ＩＲ

Financial Results for Second Quarter of FY2015(From April 1, 2014 to September 30, 2014)

October 30, 2014Hino Motors, Ltd.

ＩＲ 2/17

1. Sales Turnover

ＩＲ

・

Sales in Japan, North America, etc. increased, but sales in Asia, especially Thailand and Indonesia, declined. Consequently, sales decreased slightly from the previous year.

・

Record-high half-year sales in 4 regions, including Central and South America, North America, etc.

・

Sales in Japan, North America, etc. increased, but sales in Asia, especially Thailand and Indonesia, declined. Consequently, sales decreased slightly from the previous year.

・

Record-high half-year sales in 4 regions, including Central and South America, North America, etc.

3/17

Global Unit Sales (Retail Sales)

2,6642,0192,5982,706

3,4753,062

5,3074,593

6,9846,778

30,81037,679

24,62421,073

13/4-9 14/4-9

79,219 77,951

-1,268 units（ -1.6％ ）

Japan

Asia

Central and South America

North America

AfricaOceania

Middle East

Europe

Japan＋3,551 units

（＋16.9%

16.9%

）

Overseas

58,146↓

53,327

-4,819 units（ -8.3％ ）

※

★Record high for a half-year period(Units)

1,309 1,489

★

★

★

★

★

★

※Record high for a first half

ＩＲ

・

Truck market: The demand grew from the previous year, due to the strong demand for construction.・

Hino’s sales: The growth rate of sales was higher than that of demand.・

Truck market: The demand grew from the previous year, due to the strong demand for construction.・

Hino’s sales: The growth rate of sales was higher than that of demand.

4/17

Truck and Bus Market in Japan

(Units)

24,624

21,073

28.2%

27.0%

13/4-9 14/4-9

77,925

87,169

Total demand ：＋9,244 units （＋11.9％）Hino‘s sales ：＋3,551 units （＋16.9％）

Hino's share

Hino's sales(Retail)

Total demand

ＩＲ

・

Thailand: Sales volume decreased considerably from the previous year, but it is now in the recovery trend.

・

Indonesia: Customers are reluctant to purchase vehicles because of the regime change.

・

Thailand: Sales volume decreased considerably from the previous year, but it is now in the recovery trend.

・

Indonesia: Customers are reluctant to purchase vehicles because of the regime change.

5/17

Sales Volumes in Thailand and Indonesia (Retail Sales)

Thailand Indonesia

16,665

13,650

13/4-9 14/4-9 13/4-9 14/4-9

5,365

10,199

-4,834 units（-47.4％）

-3,015 units（-18.1％）

(Units)

ＩＲ

・

Decline due to the decrease in sales of SUV (Land Cruiser Prado)・

Decline due to the decrease in sales of SUV (Land Cruiser Prado)

6/17

Consolidated Unit Sales of Toyota Brand Vehicles

73,29066,266

19,202

13/4-9 14/4-9

Loading Vehicles

Loading Vehicles20,910

92,49287,176

SUVSUV

(Units)-5,316 units（-5.7％）

ＩＲ 7/17

2. Consolidated Financial Results

ＩＲ 8/17

Consolidated Income Statements

★Record high for a half-year period※Record high for a first half (Billions of yen)

Item Change

Net sales 791.6 835.4 －43.8(－1.0p)

Operating income 49.3 60.5 －11.2(－0.5p)

Ordinary income 50.9 57.5 －6.6(－0.6p)

Net income 32.7 39.6 －6.9Note: Figures in parentheses (<>) indicate income margin.

<Exchange rate>ＵＳ$ 102 98ＴＨＢ 3.18 3.25

ＩＤＲ（100） 0.88 0.97Ａ$ 95 95

FY2015 1st Half('14/4-9)

FY2014 1st Half('13/4-9)

<6.2%> <7.2%>

<4.1%> <4.7%>

<6.4%> <6.9%>

－17.3%

－5.2%

Change (%)

－18.4%

－11.4%

※

★

★

※

(Yen)

ＩＲ

Operating income decreased, as overseas sales volume declined and the situation on the materials market worsened, although domestic sales volume increased.

Operating income decreased, as overseas sales volume declined and the situation on the materials market worsened, although domestic sales volume increased.

9/17

Analysis of Consolidated Operating Income

(6.4)8.9

FY2014 1HResults ('13/4-9)

FY2015 1HResults (‘14/4-9)

(7.9) (5.8)

49.360.5

Effects of sales

Improvement in cost of sales

Environmental change

Change in cost structure, etc

Operating income -11.2 billion yen (60.5 billion yen → 49.3 billion yen)

(Billions of yen)

ＩＲ

Sales and income decreased in Japan and Asia, due to the decline in sales volume in Thailand and Indonesia. In other areas, mainly North America, half-year sales and operating income were record-high.

Sales and income decreased in Japan and Asia, due to the decline in sales volume in Thailand and Indonesia.In other areas, mainly North America, half-year sales and operating income were record-high.

10/17

Consolidated Operating Income by Segments

★Record high for a half-year period※Record high for a first half (Billions of yen)

Net sales Operating income

<5.2%> <7.2%> －3.4% －29.9%

Japan 642.1 33.5 664.9 47.9 －22.8 －14.4<4.9%> <6.2%> －29.4% －43.8%

Asia 172.3 8.5 244.1 15.1 －71.8 －6.6<6.8%> <4.9%> ＋15.8% ＋58.9%

96.0 6.5 82.9 4.1 ＋13.1 ＋2.4

Consolidatedadjustment (118.8) 0.8 (156.5) (6.6) ＋37.7 ＋7.4

<6.2%> <7.2%> －5.2% －18.4%

Total 791.6 49.3 835.4 60.5 －43.8 －11.2

Other Areas

Note: Figures in parentheses (<>) indicate operating income margin.Percentages in the column "Change" indicate year-on- year change.

ChangeFY2015 1st Half('14/4-9)

FY2014 1st Half('13/4-9)

Net sales Operating income Net sales Operating income

※ ★

★

★※

★

★★

ＩＲ

<Exchange rate> US$ 99 102 98 103 99 103

11/17

Trends in the Quarterly Consolidated Sales and Operating Income

32.0 28.5 30.521.223.2 26.1

413.9 421.5 416.8447.4

365.2

426.4

0.0

100.0

200.0

300.0

400.0

500.0

0.0

20.0

40.0

60.0

80.0

100.0

1Q 2Q 3Q 4Q

(Billions of yen)

(Billions of yen)

FY2015

FY2014

Operating Income

Sales

Previous FY

Current FY

(Yen)

ＩＲ

3. Sales Forecasts for FY2015

12/17

ＩＲ

Global Unit Sales13/17

Japan: Considering the steady demand, the value announced on Apr. 25 has been revised upwardly, adding 4.5 thousand units. Overseas: Considering the decrease in Indonesia (-7.4 thousand units) as a major factor, the previously announced value has been revised downwardly, subtracting 8.8 thousand units.

Japan: Considering the steady demand, the value announced on Apr. 25 has been revised upwardly, adding 4.5 thousand units.Overseas: Considering the decrease in Indonesia (-7.4 thousand units) as a major factor, the previously announced value has been revised downwardly, subtracting 8.8 thousand units.

(Thousand units) (Thousand units)FY2015

('14/4-'15/3)Forecasts

announced onOctober 30

FY2015('14/4-'15/3)Forecasts

announced onApril 25

Change Change (%)FY2014

('13/4-'14/3)Results

Change Change (%)

Japan 54.0 49.5 ＋4.5 ＋9.1% 52.2 ＋1.8 ＋3.5%

Overseas 118.3 127.1 －8.8 －6.9% 114.0 ＋4.3 ＋3.7%

Total 172.3 176.6 －4.3 －2.4% 166.2 ＋6.1 ＋3.6%

Toyotabrand (*) 167.2 157.9 ＋9.3 ＋5.9% 186.6 －19.4 －10.4%

*Including Dyna for Indonesia.

ＩＲ

4. Consolidated Financial Forecasts for FY2015

14/17

ＩＲ

Consolidated Income Statements15/17

Considering the recent trends of demand, exchange rate, etc., the operating income announced on Apr. 25 has been revised upwardly, adding 10.0 billion yen.

Considering the recent trends of demand, exchange rate, etc., the operating income announced on Apr. 25 has been revised upwardly, adding 10.0 billion yen.

(Billions of yen) (Billions of yen)

Item

FY2015('14/4-'15/3)Forecasts

announced onOctober 30

FY2015('14/4-'15/3)Forecasts

announced onApril 25

Change Change (%)FY2014

('13/4-'14/3)Results

Change Change (%)

Net sales 1,660.0 1,600.0 ＋60.0 ＋3.8% 1,699.6 －39.6 －2.3%<6.0%> <5.6%> <＋0.4p> <6.6%> <－0.6p>

Operating income 100.0 90.0 ＋10.0 ＋11.1% 112.2 －12.2 －10.9%<5.8%> <5.4%> <＋0.4p> <6.4%> <－0.6p>

Ordinary income 97.0 86.0 ＋11.0 ＋12.8% 109.1 －12.1 －11.1%<3.9%> <3.6%> <＋0.3p> <5.2%> <－1.3p>

Net income 65.0 58.0 ＋7.0 ＋12.1% 89.1 －24.1 －27.1%Note: Figures in parentheses (<>) indicate income margin.

<Exchange rate>ＵＳ$ 104 100 100

ＴＨＢ 3.24 3.09 3.22

ＩＤＲ（100） 0.89 0.88 0.93

Ａ$ 95 90 94

Second half105

3.27

0.89

95

(Yen)

ＩＲ

Analysis of Consolidated Operating Income (Comparison with forecasts announced on April 25)

16/17

100.0

90.0

8.0

1.0

1.0

(Billions of yen)Increase in operating income: ¥+10.0 billion (¥90.0 billion to ¥100.0 billion)

FY2015 (‘14/4-‘15/3)Forecasts

announced onOctober 30

FY2015 (‘14/4-‘15/3)Forecasts

announced onApril 25

Effects of sales

Improvement in cost of sales Environmental

change

Change in cost structure, etc

ＩＲ

Analysis of Consolidated Operating Income (Year-on-year comparison)

17/17

112.2100.0

FY2014Results

('13/4-'14/3)

FY2015 (‘14/4-‘15/3)Forecasts

announced onOctober 30

(12.7)21.0(11.5)(9.0)

(Billions of yen)

Effects of sales

Improvement in cost of sales Environmental

change

Change in cost structure, etc

Decrease in operating income: ¥-12.2 billion (¥112.2 billion to ¥100.0 billion)

ＩＲ