Toyota 2008 Annual Report Download - page 49

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47
•Annual Report 2008 • TOYOTA
other automobile manufacturers, in fiscal
2008 a sales finance company was
established in Russia to serve customers
in Moscow and St. Petersburg. In China,
where financing operations have been
underway for three years, the TFS group
has expanded its customer base to
encompass 60% of all Toyota vehicles
sold. At the same time, it has extended
its operating base to 11 major cities
and succeeded in generating a profit
in a single fiscal year.
Elsewhere, amid severe business
conditions in the major markets of
Europe and the United States, TFS
aims to further boost earnings growth.
To do this, we will need to take find a
balance between support for vehicle
sales and diverse business risks, and
working to secure a profit margin and
reduce costs.
In Japan, TFS has expanded its
range of fixed residual value products
in an effort to provide auto sales
financing services that stimulate
demand. In addition, we introduced
the “Tsukatte Back” service that enables
customers to apply points gained
through the use of their TS CUBIC CARD
to monthly auto loan payments. As a
result of these initiatives, our retail
finance and lease ratio was a record
26.7% in fiscal 2008.
In the credit card business, the
steady growth in the number of
cardholders to approximately 6.5
million and the issuance of Electronic
Toll Collection System (ETC) cards has
enabled TFS to maintain its leadership
position in the industry. The number of
QUICPay small settlement services
members has grown to roughly three
million. In line with this growth, efforts
were also made to expand the card’s
use in convenience stores, shopping
centers, and taxis to improve customer
convenience and increase the number
of participating merchants.
With respect to the securities
business, following the success of the
“Toyota Group Equity Fund,” other easy-
to-understand mutual funds, such as
the “Toyota Group Global Bond Fund,”
were very popular. As a result, the
number of accounts grew steadily. TFS
is continuing its efforts to provide more
accessible asset-building services with a
new relaxed concept branch and the
opening of offices in new areas around
the Tokyo metropolitan area.
Financial Services Operations Organization
Overview of Toyota’s Financial
Services Operations
(As of March 31, 2008)
Total assets of financial
services operations ¥13,942.3 billion
Revenues from financial
services operations ¥1,498.3 billion
Operating income ¥86.5 billion
Credit rating AAA/Aaa
Operating areas 32 countries and
regions worldwide
Market coverage Approx. 90%
No. of customers Approx. 14 million
No. of employees Approx. 8,000
Toyota Motor
Corporation
Toyota Financial
Services Corporation
Aioi Insurance
Co., Ltd.
Toyota Financial Services
Securities Corporation
Toyota Asset
Management Co., Ltd. Toyota Accounting
Service Co.
Toyota Finance
Corporation
Overseas Sales
Finance Companies
33.42%
100% 100%
100%
50% 50% 100%
Performance Messages from the Management &
•Overview •Management •Special Feature •Business Overview •Corporate Information •Financial Section •Investor Information •