Toyota Tsusho (South Sea) Limited
2012 STAKEHOLDER BRIEFING
Jai Kumar – Financial Controller/Company Secretary
Ronald Kumar – Accounting Manager
Disclaimer
• This presentation contains privileged and confidential information and any use of the information must be carefully considered.
• •All opinions and estimates included in this briefing constitute the company’s judgment and are subject to change without notice.
• •This information is for informational purposes only and is not intended for any other purposes.
• •Investors should obtain individual financial advice based on their own particular circumstances.
Overview
• Asco Motors Summary
• Ownership
• Locations
• Brands
• Business Summary
• Vision & Mission
• Directors and Management
• 2011/12 Results
• Outlook
• Conclusion
• Questions
Asco Motors Summary
• Asco Motors have represented Toyota in the Pacific for nearly 50 years.
• The company was part of Burns Philp until it was purchased by Toyota Tsusho in 1999.
• Asco Motors parent company, Toyota Tsusho South Pacific Holdings
is based in Brisbane and manages the Toyota business in PNG, Fiji, Tonga, Vanuatu, Solomons, Samoa and American Samoa.
• The Fijian company Toyota Tsusho South Sea Ltd is listed on the South Pacific Stock Exchange.
• Equity split – TTSPH 79%, FNPF 15%, QBE 4%,Small Investors 2%.
Asco Motors Ownership
Toyota Tsusho
PNG
Toyota Tsusho
Solomon Islands
Toyota Tsusho
Vanuatu
Tonga
Samoa
American Samoa
Toyota Tsusho(South Sea) Ltd
Fiji
Toyota Tsusho South Pacific Holdings
Brisbane
100% Owned by TTC
Toyota Tsusho Corporation
23% owned by TMC
Toyota Motor Corporation
TTSPH Network
Fiji Map with Asco Locations
Asco Motors - Suva (Nabua) Head Office
Asco Motors - Labasa Branch
Asco Motors - Suva Fixed Operations
Asco Motors - Nadi Office
Asco Motors - Lautoka Branch Asco Motors - Ba Branch
2S Branches
Avis Head Office - Nadi
Asco Motors Summary
• 262 Total Staff over 5 branches
• 5 Avis locations(24 Avis staff).
• Asco Branches –
– Nabua(Suva)(149)
– Nadi(51)
– Lautoka(2S)(9)
– Ba(2S)(11)
– Labasa(Vanua Levu)(18)
• Avis Branches – Nadi Airport, Port Denarau, Suva, Nausori Airport, Labasa
Tonga facility(53 staff)
Samoa facility (36 staff)
American Samoa facility (30 staff)
Our Brands
Toyota
38% of Total Turnover
SUV Segment
Commercial Segment
Passenger Segment
Vision & Mission
Global Vision
Living and prospering together with people, society, and the globe. We aim to be a
value generating corporation that contributes to creation of a prosperous society.
As a good corporate citizen, we will:
– Implement open and fair corporate activities
– Fulfill our social responsibilities, and conserve the global the
global environment
– Offer creativity, and provide added value
– Respect people, and create an active workplace worth working
in.
Local Vision & Mission
Directors and Management
• TTSS is overseen by Brisbane Head Office (TTSPH).
• Each of the 4 countries in the company has a CEO who reports to the Managing Director in Brisbane.
• The board of directors is comprised: – Shigeru Ito (Chairman and Managing Director TTSPH)
– Abdul Hafiz(CEO Fiji)
– Teresa Apted (Non Executive)
– Mr. K. Ueda (TTC Japan)
– Mr. J. Thomas (TTSPH Brisbane)
– Mr. D. Bossley (Non Executive)
Governance
• Governance is achieved in the company via a combination of well constructed and communicated Standard Operating Procedures and stringent audit processes.
• The levels of audit include: – Internal audit Fiji – Internal audit from Brisbane – Toyota Motor Corporation process audits – Toyota Tsusho process audits – Toyota Tsusho due diligence audits – PriceWaterhouseCoopers audits – ISO audits
2011/12 Results
Turnover(FJD$,000)
41864, 39%
6853, 6%
9275, 9%
8870, 8%
5048, 5% 1650, 2%
19378, 18%
5015, 5%
4303, 4%
4107, 4%
New Vehicles
Used Vehicles
Parts
Tyres & Batteries
Service
Panel
Bowser
Car Rental
Marine Products
Operating Lease
2011/12 Consolidated Result (FJD$,000)
0.01
0.1
1
10
100
1000
10000
100000
Total Revenue
Profit After Tax
EPS
Dividend History • 2012 = 6c • 2011 = 3c • 2010 = 8c • 2009 = 10.5 • 2008 = 5c • 2007 = 6c • 2006 = 10c • 2005 = 20c • 2003 = 3c • 2002 = 2c 0
2
4
6
8
10
12
14
16
18
20
cps
Results by Country
Net Profit After Tax(FJD$’000)
2011 2012
• Group Total $1,771 $3,061 +72.8%
• Fiji $903 $2,079 230.2%
• Samoa $835 $461 -44.8%
• American Samoa ($55) $322 +685.5%
• Tonga $88 $199 126.1%
Balance Sheet Highlights
2011/12 2010/11
Current Assets $41.2m $38.4m
Non Current Assets $27.8m $21.5m
Total Assets $69.0m $59.9m
Current Liabilities
$19.1m $15.7m
Non Current Liabilities $13.7m $10.0m
Total Liabilities $32.8m $25.7m
Net Assets $36.2m $34.2m
Current Ratio 2.16 2.44
Equity Ratio 52% 57%
• TTSLL has actively contributed to the communities through various social activities.
– Donation to Prime Ministers Flood Appeal.
– Supported the Kidney Foundation in the annual fundraising walk-a-thon.
– Red Cross Blood Drive – Staff & Customers
– Fees for children of the ‘Foundation for the Education of Needy Children’.
– Supporting the efforts of the Fiji Cancer Society in the fight against cancer.
– Staff engagement in CSR activities
Corporate Social Responsibility
2012/13 Outlook
Outlook Fiji
• Intense competition
• Economic outlook looks positive
• Improvement in vehicle sales
Samoa
• outlook is positive with the resumption of normal supplies from Thailand
Tonga
• should see some improvement with increased tourism and visitor arrivals
American Samoa
• little sign of improvement due to depressed economic conditions in the country
• Trading conditions for all the countries in the group were again challenging in the 2011/12 financial
• However the outlook for the next 12 months looks promising judging from the results of the 1st quarter ended June 2012
Conclusion
THANK YOU
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