This is our first report on global automobile major, Toyota Motor. The company’s stock has been on a downward trajectory as its business has been impacted by various unexpected events, like the flood in South Africa and Shanghai lockdown. All these factors made it quite difficult for Toyota to carry out its production activities as planned. Production sites, suppliers, and dealers have worked very hard to deliver maximum vehicles to their customers. In spite of the positive effects of foreign exchange from the weaker yen, the company failed to meet Wall Street expectations in terms of earnings. The lower sales volume because of higher raw materials prices and supply constraints led to a reduction in the operating income. To strengthen the competitiveness of the overall supply chain in the long and medium term, the company will absorb the burden of its supplies resulting from the present severe business environment. We initiate coverage on the stock of Toyota with a ‘Hold’ rating.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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