. The company will look into the prospects of the multi-million-shilling investment, billed to significantly transform Kenya's motor vehicle industry. No details of the investment were given.
Toyota Tsusho Corp., Iwatani Corp. and Taiyo Nippon Sanso Corp. Set Up Joint Company for Operating Mobile Hydrogen Filling Stations for Fuel Cell Vehicles
Feb 13 15
Toyota Tsusho Corp., Iwatani Corp. and Taiyo Nippon Sanso Corp. announced that they have set up a joint company for operating mobile hydrogen filling stations for fuel cell vehicles. The first mobile hydrogen station, a truck carrying a hydrogen tank, will begin operations in late March in Tokyo. It is expected to become the first commercial-use mobile hydrogen station in Japan. The new joint venture is capitalized at 30 million yen, which was shared evenly between the three companies. They plan to launch another station in Tokyo and two in the central Japan prefecture of Aichi by the middle of the year. A mobile hydrogen station requires only 30% of the space for a fixed-type station. Construction costs for a mobile station total ¥200 million to ¥300 million, or about a half of the ¥500 million for a fixed station.
Toyota Tsusho Corp. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014; Reaffirms Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2015
Feb 3 15
Toyota Tsusho Corp. reported consolidated earnings results for the third quarter and nine months ended December 31, 2014. For the nine months, net sales were ¥6,584,093 million against ¥5,704,061 million last year. Operating income was ¥123,837 million against ¥119,477 million last year. Ordinary income was ¥120,748 million against ¥123,811 million last year. Income before income taxes and minority interests was ¥131,767 million against ¥123,533 million last year. Income before minority interests was ¥83,969 million against ¥77,104 million last year. Net income was ¥64,333 million against ¥57,580 million last year. Net sales increased mainly in the Machinery, Energy & Project division due to increase in volume of petroleum and other products handled and effect of weaker yen. Operating income increased due to increase in net sales, and in turn gross profit, which has more than offset increases in SG & A.
For the third quarter, net sales were ¥2,229.2 billion against ¥2,270.7 billion for the second quarter of 2014. Operating income was ¥49.4 billion against ¥40.0 billion for the second quarter of 2014. Ordinary income was ¥38.4 billion against ¥37.3 billion for the second quarter of 2014. Net income was ¥24.0 billion against ¥18.9 billion for the second quarter of 2014.
For the fiscal year ending March 31, 2015, the group has not made any changes to its consolidated earnings forecast issued on October 31, 2014. The company reaffirmed guidance for net sales of ¥8,600.0 billion, operating income of ¥162.0 billion, ordinary income of ¥166.0 billion, and net income of ¥76.0 billion.
Toyota Tsusho Corporation Announces Established Electrical Steel Sheet Processing Company
Jan 27 15
Toyota Tsusho Corporation announced that it has established electrical steel sheet processing company Techno Steel Processing Turkey Çelik Bükme ve isleme San.Tic. A.S. (‘TSPT’) in Bursa Province, the Republic of Turkey. TSPT is scheduled to begin commercial manufacturing of electrical steel, which is used in power station transformers, in mid-February 2015. The company's products will be sold in Turkey and neighboring countries, primarily European markets. TSPT will play an important role as a strategic export base. The Republic of Turkey is strategically positioned near key European markets, where demand for electrical steel sheet with high conductive efficiency is expected to rise as a result of new regulations mandating the adoption of highly efficient transformers from July 2015. Demand for electrical steel sheet is also expected to increase in neighboring North Africa and the Middle East, where populations are expected to continue growing. Additionally, there is robust demand in the Republic of Turkey. The nation's electrical industry is expected to continue growing, stimulating new demand for electrical steel sheet. For these reasons, with the cooperation of The Republic of Turkey Prime Ministry Investment Support and Promotion Agency (ISPAT), Toyota Tsusho established TSPT in a free trade zone in Bursa Province, which is near Istanbul and offers convenient access to sea lanes.
Toyota Tsusho Corp. to Report Q3, 2015 Results on Feb 03, 2015
Jan 23 15
Toyota Tsusho Corp. announced that they will report Q3, 2015 results on Feb 03, 2015