Document and Entity Information
Document and Entity Information | 12 Months Ended |
Mar. 31, 2018shares | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | FY |
Trading Symbol | TM |
Entity Registrant Name | TOYOTA MOTOR CORP/ |
Entity Central Index Key | 1,094,517 |
Current Fiscal Year End Date | --03-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 2,909,923,992 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Current assets | ||
Cash and cash equivalents | ¥ 3,052,269 | ¥ 2,995,075 |
Time deposits | 901,244 | 1,082,654 |
Marketable securities | 1,768,360 | 1,821,598 |
Trade accounts and notes receivable, less allowance for doubtful accounts of ¥50,110 million in 2017 and ¥25,925 million in 2018 | 2,219,562 | 2,115,938 |
Finance receivables, net | 6,348,306 | 6,196,649 |
Other receivables | 489,338 | 436,867 |
Inventories | 2,539,789 | 2,388,617 |
Prepaid expenses and other current assets | 833,788 | 796,297 |
Total current assets | 18,152,656 | 17,833,695 |
Noncurrent finance receivables, net | 9,481,618 | 9,012,222 |
Investments and other assets | ||
Marketable securities and other securities investments | 7,999,323 | 7,679,928 |
Affiliated companies | 3,162,917 | 2,845,639 |
Employees receivables | 22,562 | 25,187 |
Other | 1,221,500 | 1,156,406 |
Total investments and other assets | 12,406,302 | 11,707,160 |
Property, plant and equipment | ||
Land | 1,404,611 | 1,379,991 |
Buildings | 4,659,753 | 4,470,996 |
Machinery and equipment | 11,535,381 | 11,357,340 |
Vehicles and equipment on operating leases | 5,934,393 | 5,966,579 |
Construction in progress | 509,851 | 474,188 |
Total property, plant and equipment, at cost | 24,043,989 | 23,649,094 |
Less - Accumulated depreciation | (13,776,316) | (13,451,985) |
Total property, plant and equipment, net | 10,267,673 | 10,197,109 |
Total assets | 50,308,249 | 48,750,186 |
Current liabilities | ||
Short-term borrowings | 5,154,913 | 4,953,682 |
Current portion of long-term debt | 4,186,277 | 4,290,449 |
Accounts payable | 2,586,657 | 2,566,382 |
Other payables | 1,048,216 | 936,938 |
Accrued expenses | 3,104,260 | 3,137,827 |
Income taxes payable | 462,327 | 223,574 |
Other current liabilities | 1,254,241 | 1,210,113 |
Total current liabilities | 17,796,891 | 17,318,965 |
Long-term liabilities | ||
Long-term debt | 10,006,374 | 9,911,596 |
Accrued pension and severance costs | 931,182 | 905,070 |
Deferred income taxes | 1,118,165 | 1,423,726 |
Other long-term liabilities | 533,561 | 521,876 |
Total long-term liabilities | 12,589,282 | 12,762,268 |
Total liabilities | 30,386,173 | 30,081,233 |
Mezzanine equity | ||
Model AA Class Shares, no par value, authorized: 150,000,000 shares in 2017 and 2018; issued: 47,100,000 shares in 2017 and 2018 | 491,974 | 485,877 |
Toyota Motor Corporation shareholders' equity | ||
Common stock, no par value, authorized: 10,000,000,000 shares in 2017 and 2018; issued: 3,262,997,492 shares in 2017 and 2018 | 397,050 | 397,050 |
Additional paid-in capital | 487,502 | 484,013 |
Retained earnings | 19,473,464 | 17,601,070 |
Accumulated other comprehensive income (loss) | 435,699 | 640,922 |
Treasury stock, at cost, 288,274,636 shares in 2017 and 353,073,500 shares in 2018 | (2,057,733) | (1,608,243) |
Total Toyota Motor Corporation shareholders' equity | 18,735,982 | 17,514,812 |
Noncontrolling interests | 694,120 | 668,264 |
Total shareholders' equity | 19,430,102 | 18,183,076 |
Commitments and contingencies | ||
Total liabilities, mezzanine equity and shareholders' equity | ¥ 50,308,249 | ¥ 48,750,186 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Trade accounts and notes receivable, allowance for doubtful accounts, current | ¥ 25,925 | ¥ 50,110 |
Model AA Class Shares, no par value | ||
Model AA Class Shares, authorized | 150,000,000 | 150,000,000 |
Model AA Class Shares, issued | 47,100,000 | 47,100,000 |
Common stock, no par value | ||
Common stock, authorized | 10,000,000,000 | 10,000,000,000 |
Common stock, issued | 3,262,997,492 | 3,262,997,492 |
Treasury stock, shares | 353,073,500 | 288,274,636 |
Total number of authorized shares for common stock and Model AA Class Shares | 10,000,000,000 | 10,000,000,000 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Net revenues | |||
Sales of products | ¥ 27,420,276 | ¥ 25,813,496 | ¥ 26,549,111 |
Financing operations | 1,959,234 | 1,783,697 | 1,854,007 |
Total net revenues | 29,379,510 | 27,597,193 | 28,403,118 |
Costs and expenses | |||
Cost of products sold | 22,600,474 | 21,543,035 | 21,456,086 |
Cost of financing operations | 1,288,679 | 1,191,301 | 1,149,379 |
Selling, general and administrative | 3,090,495 | 2,868,485 | 2,943,682 |
Total costs and expenses | 26,979,648 | 25,602,821 | 25,549,147 |
Operating income | 2,399,862 | 1,994,372 | 2,853,971 |
Other income (expense) | |||
Interest and dividend income | 179,541 | 158,983 | 157,862 |
Interest expense | (27,586) | (29,353) | (35,403) |
Foreign exchange gain (loss), net | 22,664 | 33,601 | (5,573) |
Other income (loss), net | 45,948 | 36,222 | 12,524 |
Total other income (expense) | 220,567 | 199,453 | 129,410 |
Income before income taxes and equity in earnings of affiliated companies | 2,620,429 | 2,193,825 | 2,983,381 |
Provision for income taxes | 504,406 | 628,900 | 878,269 |
Equity in earnings of affiliated companies | 470,083 | 362,060 | 329,099 |
Net income | 2,586,106 | 1,926,985 | 2,434,211 |
Less - Net income attributable to noncontrolling interests | (92,123) | (95,876) | (121,517) |
Net income attributable to Toyota Motor Corporation | ¥ 2,493,983 | ¥ 1,831,109 | ¥ 2,312,694 |
Net income attributable to Toyota Motor Corporation per common share | |||
- Basic | ¥ 842 | ¥ 605.47 | ¥ 741.36 |
- Diluted | 832.78 | 599.22 | 735.36 |
Cash dividends per common share | ¥ 220 | ¥ 210 | ¥ 210 |
CONSOLIDATED STATEMENTS OF INC5
CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net income attributable to common shareholders | ¥ 2,481,692 | ¥ 1,821,314 |
Dividend and accretion to Model AA Class Shares | ¥ 12,291 | ¥ 9,795 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Net income | ¥ 2,586,106 | ¥ 1,926,985 | ¥ 2,434,211 |
Other comprehensive income (loss), net of tax | |||
Foreign currency translation adjustments | (120,606) | (57,926) | (395,352) |
Unrealized gains (losses) on securities | (94,559) | 4,279 | (312,192) |
Pension liability adjustments | 22,315 | 93,312 | (209,181) |
Other comprehensive income (loss), net of tax | (192,850) | 39,665 | (916,725) |
Total comprehensive income | 2,393,256 | 1,966,650 | 1,517,486 |
Less - Comprehensive income attributable to noncontrolling interests | (93,096) | (103,161) | (71,569) |
Comprehensive income attributable to Toyota Motor Corporation | ¥ 2,300,160 | ¥ 1,863,489 | ¥ 1,445,917 |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - JPY (¥) ¥ in Millions | Total | Common stock | Additional paid-in capital | Retained earnings | Accumulated other comprehensive income (loss) | Treasury stock, at cost | Total Toyota Motor Corporation shareholders' equity | Noncontrolling interests |
Balances at Mar. 31, 2015 | ¥ 17,647,329 | ¥ 397,050 | ¥ 547,054 | ¥ 15,591,947 | ¥ 1,477,545 | ¥ (1,225,465) | ¥ 16,788,131 | ¥ 859,198 |
Equity transaction with noncontrolling interests and other | 5,709 | 1,972 | (97) | 1,875 | 3,834 | |||
Comprehensive income | ||||||||
Net income | 2,434,211 | 2,312,694 | 2,312,694 | 121,517 | ||||
Other comprehensive income (loss) | ||||||||
Foreign currency translation adjustments | (395,352) | (362,965) | (362,965) | (32,387) | ||||
Unrealized gains (losses) on securities | (312,192) | (302,620) | (302,620) | (9,572) | ||||
Pension liability adjustments | (209,181) | (201,192) | (201,192) | (7,989) | ||||
Total comprehensive income | 1,517,486 | 1,445,917 | 71,569 | |||||
Accretion to Mezzanine equity | (3,638) | (3,638) | (3,638) | |||||
Dividends to Toyota Motor Corporation class shareholders | (2,449) | (2,449) | (2,449) | |||||
Dividends paid to Toyota Motor Corporation common shareholders | (704,728) | (704,728) | (704,728) | |||||
Dividends paid to noncontrolling interests | (73,129) | (73,129) | ||||||
Repurchase of treasury stock | (782,871) | (782,871) | (782,871) | |||||
Reissuance of treasury stock | 4,698 | 183 | 4,515 | 4,698 | ||||
Retirement of treasury stock | (1,048) | (399,489) | 400,537 | |||||
Balances at Mar. 31, 2016 | 17,608,407 | 397,050 | 548,161 | 16,794,240 | 610,768 | (1,603,284) | 16,746,935 | 861,472 |
Equity transaction with noncontrolling interests and other | 13,347 | (35,555) | (2,226) | 283,561 | 245,780 | (232,433) | ||
Comprehensive income | ||||||||
Net income | 1,926,985 | 1,831,109 | 1,831,109 | 95,876 | ||||
Other comprehensive income (loss) | ||||||||
Foreign currency translation adjustments | (57,926) | (52,427) | (52,427) | (5,499) | ||||
Unrealized gains (losses) on securities | 4,279 | (8,002) | (8,002) | 12,281 | ||||
Pension liability adjustments | 93,312 | 92,809 | 92,809 | 503 | ||||
Total comprehensive income | 1,966,650 | 1,863,489 | 103,161 | |||||
Accretion to Mezzanine equity | (4,849) | (4,849) | (4,849) | |||||
Dividends to Toyota Motor Corporation class shareholders | (4,946) | (4,946) | (4,946) | |||||
Dividends paid to Toyota Motor Corporation common shareholders | (634,475) | (634,475) | (634,475) | |||||
Dividends paid to noncontrolling interests | (63,936) | (63,936) | ||||||
Repurchase of treasury stock | (700,228) | (700,228) | (700,228) | |||||
Reissuance of treasury stock | 3,106 | (1,219) | 4,325 | 3,106 | ||||
Retirement of treasury stock | (27,374) | (380,009) | 407,383 | |||||
Balances at Mar. 31, 2017 | 18,183,076 | 397,050 | 484,013 | 17,601,070 | 640,922 | (1,608,243) | 17,514,812 | 668,264 |
Equity transaction with noncontrolling interests and other | (1,659) | 1,817 | 11,400 | (11,400) | 1,817 | (3,476) | ||
Comprehensive income | ||||||||
Net income | 2,586,106 | 2,493,983 | 2,493,983 | 92,123 | ||||
Other comprehensive income (loss) | ||||||||
Foreign currency translation adjustments | (120,606) | (118,977) | (118,977) | (1,629) | ||||
Unrealized gains (losses) on securities | (94,559) | (96,581) | (96,581) | 2,022 | ||||
Pension liability adjustments | 22,315 | 21,735 | 21,735 | 580 | ||||
Total comprehensive income | 2,393,256 | 2,300,160 | 93,096 | |||||
Accretion to Mezzanine equity | (4,849) | (4,849) | (4,849) | |||||
Dividends to Toyota Motor Corporation class shareholders | (7,442) | (7,442) | (7,442) | |||||
Dividends paid to Toyota Motor Corporation common shareholders | (620,698) | (620,698) | (620,698) | |||||
Dividends paid to noncontrolling interests | (63,764) | (63,764) | ||||||
Repurchase of treasury stock | (500,177) | (500,177) | (500,177) | |||||
Reissuance of treasury stock | 52,359 | 1,672 | 50,687 | 52,359 | ||||
Balances at Mar. 31, 2018 | ¥ 19,430,102 | ¥ 397,050 | ¥ 487,502 | ¥ 19,473,464 | ¥ 435,699 | ¥ (2,057,733) | ¥ 18,735,982 | ¥ 694,120 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Cash flows from operating activities | |||
Net income | ¥ 2,586,106 | ¥ 1,926,985 | ¥ 2,434,211 |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Depreciation | 1,734,033 | 1,610,950 | 1,625,837 |
Provision for doubtful accounts and credit losses | 76,069 | 98,666 | 159,265 |
Pension and severance costs, less payments | 4,286 | 23,253 | 8,833 |
Losses on disposal of fixed assets | 35,289 | 30,673 | 33,329 |
Unrealized losses on available-for-sale securities, net | 846 | 7,073 | 9,272 |
Deferred income taxes | (237,961) | (53,299) | 32,889 |
Equity in earnings of affiliated companies | (470,083) | (362,060) | (329,099) |
Changes in operating assets and liabilities, and other | |||
Increase in accounts and notes receivable | (105,435) | (264,784) | (25,180) |
Increase in inventories | (171,148) | (246,326) | (68,912) |
Increase in other current assets | (162,582) | (152,116) | (200,669) |
Increase in accounts payable | 46,648 | 145,957 | 120,381 |
Increase (decrease) in accrued income taxes | 238,753 | (121,032) | (5,516) |
Increase in other current liabilities | 211,452 | 480,094 | 368,923 |
Other | 423,736 | 290,203 | 297,293 |
Net cash provided by operating activities | 4,210,009 | 3,414,237 | 4,460,857 |
Cash flows from investing activities | |||
Additions to finance receivables | (15,058,516) | (13,636,694) | (13,549,278) |
Collection of finance receivables | 14,013,204 | 12,885,944 | 13,067,700 |
Proceeds from sales of finance receivables | 33,108 | 42,037 | 48,154 |
Additions to fixed assets excluding equipment leased to others | (1,291,117) | (1,223,878) | (1,282,545) |
Additions to equipment leased to others | (2,307,590) | (2,317,559) | (2,776,671) |
Proceeds from sales of fixed assets excluding equipment leased to others | 71,820 | 41,238 | 42,147 |
Proceeds from sales of equipment leased to others | 1,211,272 | 1,238,278 | 1,111,727 |
Purchases of marketable securities and security investments | (3,052,916) | (2,517,008) | (2,197,477) |
Proceeds from sales of marketable securities and security investments | 275,574 | 260,039 | 108,708 |
Proceeds upon maturity of marketable securities and security investments | 2,247,964 | 1,641,502 | 3,307,107 |
Payment for additional investments in affiliated companies, net of cash acquired | (576) | 44,274 | 628 |
Changes in investments and other assets, and other | 197,681 | 571,888 | (1,062,744) |
Net cash used in investing activities | (3,660,092) | (2,969,939) | (3,182,544) |
Cash flows from financing activities | |||
Proceeds from issuance of long-term debt | 4,793,939 | 4,603,446 | 4,845,872 |
Payments of long-term debt | (4,452,338) | (3,845,554) | (4,176,202) |
Increase (decrease) in short-term borrowings | 347,738 | 273,037 | (10,903) |
Proceeds from issuance of class shares | 474,917 | ||
Dividends paid to Toyota Motor Corporation class shareholders | (6,194) | (3,697) | (1,225) |
Dividends paid to Toyota Motor Corporation common shareholders | (620,698) | (634,475) | (704,728) |
Dividends paid to noncontrolling interests | (63,764) | (63,936) | (73,129) |
Reissuance (repurchase) of treasury stock, and other | (447,818) | (703,986) | (778,173) |
Net cash used in financing activities | (449,135) | (375,165) | (423,571) |
Effect of exchange rate changes on cash and cash equivalents | (43,588) | (13,486) | (199,871) |
Net increase in cash and cash equivalents | 57,194 | 55,647 | 654,871 |
Cash and cash equivalents at beginning of year | 2,995,075 | 2,939,428 | 2,284,557 |
Cash and cash equivalents at end of year | ¥ 3,052,269 | ¥ 2,995,075 | ¥ 2,939,428 |
Nature of operations
Nature of operations | 12 Months Ended |
Mar. 31, 2018 | |
Nature of operations | 1. Nature of operations: Toyota and its affiliated companies are primarily engaged in the design, manufacture, and sale of sedans, minivans, compact cars, sport-utility vehicles, trucks and related parts and accessories throughout the world. In addition, Toyota and its affiliated companies provide financing, vehicle and equipment leasing and certain other financial services primarily to its dealers and their customers to support the sales of vehicles and other products manufactured by Toyota and its affiliated companies. |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Mar. 31, 2018 | |
Summary of significant accounting policies | 2. Summary of significant accounting policies: The parent company and its subsidiaries in Japan and its foreign subsidiaries maintain their records and prepare their financial statements in accordance with Japanese generally accepted accounting principles and those of their countries of domicile. Certain adjustments and reclassifications have been incorporated in the accompanying consolidated financial statements to conform to U.S.GAAP. Significant accounting policies after reflecting adjustments for the above are as follows: Basis of consolidation and accounting for investments in affiliated companies - The consolidated financial statements include the accounts of the parent company, its majority-owned subsidiary companies and variable interest entities of which Toyota is the primary beneficiary. All significant intercompany transactions and accounts have been eliminated. Investments in affiliated companies in which Toyota exercises significant influence, but which it does not control, are stated at cost plus equity in undistributed earnings. Consolidated net income includes Toyota’s equity in current earnings of such companies, after elimination of unrealized intercompany profits. Investments in such companies are reduced to fair value if a decline in market value is determined other-than-temporary. Investments in non-public Estimates - The preparation of Toyota’s consolidated financial statements in conformity with U.S.GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. The more significant estimates include: product warranties, liabilities accrued for recalls and other safety measures, allowance for doubtful accounts and credit losses, residual values for leased assets, impairment of long-lived assets, pension costs and obligations, fair value of derivative financial instruments, other-than-temporary losses on marketable securities, litigation liabilities and valuation allowance for deferred tax assets. Translation of foreign currencies - All asset and liability accounts of foreign subsidiaries and affiliated companies are translated into Japanese yen at appropriate year-end Foreign currency receivables and payables are translated at appropriate year-end Revenue recognition - Revenues from sales of vehicles and parts are generally recognized upon delivery which is considered to have occurred when the dealer has taken title to the product and the risk and reward of ownership have been substantively transferred, except as described below. Toyota’s sales incentive programs principally consist of cash payments to dealers calculated based on vehicle volume or a model sold by a dealer during a certain period of time. Toyota accrues these incentives as revenue reductions upon the sale of a vehicle corresponding to the program by the amount determined in the related incentive program. Revenues from the sales of vehicles under which Toyota conditionally guarantees the minimum resale value are recognized on a pro rata basis from the date of sale to the first exercise date of the guarantee in a manner similar to operating lease accounting. The underlying vehicles of these transactions are recorded as assets and are depreciated in accordance with Toyota’s depreciation policy. Revenues from retail financing contracts and finance leases are recognized using the effective yield method. Revenues from operating leases are recognized on a straight-line basis over the lease term. The sale of certain vehicles includes a determinable amount for the contract, which entitles customers to free vehicle maintenance. Such revenues from free maintenance contracts are deferred and recognized as revenue over the period of the contract, which approximates the pattern of the related costs. Other costs - Advertising and sales promotion costs are expensed as incurred. Advertising costs were ¥489,036 million, ¥448,780 million and ¥509,653 million for the years ended March 31, 2016, 2017 and 2018, respectively. Toyota generally warrants its products against certain manufacturing and other defects. Provisions for product warranties are provided for specific periods of time and/or usage of the product and vary depending upon the nature of the product, the geographic location of the sale and other factors. Toyota records a provision for estimated product warranty costs at the time the related sale is recognized based on estimates that Toyota will incur to repair or replace product parts that fail while under warranty. The amount of accrued estimated warranty costs is primarily based on historical experience as to product failures as well as current information on repair costs. The amount of warranty costs accrued also contains an estimate of warranty claim recoveries to be received from suppliers. In addition to product warranties above, Toyota accrues for costs of recalls and other safety measures based on management’s estimates when it is probable a liability has been incurred and the amount of loss can be reasonably estimated. Toyota mainly employs an estimation model, to accrue at the time of vehicle sale, an amount that represents management’s best estimate of expenses related to future recalls and other safety measures. The estimation model for recalls and other safety measures takes into account Toyota’s historical experience of recalls and other safety measures. Litigation liabilities are established to cover probable losses on various lawsuits based on the information currently available. Attorneys’ fees are expensed as incurred. Research and development costs are expensed as incurred. Research and development costs were ¥1,055,672 million, ¥1,037,528 million and ¥1,064,269 million for the years ended March 31, 2016, 2017 and 2018, respectively. Cash and cash equivalents - Cash and cash equivalents include all highly liquid investments with original maturities of three months or less, that are readily convertible to known amounts of cash and are so near maturity that they present insignificant risk of changes in value because of changes in interest rates. Marketable securities - Marketable securities consist of debt and equity securities. Debt and equity securities designated as available-for-sale available-for-sale Security investments in non-public Security investments in non-public non-public Finance receivables - Finance receivables recorded on Toyota’s consolidated balance sheets are comprised of the unpaid principal balance, plus accrued interest, less charge-offs, net of any unearned income and deferred origination costs and the allowance for credit losses. Deferred origination costs are amortized so as to approximate a level rate of return over the term of the related contracts. The determination of portfolio segments is based primarily on the qualitative consideration of the nature of Toyota’s business operations and finance receivables. The three portfolio segments within finance receivables are as follows: Retail receivables portfolio segment - The retail receivables portfolio segment consists of retail installment sales contracts acquired mainly from dealers (“auto loans”) including credit card loans. These contracts acquired must first meet specified credit standards. Thereafter, Toyota retains responsibility for contract collection and administration. The contract periods of auto loans primarily range from 2 to 7 years. Toyota acquires security interests in the vehicles financed and has the right to repossess vehicles if customers fail to meet their contractual obligations. Almost all auto loans are non-recourse, Toyota classifies retail receivables portfolio segment into one class based on common risk characteristics associated with the underlying finance receivables, the similarity of the credit risks, and the quantitative materiality. Finance lease receivables portfolio segment - Toyota acquires new vehicle lease contracts originated primarily through dealers. The contract periods of these primarily range from 2 to 5 years. Lease contracts acquired must first meet specified credit standards after which Toyota assumes ownership of the leased vehicle. Toyota is responsible for contract collection and administration during the lease period. Toyota is generally permitted to take possession of the vehicle upon a default by the lessee. The residual value is estimated at the time the vehicle is first leased. Vehicles returned to Toyota at the end of their leases are sold by auction. Toyota classifies finance lease receivables portfolio segment into one class based on common risk characteristics associated with the underlying finance receivables and the similarity of the credit risks. Wholesale and other dealer loan receivables portfolio segment - Toyota provides wholesale financing to qualified dealers to finance inventories. Toyota acquires security interests in vehicles financed at wholesale. In cases where additional security interests would be required, Toyota takes dealership assets or personal assets, or both, as additional security. If a dealer defaults, Toyota has the right to liquidate any assets acquired and seek legal remedies. Toyota also makes term loans to dealers for business acquisitions, facilities refurbishment, real estate purchases and working capital requirements. These loans are typically secured with liens on real estate, other dealership assets and/or personal assets of the dealers. Toyota classifies wholesale and other dealer loan receivables portfolio segment into three classes of wholesale, real estate and working capital, based on the risk characteristics associated with the underlying finance receivables. A receivable account balance is considered impaired when, based on current information and events, it is probable that Toyota will be unable to collect all amounts due according to the terms of the contract. Factors such as payment history, compliance with terms and conditions of the underlying loan agreement and other subjective factors related to the financial stability of the borrower are considered when determining whether a loan is impaired. Impaired finance receivables include certain nonaccrual receivables for which a specific reserve has been assessed. An account modified as a troubled debt restructuring is considered to be impaired. A troubled debt restructuring occurs when an account is modified through a concession to a borrower experiencing financial difficulty. All classes of wholesale and other dealer loan receivables portfolio segment are placed on nonaccrual status when full payment of principal or interest is in doubt, or when principal or interest is 90 days or more contractually past due, whichever occurs first. Collateral dependent loans are placed on nonaccrual status if collateral is insufficient to cover principal and interest. Interest accrued but not collected at the date a receivable is placed on nonaccrual status is reversed against interest income. In addition, the amortization of net deferred fees is suspended. Interest income on nonaccrual receivables is recognized only to the extent it is received in cash. Accounts are restored to accrual status only when interest and principal payments are brought current and future payments are reasonably assured. Receivable balances are written-off written-off As of March 31, 2017 and 2018, finance receivables on nonaccrual status are as follows: Yen in millions March 31, 2017 2018 Retail 7,064 6,897 Finance leases 2,297 2,117 Wholesale 15,018 12,484 Real estate 12,632 13,856 Working capital 561 105 37,572 35,459 As of March 31, 2017 and 2018, finance receivables 90 days or more past due and accruing are as follows: Yen in millions March 31, 2017 2018 Retail 26,616 26,007 Finance leases 3,526 3,812 30,142 29,819 Allowance for credit losses - Allowance for credit losses is established to cover probable losses on finance receivables and vehicles and equipment on operating leases, resulting from the inability of customers to make required payments. Provision for credit losses is included in selling, general and administrative expenses. The allowance for credit losses is based on a systematic, ongoing review and evaluation performed as part of the credit-risk evaluation process, historical loss experience, the size and composition of the portfolios, current economic events and conditions, the estimated fair value and adequacy of collateral and other pertinent factors. Vehicles and equipment on operating leases are not within the scope of accounting guidance governing the disclosure of portfolio segments. Retail receivables portfolio segment - Toyota calculates allowance for credit losses to cover probable losses on retail receivables by applying reserve rates to such receivables. Reserve rates are calculated mainly by historical loss experience, current economic events and conditions and other pertinent factors. Finance lease receivables portfolio segment - Toyota calculates allowance for credit losses to cover probable losses on finance lease receivables by applying reserve rates to such receivables. Reserve rates are calculated mainly by historical loss experience, current economic events and conditions and other pertinent factors such as used car markets. Wholesale and other dealer loan receivables portfolio segment - Toyota calculates allowance for credit losses to cover probable losses on wholesale and other dealer loan receivables by applying reserve rates to such receivables. Reserve rates are calculated mainly by financial conditions of the dealers, terms of collateral setting, current economic events and conditions and other pertinent factors. Toyota establishes specific reserves to cover the estimated losses on individually impaired receivables within the wholesale and other dealer loan receivables portfolio segment. Specific reserves on impaired receivables are determined by the present value of expected future cash flows or the fair value of collateral when it is probable that such receivables will be unable to be fully collected. The fair value of the underlying collateral is used if the receivable is collateral-dependent. The receivable is determined collateral-dependent if the repayment of the loan is expected to be provided by the underlying collateral. For the receivables in which the fair value of the underlying collateral was in excess of the outstanding balance, no allowance was provided. Troubled debt restructurings in the retail receivables and finance lease receivables portfolio segments are specifically identified as impaired and aggregated with their respective portfolio segments when determining the allowance for credit losses. Impaired loans in the retail receivables and finance lease receivables portfolio segments are insignificant for individual evaluation and Toyota has determined that allowance for credit losses for each of the retail receivables and finance lease receivables portfolio segments would not be materially different if they had been individually evaluated for impairment. Specific reserves on impaired receivables within the wholesale and other dealer loan receivables portfolio segment are recorded by an increase to the allowance for credit losses based on the related measurement of impairment. Related collateral, if recoverable, is repossessed and sold and the account balance is written-off. Any shortfall between proceeds received and the carrying cost of repossessed collateral is charged to the allowance. Recoveries are reversed from the allowance for credit losses. Allowance for residual value losses - Toyota is exposed to risk of loss on the disposition of off-lease The allowance for residual value losses is maintained in amounts considered by Toyota to be appropriate in relation to the estimated losses on its owned portfolio. Upon disposal of the assets, the allowance for residual losses is adjusted for the difference between the net book value and the proceeds from sale. Inventories - Inventories are valued at cost, not in excess of net realizable value, cost being determined on the “average-cost” basis, except for the cost of finished products carried by certain subsidiary companies which is determined on the “specific identification” basis or “last-in, first-out” “first-in, first-out” Property, plant and equipment - Property, plant and equipment are stated at cost. Major renewals and improvements are capitalized; minor replacements, maintenance and repairs are charged to current operations. Depreciation of property, plant and equipment is mainly computed on the declining-balance method for the parent company and Japanese subsidiaries and on the straight-line method for foreign subsidiary companies at rates based on estimated useful lives of the respective assets according to general class, type of construction and use. The estimated useful lives range from 2 to 65 years for buildings and from 2 to 20 years for machinery and equipment. Vehicles and equipment on operating leases to third parties are originated by dealers and acquired by certain consolidated subsidiaries. Such subsidiaries are also the lessors of certain property that they acquire directly. Vehicles and equipment on operating leases are depreciated primarily on a straight-line method over the lease term, generally from 2 to 5 years, to the estimated residual value. Incremental direct costs incurred in connection with the acquisition of operating lease contracts are capitalized and amortized on a straight-line method over the lease term. Long-lived assets - Toyota reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset group exceeds the estimated undiscounted cash flows expected to result from the use of the asset and its eventual disposition. The amount of the impairment loss to be recorded is calculated by the excess of the carrying value of the asset group over its fair value. Fair value is determined mainly using a discounted cash flow valuation method. Goodwill and intangible assets - Goodwill is not material to Toyota’s consolidated balance sheets. Intangible assets consist mainly of software. Intangible assets with a definite life are amortized on a straight-line basis with estimated useful lives mainly of 5 years. Intangible assets with an indefinite life are tested for impairment whenever events or circumstances indicate that a carrying amount of an asset (asset group) may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows used in determining the fair value of the asset. The amount of the impairment loss to be recorded is generally determined by the difference between the fair value of the asset using a discounted cash flow valuation method and the current book value. Employee benefit obligations - Toyota has both defined benefit and defined contribution plans for employees’ retirement benefits. Retirement benefit obligations are measured by actuarial calculations in accordance with U.S.GAAP. The funded status of the defined benefit postretirement plans is recognized on the consolidated balance sheets as prepaid pension and severance costs or accrued pension and severance costs, and the funded status change is recognized in the year in which it occurs through other comprehensive income. Environmental matters - Environmental expenditures relating to current operations are expensed or capitalized as appropriate. Expenditures relating to existing conditions caused by past operations, which do not contribute to current or future revenues, are expensed. Liabilities for remediation costs are recorded when they are probable and reasonably estimable, generally no later than the completion of feasibility studies or Toyota’s commitment to a plan of action. The cost of each environmental liability is estimated by using current technology available and various engineering, financial and legal specialists within Toyota based on current law. Such liabilities do not reflect any offset for possible recoveries from insurance companies and are not discounted. There were no material changes in these liabilities for all periods presented. Income taxes - The provision for income taxes is computed based on the pretax income included in the consolidated statements of income. The asset and liability approach is used to recognize deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Derivative financial instruments - Toyota employs derivative financial instruments, including forward foreign currency exchange contracts, foreign currency options, interest rate swaps, interest rate currency swap agreements and interest rate options to manage its exposure to fluctuations in interest rates and foreign currency exchange rates. All derivative financial instruments are recorded on the consolidated balance sheets at fair value, taking into consideration the effects of legally enforceable master netting agreements that allow us to net settle positive and negative positions and offset cash collateral held with the same counterparty on a net basis. Toyota does not use derivatives for speculation or trading purposes. Changes in the fair value of derivatives are recorded each period in current earnings or through other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. The ineffective portion of all hedges is recognized currently in operations. Net income attributable to Toyota Motor Corporation per common share - Basic net income attributable to Toyota Motor Corporation per common share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the reported period. The calculation of diluted net income attributable to Toyota Motor Corporation per common share is done by adjusting net income attributable to common shareholders and the weighted-average number of common shares outstanding, which includes the additional dilution from the assumed conversion of model AA class shares and the assumed exercise of dilutive stock options. Stock-based compensation - Toyota measures compensation expense for its stock-based compensation plan based on the grant-date fair value of the award, and accounts for the award. Other comprehensive income - Other comprehensive income refers to revenues, expenses, gains and losses that, under U.S.GAAP are included in comprehensive income, but are excluded from net income as these amounts are recorded directly as an adjustment to shareholders’ equity. Toyota’s other comprehensive income is primarily comprised of unrealized gains/losses on marketable securities designated as available-for-sale, Accounting changes - In July 2015, the Financial Accounting Standards Board (“FASB”) issued updated guidance to simplify the measurement of inventory. Toyota adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. In March 2016, the FASB issued updated guidance for effect of derivative contract novations on existing hedge accounting relationships. This guidance clarifies that a change in the counterparty to a designated derivative hedging instrument does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. Toyota adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. In March 2016, the FASB issued updated guidance for contingent put and call options in debt instruments. This guidance clarifies whether embedded contingent put and call options are clearly and closely related to the debt host when bifurcating embedded derivatives. Toyota adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. In October 2016, the FASB issued updated guidance for consolidation. Under this guidance, a reporting entity would evaluate its indirect economic interest in a variable interest entity held through a related party under common control on a proportionate basis. Toyota adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. In February 2018, the FASB issued updated guidance for comprehensive income. This guidance allows entities to reclassify tax effects stranded in accumulated other comprehensive incomes as a result of the Tax Cuts and Jobs Act of 2017 of the United States to retained earnings. Toyota early adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. Recent pronouncements to be adopted in future periods - In May 2014, the FASB issued updated guidance on the recognition of revenue from contracts with customers. This guidance requires an entity to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and supersedes the current revenue recognition guidance. In August 2015, the FASB issued updated guidance on the deferral of the effective date. As a result, this guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. This guidance may be adopted retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this guidance recognized at the date of initial application. Toyota will apply the modified retrospective method of adoption from the fiscal year beginning April 1, 2018. Management does not expect this guidance to have a material impact on Toyota’s consolidated financial statements. In January 2016, the FASB issued updated guidance for financial instruments. This guidance addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments and will require entities to measure equity investments at fair value and recognize any changes in fair value in net income. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Toyota will adopt this guidance from the fiscal year beginning April 1, 2018. Toyota will recognize a cumulative-effect adjustment to retained earnings of ¥1,125,109 million as of April 1, 2018 for after-tax unrealized gains of available-for-sale equity securities previously recognized in accumulated other comprehensive income. In February 2016, the FASB issued updated guidance for leases. This guidance will require lessees to recognize almost all leases on their balance sheet as a right-of-use In June 2016, the FASB issued updated guidance for measurement of credit losses on financial instruments. This guidance introduces an approach to estimate credit losses on certain types of financial instruments based on expected losses. It also modifies the impairment model for available-for-sale In August 2016, the FASB issued updated guidance for classification of statement of cash flows. This guidance clarifies classification of certain cash receipts and cash payments of statement of cash flows. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Management does not expect this guidance to have a material impact on Toyota’s consolidated financial statements. In October 2016, the FASB issued updated guidance that would require entities to recognize the income tax consequences of intercompany asset transfers other than inventory. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Management does not expect this guidance to have a material impact on Toyota’s consolidated financial statements. In November 2016, the FASB issued updated guidance for the statement of cash flows. This guidance will require that restricted cash and restricted cash equivalents should be included with cash and cash equivalents. It will also require entities to disclose how the statement of cash flows that includes restricted cash with cash and cash equivalents reconciles to the balance sheet. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Management does not expect this guidance to have a material impact on Toyota’s consolidated financial statements. In August 2017, the FASB issued updated guidance for hedge accounting. This guidance simplifies and expands the application of hedge accounting. This guidance is effective for fiscal year beginning after December 15, 2018, including interim periods within those fiscal years. Management is evaluating the impact of adopting this guidance on Toyota’s consolidated financial statements. Reclassifications - Certain prior year amounts have been reclassified to conform to the presentations as of and for the year ended March 31, 2018. |
Supplemental cash flow informat
Supplemental cash flow information | 12 Months Ended |
Mar. 31, 2018 | |
Supplemental cash flow information | 3. Supplemental cash flow information: Cash payments for income taxes were ¥884,589 million, ¥854,600 million and ¥500,214 million for the years ended March 31, 2016, 2017 and 2018, respectively. Interest payments during the years ended March 31, 2016, 2017 and 2018 were ¥381,280 million, ¥362,602 million and ¥422,720 million, respectively. Capital lease obligations of ¥6,546 million, ¥5,975 million and ¥4,467 million were incurred for the years ended March 31, 2016, 2017 and 2018, respectively. |
Acquisitions and dispositions
Acquisitions and dispositions | 12 Months Ended |
Mar. 31, 2018 | |
Acquisitions and dispositions | 4. Acquisitions and dispositions: Toyota Housing Corporation, a consolidated subsidiary of Toyota Motor Corporation, increased its ownership interest in Misawa Homes Co., Ltd. (Business description: Production and sale of housing materials and components, etc.) to 51% by acquiring 11,181,798 shares of common stock of Misawa Homes Co., Ltd. through a tender offer on December 29, 2016 as well as a third-party allotment of Misawa Homes Co., Ltd. shares to Toyota Housing Corporation and a disposal of Misawa Homes Co., Ltd. treasury stock on January 5, 2017, in order to increase competitiveness through enhanced cooperation with Misawa Homes Co., Ltd. As a result, Misawa Homes Co., Ltd., previously an affiliated company accounted for under the equity method, is now accounted for as a consolidated subsidiary of Toyota Motor Corporation. The acquisition was accounted for under the acquisition method. Acquisition-related costs were accounted as expense when incurred, and the estimated fair values of the assets acquired, liabilities assumed and noncontrolling interests as of the date of the acquisition of control are immaterial in value. The amount of sales of Misawa Homes Co., Ltd. after the date of the acquisition of control, which is included in “Sales of products” of Toyota’s consolidated statements of income for fiscal 2017, is ¥130,046 million. Misawa Homes’ net income does not have a material effect on net income attributable to Toyota Motor Corporation in term of monetary value. In addition to the above, Toyota made several acquisitions and dispositions during the years ended March 31, 2016, 2017 and 2018, however the assets and liabilities acquired or transferred were not material. |
Marketable securities and other
Marketable securities and other securities investments | 12 Months Ended |
Mar. 31, 2018 | |
Marketable securities and other securities investments | 5. Marketable securities and other securities investments: Marketable securities and other securities investments include public and corporate bonds and common stocks for which the aggregate cost, gross unrealized gains and losses and fair value are as follows: Yen in millions March 31, 2017 Cost Gross Gross Fair value Available-for-sale Public and corporate bonds 5,789,221 145,640 49,030 5,885,831 Common stocks 668,345 2,018,910 321 2,686,934 Other 819,514 9,724 2,670 826,568 Total 7,277,080 2,174,274 52,021 9,399,333 Securities not practicable to determine fair value Public and corporate bonds 25,257 Common stocks 76,936 Total 102,193 Yen in millions March 31, 2018 Cost Gross Gross Fair value Available-for-sale Public and corporate bonds 6,276,811 150,198 118,275 6,308,734 Common stocks 676,959 1,910,767 5,611 2,582,115 Other 730,334 8,058 1,413 736,979 Total 7,684,104 2,069,023 125,299 9,627,828 Securities not practicable to determine fair value Public and corporate bonds 29,980 Common stocks 109,875 Total 139,855 Japanese bonds and foreign bonds including U.S., European and other bonds represent 28% and 72% (as of March 31, 2017) and 16% and 84% (as of March 31, 2018) of public and corporate bonds included in available-for-sale, available-for-sale Unrealized losses continuing over a 12 month period or more in the aggregate were not material as of March 31, 2017 and 2018. As of March 31, 2017 and 2018, maturities of public and corporate bonds included in available-for-sale Proceeds from sales of available-for-sale During the years ended March 31, 2016, 2017 and 2018, Toyota recognized impairment losses on available-for-sale In the ordinary course of business, Toyota maintains long-term investment securities, included in “Marketable securities and other securities investments” and issued by a number of non-public |
Finance receivables
Finance receivables | 12 Months Ended |
Mar. 31, 2018 | |
Finance receivables | 6. Finance receivables: Finance receivables consist of the following: Yen in millions March 31, 2017 2018 Retail 11,453,352 11,995,174 Finance leases 1,265,882 1,460,600 Wholesale and other dealer loans 3,281,142 3,281,427 16,000,376 16,737,201 Deferred origination costs 172,298 181,764 Unearned income (804,591 ) (919,967 ) Allowance for credit losses Retail (104,354 ) (103,457 ) Finance leases (23,962 ) (28,817 ) Wholesale and other dealer loans (30,896 ) (36,800 ) Total allowance for credit losses (159,212 ) (169,074 ) Total finance receivables, net 15,208,871 15,829,924 Less - Current portion (6,196,649 ) (6,348,306 ) Noncurrent finance receivables, net 9,012,222 9,481,618 Finance receivables were geographically distributed as follows: in North America 59.1%, in Asia 11.3%, in Europe 10.3%, in Japan 8.1% and in Other 11.2% as of March 31, 2017, and in North America 55.7%, in Asia 12.3%, in Europe 12.1%, in Japan 8.2% and in Other 11.7% as of March 31, 2018. The contractual maturities of retail receivables, the future minimum lease payments on finance leases and the contractual maturities of wholesale and other dealer loans at March 31, 2018 are summarized as follows: Yen in millions Years ending March 31, Retail Finance Wholesale 2019 3,887,959 370,916 2,431,231 2020 2,870,540 293,371 234,874 2021 2,269,797 228,764 140,295 2022 1,569,215 103,796 162,198 2023 884,871 37,134 121,654 Thereafter 512,792 5,122 191,175 11,995,174 1,039,103 3,281,427 Finance leases consist of the following: Yen in millions March 31, 2017 2018 Minimum lease payments 889,522 1,039,103 Estimated unguaranteed residual values 376,360 421,497 1,265,882 1,460,600 Deferred origination costs 5,809 10,411 Less - Unearned income (103,518 ) (120,884 ) Less - Allowance for credit losses (23,962 ) (28,817 ) Finance leases, net 1,144,211 1,321,310 Toyota is exposed to credit risk on Toyota’s finance receivables. Credit risk is the risk of loss arising from the failure of customers or dealers to meet the terms of their contracts with Toyota or otherwise fail to perform as agreed. Toyota estimates allowance for credit losses by variety of credit-risk evaluation process to cover probable and estimable losses above. The table below shows the amount of the finance receivables segregated into aging categories based on the number of days outstanding as of March 31, 2017 and 2018: Yen in millions March 31, 2017 Retail Finance Wholesale Real estate Working Current 11,264,660 1,255,626 1,707,432 848,757 722,697 30-59 125,626 5,114 1,327 — 405 60-89 29,321 1,321 — — — 90 days or greater past due 33,745 3,821 — 266 258 Total 11,453,352 1,265,882 1,708,759 849,023 723,360 Yen in millions March 31, 2018 Retail Finance Wholesale Real estate Working Current 11,802,032 1,448,989 1,721,225 823,007 731,877 30-59 127,830 5,741 138 — — 60-89 32,408 1,760 5,112 — — 90 days or greater past due 32,904 4,110 — 65 3 Total 11,995,174 1,460,600 1,726,475 823,072 731,880 The tables below show the recorded investment for each credit quality of the finance receivable within the wholesale and other dealer loan receivables portfolio segment in the United States and other regions as of March 31, 2017 and 2018: United States The wholesale and other dealer loan receivables portfolio segment is primarily segregated into credit qualities below based on internal risk assessments by dealers. Performing: Account not classified as either Credit Watch, At Risk or Default Credit Watch: Account designated for elevated attention At Risk: Account where there is an increased likelihood that default may exist based on qualitative and quantitative factors Default: Account is not currently meeting contractual obligations or we have temporarily waived certain contractual requirements Yen in millions March 31, 2017 Wholesale Real estate Working capital Total Performing 1,076,164 449,884 233,677 1,759,725 Credit Watch 142,336 68,726 16,049 227,111 At Risk 1,286 5,071 561 6,918 Default 8,791 5,079 544 14,414 Total 1,228,577 528,760 250,831 2,008,168 Yen in millions March 31, 2018 Wholesale Real estate Working capital Total Performing 1,005,030 432,397 225,442 1,662,869 Credit Watch 99,547 51,420 10,730 161,697 At Risk 7,968 3,081 3,506 14,555 Default 4,356 4,993 2,231 11,580 Total 1,116,901 491,891 241,909 1,850,701 Other regions Credit qualities of the wholesale and other dealer loan receivables portfolio segment in other regions are also monitored based on internal risk assessments by dealers on a consistent basis as in the United States. These accounts classified as “Credit Watch” or “At Risk” were not significant in other regions, and consequently the tables below summarize information for two categories, “Performing” and “Default”. Yen in millions March 31, 2017 Wholesale Real estate Working capital Total Performing 460,308 316,008 472,198 1,248,514 Default 19,874 4,255 331 24,460 Total 480,182 320,263 472,529 1,272,974 Yen in millions March 31, 2018 Wholesale Real estate Working capital Total Performing 585,760 323,581 489,801 1,399,142 Default 23,814 7,600 170 31,584 Total 609,574 331,181 489,971 1,430,726 The tables below summarize information about impaired finance receivables: Yen in millions Recorded investment Unpaid principal balance Individually evaluated allowance March 31, March 31, March 31, 2017 2018 2017 2018 2017 2018 Impaired account balances individually evaluated for impairment with an allowance: Wholesale 10,667 11,582 10,667 11,582 1,373 1,525 Real estate 10,986 9,353 10,986 9,353 1,596 588 Working capital 3,793 5,858 3,793 5,858 1,291 5,429 Total 25,446 26,793 25,446 26,793 4,260 7,542 Impaired account balances individually evaluated for impairment without an allowance: Wholesale 15,033 8,818 15,033 8,818 Real estate 11,780 15,086 11,780 15,086 Working capital — 2,337 — 2,337 Total 26,813 26,241 26,813 26,241 Impaired account balances aggregated and evaluated for impairment: Retail 27,269 27,151 26,597 26,418 Finance leases 66 100 54 74 Total 27,335 27,251 26,651 26,492 Total impaired account balances: Retail 27,269 27,151 26,597 26,418 Finance leases 66 100 54 74 Wholesale 25,700 20,400 25,700 20,400 Real estate 22,766 24,439 22,766 24,439 Working capital 3,793 8,195 3,793 8,195 Total 79,594 80,285 78,910 79,526 Yen in millions Average impaired finance receivables For the years ended March 31, 2017 2018 Total impaired account balances: Retail 26,628 27,664 Finance leases 76 83 Wholesale 26,306 23,171 Real estate 22,482 22,831 Working capital 4,208 5,818 Total 79,700 79,567 For the years ended March 31, 2017 and 2018, interest income on impaired finance receivables was not material. The amount of finance receivables modified as a troubled debt restructuring for the year ended March 31, 2018 was not significant for all classes of finance receivables. Finance receivables modified as troubled debt restructurings for the year ended March 31, 2018 and for which there was a payment default were not significant for all classes of such receivables. |
Other receivables
Other receivables | 12 Months Ended |
Mar. 31, 2018 | |
Other receivables | 7. Other receivables: Other receivables relate to arrangements with certain component manufacturers whereby Toyota procures inventory for these component manufactures and is reimbursed for the related purchases. |
Inventories
Inventories | 12 Months Ended |
Mar. 31, 2018 | |
Inventories | 8. Inventories: Inventories consist of the following: Yen in millions March 31, 2017 2018 Finished goods 1,552,823 1,683,694 Raw materials 413,049 435,360 Work in process 309,387 304,929 Supplies and other 113,358 115,806 Total 2,388,617 2,539,789 |
Vehicles and equipment on opera
Vehicles and equipment on operating leases | 12 Months Ended |
Mar. 31, 2018 | |
Vehicles and equipment on operating leases | 9. Vehicles and equipment on operating leases: Vehicles and equipment on operating leases consist of the following: Yen in millions March 31, 2017 2018 Vehicles 6,105,527 6,124,699 Equipment 13,096 13,373 Less - Deferred income and other (152,044 ) (203,679 ) 5,966,579 5,934,393 Less - Accumulated depreciation (1,263,774 ) (1,352,840 ) Less - Allowance for credit losses (18,889 ) (15,013 ) Vehicles and equipment on operating leases, net 4,683,916 4,566,540 Rental income from vehicles and equipment on operating leases was ¥891,733 million, ¥850,210 million and ¥927,443 million for the years ended March 31, 2016, 2017 and 2018, respectively. Future minimum rentals from vehicles and equipment on operating leases are due in installments as follows: Years ending March 31, Yen in millions 2019 769,926 2020 490,182 2021 221,216 2022 46,818 2023 11,675 Thereafter 1,478 Total minimum future rentals 1,541,295 The future minimum rentals as shown above should not be considered indicative of future cash collections. |
Allowance for doubtful accounts
Allowance for doubtful accounts and credit losses | 12 Months Ended |
Mar. 31, 2018 | |
Allowance for doubtful accounts and credit losses | 10. Allowance for doubtful accounts and credit losses: The net changes in the allowance for doubtful accounts relating to trade accounts and notes receivable for the years ended March 31, 2016, 2017 and 2018 are as follows: Yen in millions For the years ended March 31, 2016 2017 2018 Allowance for doubtful accounts at beginning of year 50,410 94,853 100,712 Provision for doubtful accounts, net of reversal 69,029 6,519 (74 ) Write-offs (20,649 ) (3,839 ) (2,374 ) Other (3,937 ) 3,179 326 Allowance for doubtful accounts at end of year 94,853 100,712 98,590 “Other” includes the impact of currency translation adjustments for the years ended March 31, 2016, 2017 and 2018. A portion of the allowance for doubtful accounts balance at March 31, 2017 and 2018 totaling ¥50,602 million and ¥72,665 million, respectively, is attributed to certain non-current The net changes in the allowance for credit losses relating to finance receivables and vehicles and equipment on operating leases for the years ended March 31, 2016, 2017 and 2018 are as follows: Yen in millions For the years ended March 31, 2016 2017 2018 Allowance for credit losses at beginning of year 178,038 167,330 178,101 Provision for credit losses, net of reversal 90,236 92,147 76,143 Charge-offs (102,948 ) (99,550 ) (96,444 ) Recoveries 22,356 21,757 25,344 Other (20,352 ) (3,583 ) 943 Allowance for credit losses at end of year 167,330 178,101 184,087 “Other” primarily includes the impact of currency translation adjustments for the years ended March 31, 2016, 2017 and 2018. The net changes in the allowance for credit losses above relating to retail receivables portfolio segment, finance lease receivables portfolio segment and wholesale and other dealer loan receivables portfolio segment for the years ended March 31, 2016, 2017 and 2018 are as follows: Yen in millions For the year ended March 31, 2016 Retail Finance leases Wholesale and Allowance for credit losses at beginning of year 109,316 29,303 30,053 Provision for credit losses, net of reversal 65,677 1,742 4,962 Charge-offs (83,116 ) (3,833 ) (667 ) Recoveries 18,999 380 230 Other (12,023 ) (2,992 ) (3,750 ) Allowance for credit losses at end of year 98,853 24,600 30,828 Yen in millions For the year ended March 31, 2017 Retail Finance leases Wholesale and Allowance for credit losses at beginning of year 98,853 24,600 30,828 Provision for credit losses, net of reversal 67,433 1,657 854 Charge-offs (78,114 ) (2,007 ) (324 ) Recoveries 18,282 194 160 Other (2,100 ) (482 ) (622 ) Allowance for credit losses at end of year 104,354 23,962 30,896 Yen in millions For the year ended March 31, 2018 Retail Finance leases Wholesale and Allowance for credit losses at beginning of year 104,354 23,962 30,896 Provision for credit losses, net of reversal 52,891 7,115 6,497 Charge-offs (74,868 ) (2,708 ) (823 ) Recoveries 20,511 315 59 Other 569 133 171 Allowance for credit losses at end of year 103,457 28,817 36,800 |
Affiliated companies and variab
Affiliated companies and variable interest entities | 12 Months Ended |
Mar. 31, 2018 | |
Affiliated companies and variable interest entities | 11. Affiliated companies and variable interest entities: Investments in and transactions with affiliated companies - Summarized financial information for affiliated companies accounted for by the equity method is shown below: Yen in millions March 31, 2017 2018 Current assets 11,795,296 12,766,962 Noncurrent assets 11,003,432 12,326,689 Total assets 22,798,728 25,093,651 Current liabilities 7,419,176 8,061,342 Long-term liabilities and noncontrolling interests 5,423,938 5,940,549 Affiliated companies accounted for by the equity method shareholders’ equity 9,955,614 11,091,760 Total liabilities and shareholders’ equity 22,798,728 25,093,651 Toyota’s share of affiliated companies accounted for by the equity method shareholders’ equity 2,845,422 3,162,711 Number of affiliated companies accounted for by the equity method at end of period 54 57 Yen in millions For the years ended March 31, 2016 2017 2018 Net revenues 31,037,029 30,309,263 30,680,535 Gross profit 3,852,899 3,644,267 4,065,344 Net income attributable to affiliated companies accounted for by the equity method 957,742 1,099,080 1,344,687 Equity in earnings of affiliated companies attributable to Toyota Motor Corporation 329,099 362,060 470,083 Entities comprising a significant portion of Toyota’s investment in affiliated companies and percentage of ownership are presented below: Percentage of ownership March 31, Name of affiliated companies 2017 2018 Denso Corporation 24.9 % 24.4 % Toyota Industries Corporation 24.9 % 24.9 % Aisin Seiki Co., Ltd. 24.1 % 24.9 % Toyota Tsusho Corporation 22.0 % 22.0 % Toyoda Gosei Co., Ltd. 43.0 % 43.0 % Certain affiliated companies accounted for by the equity method with carrying amounts of ¥2,126,128 million and ¥2,334,642 million at March 31, 2017 and 2018, respectively, were quoted on various established markets at an aggregate value of ¥2,894,106 million and ¥3,145,940 million, respectively. Toyota evaluated its investments in affiliated companies, considering the length of time and the extent to which the quoted market prices have been less than the carrying amounts, the financial condition and near-term prospects of the affiliated companies and Toyota’s ability and intent to retain those investments in the companies for a period of time. Toyota did not recognize any impairment loss for the years ended March 31, 2016, 2017 and 2018. Account balances and transactions with affiliated companies are presented below: Yen in millions March 31, 2017 2018 Trade accounts and notes receivable, and other receivables 289,406 301,335 Accounts payable and other payables 691,173 736,023 Yen in millions For the years ended March 31, 2016 2017 2018 Net revenues 1,804,493 1,914,318 2,004,632 Purchases 4,359,854 5,357,682 5,749,430 Dividends from affiliated companies accounted for by the equity method for the years ended March 31, 2016, 2017 and 2018 were ¥186,212 million, ¥180,326 million and ¥196,403 million, respectively. Toyota does not have any significant related party transactions other than transactions with affiliated companies in the ordinary course of business. Variable Interest Entities - Toyota enters into securitization transactions using special-purpose entities, that are considered variable interest entities (“VIEs”). Although the finance receivables and vehicles on operating leases related to securitization transactions have been legally sold to the VIEs, Toyota has both the power to direct the activities of the VIEs that most significantly impact the VIEs’ economic performance and the obligation to absorb losses of the VIEs or the right to receive benefits from the VIEs that could potentially be significant to the VIEs. As a result, Toyota is considered the primary beneficiary of the VIEs and therefore consolidates the VIEs. Related to securitization transactions, ¥2,092,311 million and ¥1,964,350 million retail finance receivables, ¥557,383 million and ¥618,787 million vehicles on operating leases, ¥151,943 million and ¥146,828 million restricted cash and ¥2,067,221 million and ¥1,952,973 million secured debt were included in Toyota’s consolidated financial statements as of March 31, 2017 and 2018, respectively. The creditors of the VIEs do not have recourse to Toyota’s general credit with the exception of debts guaranteed by Toyota. Risks to which Toyota is exposed including credit, interest rate, and/or prepayment risks are not incremental compared with the situation before Toyota enters into securitization transactions. Toyota has variable interests in investment trusts that are VIEs due mainly to insufficient equity within the structure but determined that it was not the primary beneficiary due to lack of the power to direct the activities of the VIEs that most significantly impact the VIEs’ economic performance and, therefore, does not consolidate the VIEs. Investments in the trusts are held at fair value and are included in “Marketable securities and other securities investments” in the accompanying consolidated balance sheets. As of March 31, 2018, the maximum exposure to loss is limited to the carrying value of its investment in the trusts, which totaled ¥446,778 million, compared to ¥539,862 million as of March 31, 2017. Toyota does not provide support that is not contractually required to the trusts. As for VIEs other than those specified above, neither the aggregate size nor Toyota’s involvements are material to Toyota’s consolidated financial statements. |
Short-term borrowings and long-
Short-term borrowings and long-term debt | 12 Months Ended |
Mar. 31, 2018 | |
Short-term borrowings and long-term debt | 12. Short-term borrowings and long-term debt: Short-term borrowings at March 31, 2017 and 2018 consist of the following: Yen in millions March 31, 2017 2018 Loans, principally from banks, with a weighted-average interest at March 31, 2017 and March 31, 2018 of 1.86% and of 2.14% per annum, respectively 1,125,324 1,254,444 Commercial paper with a weighted-average interest at March 31, 2017 and March 31, 2018 of 1.08% and of 1.65% per annum, respectively 3,828,358 3,900,469 4,953,682 5,154,913 As of March 31, 2018, Toyota has unused short-term lines of credit amounting to ¥1,712,315 million of which ¥245,797 million related to commercial paper programs. Under these programs, Toyota is authorized to obtain short-term financing at prevailing interest rates for periods not in excess of 360 days. Long-term debt at March 31, 2017 and 2018 comprises the following: Yen in millions March 31, 2017 2018 Unsecured loans, representing obligations principally to banks, due 2017 to 2036 in 2017 and due 2018 to 2036 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 2.44% and of 2.70% per annum, respectively 3,318,865 3,215,309 Secured loans, representing obligations principally to finance receivables securitization due 2017 to 2030 in 2017 and due 2018 to 2030 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 1.43% and of 1.99% per annum, respectively 2,080,362 1,963,057 Medium-term notes of consolidated subsidiaries, due 2017 to 2046 in 2017 and due 2018 to 2046 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 2.12% and of 2.18% per annum, respectively 6,923,511 6,994,629 Unsecured notes of parent company, due 2017 to 2036 in 2017 and due 2018 to 2037 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 1.35% and of 0.94% per annum, respectively 370,000 370,000 Unsecured notes of consolidated subsidiaries, due 2017 to 2032 in 2017 and due 2018 to 2031 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 2.17% and of 2.20% per annum, respectively 1,430,022 1,569,517 Secured notes of consolidated subsidiaries, due 2017 to 2020 in 2017 and due 2018 to 2021 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 8.14% and of 7.90% per annum, respectively 57,036 59,513 Long-term capital lease obligations, due 2017 to 2035 in 2017 and due 2018 to 2035 in 2018 with interest ranging from 0.37% to 14.73% per annum in 2017 and from 0.37% to 14.73% per annum in 2018 22,249 20,626 14,202,045 14,192,651 Less - Current portion due within one year (4,290,449 ) (4,186,277 ) 9,911,596 10,006,374 As of March 31, 2018, approximately 48%, 11%, 10%, 9%, 6% and 16% of long-term debt are denominated in U.S. dollars, Japanese yen, euros, Australian dollars, Canadian dollars and other currencies, respectively. As of March 31, 2018, property, plant and equipment with a book value of ¥658,675 million and other assets aggregating ¥2,052,752 million were pledged as collateral mainly for certain debt obligations of subsidiaries. These other assets principally consist of securitized finance receivables. The aggregate amounts of annual maturities of long-term debt during the next five years are as follows: Years ending March 31, Yen in millions 2019 4,186,277 2020 2,848,360 2021 2,398,498 2022 2,236,208 2023 1,612,872 Standard agreements with certain banks include provisions that collateral (including sums on deposit with such banks) or guarantees will be furnished upon the banks’ request and that any collateral furnished, pursuant to such agreements or otherwise, will be applicable to all present or future indebtedness to such banks. During the year ended March 31, 2018, Toyota has not received any significant requests from these banks. As of March 31, 2018, Toyota has unused long-term lines of credit amounting to ¥6,728,922 million. Interest expense during the years ended March 31, 2016, 2017 and 2018 were ¥377,310 million, ¥352,691 million and ¥415,094 million, respectively. Interest expense related to the financial services business is included in “Cost of financing operations” in the accompanying consolidated statements of income. |
Product warranties and recalls
Product warranties and recalls and other safety measures | 12 Months Ended |
Mar. 31, 2018 | |
Product warranties and recalls and other safety measures | 13. Product warranties and recalls and other safety measures: Toyota provides product warranties for certain defects mainly resulting from manufacturing based on warranty contracts with its customers at the time of sale of products. Toyota accrues estimated warranty costs to be incurred in the future in accordance with the warranty contracts. In addition to product warranties, Toyota initiates recalls and other safety measures to repair or to replace parts which might be expected to fail from products safety perspectives or customer satisfaction standpoints. Toyota accrues for costs of recalls and other safety measures based on the amount estimated from historical experience. Liabilities for product warranties and liabilities for recalls and other safety measures have been combined into a single table showing an aggregate liability for quality assurances due to the fact that both are liabilities for costs to repair or replace defects of vehicles and the amounts incurred for recalls and other safety measures may affect the amounts incurred for product warranties and vice versa. Liabilities for quality assurances are included in “Accrued expenses” in the consolidated balance sheets. The net changes in liabilities for quality assurances above for the years ended March 31, 2016, 2017 and 2018 consist of the following: Yen in millions For the years ended March 31, 2016 2017 2018 Liabilities for quality assurances at beginning of year 1,328,916 1,403,764 1,696,938 Payments made during year (501,073 ) (604,853 ) (586,943 ) Provision for quality assurances 636,719 919,086 649,377 Changes relating to pre-existing (39,225 ) (24,147 ) (56,769 ) Other (21,573 ) 3,088 (291 ) Liabilities for quality assurances at end of year 1,403,764 1,696,938 1,702,312 “Other” primarily includes the impact of currency translation adjustments and the impact of consolidation and deconsolidation of certain entities due to changes in ownership interest. The table below shows the net changes in liabilities for recalls and other safety measures which are comprised in liabilities for quality assurances above for the years ended March 31, 2016, 2017 and 2018. Yen in millions For the years ended March 31, 2016 2017 2018 Liabilities for recalls and other safety measures at beginning of year 755,050 925,475 1,275,200 Payments made during year (347,861 ) (444,416 ) (456,177 ) Provision for recalls and other safety measures 524,100 794,009 454,391 Other (5,814 ) 132 1,842 Liabilities for recalls and other safety measures at end of year 925,475 1,275,200 1,275,256 |
Other payables
Other payables | 12 Months Ended |
Mar. 31, 2018 | |
Other payables | 14. Other payables: Other payables are mainly related to purchases of property, plant and equipment and non-manufacturing |
Income taxes
Income taxes | 12 Months Ended |
Mar. 31, 2018 | |
Income taxes | 15. Income taxes: The components of income before income taxes comprise the following: Yen in millions For the years ended March 31, 2016 2017 2018 Income before income taxes: Parent company and domestic subsidiaries 1,834,413 1,423,208 1,880,971 Foreign subsidiaries 1,148,968 770,617 739,458 2,983,381 2,193,825 2,620,429 The provision for income taxes consists of the following: Yen in millions For the years ended March 31, 2016 2017 2018 Current income tax expense: Parent company and domestic subsidiaries 591,868 435,560 565,998 Foreign subsidiaries 253,512 246,639 176,369 Total current 845,380 682,199 742,367 Deferred income tax expense (benefit): Parent company and domestic subsidiaries (40,934 ) (21,756 ) 45,097 Foreign subsidiaries 73,823 (31,543 ) (283,058 ) Total deferred 32,889 (53,299 ) (237,961 ) Total provision 878,269 628,900 504,406 Net deferred liabilities as of March 31, 2018 decreased by ¥218,323 million and provision for income taxes for the year ended March 31, 2018 decreased by ¥249,694 million, respectively, resulting from the Tax Cuts and Jobs Act of 2017 of the United States. Toyota is subject to a number of different income taxes which, in the aggregate, indicate a statutory rate in Japan of approximately 32.9%, 31.1% and 31.1% for the years ended March 31, 2016, 2017 and 2018, respectively. The statutory tax rates in effect for the year in which the temporary differences are expected to reverse are used to calculate the tax effects of temporary differences which are expected to reverse in the future years. Reconciliation of the differences between the statutory tax rate and the effective income tax rate is as follows: For the years ended March 31, 2016 2017 2018 Statutory tax rate 32.9 % 31.1 % 31.1 % Increase (reduction) in taxes resulting from: Non-deductible 0.3 0.4 0.4 Deferred tax liabilities on undistributed earnings of foreign subsidiaries 1.0 1.3 1.1 Deferred tax liabilities on undistributed earnings of affiliated companies accounted for by the equity method 2.4 3.3 3.8 Valuation allowance (0.4 ) (0.6 ) (2.0 ) Tax credits (4.7 ) (4.8 ) (4.3 ) The difference between the statutory tax rate in Japan and that of foreign subsidiaries (1.3 ) (1.9 ) (1.5 ) Unrecognized tax benefits adjustments 0.2 0.4 0.2 Revision to reduce deferred tax assets and liabilities at the fiscal year-end (0.5 ) — — Effect of the Tax Cuts and Jobs Act of 2017 of the United States — — (9.5 ) Other (0.5 ) (0.5 ) (0.1 ) Effective income tax rate 29.4 % 28.7 % 19.2 % Significant components of deferred tax assets and liabilities are as follows: Yen in millions March 31, 2017 2018 Deferred tax assets Accrued pension and severance costs 219,465 199,366 Accrued expenses and liabilities for quality assurances 644,936 609,257 Other accrued employees’ compensation 114,752 112,316 Operating loss carryforwards for tax purposes 76,317 203,897 Allowance for doubtful accounts and credit losses 82,916 63,223 Property, plant and equipment and other assets 234,372 249,320 Other 335,992 348,852 Gross deferred tax assets 1,708,750 1,786,231 Less - Valuation allowance (146,623 ) (93,814 ) Total deferred tax assets 1,562,127 1,692,417 Deferred tax liabilities Unrealized gains on securities, net (692,962 ) (635,292 ) Undistributed earnings of foreign subsidiaries (28,544 ) (29,967 ) Undistributed earnings of affiliated companies accounted for by the equity method (709,094 ) (794,485 ) Basis difference of acquired assets (31,861 ) (30,768 ) Lease transactions (973,000 ) (751,292 ) Other (46,407 ) (74,658 ) Gross deferred tax liabilities (2,481,868 ) (2,316,462 ) Net deferred tax liability (919,741 ) (624,045 ) The deferred tax assets and liabilities above that comprise the net deferred tax liability are included in the consolidated balance sheets as follows: Yen in millions March 31, 2017 2018 Deferred tax assets Investments and other assets - Other 503,985 494,120 Deferred tax liabilities Deferred income taxes (Long-term liabilities) (1,423,726 ) (1,118,165 ) Net deferred tax liability (919,741 ) (624,045 ) The factors used to assess the likelihood of realization of the deferred tax assets are the future reversal of existing taxable temporary differences, the future taxable income and available tax planning strategies that are prudent and feasible. All available evidence, both positive and negative, is considered to determine whether, based on the weight of that evidence, a valuation allowance is needed for deferred tax assets which are not more-likely-than-not The accounting for deferred tax assets represents Toyota’s current best estimate based on all available evidence. Unanticipated events or changes could result in re-evaluating Operating loss carryforwards for tax purposes as of March 31, 2018 in Japan and foreign countries were ¥26,712 million and ¥866,392 million, respectively, and are available as an offset against future taxable income. The majority of these carryforwards in Japan and foreign countries expire in years 2019 to 2027 and expire in years 2019 to 2038, respectively. Tax credit carryforwards as of March 31, 2018 in Japan and foreign countries were ¥2,847 million and ¥55,939 million, respectively, and the majority of these carryforwards in Japan and foreign countries expire in years 2019 to 2021 and expire in years 2019 to 2038, respectively. The valuation allowance mainly relates to deferred tax assets of operating loss and foreign tax credit carryforwards for tax purposes that are not more-likely-than-not Yen in millions For the years ended March 31, 2016 2017 2018 Valuation allowance at beginning of year 169,811 151,665 146,623 Additions 33,243 27,147 16,106 Deductions (43,723 ) (37,891 ) (74,435 ) Other (7,666 ) 5,702 5,520 Valuation allowance at end of year 151,665 146,623 93,814 “Other” includes the impact of consolidation and deconsolidation of certain entities due to changes in ownership interest and currency translation adjustments during the years ended March 31, 2016, 2017 and 2018. Because management intends to reinvest undistributed earnings of foreign subsidiaries to the extent not expected to be remitted in the foreseeable future, management has made no provision for income taxes on those undistributed earnings aggregating ¥3,623,657 million as of March 31, 2018. Toyota estimates an additional tax provision of ¥139,287 million would be required if the full amount of those undistributed earnings were remitted. A summary of the gross unrecognized tax benefits changes for the years ended March 31, 2016, 2017 and 2018 is as follows: Yen in millions For the years ended March 31, 2016 2017 2018 Balance at beginning of year 13,644 19,250 21,553 Additions based on tax positions related to the current year 1,001 8,187 612 Additions for tax positions of prior years 6,378 6,076 13,954 Reductions for tax positions of prior years (77 ) (5,593 ) (13,217 ) Reductions for tax positions related to lapse of statute of limitations (7 ) (9 ) — Reductions for settlements (427 ) (6,317 ) (26 ) Other (1,262 ) (41 ) (1,312 ) Balance at end of year 19,250 21,553 21,564 The amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was not material at March 31, 2016, 2017 and 2018, respectively. Toyota does not believe it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within the next twelve months. Interest and penalties related to income tax liabilities are included in “Other income (loss), net”. The amounts of interest and penalties accrued as of and recognized for the years ended March 31, 2016, 2017 and 2018, were not material. Toyota remains subject to income tax examination for the tax returns related to the years beginning on and after April 1, 2011 and April 1, 2002, with various tax jurisdictions in Japan and foreign countries, respectively. |
Class Shares
Class Shares | 12 Months Ended |
Mar. 31, 2018 | |
Class Shares | 16. Class Shares: TMC issued First Series Model AA Class Shares (the “Model AA Class Shares”) on July 24, 2015. Presented below is additional information regarding the Model AA Class Shares: Total number of shares issued : 47,100,000 shares Issue price : 10,598 yen per share Purchase price : 10,121.09 yen per share Voting rights : Model AA Class Shares shall have voting rights. The number of shares constituting one unit with respect to Model AA Class Shares shall be 100. Restrictions on transfer : Model AA Class Shares shall have restrictions on transfer. Dividends : (1) If the record date falls in the fiscal year ending on March 31, 2016: 0.5% of the issue price (2) If the record date falls in the fiscal year ending on March 31, 2017 through March 31, 2020: the annual dividend rate for the previous fiscal year plus 0.5% of the issue price (3) If the record date falls in the fiscal year ending on March 31, 2021 or later: 2.5% of the issue price Shareholder’s right : (1) Shareholder’s conversion right into Common Shares Shareholders of the Model AA Class Shares may demand TMC to acquire all or a part of their Model AA Class Shares in exchange for Common Shares on the first business day of April and October of every year, starting October 1, 2020. (2) Shareholder’s cash put option Shareholders of the Model AA Class Shares may demand TMC to acquire all or a part of their Model AA Class Shares in exchange for cash on the last business day of March, June, September and December of each year, starting on September 1, 2020. TMC’s right : TMC may acquire, on or after April 2, 2021, all of the outstanding Model AA Class Shares in exchange for cash. The Model AA Class Shares will not be treated as shareholders’ equity because the shareholders of the Model AA Class Shares will have cash put options and hence, the Model AA Class Shares will be reported as mezzanine equity, a separate line item between liabilities and shareholders’ equity. Unpaid dividends included in mezzanine equity as of March 31, 2017 and 2018 were ¥2,473 million and ¥3,721 million, respectively. The difference between the issuance amount and initial carrying amount of the mezzanine equity is adjusted for accretion of the mezzanine equity over a period of time from the issuance date until the Class Shares can first be redeemed. |
Shareholders' equity
Shareholders' equity | 12 Months Ended |
Mar. 31, 2018 | |
Shareholders' equity | 17. Shareholders’ equity: Changes in the number of shares of common stock issued have resulted from the following: For the years ended March 31, 2016 2017 2018 Common stock issued Balance at beginning of year 3,417,997,492 3,337,997,492 3,262,997,492 Issuance during the year — — — Purchase and retirement (80,000,000 ) (75,000,000 ) — Balance at end of year 3,337,997,492 3,262,997,492 3,262,997,492 The Companies Act provides that an amount equal to 10% of distributions from surplus paid by the parent company and its Japanese subsidiaries be appropriated as a capital reserve or a retained earnings reserve. No further appropriations are required when the total amount of the capital reserve and the retained earnings reserve reaches 25% of stated capital. The retained earnings reserve included in retained earnings as of March 31, 2017 and 2018 were ¥190,227 million and ¥194,890 million, respectively. The Companies Act provides that the retained earnings reserve of the parent company and its Japanese subsidiaries is restricted and unable to be used for dividend payments, and is excluded from the calculation of the profit available for dividend. The amounts of statutory retained earnings of the parent company available for dividend payments to shareholders were ¥8,470,887 million and ¥9,256,045 million as of March 31, 2017 and 2018, respectively. In accordance with customary practice in Japan, the distributions from surplus are not accrued in the financial statements for the corresponding period, but are recorded in the subsequent accounting period after shareholders’ approval has been obtained. Retained earnings at March 31, 2018 include amounts representing year-end Retained earnings at March 31, 2018 include ¥2,429,170 million relating to equity in undistributed earnings of affiliated companies accounted for by the equity method. The repurchase, reissuance and retirement of treasury stock for the years ended March 31, 2016, 2017 and 2018 are as follows: For the year ended March 31, 2016 Repurchase of treasury stock Reason for repurchasing treasury stock - The repurchase was made to avoid the dilution of common share value as a result of the issuance of the First Series Model AA Class Shares. Details of matters relating to repurchase - Number of common shares repurchased 47,100,000 shares Total purchase price for repurchase of shares ¥349,935 million Reason for repurchasing treasury stock - The repurchase was made to return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view of the business environment. Details of matters relating to repurchase - Number of common shares repurchased 62,942,900 shares Total purchase price for repurchase of shares ¥432,692 million Retirement of treasury stock Reason for retiring treasury stock - The retirement was made to relieve concerns regarding the dilution of common share value due to reissuanceof treasury stock in the future. Details of matters relating to retirement - Number of common shares retired 80,000,000 shares The amount on retirement of treasury stock was treated as a reduction in additional paid-in paid-in For the year ended March 31, 2017 Repurchase of treasury stock Reason for repurchasing treasury stock - The repurchase was made to return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view of the business environment. Details of matters relating to repurchase - Number of common shares repurchased 116,555,700 shares Total purchase price for repurchase of shares ¥699,986 million Reissuance of treasury stock Reason for reissuing treasury stock and details of matters relating to reissuance - On August 1, 2016, the parent company implemented share exchange as a result of which the parent company became a wholly owning parent company and Daihatsu Motor Co., Ltd. (“Daihatsu”) became a wholly owned subsidiary, and the parent company acquired additional shares of Daihatsu. As a result of this share exchange, the parent company issued 52,856,096 shares of treasury stock, treasury stock decreased by ¥283,561 million and gains on disposal of treasury stock occurred in the amount of ¥27,972 million. As a result, additional paid-in paid-in Retirement of treasury stock Reason for retiring treasury stock - The retirement was made to relieve concerns regarding the dilution of common share value due to reissuanceof treasury stock in the future. Details of matters relating to retirement - Number of common shares retired 75,000,000 shares The amount on retirement of treasury stock was treated as a reduction in additional paid-in paid-in For the year ended March 31, 2018 Repurchase of treasury stock Reason for repurchasing treasury stock - The repurchase was made to return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view of the business environment. Details of matters relating to repurchase - Number of common shares repurchased 73,708,400 shares Total purchase price for repurchase of shares ¥499,989 million Reissuance of treasury stock Reason for reissuing treasury stock - On August 4, 2017, the parent company and Mazda Motor Corporation (Mazda) signed an agreement to enter a business and capital alliance, with the aim of further strengthening their lasting partnership. The parent company acquired common stock newly issued by Mazda through a third-party allotment. Mazda acquired the parent company’s shares that were equivalent in value to the Mazda shares through a disposition of treasury stock involving a third-party allotment implemented by the parent company. Details of matters relating to reissuance - Number of common shares reissued 8,293,300 shares Amount of proceeds ¥50,000 million |
Accumulated other comprehensive
Accumulated other comprehensive income | 12 Months Ended |
Mar. 31, 2018 | |
Accumulated other comprehensive income | 18. Accumulated other comprehensive income: Changes in accumulated other comprehensive income (loss) are as follows: Yen in millions Foreign Accumulated Balance at March 31, 2015 (136,090 ) 1,727,565 (113,930 ) 1,477,545 Other comprehensive income (loss) before reclassifications, net of taxes of ¥10,719 million, ¥130,092 million, ¥93,210 million and ¥234,021 million (423,404 ) (291,681 ) (214,600 ) (929,685 ) Reclassifications, net of taxes of ¥— million, ¥9,832 million, ¥(3,318) million and ¥6,514 million 28,052 (20,511 ) 5,419 12,960 Other comprehensive income (loss), net of tax (395,352 ) (312,192 ) (209,181 ) (916,725 ) Less - Other comprehensive income attributable to noncontrolling interests 32,387 9,572 7,989 49,948 Balance at March 31, 2016 (499,055 ) 1,424,945 (315,122 ) 610,768 Other comprehensive income (loss) before reclassifications, net of taxes of ¥9,240 million, ¥(9,048) million, ¥(40,099) million and ¥(39,907) million (57,926 ) 41,134 82,939 66,147 Reclassifications, net of taxes of ¥— million, ¥23,275 million, ¥(5,255) million and ¥18,020 million — (36,855 ) 10,373 (26,482 ) Other comprehensive income (loss), net of tax (57,926 ) 4,279 93,312 39,665 Less - Other comprehensive income attributable to noncontrolling interests 5,499 (12,281 ) (503 ) (7,285 ) Equity transaction with noncontrolling interests and other (8,626 ) 9,060 (2,660 ) (2,226 ) Balance at March 31, 2017 (560,108 ) 1,426,003 (224,973 ) 640,922 Other comprehensive income (loss) before reclassifications, net of taxes of ¥(3,624) million, ¥38,539 million, ¥(7,568) million and ¥27,347 million (113,942 ) (72,501 ) 15,814 (170,629 ) Reclassifications, net of taxes of ¥— million, ¥9,729 million, ¥(2,500) million and ¥7,229 million (6,664 ) (22,058 ) 6,501 (22,221 ) Other comprehensive income (loss), net of tax (120,606 ) (94,559 ) 22,315 (192,850 ) Less - Other comprehensive income attributable to noncontrolling interests 1,629 (2,022 ) (580 ) (973 ) Equity transaction with noncontrolling interests and other — 162 (11,562 ) (11,400 ) Balance at March 31, 2018 (679,085 ) 1,329,584 (214,800 ) 435,699 Reclassifications for the years ended March 31, 2016, 2017 and 2018 consist of the following: Yen in millions For the years ended March 31, Affected line items 2016 2017 2018 Foreign currency translation adjustments: 28,052 — (6,664 ) Other income (loss), net 28,052 — (6,664 ) Income before income taxes and equity in earnings of affiliated companies 28,052 — (6,664 ) Net income Unrealized gains (losses) on securities: (779 ) (24,553 ) (4,567 ) Financing operations (27,275 ) (3,572 ) (25,247 ) Foreign exchange gain (loss), net (6,185 ) (31,685 ) (1,993 ) Other income (loss), net (34,239 ) (59,810 ) (31,807 ) Income before income taxes and equity in earnings of affiliated companies 9,832 23,275 9,729 Provision for income taxes 3,896 (320 ) 20 Equity in earnings of affiliated companies (20,511 ) (36,855 ) (22,058 ) Net income Pension liability adjustments: Recognized net actuarial loss 12,971 19,432 12,914 *1 Amortization of prior service costs (4,234 ) (3,804 ) (3,913 ) *1 8,737 15,628 9,001 Income before income taxes and equity in earnings of affiliated companies (3,318 ) (5,255 ) (2,500 ) Provision for income taxes 5,419 10,373 6,501 Net income Total reclassifications, net of tax 12,960 (26,482 ) (22,221 ) Amounts of reclassifications in parentheses indicate gains in the consolidated statements of income. *1: These components are included in the computation of net periodic pension cost. See note 20 to the consolidated financial statements for additional information. |
Stock-based compensation
Stock-based compensation | 12 Months Ended |
Mar. 31, 2018 | |
Stock-based compensation | 19. Stock-based compensation: In June 1997, the parent company’s shareholders approved a stock option plan for board members. In June 2001, the shareholders approved an amendment of the plan to include both board members and key employees. Each year until June 2010, since the plans’ inception, the shareholders have approved the authorization for the grant of options for the purchase of the parent company’s common stock. Authorized shares for each year that remain ungranted are unavailable for grant in future years. Stock options granted in and after August 2006 have terms of 8 years and an exercise price equal to 1.025 times the closing price of Toyota’s common stock on the date of grant. These options generally vest 2 years from the date of grant. There were no stock-based compensation expenses for stock options as selling, general and administrative expenses for the years ended March 31, 2016, 2017 and 2018, respectively. The following table summarizes Toyota’s stock option activity: Yen Yen in Number of Weighted- Weighted- Aggregate Options outstanding at March 31, 2015 3,503,500 4,632 2.05 13,143 Granted — — Exercised (936,400 ) 5,049 Canceled (473,600 ) 6,917 Options outstanding at March 31, 2016 2,093,500 3,858 1.56 4,384 Granted — — Exercised (785,600 ) 4,006 Canceled (115,600 ) 4,682 Options outstanding at March 31, 2017 1,192,300 3,682 0.80 2,813 Granted — — Exercised (643,800 ) 3,726 Canceled (264,900 ) 4,154 Options outstanding at March 31, 2018 283,600 3,153 0.33 1,041 Options exercisable at March 31, 2016 2,093,500 3,858 1.56 4,384 Options exercisable at March 31, 2017 1,192,300 3,682 0.80 2,813 Options exercisable at March 31, 2018 283,600 3,153 0.33 1,041 The total intrinsic value of options exercised for the years ended March 31, 2016, 2017 and 2018 was ¥2,236 million, ¥1,632 million and ¥1,881 million, respectively. Cash received from the exercise of stock options for the years ended March 31, 2016, 2017 and 2018 was ¥4,728 million, ¥3,147 million and ¥2,399 million, respectively. The following table summarizes information for options outstanding and options exercisable at March 31, 2018: Outstanding Exercisable Number of Exercise price Remaining life Number of Exercise price Yen Years Yen 283,600 3,153 0.33 283,600 3,153 |
Employee benefit plans
Employee benefit plans | 12 Months Ended |
Mar. 31, 2018 | |
Employee benefit plans | 20. Employee benefit plans: Pension and severance plans - Upon terminations of employment, employees of the parent company and subsidiaries in Japan are entitled, under the retirement plans of each company, to lump-sum Effective October 1, 2004, the parent company amended its retirement plan to introduce a “point” based retirement benefit plan. Under the new plan, employees are entitled to lump-sum There are three types of “points” that vest in each year of service consisting of “service period points” which are attributed to the length of service, “job title points” which are attributed to the job title of each employee, and “performance points” which are attributed to the annual performance evaluation of each employee. Under normal circumstances, the minimum payment prior to retirement age is an amount reflecting an adjustment rate applied to represent voluntary retirement. Employees receive additional benefits upon involuntary retirement, including retirement at the age limit. Effective October 1, 2005, the parent company partly amended its retirement plan and introduced the quasi cash-balance plan under which benefits are determined based on the variable-interest crediting rate rather than the fixed-interest crediting rate as was in the pre-amended The parent company and most subsidiaries in Japan have contributory funded defined benefit pension plans, which are pursuant to the Corporate Defined Benefit Pension Plan Law (CDBPPL). The contributions to the plans are funded with several financial institutions in accordance with the applicable laws and regulations. These pension plan assets consist principally of common stocks, government bonds and insurance contracts. Most foreign subsidiaries have pension plans or severance indemnity plans covering substantially all of their employees under which the cost of benefits are currently invested or accrued. The benefits for these plans are based primarily on lengths of service and current rates of pay. Toyota uses a March 31 measurement date for its benefit plans. Information regarding Toyota’s defined benefit plans is as follows: Yen in millions March 31, Japanese plans Foreign plans 2017 2018 2017 2018 Change in benefit obligation Benefit obligation at beginning of year 1,912,156 1,930,498 963,255 1,026,024 Service cost 89,443 88,964 41,733 35,887 Interest cost 8,800 13,252 35,593 37,817 Plan participants’ contributions 923 1,266 436 912 Plan amendments (21 ) (58 ) (996 ) (12 ) Net actuarial (gain) loss (45,783 ) 35,017 22,220 66,039 Acquisition and other 30,622 18,206 (18,778 ) (26,616 ) Benefits paid (65,642 ) (67,835 ) (17,439 ) (42,070 ) Benefit obligation at end of year 1,930,498 2,019,310 1,026,024 1,097,981 Change in plan assets Fair value of plan assets at beginning of year 1,369,236 1,483,889 692,801 758,306 Actual return on plan assets 81,600 111,278 74,760 89,924 Acquisition and other 30,266 14,615 (11,960 ) (16,009 ) Employer contributions 39,692 42,095 15,925 20,961 Plan participants’ contributions 923 1,266 436 912 Benefits paid (37,828 ) (40,264 ) (13,656 ) (38,611 ) Fair value of plan assets at end of year 1,483,889 1,612,879 758,306 815,483 Funded status 446,609 406,431 267,718 282,498 Amounts recognized in the consolidated balance sheets as of March 31, 2017 and 2018 are comprised of the following: Yen in millions March 31, Japanese plans Foreign plans 2017 2018 2017 2018 Accrued expenses (Accrued pension and severance costs) 28,265 27,718 2,936 2,982 Accrued pension and severance costs 633,774 647,134 271,296 284,048 Investments and other assets - Other (Prepaid pension and severance costs) (215,430 ) (268,421 ) (6,514 ) (4,532 ) Net amount recognized 446,609 406,431 267,718 282,498 Amounts recognized in accumulated other comprehensive income (loss) as of March 31, 2017 and 2018 are comprised of the following: Yen in millions March 31, Japanese plans Foreign plans 2017 2018 2017 2018 Net actuarial loss (288,126 ) (248,791 ) (116,700 ) (119,407 ) Prior service costs 36,980 32,812 (2,151 ) (1,826 ) Net transition obligation — — — — Net amount recognized (251,146 ) (215,979 ) (118,851 ) (121,233 ) The accumulated benefit obligation for all defined benefit pension plans was ¥1,874,424 million and ¥1,959,533 million in Japanese plans, ¥957,217 million and ¥1,023,094 million in Foreign plans at March 31, 2017 and 2018, respectively. The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for which the accumulated benefit obligations exceed plan assets are as follows: Yen in millions March 31, Japanese plans Foreign plans 2017 2018 2017 2018 Projected benefit obligation 892,684 833,080 445,482 490,844 Accumulated benefit obligation 866,566 806,774 426,201 468,611 Fair value of plan assets 242,488 170,234 178,357 201,402 Components of the net periodic pension cost are as follows: Yen in millions For the years ended March 31, Japanese plans Foreign plans 2016 2017 2018 2016 2017 2018 Service cost 78,611 89,443 88,964 47,544 41,733 35,887 Interest cost 17,509 8,800 13,252 40,340 35,593 37,817 Expected return on plan assets (35,012 ) (33,524 ) (36,409 ) (44,616 ) (38,893 ) (41,048 ) Amortization of prior service costs (4,669 ) (4,148 ) (4,226 ) 435 344 313 Recognized net actuarial loss 5,850 14,298 7,462 7,121 5,134 5,452 Amortization of net transition obligation — — — — — — Net periodic pension cost 62,289 74,869 69,043 50,824 43,911 38,421 Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) are as follows: Yen in millions For the years ended March 31, Japanese plans Foreign plans 2016 2017 2018 2016 2017 2018 Net actuarial gain (loss) (290,664 ) 93,859 39,852 (11,242 ) 13,647 (17,163 ) Recognized net actuarial loss 5,850 14,298 7,462 7,121 5,134 5,452 Prior service costs 489 21 58 573 996 12 Amortization of prior service costs (4,669 ) (4,148 ) (4,226 ) 435 344 313 Amortization of net transition obligation — — — — — — Other 76 811 (7,979 ) 272 1,962 9,004 Total recognized in other comprehensive income (loss) (288,918 ) 104,841 35,167 (2,841 ) 22,083 (2,382 ) “Other” includes the impact of consolidation and deconsolidation of certain entities due to changes in ownership interest and currency translation adjustments during the years ended March 31, 2016, 2017 and 2018. The estimated prior service costs and net actuarial loss that will be amortized from accumulated other comprehensive income (loss) into net periodic pension cost during the year ending March 31, 2019 are ¥ (4,200) million and ¥7,100 million in Japanese plans, ¥300 million and ¥6,900 million in Foreign plans, respectively. Weighted-average assumptions used to determine benefit obligations as of March 31, 2017 and 2018 are as follows: March 31, Japanese plans Foreign plans 2017 2018 2017 2018 Discount rate 0.7 % 0.7 % 4.0 % 3.9 % Rate of compensation increase 2.9 % 3.3 % 3.8 % 3.6 % As of March 31, 2017 and 2018, the parent company and certain subsidiaries in Japan employ “point” based retirement benefit plans and do not use the rates of compensation increase to determine benefit obligations. Weighted-average assumptions used to determine net periodic pension cost for the years ended March 31, 2016, 2017 and 2018 are as follows: For the years ended March 31, Japanese plans Foreign plans 2016 2017 2018 2016 2017 2018 Discount rate 1.1 % 0.5 % 0.7 % 4.0 % 4.2 % 4.0 % Expected return on plan assets 2.5 % 2.4 % 2.4 % 6.3 % 6.1 % 6.0 % Rate of compensation increase 2.5 % 2.7 % 2.9 % 4.4 % 3.9 % 3.8 % During the years ended March 31, 2016, 2017 and 2018, the parent company and certain subsidiaries in Japan employ “point” based retirement benefit plans and do not use the rates of compensation increase to determine net periodic pension cost. The expected rate of return on plan assets is determined after considering several applicable factors including, the composition of plan assets held, assumed risks of asset management, historical results of the returns on plan assets, Toyota’s principal policy for plan asset management, and forecasted market conditions. Toyota’s policy and objective for plan asset management is to maximize returns on plan assets to meet future benefit payment requirements under risks which Toyota considers permissible. Asset allocations under the plan asset management are determined based on plan asset management policies of each plan which are established to achieve the optimized asset compositions in terms of the long-term overall plan asset management. In Japanese plans, excepting equity securities contributed by Toyota, approximately 40% of the plan assets is invested in equity securities, approximately 30% is invested in debt securities, and the rest of them is invested in insurance contracts and other products. In Foreign plans, excepting equity securities contributed by Toyota, approximately 65% of the plan assets is invested in equity securities, approximately 25% is invested in debt securities, and the rest of them is invested in other products. When actual allocations are not in line with target allocations, Toyota rebalances its investments in accordance with the policies. Prior to making individual investments, Toyota performs in-depth The following table summarizes the fair value of classes of plan assets as of March 31, 2017 and 2018. See note 27 to the consolidated financial statements for three levels of input which are used to measure fair value. Japanese plans Yen in millions March 31, 2017 Level 1 Level 2 Level 3 Total Equity securities Common stocks 585,052 — — 585,052 Commingled funds — 180,835 — 180,835 585,052 180,835 — 765,887 Debt securities Government bonds 87,958 — — 87,958 Commingled funds — 248,498 — 248,498 Other — 39,754 81 39,835 87,958 288,252 81 376,291 Insurance contracts — 199,779 — 199,779 Other 42,083 34,131 496 76,710 Investments measured at net asset value — — — 65,222 Total 715,093 702,997 577 1,483,889 Yen in millions March 31, 2018 Level 1 Level 2 Level 3 Total Equity securities Common stocks 620,281 — — 620,281 Commingled funds — 202,816 — 202,816 620,281 202,816 — 823,097 Debt securities Government bonds 88,959 — — 88,959 Commingled funds — 284,870 — 284,870 Other — 36,567 19 36,586 88,959 321,437 19 410,415 Insurance contracts — 201,141 — 201,141 Other 41,446 61,301 — 102,747 Investments measured at net asset value — — — 75,479 Total 750,686 786,695 19 1,612,879 Foreign plans Yen in millions March 31, 2017 Level 1 Level 2 Level 3 Total Equity securities Common stocks 207,036 — — 207,036 Commingled funds — 152,104 — 152,104 207,036 152,104 — 359,140 Debt securities Government bonds 76,730 — — 76,730 Commingled funds — 36,430 — 36,430 Other — 33,430 — 33,430 76,730 69,860 — 146,590 Insurance contracts — — — — Other 13,533 13,851 30,903 58,287 Investments measured at net asset value — — — 194,289 Total 297,299 235,815 30,903 758,306 Yen in millions March 31, 2018 Level 1 Level 2 Level 3 Total Equity securities Common stocks 178,476 — — 178,476 Commingled funds — 197,566 — 197,566 178,476 197,566 — 376,042 Debt securities Government bonds 89,928 — — 89,928 Commingled funds — 11,642 — 11,642 Other — 35,032 — 35,032 89,928 46,674 — 136,602 Insurance contracts — — — — Other 12,487 18,107 31,288 61,882 Investments measured at net asset value — — — 240,957 Total 280,891 262,347 31,288 815,483 Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The following is description of the assets, information about the valuation techniques used to measure fair value, key inputs and significant assumptions: Quoted market prices for identical securities are used to measure fair value of common stocks. Japanese stocks and foreign stocks represent 74% and 26% (as of March 31, 2017) and 76% and 24% (as of March 31, 2018) of common stocks, respectively, in Japanese plans. Common stocks include mainly foreign stocks as of March 31, 2017 and 2018 in Foreign plans. Quoted market prices for identical securities are used to measure fair value of government bonds. Japanese government bonds and foreign government bonds represent 28% and 72% (as of March 31, 2017) and 29% and 71% (as of March 31, 2018) of government bonds, respectively, in Japanese plans. Government bonds include mainly foreign government bonds as of March 31, 2017 and 2018 in Foreign plans. Commingled funds are beneficial interests of collective trust. The fair values of commingled funds are measured using the net asset value (“NAV”) provided by the administrator of the fund, and are categorized by the ability to redeem investments by the NAV. The fair values of insurance contracts are measured using contracted amount with accrued interest. “Other” consists of cash equivalents, other private placement investment funds and other assets. The fair values of other private placement investment funds are measured using the NAV provided by the administrator of the fund, and are categorized by the ability to redeem investments by the NAV. The following tables summarize the changes in Level 3 plan assets measured at fair value for the years ended March 31, 2016, 2017 and 2018: Japanese plans Yen in millions For the years ended March 31, 2016 2017 2018 Debt Other Total Debt Other Total Debt Other Total Balance at beginning of year 233 1,018 1,251 146 2,518 2,664 81 496 577 Actual return on plan assets 1 (3 ) (2 ) — (11 ) (11 ) — (4 ) (4 ) Purchases, sales and settlements (88 ) 1,503 1,415 (65 ) (2,011 ) (2,076 ) (62 ) (492 ) (554 ) Other — — — — — — — — — Balance at end of year 146 2,518 2,664 81 496 577 19 — 19 Foreign plans Yen in millions For the years ended March 31, 2016 2017 2018 Other Other Other Balance at beginning of year 17,511 30,758 30,903 Actual return on plan assets 1,966 279 2,024 Purchases, sales and settlements 12,372 — — Other (1,091 ) (134 ) (1,639 ) Balance at end of year 30,758 30,903 31,288 Toyota expects to contribute ¥42,220 million in Japanese plans and ¥23,234 million in Foreign plans to its pension plans in the year ending March 31, 2019. The following pension benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Yen in millions Years ending March 31, Japanese plans Foreign plans 2019 72,756 21,972 2020 73,891 23,700 2021 74,890 25,089 2022 78,254 26,724 2023 82,433 28,552 from 2024 to 2028 429,821 167,337 Total 812,045 293,374 Postretirement benefits other than pensions and postemployment benefits - Toyota’s U.S. subsidiaries provide certain health care and life insurance benefits to eligible retired employees. In addition, Toyota provides benefits to certain former or inactive employees after employment, but before retirement. These benefits are provided through various insurance companies, health care providers and others. The costs of these benefits are recognized over the period the employee provides credited service to Toyota. Toyota’s obligations under these arrangements are not material. |
Derivative financial instrument
Derivative financial instruments | 12 Months Ended |
Mar. 31, 2018 | |
Derivative financial instruments | 21. Derivative financial instruments: Toyota employs derivative financial instruments, including foreign exchange forward contracts, foreign currency options, interest rate swaps, interest rate currency swap agreements and interest rate options to manage its exposure to fluctuations in interest rates and foreign currency exchange rates. Toyota does not use derivatives for speculation or trading. Fair value hedges - Toyota enters into interest rate swaps and interest rate currency swap agreements mainly to convert its fixed-rate debt to variable-rate debt. Toyota uses interest rate swap agreements in managing interest rate risk exposure. Interest rate swap agreements are executed as either an integral part of specific debt transactions or on a portfolio basis. Toyota uses interest rate currency swap agreements to hedge exposure to currency exchange rate fluctuations on principal and interest payments for borrowings denominated in foreign currencies. Notes and loans payable issued in foreign currencies are hedged by concurrently executing interest rate currency swap agreements, which involve the exchange of foreign currency principal and interest obligations for each functional currency obligations at agreed-upon currency exchange and interest rates. For the years ended March 31, 2016, 2017 and 2018, the ineffective portion of Toyota’s fair value hedge relationships was not material. For fair value hedging relationships, the components of each derivative’s gain or loss are included in the assessment of hedge effectiveness. Undesignated derivative financial instruments - Toyota uses foreign exchange forward contracts, foreign currency options, interest rate swaps, interest rate currency swap agreements, and interest rate options, to manage its exposure to foreign currency exchange rate fluctuations and interest rate fluctuations from an economic perspective, and for some of which Toyota is unable to or has elected not to apply hedge accounting. Fair value and gains or losses on derivative financial instruments - The following table summarizes the fair values of derivative financial instruments as of March 31, 2017 and 2018: Yen in millions March 31, 2017 2018 Derivative assets Derivative financial instruments designated as hedging instruments Interest rate and currency swap agreements Prepaid expenses and other current assets — 154 Investments and other assets - Other 662 668 Total 662 822 Undesignated derivative financial instruments Interest rate and currency swap agreements Prepaid expenses and other current assets 61,946 46,425 Investments and other assets - Other 168,292 175,635 Total 230,238 222,060 Foreign exchange forward and option contracts Prepaid expenses and other current assets 12,357 34,922 Investments and other assets - Other 164 — Total 12,521 34,922 Total derivative assets 243,421 257,804 Counterparty netting (84,883 ) (97,617 ) Collateral received (60,021 ) (92,146 ) Carrying value of derivative assets 98,517 68,041 Derivative liabilities Derivative financial instruments designated as hedging instruments Interest rate and currency swap agreements Other current liabilities (64 ) — Other long-term liabilities — — Total (64 ) — Undesignated derivative financial instruments Interest rate and currency swap agreements Other current liabilities (67,091 ) (34,716 ) Other long-term liabilities (158,383 ) (158,830 ) Total (225,474 ) (193,546 ) Foreign exchange forward and option contracts Other current liabilities (19,919 ) (3,610 ) Other long-term liabilities — — Total (19,919 ) (3,610 ) Total derivative liabilities (245,457 ) (197,156 ) Counterparty netting 84,883 97,617 Collateral posted 122,231 55,650 Carrying value of derivative liabilities (38,343 ) (43,889 ) The following table summarizes the notional amounts of derivative financial instruments as of March 31, 2017 and 2018: Yen in millions March 31, 2017 2018 Designated Undesignated Designated Undesignated Interest rate and currency swap agreements 40,837 19,459,677 12,643 19,895,085 Foreign exchange forward and option contracts — 2,772,741 — 2,731,534 Total 40,837 22,232,418 12,643 22,626,619 The following table summarizes the gains and losses on derivative financial instruments and hedged items reported in the consolidated statements of income for the years ended March 31, 2016, 2017 and 2018: Yen in millions For the years ended March 31, 2016 2017 2018 Gains or Gains or Gains or Gains or Gains or Gains or Derivative financial instruments designated as hedging instruments Interest rate and currency swap agreements Cost of financing operations (133 ) 122 (339 ) 1,212 782 (227 ) Undesignated derivative financial instruments Interest rate and currency swap agreements Cost of financing operations 119,096 (61,884 ) 42,220 Foreign exchange gain (loss), net (379 ) 12,516 30,339 Foreign exchange forward and option contracts Cost of financing operations (16,363 ) 2,614 6,442 Foreign exchange gain (loss), net 115,256 81,614 73,115 Undesignated derivative financial instruments are used to manage economic risks of fluctuations in foreign currency exchange rates and interest rates of certain receivables and payables. Those economic risks are offset by changes in the fair value of undesignated derivative financial instruments. Cash flows from transactions of derivative financial instruments are included in cash flows from operating activities in the consolidated statements of cash flows. Credit risk related contingent features - Toyota enters into International Swaps and Derivatives Association Master Agreements with counterparties. These Master Agreements contain a provision requiring either Toyota or the counterparty to settle the contract or to post assets to the other party in the event of a ratings downgrade below a specified threshold. The aggregate fair value amount of derivative financial instruments that contain credit risk related contingent features that are in a net liability position after being offset by cash collateral as of March 31, 2018 is ¥2,489 million. The aggregate fair value amount of assets that are already posted as cash collateral as of March 31, 2018 is ¥28,012 million. If the ratings of Toyota decline below specified thresholds, the maximum amount of assets to be posted or for which Toyota could be required to settle the contracts is ¥2,489 million as of March 31, 2018. |
Other financial instruments
Other financial instruments | 12 Months Ended |
Mar. 31, 2018 | |
Other financial instruments | 22. Other financial instruments: Toyota has certain financial instruments, including financial assets and liabilities which arose in the normal course of business. These financial instruments are executed with creditworthy financial institutions, and virtually all foreign currency contracts are denominated in U.S. dollars, euros and other currencies of major developed countries. Financial instruments involve, to varying degrees, market risk as instruments are subject to price fluctuations, and elements of credit risk in the event a counterparty should default. In the unlikely event the counterparties fail to meet the contractual terms of a foreign currency or an interest rate instrument, Toyota’s risk is limited to the fair value of the instrument. Although Toyota may be exposed to losses in the event of non-performance The following table summarizes the estimated fair values of Toyota’s financial instruments, excluding marketable securities, other securities investments, investments and other assets in affiliated companies and derivative financial instruments. See note 27 to the consolidated financial statements for three levels of input which are used to measure fair value. Yen in millions March 31, 2017 Estimated fair value Carrying amount Level 1 Level 2 Level 3 Total Assets (Liabilities) Cash and cash equivalents 2,995,075 2,103,469 891,606 — 2,995,075 Time deposits 1,082,654 — 1,082,654 — 1,082,654 Total finance receivables, net 14,064,660 — — 14,226,440 14,226,440 Other receivables 436,867 — — 436,867 436,867 Short-term borrowings (4,953,682 ) — (4,953,682 ) — (4,953,682 ) Long-term debt including the current portion (14,179,796 ) — (12,241,617 ) (2,065,884 ) (14,307,501 ) Yen in millions March 31, 2018 Estimated fair value Carrying amount Level 1 Level 2 Level 3 Total Assets (Liabilities) Cash and cash equivalents 3,052,269 2,278,060 774,209 — 3,052,269 Time deposits 901,244 — 901,244 — 901,244 Total finance receivables, net 14,508,614 — — 14,615,409 14,615,409 Other receivables 489,338 — — 489,338 489,338 Short-term borrowings (5,154,913 ) — (5,154,913 ) — (5,154,913 ) Long-term debt including the current portion (14,172,025 ) — (12,265,260 ) (1,940,888 ) (14,206,148 ) Cash and cash equivalents and time deposits - In the normal course of business, substantially all cash and cash equivalents and time deposits are highly liquid and are carried at amounts which approximate fair value due to its short duration. Cash equivalents and time deposits include negotiable certificate of deposit measured at fair value on a recurring basis. Where money market funds produce a daily net asset value in an active market, this value is used to determine the fair value of the fund investment, and the investment is classified in Level 1. All other types of cash and cash equivalents and time deposits are classified in Level 2. Finance receivables, net - The fair values of finance receivables are estimated by discounting expected cash flows to present value using internal assumptions, including prepayment speeds, expected credit losses and collateral value. Certain impaired finance receivables are measured at fair value on a nonrecurring basis based on collateral values. As unobservable inputs are utilized, finance receivables are classified in Level 3. Other receivables - Other receivables are short-term receivables. These receivables are carried at amounts which approximate fair value, and the difference between the carrying amount and the fair value is not material. These receivables are classified in Level 3. Short-term borrowings and long-term debt - The fair values of short-term borrowings and long-term debt including the current portion, except for secured loans provided by securitization transactions using special-purpose entities, are estimated based on the discounted amounts of future cash flows using Toyota’s current borrowing rates for similar liabilities. As these inputs are observable, these debts are classified in Level 2. The fair values of the secured loans provided by securitization transactions are estimated based on current market rates and credit spreads for debt with similar maturities. Internal assumptions including prepayment speeds and expected credit losses are used to estimate the timing of cash flows to be paid on the underlying securitized assets. As these valuations utilize unobservable inputs, the secured loans are classified in Level 3. See note 11 to the consolidated financial statements for information regarding the secured loans. |
Lease commitments
Lease commitments | 12 Months Ended |
Mar. 31, 2018 | |
Lease commitments | 23. Lease commitments: Toyota leases certain assets under capital lease and operating lease arrangements. An analysis of leased assets under capital leases is as follows: Yen in millions March 31, 2017 2018 Class of property Building 18,775 17,934 Machinery and equipment 29,630 31,217 Less - Accumulated depreciation (28,703 ) (30,853 ) 19,702 18,298 Amortization expenses under capital leases for the years ended March 31, 2016, 2017 and 2018 were ¥4,801 million, ¥4,586 million and ¥5,541 million, respectively. Future minimum lease payments under capital leases together with the present value of the net minimum lease payments as of March 31, 2018 are as follows: Years ending March 31, Yen in millions 2019 6,645 2020 3,892 2021 2,276 2022 1,921 2023 1,801 Thereafter 8,933 Total minimum lease payments 25,468 Less - Amount representing interest (4,842 ) Present value of net minimum lease payments 20,626 Less - Current obligations (5,796 ) Long-term capital lease obligations 14,830 Rental expenses under operating leases for the years ended March 31, 2016, 2017 and 2018 were ¥101,932 million, ¥92,321 million and ¥112,934 million, respectively. The minimum rental payments required under operating leases relating primarily to land, buildings and equipment having initial or remaining non-cancelable Years ending March 31, Yen in millions 2019 14,296 2020 11,375 2021 9,422 2022 8,403 2023 7,247 Thereafter 26,106 Total minimum future rentals 76,849 |
Other commitments and contingen
Other commitments and contingencies, concentrations and factors that may affect future operations | 12 Months Ended |
Mar. 31, 2018 | |
Other commitments and contingencies, concentrations and factors that may affect future operations | 24. Other commitments and contingencies, concentrations and factors that may affect future operations: Commitments - Commitments outstanding as of March 31, 2018 for the purchase of property, plant and equipment, other assets and services totaled ¥368,483 million. Guarantees - Toyota enters into contracts with Toyota dealers to guarantee customers’ payments of their installment payables that arise from installment contracts between customers and Toyota dealers, as and when requested by Toyota dealers. Guarantee periods are set to match maturity of installment payments, and as of March 31, 2018, range from 1 month to 35 years; however, they are generally shorter than the useful lives of products sold. Toyota is required to execute its guarantee primarily when customers are unable to make required payments. The maximum potential amount of future payments as of March 31, 2018 is ¥2,830,749 million. Liabilities for guarantees totaling ¥6,901 million have been provided as of March 31, 2018. Under these guarantee contracts, Toyota is entitled to recover any amount paid by Toyota from the customers whose original obligations Toyota has guaranteed. Legal proceedings - From time-to-time, slow-to-return Personal injury and wrongful death claims involving allegations of unintended acceleration are pending in several consolidated proceedings in federal and state courts, as well as in individual cases in various other states. The judges in the consolidated federal action and the consolidated California state action have approved an Intensive Settlement Process (“ISP”) for such claims in those actions. Under the ISP, all individual claims within the consolidated actions are stayed pending completion of a process to assess whether they can be resolved on terms acceptable to the parties. Cases not resolved after completion of the ISP will then proceed to discovery and toward trial. Toyota has offered the ISP process to plaintiffs in other consolidated actions and in individual cases, as well. Toyota has been named as a defendant in 33 economic loss class action lawsuits in the United States, which, together with similar lawsuits against Takata and other automakers, have been made part of a multi-district litigation proceeding in the United States District Court for the Southern District of Florida, arising out of allegations that airbag inflators manufactured by Takata are defective. Toyota has reached a settlement with the plaintiffs in the United States economic loss class actions. While the court approved the settlement on October 31, 2017, objectors have filed appeals, which have not yet been resolved. Toyota and other automakers have also been named in certain class actions filed in Mexico, Canada, Australia and Israel, as well as some other actions by states or territories of the United States. Those actions have not been settled and are being litigated. Toyota self-reported a process gap in fulfilling certain emissions defect information reporting requirements of the U.S. Environmental Protection Agency (“EPA”) and California Air Resources Board, including updates on its repair completion rates for recalled emissions components and certain other reports concerning emissions related defects. Toyota is involved in discussions with the EPA and the SDNY’s Civil Division on this reporting issue. These agencies have requested certain follow-up Toyota also has various other pending legal actions and claims, including without limitation personal injury and wrongful death lawsuits and claims in the United States, and is subject to government investigations from-time-to-time. Beyond the amounts accrued with respect to all aforementioned matters, Toyota is unable to estimate a range of reasonably possible loss, if any, for the pending legal matters because (i) many of the proceedings are in evidence gathering stages, (ii) significant factual issues need to be resolved, (iii) the legal theory or nature of the claims is unclear, (iv) the outcome of future motions or appeals is unknown and/or (v) the outcomes of other matters of these types vary widely and do not appear sufficiently similar to offer meaningful guidance. Based upon information currently available to Toyota, however, Toyota believes that its losses from these matters, if any, beyond the amounts accrued, would not have a material adverse effect on Toyota’s financial position, results of operations or cash flows. The parent company has a concentration of labor supply in employees working under collective bargaining agreements and a substantial portion of these employees are working under the agreement that will expire on December 31, 2020. |
Segment data
Segment data | 12 Months Ended |
Mar. 31, 2018 | |
Segment data | 25. Segment data: The operating segments reported below are the segments of Toyota for which separate financial information is available and for which operating income/loss amounts are evaluated regularly by executive management in deciding how to allocate resources and in assessing performance. The major portions of Toyota’s operations on a worldwide basis are derived from the Automotive and Financial Services business segments. The Automotive segment designs, manufactures and distributes sedans, minivans, compact cars, sport-utility vehicles, trucks and related parts and accessories. The Financial Services segment consists primarily of financing, and vehicle and equipment leasing operations to assist in the merchandising of the parent company and its affiliated companies products as well as other products. The All Other segment includes the design, manufacturing and sales of housing, telecommunications and other businesses. The following tables present certain information regarding Toyota’s industry or geographic segments and overseas revenues by destination as of and for the years ended March 31, 2016, 2017 and 2018. Segment operating results and assets - As of and for the year ended March 31, 2016: Yen in millions Automotive Financial Services All Other Inter-segment Unallocated Amount Consolidated Net revenues Sales to external customers 25,923,813 1,854,007 625,298 — 28,403,118 Inter-segment sales and transfers 53,603 42,217 552,089 (647,909 ) — Total 25,977,416 1,896,224 1,177,387 (647,909 ) 28,403,118 Operating expenses 23,528,418 1,556,998 1,110,880 (647,149 ) 25,549,147 Operating income 2,448,998 339,226 66,507 (760 ) 2,853,971 Assets 15,621,757 21,709,010 1,917,148 8,179,682 47,427,597 Investment in equity method investees 2,532,644 9,168 10,801 78,776 2,631,389 Depreciation expenses 900,434 697,991 27,412 — 1,625,837 Capital expenditure 1,389,289 2,638,111 41,826 (10,010 ) 4,059,216 As of and for the year ended March 31, 2017: Yen in millions Automotive Financial All Other Inter-segment Consolidated Net revenues Sales to external customers 25,032,229 1,783,697 781,267 — 27,597,193 Inter-segment sales and transfers 49,618 39,903 539,785 (629,306 ) — Total 25,081,847 1,823,600 1,321,052 (629,306 ) 27,597,193 Operating expenses 23,388,874 1,601,172 1,239,725 (626,950 ) 25,602,821 Operating income 1,692,973 222,428 81,327 (2,356 ) 1,994,372 Assets 16,156,496 22,507,613 2,170,498 7,915,579 48,750,186 Investment in equity method investees 2,745,437 9,792 — 90,193 2,845,422 Depreciation expenses 912,797 671,155 26,998 — 1,610,950 Capital expenditure 1,293,564 2,182,149 53,710 12,014 3,541,437 As of and for the year ended March 31, 2018: Yen in millions Automotive Financial All Other Inter-segment Consolidated Net revenues Sales to external customers 26,347,229 1,959,234 1,073,047 — 29,379,510 Inter-segment sales and transfers 50,711 57,774 573,071 (681,556 ) — Total 26,397,940 2,017,008 1,646,118 (681,556 ) 29,379,510 Operating expenses 24,386,805 1,731,462 1,545,306 (683,925 ) 26,979,648 Operating income 2,011,135 285,546 100,812 2,369 2,399,862 Assets 17,054,209 23,055,981 2,178,118 8,019,941 50,308,249 Investment in equity method investees 3,054,583 11,713 — 96,415 3,162,711 Depreciation expenses 976,735 723,061 34,237 — 1,734,033 Capital expenditure 1,381,122 2,166,805 62,447 (11,667 ) 3,598,707 Geographic information - As of and for the year ended March 31, 2016: Yen in millions Japan North Europe Asia Other Inter-segment Consolidated Net revenues Sales to external customers 8,588,437 10,822,772 2,507,292 4,475,623 2,008,994 — 28,403,118 Inter-segment sales and transfers 6,171,051 229,198 154,039 528,236 201,220 (7,283,744 ) — Total 14,759,488 11,051,970 2,661,331 5,003,859 2,210,214 (7,283,744 ) 28,403,118 Operating expenses 13,081,966 10,523,151 2,588,915 4,554,670 2,101,305 (7,300,860 ) 25,549,147 Operating income 1,677,522 528,819 72,416 449,189 108,909 17,116 2,853,971 Assets 14,291,434 16,622,979 2,612,210 4,415,700 2,579,113 6,906,161 47,427,597 Long-lived assets 3,210,376 4,958,989 309,657 869,989 391,406 — 9,740,417 As of and for the year ended March 31, 2017: Yen in millions Japan North Europe Asia Other Inter-segment Consolidated Net revenues Sales to external customers 8,798,903 10,033,419 2,517,601 4,279,617 1,967,653 — 27,597,193 Inter-segment sales and transfers 6,031,965 205,672 163,438 540,204 193,421 (7,134,700 ) — Total 14,830,868 10,239,091 2,681,039 4,819,821 2,161,074 (7,134,700 ) 27,597,193 Operating expenses 13,628,623 9,927,897 2,693,283 4,384,642 2,102,380 (7,134,004 ) 25,602,821 Operating income (loss) 1,202,245 311,194 (12,244 ) 435,179 58,694 (696 ) 1,994,372 Assets 14,791,969 17,365,237 2,846,469 4,486,021 2,819,935 6,440,555 48,750,186 Long-lived assets 3,376,157 5,274,928 313,182 828,619 404,223 — 10,197,109 As of and for the year ended March 31, 2018: Yen in millions Japan North Europe Asia Other Inter-segment Consolidated Net revenues Sales to external customers 9,273,672 10,347,266 2,940,243 4,497,374 2,320,955 — 29,379,510 Inter-segment sales and transfers 6,751,172 227,144 244,981 650,765 132,344 (8,006,406 ) — Total 16,024,844 10,574,410 3,185,224 5,148,139 2,453,299 (8,006,406 ) 29,379,510 Operating expenses 14,364,926 10,435,511 3,110,198 4,714,940 2,340,636 (7,986,563 ) 26,979,648 Operating income 1,659,918 138,899 75,026 433,199 112,663 (19,843 ) 2,399,862 Assets 15,797,024 16,936,704 3,346,179 4,893,582 2,986,661 6,348,099 50,308,249 Long-lived assets 3,511,663 5,179,139 359,355 797,435 420,081 — 10,267,673 “Other” consists of Central and South America, Oceania, Africa and the Middle East. Revenues are attributed to geographies based on the country location of the parent company or the subsidiary that transacted the sale with the external customer. There are no any individually material countries with respect to revenues, and long-lived assets included in other foreign countries. Unallocated amounts included in assets represent assets held for corporate purposes, which mainly consist of cash and cash equivalents and marketable securities. Such corporate assets were ¥9,369,868 million, ¥9,177,953 million and ¥9,386,399 million, as of March 31, 2016, 2017 and 2018, respectively. Transfers between industry or geographic segments are made at terms and conditions in the ordinary course of business. In measuring the reportable segments’ income or losses, operating income consists of revenue less operating expenses. Overseas revenues by destination - The following information shows revenues that are attributed to countries based on location of customers, excluding customers in Japan. In addition to the disclosure requirements under U.S.GAAP, Toyota discloses this information in order to provide financial statements users with valuable information. Yen in millions For the years ended March 31, 2016 2017 2018 North America 10,797,304 10,054,431 10,403,647 Europe 2,323,399 2,341,364 2,730,915 Asia 4,292,800 4,414,236 4,793,110 Other 4,724,784 3,923,621 4,186,666 “Other” consists of Central and South America, Oceania, Africa and the Middle East, etc. Certain financial statements data on non-financial The financial data below presents separately Toyota’s non-financial Balance sheets - Yen in millions March 31, 2017 2018 Assets Non-Financial Current assets Cash and cash equivalents 2,257,064 2,390,524 Marketable securities 1,439,944 1,546,459 Trade accounts and notes receivable, less allowance for doubtful accounts 2,191,594 2,304,676 Inventories 2,388,394 2,539,497 Prepaid expenses and other current assets 1,988,016 1,818,687 Total current assets 10,265,012 10,599,843 Investments and other assets 11,276,128 11,861,394 Property, plant and equipment 5,700,818 5,901,958 Total Non-Financial 27,241,958 28,363,195 Financial Services Business Current assets Cash and cash equivalents 738,011 661,745 Marketable securities 381,654 221,901 Finance receivables, net 6,196,649 6,348,306 Prepaid expenses and other current assets 831,924 957,122 Total current assets 8,148,238 8,189,074 Noncurrent finance receivables, net 9,012,222 9,481,618 Investments and other assets 850,862 1,019,574 Property, plant and equipment 4,496,291 4,365,715 Total Financial Services Business assets 22,507,613 23,055,981 Eliminations (999,385 ) (1,110,927 ) Total assets 48,750,186 50,308,249 Assets in the non-financial Yen in millions March 31, 2017 2018 Liabilities Non-Financial Current liabilities Short-term borrowings 669,947 541,968 Current portion of long-term debt 196,227 179,994 Accounts payable 2,540,078 2,556,393 Accrued expenses 3,038,218 2,980,981 Income taxes payable 203,101 429,616 Other current liabilities 1,512,662 1,797,724 Total current liabilities 8,160,233 8,486,676 Long-term liabilities Long-term debt 590,366 642,691 Accrued pension and severance costs 890,684 917,133 Other long-term liabilities 1,206,427 1,111,843 Total long-term liabilities 2,687,477 2,671,667 Total Non-Financial 10,847,710 11,158,343 Financial Services Business Current liabilities Short-term borrowings 4,605,389 4,929,478 Current portion of long-term debt 4,129,005 4,053,538 Accounts payable 33,283 40,251 Accrued expenses 117,773 145,127 Income taxes payable 20,473 32,711 Other current liabilities 833,813 870,634 Total current liabilities 9,739,736 10,071,739 Long-term liabilities Long-term debt 9,491,504 9,574,118 Accrued pension and severance costs 14,386 14,049 Other long-term liabilities 987,289 678,858 Total long-term liabilities 10,493,179 10,267,025 Total Financial Services Business liabilities 20,232,915 20,338,764 Eliminations (999,392 ) (1,110,934 ) Total liabilities 30,081,233 30,386,173 Mezzanine equity 485,877 491,974 Total Toyota Motor Corporation shareholders’ equity 17,514,812 18,735,982 Noncontrolling interests 668,264 694,120 Total shareholders’ equity 18,183,076 19,430,102 Total liabilities, mezzanine equity and shareholders’ equity 48,750,186 50,308,249 Statements of income - Yen in millions For the years ended March 31, 2016 2017 2018 Non-Financial Net revenues 26,581,102 25,845,453 27,448,165 Costs and expenses Cost of revenues 21,474,386 21,557,194 22,613,450 Selling, general and administrative 2,589,082 2,511,647 2,721,362 Total costs and expenses 24,063,468 24,068,841 25,334,812 Operating income 2,517,634 1,776,612 2,113,353 Other income (expense), net 117,930 200,370 222,326 Income before income taxes and equity in earnings of affiliated companies 2,635,564 1,976,982 2,335,679 Provision for income taxes 752,248 562,452 738,763 Equity in earnings of affiliated companies 327,167 360,130 467,718 Net income 2,210,483 1,774,660 2,064,634 Less - Net income attributable to noncontrolling interests (117,544 ) (89,337 ) (89,533 ) Net income attributable to Toyota Motor Corporation Non-Financial 2,092,939 1,685,323 1,975,101 Financial Services Business Net revenues 1,896,224 1,823,600 2,017,008 Costs and expenses Cost of revenues 1,181,437 1,221,268 1,320,348 Selling, general and administrative 375,561 379,904 411,114 Total costs and expenses 1,556,998 1,601,172 1,731,462 Operating income 339,226 222,428 285,546 Other income (expense), net 8,579 (5,618 ) (794 ) Income before income taxes and equity in earnings of affiliated companies 347,805 216,810 284,752 Provision for income taxes 126,319 66,583 (234,356 ) Equity in earnings of affiliated companies 1,932 1,930 2,365 Net income 223,418 152,157 521,473 Less - Net income attributable to noncontrolling interests (3,963 ) (6,518 ) (2,589 ) Net income attributable to Toyota Motor Corporation 219,455 145,639 518,884 Eliminations 300 147 (2 ) Net income attributable to Toyota Motor Corporation 2,312,694 1,831,109 2,493,983 Statements of cash flows - Yen in millions Yen in millions For the year ended March 31, 2016 For the year ended March 31, 2017 Non-Financial Financial Consolidated Non-Financial Financial Consolidated Cash flows from operating activities Net income 2,210,483 223,418 2,434,211 1,774,660 152,157 1,926,985 Adjustments to reconcile net income to net cash provided by operating activities Depreciation 927,846 697,991 1,625,837 939,795 671,155 1,610,950 Provision for doubtful accounts and credit 69,029 90,236 159,265 6,519 92,147 98,666 Pension and severance costs, less payments 8,300 533 8,833 21,796 1,457 23,253 Losses on disposal of fixed assets 33,293 36 33,329 30,461 212 30,673 Unrealized losses on available-for-sale 3,217 6,055 9,272 4,422 2,651 7,073 Deferred income taxes (43,237 ) 76,423 32,889 (59,668 ) 6,504 (53,299 ) Equity in earnings of affiliated companies (327,167 ) (1,932 ) (329,099 ) (360,130 ) (1,930 ) (362,060 ) Changes in operating assets and liabilities, and other 386,529 148,376 486,320 206,455 103,840 131,996 Net cash provided by operating activities 3,268,293 1,241,136 4,460,857 2,564,310 1,028,193 3,414,237 Cash flows from investing activities Additions to finance receivables — (23,399,113 ) (13,549,278 ) — (22,894,114 ) (13,636,694 ) Collection of and proceeds from sales of finance receivables — 22,918,132 13,115,854 — 22,006,010 12,927,981 Additions to fixed assets excluding equipment leased to others (1,265,174 ) (17,371 ) (1,282,545 ) (1,206,738 ) (17,140 ) (1,223,878 ) Additions to equipment leased to others (155,931 ) (2,620,740 ) (2,776,671 ) (152,550 ) (2,165,009 ) (2,317,559 ) Proceeds from sales of fixed assets excluding equipment leased to others 41,154 993 42,147 40,189 1,049 41,238 Proceeds from sales of equipment leased to others 60,989 1,050,738 1,111,727 72,659 1,165,619 1,238,278 Purchases of marketable securities and security investments (1,302,965 ) (894,512 ) (2,197,477 ) (2,104,202 ) (412,806 ) (2,517,008 ) Proceeds from sales of and maturity of marketable securities and security investments 2,471,876 943,939 3,415,815 1,435,267 466,274 1,901,541 Payment for additional investments in affiliated companies, net of cash acquired 628 — 628 44,274 — 44,274 Changes in investments and other assets, and other (1,371,996 ) 296,788 (1,062,744 ) 582,649 (60,345 ) 571,888 Net cash used in investing activities (1,521,419 ) (1,721,146 ) (3,182,544 ) (1,288,452 ) (1,910,462 ) (2,969,939 ) Cash flows from financing activities Proceeds from issuance of long-term debt 110,691 4,815,323 4,845,872 111,727 4,541,541 4,603,446 Payments of long-term debt (71,758 ) (4,127,178 ) (4,176,202 ) (82,840 ) (3,773,644 ) (3,845,554 ) Increase (decrease) in short-term borrowings 75,990 (132,852 ) (10,903 ) 51,523 233,331 273,037 Proceeds from issuance of class shares 474,917 — 474,917 — — — Dividends paid to Toyota Motor Corporation class shareholders (1,225 ) — (1,225 ) (3,697 ) — (3,697 ) Dividends paid to Toyota Motor Corporation common shareholders (704,728 ) — (704,728 ) (634,475 ) — (634,475 ) Dividends paid to noncontrolling interests (73,129 ) — (73,129 ) (63,936 ) — (63,936 ) Reissuance (repurchase) of treasury stock, and (778,173 ) — (778,173 ) (703,986 ) — (703,986 ) Net cash provided by (used in) financing activities (967,415 ) 555,293 (423,571 ) (1,325,684 ) 1,001,228 (375,165 ) Effect of exchange rate changes on cash and cash equivalents (142,301 ) (57,570 ) (199,871 ) (11,262 ) (2,224 ) (13,486 ) Net increase (decrease) in cash and cash equivalents 637,158 17,713 654,871 (61,088 ) 116,735 55,647 Cash and cash equivalents at beginning of year 1,680,994 603,563 2,284,557 2,318,152 621,276 2,939,428 Cash and cash equivalents at end of year 2,318,152 621,276 2,939,428 2,257,064 738,011 2,995,075 Yen in millions For the year ended March 31, 2018 Non-Financial Financial Consolidated Cash flows from operating activities Net income 2,064,634 521,473 2,586,106 Adjustments to reconcile net income to net cash provided by operating activities Depreciation 1,010,972 723,061 1,734,033 Provision for doubtful accounts and credit losses (74 ) 76,143 76,069 Pension and severance costs, less payments 5,027 (741 ) 4,286 Losses on disposal of fixed assets 35,010 279 35,289 Unrealized losses on available-for-sale 459 387 846 Deferred income taxes 64,143 (302,103 ) (237,961 ) Equity in earnings of affiliated companies (467,718 ) (2,365 ) (470,083 ) Changes in operating assets and liabilities, and other 205,434 299,709 481,424 Net cash provided by operating activities 2,917,887 1,315,843 4,210,009 Cash flows from investing activities Additions to finance receivables — (25,153,088 ) (15,058,516 ) Collection of and proceeds from sales of finance receivables — 24,117,335 14,046,312 Additions to fixed assets excluding equipment leased to others (1,276,788 ) (14,329 ) (1,291,117 ) Additions to equipment leased to others (155,114 ) (2,152,476 ) (2,307,590 ) Proceeds from sales of fixed assets excluding equipment leased to others 70,755 1,065 71,820 Proceeds from sales of equipment leased to others 63,402 1,147,870 1,211,272 Purchases of marketable securities and security investments (2,273,805 ) (779,111 ) (3,052,916 ) Proceeds from sales of and maturity of marketable securities and security investments 1,762,189 761,349 2,523,538 Payment for additional investments in affiliated companies, net of cash acquired (576 ) — (576 ) Changes in investments and other assets, and other 260,015 (106,597 ) 197,681 Net cash used in investing activities (1,549,922 ) (2,177,982 ) (3,660,092 ) Cash flows from financing activities Proceeds from issuance of long-term debt 212,387 4,666,579 4,793,939 Payments of long-term debt (170,072 ) (4,314,294 ) (4,452,338 ) Increase (decrease) in short-term borrowings (122,222 ) 461,052 347,738 Proceeds from issuance of class shares — — — Dividends paid to Toyota Motor Corporation class shareholders (6,194 ) — (6,194 ) Dividends paid to Toyota Motor Corporation common shareholders (620,698 ) — (620,698 ) Dividends paid to noncontrolling interests (63,764 ) — (63,764 ) Reissuance (repurchase) of treasury stock, and other (447,818 ) — (447,818 ) Net cash provided by (used in) financing activities (1,218,381 ) 813,337 (449,135 ) Effect of exchange rate changes on cash and cash equivalents (16,124 ) (27,464 ) (43,588 ) Net increase (decrease) in cash and cash equivalents 133,460 (76,266 ) 57,194 Cash and cash equivalents at beginning of year 2,257,064 738,011 2,995,075 Cash and cash equivalents at end of year 2,390,524 661,745 3,052,269 |
Per share amounts
Per share amounts | 12 Months Ended |
Mar. 31, 2018 | |
Per share amounts | 26. Per share amounts: Reconciliations of the differences between basic and diluted net income attributable to Toyota Motor Corporation per common share for the years ended March 31, 2016, 2017 and 2018 are as follows: Yen in Thousands Yen Net income Weighted- Net income For the year ended March 31, 2016 Net income attributable to Toyota Motor Corporation 2,312,694 Accretion to Mezzanine equity (3,638 ) Dividends to Toyota Motor Corporation (2,449 ) Basic net income attributable to Toyota Motor Corporation 2,306,607 3,111,306 741.36 Effect of dilutive securities Model AA Class Shares 6,087 32,429 Assumed exercise of dilutive stock options (21 ) 1,212 Diluted net income attributable to Toyota Motor Corporation 2,312,673 3,144,947 735.36 For the year ended March 31, 2017 Net income attributable to Toyota Motor Corporation 1,831,109 Accretion to Mezzanine equity (4,849 ) Dividends to Toyota Motor Corporation (4,946 ) Basic net income attributable to Toyota Motor Corporation 1,821,314 3,008,088 605.47 Effect of dilutive securities Model AA Class Shares 9,795 47,100 Assumed exercise of dilutive stock options (6 ) 638 Diluted net income attributable to Toyota Motor Corporation 1,831,103 3,055,826 599.22 For the year ended March 31, 2018 Net income attributable to Toyota Motor Corporation 2,493,983 Accretion to Mezzanine equity (4,849 ) Dividends to Toyota Motor Corporation (7,442 ) Basic net income attributable to Toyota Motor Corporation 2,481,692 2,947,365 842.00 Effect of dilutive securities Model AA Class Shares 12,291 47,100 Assumed exercise of dilutive stock options (4 ) 301 Diluted net income attributable to Toyota Motor Corporation 2,493,979 2,994,766 832.78 In addition to the disclosure requirements under U.S.GAAP, Toyota discloses the information below in order to provide financial statements users with valuable information. The following table shows Toyota Motor Corporation shareholders’ equity per share as of March 31, 2017 and 2018. Toyota Motor Corporation shareholders’ equity per share amounts are calculated by dividing Toyota Motor Corporation shareholders’ equities’ amount at the end of each period by the number of shares issued and outstanding, excluding treasury stock at the end of the corresponding period. Yen in Thousands Yen Toyota Motor Common shares at the end of the year Toyota Motor As of March 31, 2017 17,514,812 2,974,723 5,887.88 As of March 31, 2018 18,735,982 2,909,924 6,438.65 |
Fair value measurements
Fair value measurements | 12 Months Ended |
Mar. 31, 2018 | |
Fair value measurements | 27. Fair value measurements: In accordance with U.S.GAAP, Toyota classifies fair value into three levels of input as follows which are used to measure it. Level 1: Quoted prices in active markets for identical assets or liabilities Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; valuation of assets or liabilities using inputs, other than quoted prices that are observable Level 3: Valuation of assets or liabilities using unobservable inputs which reflect the reporting entity’s assumptions The following table summarizes the fair values of the assets and liabilities measured at fair value on a recurring basis as of March 31, 2017 and 2018. Transfers between levels of the fair value are recognized at the end of their respective reporting periods: Yen in millions March 31, 2017 Level 1 Level 2 Level 3 Total Assets Cash equivalents 41,876 891,606 — 933,482 Time deposits — 600,000 — 600,000 Marketable securities and other securities investments Public and corporate bonds 4,797,499 1,079,385 8,947 5,885,831 Common stocks 2,686,934 — — 2,686,934 Other 18,191 73,246 — 91,437 Investments measured at net asset value — — — 735,131 Derivative financial instruments — 243,334 87 243,421 Total 7,544,500 2,887,571 9,034 11,176,236 Liabilities Derivative financial instruments — (237,848 ) (7,609 ) (245,457 ) Total — (237,848 ) (7,609 ) (245,457 ) Yen in millions March 31, 2018 Level 1 Level 2 Level 3 Total Assets Cash equivalents 44,897 774,209 — 819,106 Time deposits — 400,000 — 400,000 Marketable securities and other securities investments Public and corporate bonds 4,778,019 1,523,227 7,488 6,308,734 Common stocks 2,582,115 — — 2,582,115 Other 169,282 50,746 — 220,028 Investments measured at net asset value — — — 516,951 Derivative financial instruments — 257,795 9 257,804 Total 7,574,313 3,005,977 7,497 11,104,738 Liabilities Derivative financial instruments — (194,935 ) (2,221 ) (197,156 ) Total — (194,935 ) (2,221 ) (197,156 ) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The following is description of the assets and liabilities measured at fair value, information about the valuation techniques used to measure fair value, key inputs and significant assumptions: Cash equivalents and time deposits - Cash equivalents include money market funds and other investments with original maturities of three months or less. Cash equivalents classified in Level 2 include negotiable certificate of deposit with original maturities of three months or less. These are measured at fair value using primarily observable interest rates in the market. Time deposits consist of negotiable certificates of deposit with original maturities over three months. These are measured at fair value using primarily observable interest rates in the market. Marketable securities and other securities investments - Marketable securities and other securities investments include public and corporate bonds, common stocks and other investments. Public and corporate bonds include government bonds. Japanese bonds and foreign bonds including U.S., European and other bonds represent 28% and 72% (as of March 31, 2017) and 16% and 84% (as of March 31, 2018) of public and corporate bonds, respectively. Listed stocks on the Japanese stock markets represent 92% and 93% of common stocks as of March 31, 2017 and 2018, respectively. Toyota uses primarily quoted market prices for identical assets to measure fair value of these securities. “Other” includes investment trusts. Generally, Toyota uses quoted market prices for similar assets or quoted non-active Derivative financial instruments - See note 21 to the consolidated financial statements about derivative financial instruments. Toyota primarily estimates the fair value of derivative financial instruments using industry-standard valuation models that require observable inputs including interest rates and foreign exchange rates, and the contractual terms. The usage of these models does not require significant judgment to be applied. These derivative financial instruments are classified in Level 2. In other certain cases when market data is not available, key inputs to the fair value measurement include quotes from counterparties, and other market data. Toyota assesses the reasonableness of changes of the quotes using observable market data. These derivative financial instruments are classified in Level 3. Toyota’s derivative fair value measurements consider assumptions about counterparty and Toyota’s own non-performance The following table summarizes the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the periods ended March 31, 2016, 2017 and 2018: Yen in millions For the year ended March 31, 2016 Marketable Derivative Total Balance at beginning of year 12,317 1,010 13,327 Total gains (losses) Included in income (loss) 1 2,507 2,508 Included in other comprehensive income (loss) (286 ) — (286 ) Purchases and issuances 931 — 931 Settlements (1,451 ) (479 ) (1,930 ) Other (1,178 ) (189 ) (1,367 ) Balance at end of year 10,334 2,849 13,183 Yen in millions For the year ended March 31, 2017 Marketable Derivative Total Balance at beginning of year 10,334 2,849 13,183 Total gains (losses) Included in income (loss) (16 ) (7,310 ) (7,326 ) Included in other comprehensive income (loss) 60 — 60 Purchases and issuances 1,126 — 1,126 Settlements (2,282 ) (2,693 ) (4,975 ) Other (275 ) (368 ) (643 ) Balance at end of year 8,947 (7,522 ) 1,425 Yen in millions For the year ended March 31, 2018 Marketable Derivative Total Balance at beginning of year 8,947 (7,522 ) 1,425 Total gains (losses) Included in income (loss) 17 805 822 Included in other comprehensive income (loss) (12 ) — (12 ) Purchases and issuances 3,860 — 3,860 Settlements (4,739 ) 4,320 (419 ) Other (585 ) 185 (400 ) Balance at end of year 7,488 (2,212 ) 5,276 “Included in income (loss)” in marketable securities and other securities investments and derivative financial instruments are included in “Other income (loss), net” and “Cost of financing operations” in the accompanying consolidated statements of income, respectively. In the reconciliation table above, derivative financial instruments are presented net of assets and liabilities. “Other” includes the currency translation adjustments for the years ended March 31, 2016, 2017 and 2018. As of March 31, 2018, the Level 3 assets and liabilities measured at fair value on a recurring basis are not significant. Certain assets and liabilities are measured at fair value on a nonrecurring basis. During the years ended March 31, 2017 and 2018, Toyota measured certain finance receivables at fair value of ¥47,999 million and ¥45,492 million based on the collateral value, resulting in gain of ¥2,405 million and loss of ¥4,190 million, respectively. This fair value measurement on a nonrecurring basis is classified in Level 3. See note 22 to the consolidated financial statements for the fair value measurement. These Level 3 financial assets are not significant. |
Summary of significant accoun36
Summary of significant accounting policies (Policies) | 12 Months Ended |
Mar. 31, 2018 | |
Basis of consolidation and accounting for investments in affiliated companies | Basis of consolidation and accounting for investments in affiliated companies - The consolidated financial statements include the accounts of the parent company, its majority-owned subsidiary companies and variable interest entities of which Toyota is the primary beneficiary. All significant intercompany transactions and accounts have been eliminated. Investments in affiliated companies in which Toyota exercises significant influence, but which it does not control, are stated at cost plus equity in undistributed earnings. Consolidated net income includes Toyota’s equity in current earnings of such companies, after elimination of unrealized intercompany profits. Investments in such companies are reduced to fair value if a decline in market value is determined other-than-temporary. Investments in non-public |
Estimates | Estimates - The preparation of Toyota’s consolidated financial statements in conformity with U.S.GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. The more significant estimates include: product warranties, liabilities accrued for recalls and other safety measures, allowance for doubtful accounts and credit losses, residual values for leased assets, impairment of long-lived assets, pension costs and obligations, fair value of derivative financial instruments, other-than-temporary losses on marketable securities, litigation liabilities and valuation allowance for deferred tax assets. |
Translation of foreign currencies | Translation of foreign currencies - All asset and liability accounts of foreign subsidiaries and affiliated companies are translated into Japanese yen at appropriate year-end Foreign currency receivables and payables are translated at appropriate year-end |
Revenue recognition | Revenue recognition - Revenues from sales of vehicles and parts are generally recognized upon delivery which is considered to have occurred when the dealer has taken title to the product and the risk and reward of ownership have been substantively transferred, except as described below. Toyota’s sales incentive programs principally consist of cash payments to dealers calculated based on vehicle volume or a model sold by a dealer during a certain period of time. Toyota accrues these incentives as revenue reductions upon the sale of a vehicle corresponding to the program by the amount determined in the related incentive program. Revenues from the sales of vehicles under which Toyota conditionally guarantees the minimum resale value are recognized on a pro rata basis from the date of sale to the first exercise date of the guarantee in a manner similar to operating lease accounting. The underlying vehicles of these transactions are recorded as assets and are depreciated in accordance with Toyota’s depreciation policy. Revenues from retail financing contracts and finance leases are recognized using the effective yield method. Revenues from operating leases are recognized on a straight-line basis over the lease term. The sale of certain vehicles includes a determinable amount for the contract, which entitles customers to free vehicle maintenance. Such revenues from free maintenance contracts are deferred and recognized as revenue over the period of the contract, which approximates the pattern of the related costs. |
Other costs | Other costs - Advertising and sales promotion costs are expensed as incurred. Advertising costs were ¥489,036 million, ¥448,780 million and ¥509,653 million for the years ended March 31, 2016, 2017 and 2018, respectively. Toyota generally warrants its products against certain manufacturing and other defects. Provisions for product warranties are provided for specific periods of time and/or usage of the product and vary depending upon the nature of the product, the geographic location of the sale and other factors. Toyota records a provision for estimated product warranty costs at the time the related sale is recognized based on estimates that Toyota will incur to repair or replace product parts that fail while under warranty. The amount of accrued estimated warranty costs is primarily based on historical experience as to product failures as well as current information on repair costs. The amount of warranty costs accrued also contains an estimate of warranty claim recoveries to be received from suppliers. In addition to product warranties above, Toyota accrues for costs of recalls and other safety measures based on management’s estimates when it is probable a liability has been incurred and the amount of loss can be reasonably estimated. Toyota mainly employs an estimation model, to accrue at the time of vehicle sale, an amount that represents management’s best estimate of expenses related to future recalls and other safety measures. The estimation model for recalls and other safety measures takes into account Toyota’s historical experience of recalls and other safety measures. Litigation liabilities are established to cover probable losses on various lawsuits based on the information currently available. Attorneys’ fees are expensed as incurred. Research and development costs are expensed as incurred. Research and development costs were ¥1,055,672 million, ¥1,037,528 million and ¥1,064,269 million for the years ended March 31, 2016, 2017 and 2018, respectively. |
Cash and cash equivalents | Cash and cash equivalents - Cash and cash equivalents include all highly liquid investments with original maturities of three months or less, that are readily convertible to known amounts of cash and are so near maturity that they present insignificant risk of changes in value because of changes in interest rates. |
Marketable securities | Marketable securities - Marketable securities consist of debt and equity securities. Debt and equity securities designated as available-for-sale available-for-sale |
Security investments in non-public companies | Security investments in non-public Security investments in non-public non-public |
Finance receivables | Finance receivables - Finance receivables recorded on Toyota’s consolidated balance sheets are comprised of the unpaid principal balance, plus accrued interest, less charge-offs, net of any unearned income and deferred origination costs and the allowance for credit losses. Deferred origination costs are amortized so as to approximate a level rate of return over the term of the related contracts. The determination of portfolio segments is based primarily on the qualitative consideration of the nature of Toyota’s business operations and finance receivables. The three portfolio segments within finance receivables are as follows: Retail receivables portfolio segment - The retail receivables portfolio segment consists of retail installment sales contracts acquired mainly from dealers (“auto loans”) including credit card loans. These contracts acquired must first meet specified credit standards. Thereafter, Toyota retains responsibility for contract collection and administration. The contract periods of auto loans primarily range from 2 to 7 years. Toyota acquires security interests in the vehicles financed and has the right to repossess vehicles if customers fail to meet their contractual obligations. Almost all auto loans are non-recourse, Toyota classifies retail receivables portfolio segment into one class based on common risk characteristics associated with the underlying finance receivables, the similarity of the credit risks, and the quantitative materiality. Finance lease receivables portfolio segment - Toyota acquires new vehicle lease contracts originated primarily through dealers. The contract periods of these primarily range from 2 to 5 years. Lease contracts acquired must first meet specified credit standards after which Toyota assumes ownership of the leased vehicle. Toyota is responsible for contract collection and administration during the lease period. Toyota is generally permitted to take possession of the vehicle upon a default by the lessee. The residual value is estimated at the time the vehicle is first leased. Vehicles returned to Toyota at the end of their leases are sold by auction. Toyota classifies finance lease receivables portfolio segment into one class based on common risk characteristics associated with the underlying finance receivables and the similarity of the credit risks. Wholesale and other dealer loan receivables portfolio segment - Toyota provides wholesale financing to qualified dealers to finance inventories. Toyota acquires security interests in vehicles financed at wholesale. In cases where additional security interests would be required, Toyota takes dealership assets or personal assets, or both, as additional security. If a dealer defaults, Toyota has the right to liquidate any assets acquired and seek legal remedies. Toyota also makes term loans to dealers for business acquisitions, facilities refurbishment, real estate purchases and working capital requirements. These loans are typically secured with liens on real estate, other dealership assets and/or personal assets of the dealers. Toyota classifies wholesale and other dealer loan receivables portfolio segment into three classes of wholesale, real estate and working capital, based on the risk characteristics associated with the underlying finance receivables. A receivable account balance is considered impaired when, based on current information and events, it is probable that Toyota will be unable to collect all amounts due according to the terms of the contract. Factors such as payment history, compliance with terms and conditions of the underlying loan agreement and other subjective factors related to the financial stability of the borrower are considered when determining whether a loan is impaired. Impaired finance receivables include certain nonaccrual receivables for which a specific reserve has been assessed. An account modified as a troubled debt restructuring is considered to be impaired. A troubled debt restructuring occurs when an account is modified through a concession to a borrower experiencing financial difficulty. All classes of wholesale and other dealer loan receivables portfolio segment are placed on nonaccrual status when full payment of principal or interest is in doubt, or when principal or interest is 90 days or more contractually past due, whichever occurs first. Collateral dependent loans are placed on nonaccrual status if collateral is insufficient to cover principal and interest. Interest accrued but not collected at the date a receivable is placed on nonaccrual status is reversed against interest income. In addition, the amortization of net deferred fees is suspended. Interest income on nonaccrual receivables is recognized only to the extent it is received in cash. Accounts are restored to accrual status only when interest and principal payments are brought current and future payments are reasonably assured. Receivable balances are written-off written-off As of March 31, 2017 and 2018, finance receivables on nonaccrual status are as follows: Yen in millions March 31, 2017 2018 Retail 7,064 6,897 Finance leases 2,297 2,117 Wholesale 15,018 12,484 Real estate 12,632 13,856 Working capital 561 105 37,572 35,459 As of March 31, 2017 and 2018, finance receivables 90 days or more past due and accruing are as follows: Yen in millions March 31, 2017 2018 Retail 26,616 26,007 Finance leases 3,526 3,812 30,142 29,819 |
Allowance for credit losses | Allowance for credit losses - Allowance for credit losses is established to cover probable losses on finance receivables and vehicles and equipment on operating leases, resulting from the inability of customers to make required payments. Provision for credit losses is included in selling, general and administrative expenses. The allowance for credit losses is based on a systematic, ongoing review and evaluation performed as part of the credit-risk evaluation process, historical loss experience, the size and composition of the portfolios, current economic events and conditions, the estimated fair value and adequacy of collateral and other pertinent factors. Vehicles and equipment on operating leases are not within the scope of accounting guidance governing the disclosure of portfolio segments. Retail receivables portfolio segment - Toyota calculates allowance for credit losses to cover probable losses on retail receivables by applying reserve rates to such receivables. Reserve rates are calculated mainly by historical loss experience, current economic events and conditions and other pertinent factors. Finance lease receivables portfolio segment - Toyota calculates allowance for credit losses to cover probable losses on finance lease receivables by applying reserve rates to such receivables. Reserve rates are calculated mainly by historical loss experience, current economic events and conditions and other pertinent factors such as used car markets. Wholesale and other dealer loan receivables portfolio segment - Toyota calculates allowance for credit losses to cover probable losses on wholesale and other dealer loan receivables by applying reserve rates to such receivables. Reserve rates are calculated mainly by financial conditions of the dealers, terms of collateral setting, current economic events and conditions and other pertinent factors. Toyota establishes specific reserves to cover the estimated losses on individually impaired receivables within the wholesale and other dealer loan receivables portfolio segment. Specific reserves on impaired receivables are determined by the present value of expected future cash flows or the fair value of collateral when it is probable that such receivables will be unable to be fully collected. The fair value of the underlying collateral is used if the receivable is collateral-dependent. The receivable is determined collateral-dependent if the repayment of the loan is expected to be provided by the underlying collateral. For the receivables in which the fair value of the underlying collateral was in excess of the outstanding balance, no allowance was provided. Troubled debt restructurings in the retail receivables and finance lease receivables portfolio segments are specifically identified as impaired and aggregated with their respective portfolio segments when determining the allowance for credit losses. Impaired loans in the retail receivables and finance lease receivables portfolio segments are insignificant for individual evaluation and Toyota has determined that allowance for credit losses for each of the retail receivables and finance lease receivables portfolio segments would not be materially different if they had been individually evaluated for impairment. Specific reserves on impaired receivables within the wholesale and other dealer loan receivables portfolio segment are recorded by an increase to the allowance for credit losses based on the related measurement of impairment. Related collateral, if recoverable, is repossessed and sold and the account balance is written-off. Any shortfall between proceeds received and the carrying cost of repossessed collateral is charged to the allowance. Recoveries are reversed from the allowance for credit losses. |
Allowance for residual value losses | Allowance for residual value losses - Toyota is exposed to risk of loss on the disposition of off-lease The allowance for residual value losses is maintained in amounts considered by Toyota to be appropriate in relation to the estimated losses on its owned portfolio. Upon disposal of the assets, the allowance for residual losses is adjusted for the difference between the net book value and the proceeds from sale. |
Inventories | Inventories - Inventories are valued at cost, not in excess of net realizable value, cost being determined on the “average-cost” basis, except for the cost of finished products carried by certain subsidiary companies which is determined on the “specific identification” basis or “last-in, first-out” “first-in, first-out” |
Property, plant and equipment | Property, plant and equipment - Property, plant and equipment are stated at cost. Major renewals and improvements are capitalized; minor replacements, maintenance and repairs are charged to current operations. Depreciation of property, plant and equipment is mainly computed on the declining-balance method for the parent company and Japanese subsidiaries and on the straight-line method for foreign subsidiary companies at rates based on estimated useful lives of the respective assets according to general class, type of construction and use. The estimated useful lives range from 2 to 65 years for buildings and from 2 to 20 years for machinery and equipment. Vehicles and equipment on operating leases to third parties are originated by dealers and acquired by certain consolidated subsidiaries. Such subsidiaries are also the lessors of certain property that they acquire directly. Vehicles and equipment on operating leases are depreciated primarily on a straight-line method over the lease term, generally from 2 to 5 years, to the estimated residual value. Incremental direct costs incurred in connection with the acquisition of operating lease contracts are capitalized and amortized on a straight-line method over the lease term. |
Long-lived assets | Long-lived assets - Toyota reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset group exceeds the estimated undiscounted cash flows expected to result from the use of the asset and its eventual disposition. The amount of the impairment loss to be recorded is calculated by the excess of the carrying value of the asset group over its fair value. Fair value is determined mainly using a discounted cash flow valuation method. |
Goodwill and intangible assets | Goodwill and intangible assets - Goodwill is not material to Toyota’s consolidated balance sheets. Intangible assets consist mainly of software. Intangible assets with a definite life are amortized on a straight-line basis with estimated useful lives mainly of 5 years. Intangible assets with an indefinite life are tested for impairment whenever events or circumstances indicate that a carrying amount of an asset (asset group) may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows used in determining the fair value of the asset. The amount of the impairment loss to be recorded is generally determined by the difference between the fair value of the asset using a discounted cash flow valuation method and the current book value. |
Employee benefit obligations | Employee benefit obligations - Toyota has both defined benefit and defined contribution plans for employees’ retirement benefits. Retirement benefit obligations are measured by actuarial calculations in accordance with U.S.GAAP. The funded status of the defined benefit postretirement plans is recognized on the consolidated balance sheets as prepaid pension and severance costs or accrued pension and severance costs, and the funded status change is recognized in the year in which it occurs through other comprehensive income. |
Environmental matters | Environmental matters - Environmental expenditures relating to current operations are expensed or capitalized as appropriate. Expenditures relating to existing conditions caused by past operations, which do not contribute to current or future revenues, are expensed. Liabilities for remediation costs are recorded when they are probable and reasonably estimable, generally no later than the completion of feasibility studies or Toyota’s commitment to a plan of action. The cost of each environmental liability is estimated by using current technology available and various engineering, financial and legal specialists within Toyota based on current law. Such liabilities do not reflect any offset for possible recoveries from insurance companies and are not discounted. There were no material changes in these liabilities for all periods presented. |
Income taxes | Income taxes - The provision for income taxes is computed based on the pretax income included in the consolidated statements of income. The asset and liability approach is used to recognize deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. |
Derivative financial instruments | Derivative financial instruments - Toyota employs derivative financial instruments, including forward foreign currency exchange contracts, foreign currency options, interest rate swaps, interest rate currency swap agreements and interest rate options to manage its exposure to fluctuations in interest rates and foreign currency exchange rates. All derivative financial instruments are recorded on the consolidated balance sheets at fair value, taking into consideration the effects of legally enforceable master netting agreements that allow us to net settle positive and negative positions and offset cash collateral held with the same counterparty on a net basis. Toyota does not use derivatives for speculation or trading purposes. Changes in the fair value of derivatives are recorded each period in current earnings or through other comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and the type of hedge transaction. The ineffective portion of all hedges is recognized currently in operations. |
Net income attributable to Toyota Motor Corporation per common share | Net income attributable to Toyota Motor Corporation per common share - Basic net income attributable to Toyota Motor Corporation per common share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the reported period. The calculation of diluted net income attributable to Toyota Motor Corporation per common share is done by adjusting net income attributable to common shareholders and the weighted-average number of common shares outstanding, which includes the additional dilution from the assumed conversion of model AA class shares and the assumed exercise of dilutive stock options. |
Stock-based compensation | Stock-based compensation - Toyota measures compensation expense for its stock-based compensation plan based on the grant-date fair value of the award, and accounts for the award. |
Other comprehensive income | Other comprehensive income - Other comprehensive income refers to revenues, expenses, gains and losses that, under U.S.GAAP are included in comprehensive income, but are excluded from net income as these amounts are recorded directly as an adjustment to shareholders’ equity. Toyota’s other comprehensive income is primarily comprised of unrealized gains/losses on marketable securities designated as available-for-sale, |
Accounting changes | Accounting changes - In July 2015, the Financial Accounting Standards Board (“FASB”) issued updated guidance to simplify the measurement of inventory. Toyota adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. In March 2016, the FASB issued updated guidance for effect of derivative contract novations on existing hedge accounting relationships. This guidance clarifies that a change in the counterparty to a designated derivative hedging instrument does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. Toyota adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. In March 2016, the FASB issued updated guidance for contingent put and call options in debt instruments. This guidance clarifies whether embedded contingent put and call options are clearly and closely related to the debt host when bifurcating embedded derivatives. Toyota adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. In October 2016, the FASB issued updated guidance for consolidation. Under this guidance, a reporting entity would evaluate its indirect economic interest in a variable interest entity held through a related party under common control on a proportionate basis. Toyota adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. In February 2018, the FASB issued updated guidance for comprehensive income. This guidance allows entities to reclassify tax effects stranded in accumulated other comprehensive incomes as a result of the Tax Cuts and Jobs Act of 2017 of the United States to retained earnings. Toyota early adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. |
Recent pronouncements to be adopted in future periods | Recent pronouncements to be adopted in future periods - In May 2014, the FASB issued updated guidance on the recognition of revenue from contracts with customers. This guidance requires an entity to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and supersedes the current revenue recognition guidance. In August 2015, the FASB issued updated guidance on the deferral of the effective date. As a result, this guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. This guidance may be adopted retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this guidance recognized at the date of initial application. Toyota will apply the modified retrospective method of adoption from the fiscal year beginning April 1, 2018. Management does not expect this guidance to have a material impact on Toyota’s consolidated financial statements. In January 2016, the FASB issued updated guidance for financial instruments. This guidance addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments and will require entities to measure equity investments at fair value and recognize any changes in fair value in net income. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Toyota will adopt this guidance from the fiscal year beginning April 1, 2018. Toyota will recognize a cumulative-effect adjustment to retained earnings of ¥1,125,109 million as of April 1, 2018 for after-tax unrealized gains of available-for-sale equity securities previously recognized in accumulated other comprehensive income. In February 2016, the FASB issued updated guidance for leases. This guidance will require lessees to recognize almost all leases on their balance sheet as a right-of-use In June 2016, the FASB issued updated guidance for measurement of credit losses on financial instruments. This guidance introduces an approach to estimate credit losses on certain types of financial instruments based on expected losses. It also modifies the impairment model for available-for-sale In August 2016, the FASB issued updated guidance for classification of statement of cash flows. This guidance clarifies classification of certain cash receipts and cash payments of statement of cash flows. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Management does not expect this guidance to have a material impact on Toyota’s consolidated financial statements. In October 2016, the FASB issued updated guidance that would require entities to recognize the income tax consequences of intercompany asset transfers other than inventory. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Management does not expect this guidance to have a material impact on Toyota’s consolidated financial statements. In November 2016, the FASB issued updated guidance for the statement of cash flows. This guidance will require that restricted cash and restricted cash equivalents should be included with cash and cash equivalents. It will also require entities to disclose how the statement of cash flows that includes restricted cash with cash and cash equivalents reconciles to the balance sheet. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Management does not expect this guidance to have a material impact on Toyota’s consolidated financial statements. In August 2017, the FASB issued updated guidance for hedge accounting. This guidance simplifies and expands the application of hedge accounting. This guidance is effective for fiscal year beginning after December 15, 2018, including interim periods within those fiscal years. Management is evaluating the impact of adopting this guidance on Toyota’s consolidated financial statements. |
Reclassifications | Reclassifications - Certain prior year amounts have been reclassified to conform to the presentations as of and for the year ended March 31, 2018. |
Summary of significant accoun37
Summary of significant accounting policies (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Finance Receivables on Nonaccrual Status | As of March 31, 2017 and 2018, finance receivables on nonaccrual status are as follows: Yen in millions March 31, 2017 2018 Retail 7,064 6,897 Finance leases 2,297 2,117 Wholesale 15,018 12,484 Real estate 12,632 13,856 Working capital 561 105 37,572 35,459 |
Finance Receivables 90 Days or More Past Due and Accruing | As of March 31, 2017 and 2018, finance receivables 90 days or more past due and accruing are as follows: Yen in millions March 31, 2017 2018 Retail 26,616 26,007 Finance leases 3,526 3,812 30,142 29,819 |
Marketable securities and oth38
Marketable securities and other securities investments (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Aggregate Cost, Gross Unrealized Gains and Losses and Fair Value of Marketable Securities and Other Securities Investments | Marketable securities and other securities investments include public and corporate bonds and common stocks for which the aggregate cost, gross unrealized gains and losses and fair value are as follows: Yen in millions March 31, 2017 Cost Gross Gross Fair value Available-for-sale Public and corporate bonds 5,789,221 145,640 49,030 5,885,831 Common stocks 668,345 2,018,910 321 2,686,934 Other 819,514 9,724 2,670 826,568 Total 7,277,080 2,174,274 52,021 9,399,333 Securities not practicable to determine fair value Public and corporate bonds 25,257 Common stocks 76,936 Total 102,193 Yen in millions March 31, 2018 Cost Gross Gross Fair value Available-for-sale Public and corporate bonds 6,276,811 150,198 118,275 6,308,734 Common stocks 676,959 1,910,767 5,611 2,582,115 Other 730,334 8,058 1,413 736,979 Total 7,684,104 2,069,023 125,299 9,627,828 Securities not practicable to determine fair value Public and corporate bonds 29,980 Common stocks 109,875 Total 139,855 |
Finance receivables (Tables)
Finance receivables (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Schedule of Finance Receivables | Finance receivables consist of the following: Yen in millions March 31, 2017 2018 Retail 11,453,352 11,995,174 Finance leases 1,265,882 1,460,600 Wholesale and other dealer loans 3,281,142 3,281,427 16,000,376 16,737,201 Deferred origination costs 172,298 181,764 Unearned income (804,591 ) (919,967 ) Allowance for credit losses Retail (104,354 ) (103,457 ) Finance leases (23,962 ) (28,817 ) Wholesale and other dealer loans (30,896 ) (36,800 ) Total allowance for credit losses (159,212 ) (169,074 ) Total finance receivables, net 15,208,871 15,829,924 Less - Current portion (6,196,649 ) (6,348,306 ) Noncurrent finance receivables, net 9,012,222 9,481,618 |
Summary of Contractual Maturities | The contractual maturities of retail receivables, the future minimum lease payments on finance leases and the contractual maturities of wholesale and other dealer loans at March 31, 2018 are summarized as follows: Yen in millions Years ending March 31, Retail Finance Wholesale 2019 3,887,959 370,916 2,431,231 2020 2,870,540 293,371 234,874 2021 2,269,797 228,764 140,295 2022 1,569,215 103,796 162,198 2023 884,871 37,134 121,654 Thereafter 512,792 5,122 191,175 11,995,174 1,039,103 3,281,427 |
Summary of Finance Leases | Finance leases consist of the following: Yen in millions March 31, 2017 2018 Minimum lease payments 889,522 1,039,103 Estimated unguaranteed residual values 376,360 421,497 1,265,882 1,460,600 Deferred origination costs 5,809 10,411 Less - Unearned income (103,518 ) (120,884 ) Less - Allowance for credit losses (23,962 ) (28,817 ) Finance leases, net 1,144,211 1,321,310 |
Amount of Finance Receivables Segregated into Aging Categories Based on Number of Days Outstanding | The table below shows the amount of the finance receivables segregated into aging categories based on the number of days outstanding as of March 31, 2017 and 2018: Yen in millions March 31, 2017 Retail Finance Wholesale Real estate Working Current 11,264,660 1,255,626 1,707,432 848,757 722,697 30-59 125,626 5,114 1,327 — 405 60-89 29,321 1,321 — — — 90 days or greater past due 33,745 3,821 — 266 258 Total 11,453,352 1,265,882 1,708,759 849,023 723,360 Yen in millions March 31, 2018 Retail Finance Wholesale Real estate Working Current 11,802,032 1,448,989 1,721,225 823,007 731,877 30-59 127,830 5,741 138 — — 60-89 32,408 1,760 5,112 — — 90 days or greater past due 32,904 4,110 — 65 3 Total 11,995,174 1,460,600 1,726,475 823,072 731,880 |
Recorded Investment for each Credit Quality of Finance Receivable within Wholesale and Other Dealer Loan Receivables Portfolio Segment in United States and Other Regions | The tables below show the recorded investment for each credit quality of the finance receivable within the wholesale and other dealer loan receivables portfolio segment in the United States and other regions as of March 31, 2017 and 2018: United States The wholesale and other dealer loan receivables portfolio segment is primarily segregated into credit qualities below based on internal risk assessments by dealers. Performing: Account not classified as either Credit Watch, At Risk or Default Credit Watch: Account designated for elevated attention At Risk: Account where there is an increased likelihood that default may exist based on qualitative and quantitative factors Default: Account is not currently meeting contractual obligations or we have temporarily waived certain contractual requirements Yen in millions March 31, 2017 Wholesale Real estate Working capital Total Performing 1,076,164 449,884 233,677 1,759,725 Credit Watch 142,336 68,726 16,049 227,111 At Risk 1,286 5,071 561 6,918 Default 8,791 5,079 544 14,414 Total 1,228,577 528,760 250,831 2,008,168 Yen in millions March 31, 2018 Wholesale Real estate Working capital Total Performing 1,005,030 432,397 225,442 1,662,869 Credit Watch 99,547 51,420 10,730 161,697 At Risk 7,968 3,081 3,506 14,555 Default 4,356 4,993 2,231 11,580 Total 1,116,901 491,891 241,909 1,850,701 Other regions Credit qualities of the wholesale and other dealer loan receivables portfolio segment in other regions are also monitored based on internal risk assessments by dealers on a consistent basis as in the United States. These accounts classified as “Credit Watch” or “At Risk” were not significant in other regions, and consequently the tables below summarize information for two categories, “Performing” and “Default”. Yen in millions March 31, 2017 Wholesale Real estate Working capital Total Performing 460,308 316,008 472,198 1,248,514 Default 19,874 4,255 331 24,460 Total 480,182 320,263 472,529 1,272,974 Yen in millions March 31, 2018 Wholesale Real estate Working capital Total Performing 585,760 323,581 489,801 1,399,142 Default 23,814 7,600 170 31,584 Total 609,574 331,181 489,971 1,430,726 |
Impaired Finance Receivables | The tables below summarize information about impaired finance receivables: Yen in millions Recorded investment Unpaid principal balance Individually evaluated allowance March 31, March 31, March 31, 2017 2018 2017 2018 2017 2018 Impaired account balances individually evaluated for impairment with an allowance: Wholesale 10,667 11,582 10,667 11,582 1,373 1,525 Real estate 10,986 9,353 10,986 9,353 1,596 588 Working capital 3,793 5,858 3,793 5,858 1,291 5,429 Total 25,446 26,793 25,446 26,793 4,260 7,542 Impaired account balances individually evaluated for impairment without an allowance: Wholesale 15,033 8,818 15,033 8,818 Real estate 11,780 15,086 11,780 15,086 Working capital — 2,337 — 2,337 Total 26,813 26,241 26,813 26,241 Impaired account balances aggregated and evaluated for impairment: Retail 27,269 27,151 26,597 26,418 Finance leases 66 100 54 74 Total 27,335 27,251 26,651 26,492 Total impaired account balances: Retail 27,269 27,151 26,597 26,418 Finance leases 66 100 54 74 Wholesale 25,700 20,400 25,700 20,400 Real estate 22,766 24,439 22,766 24,439 Working capital 3,793 8,195 3,793 8,195 Total 79,594 80,285 78,910 79,526 Yen in millions Average impaired finance receivables For the years ended March 31, 2017 2018 Total impaired account balances: Retail 26,628 27,664 Finance leases 76 83 Wholesale 26,306 23,171 Real estate 22,482 22,831 Working capital 4,208 5,818 Total 79,700 79,567 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Components of Inventories | Inventories consist of the following: Yen in millions March 31, 2017 2018 Finished goods 1,552,823 1,683,694 Raw materials 413,049 435,360 Work in process 309,387 304,929 Supplies and other 113,358 115,806 Total 2,388,617 2,539,789 |
Vehicles and equipment on ope41
Vehicles and equipment on operating leases (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Summary of Vehicles and Equipment on Operating Lease | Vehicles and equipment on operating leases consist of the following: Yen in millions March 31, 2017 2018 Vehicles 6,105,527 6,124,699 Equipment 13,096 13,373 Less - Deferred income and other (152,044 ) (203,679 ) 5,966,579 5,934,393 Less - Accumulated depreciation (1,263,774 ) (1,352,840 ) Less - Allowance for credit losses (18,889 ) (15,013 ) Vehicles and equipment on operating leases, net 4,683,916 4,566,540 |
Future Minimum Rentals from Vehicles and Equipment on Operating Leases | Future minimum rentals from vehicles and equipment on operating leases are due in installments as follows: Years ending March 31, Yen in millions 2019 769,926 2020 490,182 2021 221,216 2022 46,818 2023 11,675 Thereafter 1,478 Total minimum future rentals 1,541,295 |
Allowance for doubtful accoun42
Allowance for doubtful accounts and credit losses (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Allowance for Doubtful Accounts Relating to Trade Accounts and Notes Receivable | The net changes in the allowance for doubtful accounts relating to trade accounts and notes receivable for the years ended March 31, 2016, 2017 and 2018 are as follows: Yen in millions For the years ended March 31, 2016 2017 2018 Allowance for doubtful accounts at beginning of year 50,410 94,853 100,712 Provision for doubtful accounts, net of reversal 69,029 6,519 (74 ) Write-offs (20,649 ) (3,839 ) (2,374 ) Other (3,937 ) 3,179 326 Allowance for doubtful accounts at end of year 94,853 100,712 98,590 |
Allowance for Credit Losses Relating to Finance Receivables and Vehicles and Equipment on Operating Leases | The net changes in the allowance for credit losses relating to finance receivables and vehicles and equipment on operating leases for the years ended March 31, 2016, 2017 and 2018 are as follows: Yen in millions For the years ended March 31, 2016 2017 2018 Allowance for credit losses at beginning of year 178,038 167,330 178,101 Provision for credit losses, net of reversal 90,236 92,147 76,143 Charge-offs (102,948 ) (99,550 ) (96,444 ) Recoveries 22,356 21,757 25,344 Other (20,352 ) (3,583 ) 943 Allowance for credit losses at end of year 167,330 178,101 184,087 |
Allowance for Credit Losses Relating to Retail Receivables, Finance Lease Receivables and Wholesale and Other Dealer Loan Receivables Portfolio Segments | The net changes in the allowance for credit losses above relating to retail receivables portfolio segment, finance lease receivables portfolio segment and wholesale and other dealer loan receivables portfolio segment for the years ended March 31, 2016, 2017 and 2018 are as follows: Yen in millions For the year ended March 31, 2016 Retail Finance leases Wholesale and Allowance for credit losses at beginning of year 109,316 29,303 30,053 Provision for credit losses, net of reversal 65,677 1,742 4,962 Charge-offs (83,116 ) (3,833 ) (667 ) Recoveries 18,999 380 230 Other (12,023 ) (2,992 ) (3,750 ) Allowance for credit losses at end of year 98,853 24,600 30,828 Yen in millions For the year ended March 31, 2017 Retail Finance leases Wholesale and Allowance for credit losses at beginning of year 98,853 24,600 30,828 Provision for credit losses, net of reversal 67,433 1,657 854 Charge-offs (78,114 ) (2,007 ) (324 ) Recoveries 18,282 194 160 Other (2,100 ) (482 ) (622 ) Allowance for credit losses at end of year 104,354 23,962 30,896 Yen in millions For the year ended March 31, 2018 Retail Finance leases Wholesale and Allowance for credit losses at beginning of year 104,354 23,962 30,896 Provision for credit losses, net of reversal 52,891 7,115 6,497 Charge-offs (74,868 ) (2,708 ) (823 ) Recoveries 20,511 315 59 Other 569 133 171 Allowance for credit losses at end of year 103,457 28,817 36,800 |
Affiliated companies and vari43
Affiliated companies and variable interest entities (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Summary of Financial Information for Affiliated Companies Accounted for by Equity Method | Summarized financial information for affiliated companies accounted for by the equity method is shown below: Yen in millions March 31, 2017 2018 Current assets 11,795,296 12,766,962 Noncurrent assets 11,003,432 12,326,689 Total assets 22,798,728 25,093,651 Current liabilities 7,419,176 8,061,342 Long-term liabilities and noncontrolling interests 5,423,938 5,940,549 Affiliated companies accounted for by the equity method shareholders’ equity 9,955,614 11,091,760 Total liabilities and shareholders’ equity 22,798,728 25,093,651 Toyota’s share of affiliated companies accounted for by the equity method shareholders’ equity 2,845,422 3,162,711 Number of affiliated companies accounted for by the equity method at end of period 54 57 Yen in millions For the years ended March 31, 2016 2017 2018 Net revenues 31,037,029 30,309,263 30,680,535 Gross profit 3,852,899 3,644,267 4,065,344 Net income attributable to affiliated companies accounted for by the equity method 957,742 1,099,080 1,344,687 Equity in earnings of affiliated companies attributable to Toyota Motor Corporation 329,099 362,060 470,083 |
Entities Comprising Significant Portion of Toyota's Investment in Affiliated Companies and Percentage of Ownership | Entities comprising a significant portion of Toyota’s investment in affiliated companies and percentage of ownership are presented below: Percentage of ownership March 31, Name of affiliated companies 2017 2018 Denso Corporation 24.9 % 24.4 % Toyota Industries Corporation 24.9 % 24.9 % Aisin Seiki Co., Ltd. 24.1 % 24.9 % Toyota Tsusho Corporation 22.0 % 22.0 % Toyoda Gosei Co., Ltd. 43.0 % 43.0 % |
Account Balances and Transactions with Affiliated Companies | Account balances and transactions with affiliated companies are presented below: Yen in millions March 31, 2017 2018 Trade accounts and notes receivable, and other receivables 289,406 301,335 Accounts payable and other payables 691,173 736,023 Yen in millions For the years ended March 31, 2016 2017 2018 Net revenues 1,804,493 1,914,318 2,004,632 Purchases 4,359,854 5,357,682 5,749,430 |
Short-term borrowings and lon44
Short-term borrowings and long-term debt (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Short-term Borrowings | Short-term borrowings at March 31, 2017 and 2018 consist of the following: Yen in millions March 31, 2017 2018 Loans, principally from banks, with a weighted-average interest at March 31, 2017 and March 31, 2018 of 1.86% and of 2.14% per annum, respectively 1,125,324 1,254,444 Commercial paper with a weighted-average interest at March 31, 2017 and March 31, 2018 of 1.08% and of 1.65% per annum, respectively 3,828,358 3,900,469 4,953,682 5,154,913 |
Long-term Debt | Long-term debt at March 31, 2017 and 2018 comprises the following: Yen in millions March 31, 2017 2018 Unsecured loans, representing obligations principally to banks, due 2017 to 2036 in 2017 and due 2018 to 2036 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 2.44% and of 2.70% per annum, respectively 3,318,865 3,215,309 Secured loans, representing obligations principally to finance receivables securitization due 2017 to 2030 in 2017 and due 2018 to 2030 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 1.43% and of 1.99% per annum, respectively 2,080,362 1,963,057 Medium-term notes of consolidated subsidiaries, due 2017 to 2046 in 2017 and due 2018 to 2046 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 2.12% and of 2.18% per annum, respectively 6,923,511 6,994,629 Unsecured notes of parent company, due 2017 to 2036 in 2017 and due 2018 to 2037 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 1.35% and of 0.94% per annum, respectively 370,000 370,000 Unsecured notes of consolidated subsidiaries, due 2017 to 2032 in 2017 and due 2018 to 2031 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 2.17% and of 2.20% per annum, respectively 1,430,022 1,569,517 Secured notes of consolidated subsidiaries, due 2017 to 2020 in 2017 and due 2018 to 2021 in 2018 with a weighted-average interest at March 31, 2017 and March 31, 2018 of 8.14% and of 7.90% per annum, respectively 57,036 59,513 Long-term capital lease obligations, due 2017 to 2035 in 2017 and due 2018 to 2035 in 2018 with interest ranging from 0.37% to 14.73% per annum in 2017 and from 0.37% to 14.73% per annum in 2018 22,249 20,626 14,202,045 14,192,651 Less - Current portion due within one year (4,290,449 ) (4,186,277 ) 9,911,596 10,006,374 |
Aggregate Amounts of Annual Maturities of Long-term Debt During Next Five Years | The aggregate amounts of annual maturities of long-term debt during the next five years are as follows: Years ending March 31, Yen in millions 2019 4,186,277 2020 2,848,360 2021 2,398,498 2022 2,236,208 2023 1,612,872 |
Product warranties and recall45
Product warranties and recalls and other safety measures (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Net Changes in Liabilities for Quality Assurances | The net changes in liabilities for quality assurances above for the years ended March 31, 2016, 2017 and 2018 consist of the following: Yen in millions For the years ended March 31, 2016 2017 2018 Liabilities for quality assurances at beginning of year 1,328,916 1,403,764 1,696,938 Payments made during year (501,073 ) (604,853 ) (586,943 ) Provision for quality assurances 636,719 919,086 649,377 Changes relating to pre-existing (39,225 ) (24,147 ) (56,769 ) Other (21,573 ) 3,088 (291 ) Liabilities for quality assurances at end of year 1,403,764 1,696,938 1,702,312 |
Net Changes in Liabilities for Recalls and Other Safety Measures which are Comprised in Liabilities for Quality Assurances | The table below shows the net changes in liabilities for recalls and other safety measures which are comprised in liabilities for quality assurances above for the years ended March 31, 2016, 2017 and 2018. Yen in millions For the years ended March 31, 2016 2017 2018 Liabilities for recalls and other safety measures at beginning of year 755,050 925,475 1,275,200 Payments made during year (347,861 ) (444,416 ) (456,177 ) Provision for recalls and other safety measures 524,100 794,009 454,391 Other (5,814 ) 132 1,842 Liabilities for recalls and other safety measures at end of year 925,475 1,275,200 1,275,256 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Components of Income Before Income Taxes | The components of income before income taxes comprise the following: Yen in millions For the years ended March 31, 2016 2017 2018 Income before income taxes: Parent company and domestic subsidiaries 1,834,413 1,423,208 1,880,971 Foreign subsidiaries 1,148,968 770,617 739,458 2,983,381 2,193,825 2,620,429 |
Provision for Income Taxes | The provision for income taxes consists of the following: Yen in millions For the years ended March 31, 2016 2017 2018 Current income tax expense: Parent company and domestic subsidiaries 591,868 435,560 565,998 Foreign subsidiaries 253,512 246,639 176,369 Total current 845,380 682,199 742,367 Deferred income tax expense (benefit): Parent company and domestic subsidiaries (40,934 ) (21,756 ) 45,097 Foreign subsidiaries 73,823 (31,543 ) (283,058 ) Total deferred 32,889 (53,299 ) (237,961 ) Total provision 878,269 628,900 504,406 |
Reconciliation of Differences Between Statutory Tax Rate and Effective Income Tax Rate | Reconciliation of the differences between the statutory tax rate and the effective income tax rate is as follows: For the years ended March 31, 2016 2017 2018 Statutory tax rate 32.9 % 31.1 % 31.1 % Increase (reduction) in taxes resulting from: Non-deductible 0.3 0.4 0.4 Deferred tax liabilities on undistributed earnings of foreign subsidiaries 1.0 1.3 1.1 Deferred tax liabilities on undistributed earnings of affiliated companies accounted for by the equity method 2.4 3.3 3.8 Valuation allowance (0.4 ) (0.6 ) (2.0 ) Tax credits (4.7 ) (4.8 ) (4.3 ) The difference between the statutory tax rate in Japan and that of foreign subsidiaries (1.3 ) (1.9 ) (1.5 ) Unrecognized tax benefits adjustments 0.2 0.4 0.2 Revision to reduce deferred tax assets and liabilities at the fiscal year-end (0.5 ) — — Effect of the Tax Cuts and Jobs Act of 2017 of the United States — — (9.5 ) Other (0.5 ) (0.5 ) (0.1 ) Effective income tax rate 29.4 % 28.7 % 19.2 % |
Components of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities are as follows: Yen in millions March 31, 2017 2018 Deferred tax assets Accrued pension and severance costs 219,465 199,366 Accrued expenses and liabilities for quality assurances 644,936 609,257 Other accrued employees’ compensation 114,752 112,316 Operating loss carryforwards for tax purposes 76,317 203,897 Allowance for doubtful accounts and credit losses 82,916 63,223 Property, plant and equipment and other assets 234,372 249,320 Other 335,992 348,852 Gross deferred tax assets 1,708,750 1,786,231 Less - Valuation allowance (146,623 ) (93,814 ) Total deferred tax assets 1,562,127 1,692,417 Deferred tax liabilities Unrealized gains on securities, net (692,962 ) (635,292 ) Undistributed earnings of foreign subsidiaries (28,544 ) (29,967 ) Undistributed earnings of affiliated companies accounted for by the equity method (709,094 ) (794,485 ) Basis difference of acquired assets (31,861 ) (30,768 ) Lease transactions (973,000 ) (751,292 ) Other (46,407 ) (74,658 ) Gross deferred tax liabilities (2,481,868 ) (2,316,462 ) Net deferred tax liability (919,741 ) (624,045 ) The deferred tax assets and liabilities above that comprise the net deferred tax liability are included in the consolidated balance sheets as follows: Yen in millions March 31, 2017 2018 Deferred tax assets Investments and other assets - Other 503,985 494,120 Deferred tax liabilities Deferred income taxes (Long-term liabilities) (1,423,726 ) (1,118,165 ) Net deferred tax liability (919,741 ) (624,045 ) |
Net Changes in Total Valuation Allowance for Deferred Tax Assets | The net changes in the total valuation allowance for deferred tax assets for the years ended March 31, 2016, 2017 and 2018 consist of the following: Yen in millions For the years ended March 31, 2016 2017 2018 Valuation allowance at beginning of year 169,811 151,665 146,623 Additions 33,243 27,147 16,106 Deductions (43,723 ) (37,891 ) (74,435 ) Other (7,666 ) 5,702 5,520 Valuation allowance at end of year 151,665 146,623 93,814 |
Summary of Gross Unrecognized Tax Benefits Changes | A summary of the gross unrecognized tax benefits changes for the years ended March 31, 2016, 2017 and 2018 is as follows: Yen in millions For the years ended March 31, 2016 2017 2018 Balance at beginning of year 13,644 19,250 21,553 Additions based on tax positions related to the current year 1,001 8,187 612 Additions for tax positions of prior years 6,378 6,076 13,954 Reductions for tax positions of prior years (77 ) (5,593 ) (13,217 ) Reductions for tax positions related to lapse of statute of limitations (7 ) (9 ) — Reductions for settlements (427 ) (6,317 ) (26 ) Other (1,262 ) (41 ) (1,312 ) Balance at end of year 19,250 21,553 21,564 |
Class Shares (Tables)
Class Shares (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Additional Information Regarding Model AA Class Shares | Presented below is additional information regarding the Model AA Class Shares: Total number of shares issued : 47,100,000 shares Issue price : 10,598 yen per share Purchase price : 10,121.09 yen per share Voting rights : Model AA Class Shares shall have voting rights. The number of shares constituting one unit with respect to Model AA Class Shares shall be 100. Restrictions on transfer : Model AA Class Shares shall have restrictions on transfer. Dividends : (1) If the record date falls in the fiscal year ending on March 31, 2016: 0.5% of the issue price (2) If the record date falls in the fiscal year ending on March 31, 2017 through March 31, 2020: the annual dividend rate for the previous fiscal year plus 0.5% of the issue price (3) If the record date falls in the fiscal year ending on March 31, 2021 or later: 2.5% of the issue price Shareholder’s right : (1) Shareholder’s conversion right into Common Shares Shareholders of the Model AA Class Shares may demand TMC to acquire all or a part of their Model AA Class Shares in exchange for Common Shares on the first business day of April and October of every year, starting October 1, 2020. (2) Shareholder’s cash put option Shareholders of the Model AA Class Shares may demand TMC to acquire all or a part of their Model AA Class Shares in exchange for cash on the last business day of March, June, September and December of each year, starting on September 1, 2020. TMC’s right : TMC may acquire, on or after April 2, 2021, all of the outstanding Model AA Class Shares in exchange for cash. |
Shareholders' equity (Tables)
Shareholders' equity (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Changes in Number of Shares of Common Stock Issued | Changes in the number of shares of common stock issued have resulted from the following: For the years ended March 31, 2016 2017 2018 Common stock issued Balance at beginning of year 3,417,997,492 3,337,997,492 3,262,997,492 Issuance during the year — — — Purchase and retirement (80,000,000 ) (75,000,000 ) — Balance at end of year 3,337,997,492 3,262,997,492 3,262,997,492 |
Additional Information Regarding Repurchase, Reissuance and Retirement of Treasury Stock | The repurchase, reissuance and retirement of treasury stock for the years ended March 31, 2016, 2017 and 2018 are as follows: For the year ended March 31, 2016 Repurchase of treasury stock Reason for repurchasing treasury stock - The repurchase was made to avoid the dilution of common share value as a result of the issuance of the First Series Model AA Class Shares. Details of matters relating to repurchase - Number of common shares repurchased 47,100,000 shares Total purchase price for repurchase of shares ¥349,935 million Reason for repurchasing treasury stock - The repurchase was made to return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view of the business environment. Details of matters relating to repurchase - Number of common shares repurchased 62,942,900 shares Total purchase price for repurchase of shares ¥432,692 million Retirement of treasury stock Reason for retiring treasury stock - The retirement was made to relieve concerns regarding the dilution of common share value due to reissuanceof treasury stock in the future. Details of matters relating to retirement - Number of common shares retired 80,000,000 shares The amount on retirement of treasury stock was treated as a reduction in additional paid-in paid-in For the year ended March 31, 2017 Repurchase of treasury stock Reason for repurchasing treasury stock - The repurchase was made to return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view of the business environment. Details of matters relating to repurchase - Number of common shares repurchased 116,555,700 shares Total purchase price for repurchase of shares ¥699,986 million Reissuance of treasury stock Reason for reissuing treasury stock and details of matters relating to reissuance - On August 1, 2016, the parent company implemented share exchange as a result of which the parent company became a wholly owning parent company and Daihatsu Motor Co., Ltd. (“Daihatsu”) became a wholly owned subsidiary, and the parent company acquired additional shares of Daihatsu. As a result of this share exchange, the parent company issued 52,856,096 shares of treasury stock, treasury stock decreased by ¥283,561 million and gains on disposal of treasury stock occurred in the amount of ¥27,972 million. As a result, additional paid-in paid-in Retirement of treasury stock Reason for retiring treasury stock - The retirement was made to relieve concerns regarding the dilution of common share value due to reissuanceof treasury stock in the future. Details of matters relating to retirement - Number of common shares retired 75,000,000 shares The amount on retirement of treasury stock was treated as a reduction in additional paid-in paid-in For the year ended March 31, 2018 Repurchase of treasury stock Reason for repurchasing treasury stock - The repurchase was made to return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view of the business environment. Details of matters relating to repurchase - Number of common shares repurchased 73,708,400 shares Total purchase price for repurchase of shares ¥499,989 million Reissuance of treasury stock Reason for reissuing treasury stock - On August 4, 2017, the parent company and Mazda Motor Corporation (Mazda) signed an agreement to enter a business and capital alliance, with the aim of further strengthening their lasting partnership. The parent company acquired common stock newly issued by Mazda through a third-party allotment. Mazda acquired the parent company’s shares that were equivalent in value to the Mazda shares through a disposition of treasury stock involving a third-party allotment implemented by the parent company. Details of matters relating to reissuance - Number of common shares reissued 8,293,300 shares Amount of proceeds ¥50,000 million |
Accumulated other comprehensi49
Accumulated other comprehensive income (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Components of Accumulated Other Comprehensive Income (Loss) and Related Changes, Net of Taxes | Changes in accumulated other comprehensive income (loss) are as follows: Yen in millions Foreign Accumulated Balance at March 31, 2015 (136,090 ) 1,727,565 (113,930 ) 1,477,545 Other comprehensive income (loss) before reclassifications, net of taxes of ¥10,719 million, ¥130,092 million, ¥93,210 million and ¥234,021 million (423,404 ) (291,681 ) (214,600 ) (929,685 ) Reclassifications, net of taxes of ¥— million, ¥9,832 million, ¥(3,318) million and ¥6,514 million 28,052 (20,511 ) 5,419 12,960 Other comprehensive income (loss), net of tax (395,352 ) (312,192 ) (209,181 ) (916,725 ) Less - Other comprehensive income attributable to noncontrolling interests 32,387 9,572 7,989 49,948 Balance at March 31, 2016 (499,055 ) 1,424,945 (315,122 ) 610,768 Other comprehensive income (loss) before reclassifications, net of taxes of ¥9,240 million, ¥(9,048) million, ¥(40,099) million and ¥(39,907) million (57,926 ) 41,134 82,939 66,147 Reclassifications, net of taxes of ¥— million, ¥23,275 million, ¥(5,255) million and ¥18,020 million — (36,855 ) 10,373 (26,482 ) Other comprehensive income (loss), net of tax (57,926 ) 4,279 93,312 39,665 Less - Other comprehensive income attributable to noncontrolling interests 5,499 (12,281 ) (503 ) (7,285 ) Equity transaction with noncontrolling interests and other (8,626 ) 9,060 (2,660 ) (2,226 ) Balance at March 31, 2017 (560,108 ) 1,426,003 (224,973 ) 640,922 Other comprehensive income (loss) before reclassifications, net of taxes of ¥(3,624) million, ¥38,539 million, ¥(7,568) million and ¥27,347 million (113,942 ) (72,501 ) 15,814 (170,629 ) Reclassifications, net of taxes of ¥— million, ¥9,729 million, ¥(2,500) million and ¥7,229 million (6,664 ) (22,058 ) 6,501 (22,221 ) Other comprehensive income (loss), net of tax (120,606 ) (94,559 ) 22,315 (192,850 ) Less - Other comprehensive income attributable to noncontrolling interests 1,629 (2,022 ) (580 ) (973 ) Equity transaction with noncontrolling interests and other — 162 (11,562 ) (11,400 ) Balance at March 31, 2018 (679,085 ) 1,329,584 (214,800 ) 435,699 |
Reclassifications Out of Accumulated Other Comprehensive Income (Loss) | Reclassifications for the years ended March 31, 2016, 2017 and 2018 consist of the following: Yen in millions For the years ended March 31, Affected line items 2016 2017 2018 Foreign currency translation adjustments: 28,052 — (6,664 ) Other income (loss), net 28,052 — (6,664 ) Income before income taxes and equity in earnings of affiliated companies 28,052 — (6,664 ) Net income Unrealized gains (losses) on securities: (779 ) (24,553 ) (4,567 ) Financing operations (27,275 ) (3,572 ) (25,247 ) Foreign exchange gain (loss), net (6,185 ) (31,685 ) (1,993 ) Other income (loss), net (34,239 ) (59,810 ) (31,807 ) Income before income taxes and equity in earnings of affiliated companies 9,832 23,275 9,729 Provision for income taxes 3,896 (320 ) 20 Equity in earnings of affiliated companies (20,511 ) (36,855 ) (22,058 ) Net income Pension liability adjustments: Recognized net actuarial loss 12,971 19,432 12,914 *1 Amortization of prior service costs (4,234 ) (3,804 ) (3,913 ) *1 8,737 15,628 9,001 Income before income taxes and equity in earnings of affiliated companies (3,318 ) (5,255 ) (2,500 ) Provision for income taxes 5,419 10,373 6,501 Net income Total reclassifications, net of tax 12,960 (26,482 ) (22,221 ) Amounts of reclassifications in parentheses indicate gains in the consolidated statements of income. *1: These components are included in the computation of net periodic pension cost. See note 20 to the consolidated financial statements for additional information. |
Stock-based compensation (Table
Stock-based compensation (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Summary of Toyota's Stock Option Activity | The following table summarizes Toyota’s stock option activity: Yen Yen in Number of Weighted- Weighted- Aggregate Options outstanding at March 31, 2015 3,503,500 4,632 2.05 13,143 Granted — — Exercised (936,400 ) 5,049 Canceled (473,600 ) 6,917 Options outstanding at March 31, 2016 2,093,500 3,858 1.56 4,384 Granted — — Exercised (785,600 ) 4,006 Canceled (115,600 ) 4,682 Options outstanding at March 31, 2017 1,192,300 3,682 0.80 2,813 Granted — — Exercised (643,800 ) 3,726 Canceled (264,900 ) 4,154 Options outstanding at March 31, 2018 283,600 3,153 0.33 1,041 Options exercisable at March 31, 2016 2,093,500 3,858 1.56 4,384 Options exercisable at March 31, 2017 1,192,300 3,682 0.80 2,813 Options exercisable at March 31, 2018 283,600 3,153 0.33 1,041 |
Summary of Options Outstanding and Options Exercisable | The following table summarizes information for options outstanding and options exercisable at March 31, 2018: Outstanding Exercisable Number of Exercise price Remaining life Number of Exercise price Yen Years Yen 283,600 3,153 0.33 283,600 3,153 |
Employee benefit plans (Tables)
Employee benefit plans (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Information Regarding Defined Benefit Plans | Information regarding Toyota’s defined benefit plans is as follows: Yen in millions March 31, Japanese plans Foreign plans 2017 2018 2017 2018 Change in benefit obligation Benefit obligation at beginning of year 1,912,156 1,930,498 963,255 1,026,024 Service cost 89,443 88,964 41,733 35,887 Interest cost 8,800 13,252 35,593 37,817 Plan participants’ contributions 923 1,266 436 912 Plan amendments (21 ) (58 ) (996 ) (12 ) Net actuarial (gain) loss (45,783 ) 35,017 22,220 66,039 Acquisition and other 30,622 18,206 (18,778 ) (26,616 ) Benefits paid (65,642 ) (67,835 ) (17,439 ) (42,070 ) Benefit obligation at end of year 1,930,498 2,019,310 1,026,024 1,097,981 Change in plan assets Fair value of plan assets at beginning of year 1,369,236 1,483,889 692,801 758,306 Actual return on plan assets 81,600 111,278 74,760 89,924 Acquisition and other 30,266 14,615 (11,960 ) (16,009 ) Employer contributions 39,692 42,095 15,925 20,961 Plan participants’ contributions 923 1,266 436 912 Benefits paid (37,828 ) (40,264 ) (13,656 ) (38,611 ) Fair value of plan assets at end of year 1,483,889 1,612,879 758,306 815,483 Funded status 446,609 406,431 267,718 282,498 |
Amounts Recognized in Consolidated Balance Sheet Associated with Defined Benefit Plans | Amounts recognized in the consolidated balance sheets as of March 31, 2017 and 2018 are comprised of the following: Yen in millions March 31, Japanese plans Foreign plans 2017 2018 2017 2018 Accrued expenses (Accrued pension and severance costs) 28,265 27,718 2,936 2,982 Accrued pension and severance costs 633,774 647,134 271,296 284,048 Investments and other assets - Other (Prepaid pension and severance costs) (215,430 ) (268,421 ) (6,514 ) (4,532 ) Net amount recognized 446,609 406,431 267,718 282,498 |
Amounts Recognized in Accumulated Other Comprehensive Income (Loss) | Amounts recognized in accumulated other comprehensive income (loss) as of March 31, 2017 and 2018 are comprised of the following: Yen in millions March 31, Japanese plans Foreign plans 2017 2018 2017 2018 Net actuarial loss (288,126 ) (248,791 ) (116,700 ) (119,407 ) Prior service costs 36,980 32,812 (2,151 ) (1,826 ) Net transition obligation — — — — Net amount recognized (251,146 ) (215,979 ) (118,851 ) (121,233 ) |
Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for which Accumulated Benefit Obligations Exceed Plan Assets | The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for which the accumulated benefit obligations exceed plan assets are as follows: Yen in millions March 31, Japanese plans Foreign plans 2017 2018 2017 2018 Projected benefit obligation 892,684 833,080 445,482 490,844 Accumulated benefit obligation 866,566 806,774 426,201 468,611 Fair value of plan assets 242,488 170,234 178,357 201,402 |
Components of Net Periodic Pension Cost | Components of the net periodic pension cost are as follows: Yen in millions For the years ended March 31, Japanese plans Foreign plans 2016 2017 2018 2016 2017 2018 Service cost 78,611 89,443 88,964 47,544 41,733 35,887 Interest cost 17,509 8,800 13,252 40,340 35,593 37,817 Expected return on plan assets (35,012 ) (33,524 ) (36,409 ) (44,616 ) (38,893 ) (41,048 ) Amortization of prior service costs (4,669 ) (4,148 ) (4,226 ) 435 344 313 Recognized net actuarial loss 5,850 14,298 7,462 7,121 5,134 5,452 Amortization of net transition obligation — — — — — — Net periodic pension cost 62,289 74,869 69,043 50,824 43,911 38,421 |
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) | Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) are as follows: Yen in millions For the years ended March 31, Japanese plans Foreign plans 2016 2017 2018 2016 2017 2018 Net actuarial gain (loss) (290,664 ) 93,859 39,852 (11,242 ) 13,647 (17,163 ) Recognized net actuarial loss 5,850 14,298 7,462 7,121 5,134 5,452 Prior service costs 489 21 58 573 996 12 Amortization of prior service costs (4,669 ) (4,148 ) (4,226 ) 435 344 313 Amortization of net transition obligation — — — — — — Other 76 811 (7,979 ) 272 1,962 9,004 Total recognized in other comprehensive income (loss) (288,918 ) 104,841 35,167 (2,841 ) 22,083 (2,382 ) |
Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost | Weighted-average assumptions used to determine benefit obligations as of March 31, 2017 and 2018 are as follows: March 31, Japanese plans Foreign plans 2017 2018 2017 2018 Discount rate 0.7 % 0.7 % 4.0 % 3.9 % Rate of compensation increase 2.9 % 3.3 % 3.8 % 3.6 % Weighted-average assumptions used to determine net periodic pension cost for the years ended March 31, 2016, 2017 and 2018 are as follows: For the years ended March 31, Japanese plans Foreign plans 2016 2017 2018 2016 2017 2018 Discount rate 1.1 % 0.5 % 0.7 % 4.0 % 4.2 % 4.0 % Expected return on plan assets 2.5 % 2.4 % 2.4 % 6.3 % 6.1 % 6.0 % Rate of compensation increase 2.5 % 2.7 % 2.9 % 4.4 % 3.9 % 3.8 % |
Summary of Fair Value of Classes of Plan Assets | The following table summarizes the fair value of classes of plan assets as of March 31, 2017 and 2018. See note 27 to the consolidated financial statements for three levels of input which are used to measure fair value. Japanese plans Yen in millions March 31, 2017 Level 1 Level 2 Level 3 Total Equity securities Common stocks 585,052 — — 585,052 Commingled funds — 180,835 — 180,835 585,052 180,835 — 765,887 Debt securities Government bonds 87,958 — — 87,958 Commingled funds — 248,498 — 248,498 Other — 39,754 81 39,835 87,958 288,252 81 376,291 Insurance contracts — 199,779 — 199,779 Other 42,083 34,131 496 76,710 Investments measured at net asset value — — — 65,222 Total 715,093 702,997 577 1,483,889 Yen in millions March 31, 2018 Level 1 Level 2 Level 3 Total Equity securities Common stocks 620,281 — — 620,281 Commingled funds — 202,816 — 202,816 620,281 202,816 — 823,097 Debt securities Government bonds 88,959 — — 88,959 Commingled funds — 284,870 — 284,870 Other — 36,567 19 36,586 88,959 321,437 19 410,415 Insurance contracts — 201,141 — 201,141 Other 41,446 61,301 — 102,747 Investments measured at net asset value — — — 75,479 Total 750,686 786,695 19 1,612,879 Foreign plans Yen in millions March 31, 2017 Level 1 Level 2 Level 3 Total Equity securities Common stocks 207,036 — — 207,036 Commingled funds — 152,104 — 152,104 207,036 152,104 — 359,140 Debt securities Government bonds 76,730 — — 76,730 Commingled funds — 36,430 — 36,430 Other — 33,430 — 33,430 76,730 69,860 — 146,590 Insurance contracts — — — — Other 13,533 13,851 30,903 58,287 Investments measured at net asset value — — — 194,289 Total 297,299 235,815 30,903 758,306 Yen in millions March 31, 2018 Level 1 Level 2 Level 3 Total Equity securities Common stocks 178,476 — — 178,476 Commingled funds — 197,566 — 197,566 178,476 197,566 — 376,042 Debt securities Government bonds 89,928 — — 89,928 Commingled funds — 11,642 — 11,642 Other — 35,032 — 35,032 89,928 46,674 — 136,602 Insurance contracts — — — — Other 12,487 18,107 31,288 61,882 Investments measured at net asset value — — — 240,957 Total 280,891 262,347 31,288 815,483 |
Changes in Level 3 Plan Assets Measured At Fair Value | The following tables summarize the changes in Level 3 plan assets measured at fair value for the years ended March 31, 2016, 2017 and 2018: Japanese plans Yen in millions For the years ended March 31, 2016 2017 2018 Debt Other Total Debt Other Total Debt Other Total Balance at beginning of year 233 1,018 1,251 146 2,518 2,664 81 496 577 Actual return on plan assets 1 (3 ) (2 ) — (11 ) (11 ) — (4 ) (4 ) Purchases, sales and settlements (88 ) 1,503 1,415 (65 ) (2,011 ) (2,076 ) (62 ) (492 ) (554 ) Other — — — — — — — — — Balance at end of year 146 2,518 2,664 81 496 577 19 — 19 Foreign plans Yen in millions For the years ended March 31, 2016 2017 2018 Other Other Other Balance at beginning of year 17,511 30,758 30,903 Actual return on plan assets 1,966 279 2,024 Purchases, sales and settlements 12,372 — — Other (1,091 ) (134 ) (1,639 ) Balance at end of year 30,758 30,903 31,288 |
Expected Benefit Payments Associated with Pension and Postretirement Benefit Plans | The following pension benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Yen in millions Years ending March 31, Japanese plans Foreign plans 2019 72,756 21,972 2020 73,891 23,700 2021 74,890 25,089 2022 78,254 26,724 2023 82,433 28,552 from 2024 to 2028 429,821 167,337 Total 812,045 293,374 |
Derivative financial instrume52
Derivative financial instruments (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Fair Values of Derivative Financial Instruments | The following table summarizes the fair values of derivative financial instruments as of March 31, 2017 and 2018: Yen in millions March 31, 2017 2018 Derivative assets Derivative financial instruments designated as hedging instruments Interest rate and currency swap agreements Prepaid expenses and other current assets — 154 Investments and other assets - Other 662 668 Total 662 822 Undesignated derivative financial instruments Interest rate and currency swap agreements Prepaid expenses and other current assets 61,946 46,425 Investments and other assets - Other 168,292 175,635 Total 230,238 222,060 Foreign exchange forward and option contracts Prepaid expenses and other current assets 12,357 34,922 Investments and other assets - Other 164 — Total 12,521 34,922 Total derivative assets 243,421 257,804 Counterparty netting (84,883 ) (97,617 ) Collateral received (60,021 ) (92,146 ) Carrying value of derivative assets 98,517 68,041 Derivative liabilities Derivative financial instruments designated as hedging instruments Interest rate and currency swap agreements Other current liabilities (64 ) — Other long-term liabilities — — Total (64 ) — Undesignated derivative financial instruments Interest rate and currency swap agreements Other current liabilities (67,091 ) (34,716 ) Other long-term liabilities (158,383 ) (158,830 ) Total (225,474 ) (193,546 ) Foreign exchange forward and option contracts Other current liabilities (19,919 ) (3,610 ) Other long-term liabilities — — Total (19,919 ) (3,610 ) Total derivative liabilities (245,457 ) (197,156 ) Counterparty netting 84,883 97,617 Collateral posted 122,231 55,650 Carrying value of derivative liabilities (38,343 ) (43,889 ) |
Notional Amounts of Derivative Financial Instruments | The following table summarizes the notional amounts of derivative financial instruments as of March 31, 2017 and 2018: Yen in millions March 31, 2017 2018 Designated Undesignated Designated Undesignated Interest rate and currency swap agreements 40,837 19,459,677 12,643 19,895,085 Foreign exchange forward and option contracts — 2,772,741 — 2,731,534 Total 40,837 22,232,418 12,643 22,626,619 |
Gains and Losses on Derivative Financial Instruments and Hedged Items Reported in Consolidated Statement of Income | The following table summarizes the gains and losses on derivative financial instruments and hedged items reported in the consolidated statements of income for the years ended March 31, 2016, 2017 and 2018: Yen in millions For the years ended March 31, 2016 2017 2018 Gains or Gains or Gains or Gains or Gains or Gains or Derivative financial instruments designated as hedging instruments Interest rate and currency swap agreements Cost of financing operations (133 ) 122 (339 ) 1,212 782 (227 ) Undesignated derivative financial instruments Interest rate and currency swap agreements Cost of financing operations 119,096 (61,884 ) 42,220 Foreign exchange gain (loss), net (379 ) 12,516 30,339 Foreign exchange forward and option contracts Cost of financing operations (16,363 ) 2,614 6,442 Foreign exchange gain (loss), net 115,256 81,614 73,115 |
Other financial instruments (Ta
Other financial instruments (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Estimated Fair Value of Toyota's Financial Instrument, Excluding Marketable Securities, Other Securities Investments, Investments and Other Assets in Affiliated Companies and Derivative Financial Instruments | The following table summarizes the estimated fair values of Toyota’s financial instruments, excluding marketable securities, other securities investments, investments and other assets in affiliated companies and derivative financial instruments. See note 27 to the consolidated financial statements for three levels of input which are used to measure fair value. Yen in millions March 31, 2017 Estimated fair value Carrying amount Level 1 Level 2 Level 3 Total Assets (Liabilities) Cash and cash equivalents 2,995,075 2,103,469 891,606 — 2,995,075 Time deposits 1,082,654 — 1,082,654 — 1,082,654 Total finance receivables, net 14,064,660 — — 14,226,440 14,226,440 Other receivables 436,867 — — 436,867 436,867 Short-term borrowings (4,953,682 ) — (4,953,682 ) — (4,953,682 ) Long-term debt including the current portion (14,179,796 ) — (12,241,617 ) (2,065,884 ) (14,307,501 ) Yen in millions March 31, 2018 Estimated fair value Carrying amount Level 1 Level 2 Level 3 Total Assets (Liabilities) Cash and cash equivalents 3,052,269 2,278,060 774,209 — 3,052,269 Time deposits 901,244 — 901,244 — 901,244 Total finance receivables, net 14,508,614 — — 14,615,409 14,615,409 Other receivables 489,338 — — 489,338 489,338 Short-term borrowings (5,154,913 ) — (5,154,913 ) — (5,154,913 ) Long-term debt including the current portion (14,172,025 ) — (12,265,260 ) (1,940,888 ) (14,206,148 ) |
Lease commitments (Tables)
Lease commitments (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Analysis of Leased Assets Under Capital Leases | An analysis of leased assets under capital leases is as follows: Yen in millions March 31, 2017 2018 Class of property Building 18,775 17,934 Machinery and equipment 29,630 31,217 Less - Accumulated depreciation (28,703 ) (30,853 ) 19,702 18,298 |
Future Minimum Lease Payments Under Capital Leases Together with Present Value of Net Minimum Lease Payments | Future minimum lease payments under capital leases together with the present value of the net minimum lease payments as of March 31, 2018 are as follows: Years ending March 31, Yen in millions 2019 6,645 2020 3,892 2021 2,276 2022 1,921 2023 1,801 Thereafter 8,933 Total minimum lease payments 25,468 Less - Amount representing interest (4,842 ) Present value of net minimum lease payments 20,626 Less - Current obligations (5,796 ) Long-term capital lease obligations 14,830 |
Minimum Rental Payments Required Under Operating Leases Relating to Land, Buildings and Equipment | The minimum rental payments required under operating leases relating primarily to land, buildings and equipment having initial or remaining non-cancelable Years ending March 31, Yen in millions 2019 14,296 2020 11,375 2021 9,422 2022 8,403 2023 7,247 Thereafter 26,106 Total minimum future rentals 76,849 |
Segment data (Tables)
Segment data (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Segment Operating Results and Assets | Segment operating results and assets - As of and for the year ended March 31, 2016: Yen in millions Automotive Financial Services All Other Inter-segment Unallocated Amount Consolidated Net revenues Sales to external customers 25,923,813 1,854,007 625,298 — 28,403,118 Inter-segment sales and transfers 53,603 42,217 552,089 (647,909 ) — Total 25,977,416 1,896,224 1,177,387 (647,909 ) 28,403,118 Operating expenses 23,528,418 1,556,998 1,110,880 (647,149 ) 25,549,147 Operating income 2,448,998 339,226 66,507 (760 ) 2,853,971 Assets 15,621,757 21,709,010 1,917,148 8,179,682 47,427,597 Investment in equity method investees 2,532,644 9,168 10,801 78,776 2,631,389 Depreciation expenses 900,434 697,991 27,412 — 1,625,837 Capital expenditure 1,389,289 2,638,111 41,826 (10,010 ) 4,059,216 As of and for the year ended March 31, 2017: Yen in millions Automotive Financial All Other Inter-segment Consolidated Net revenues Sales to external customers 25,032,229 1,783,697 781,267 — 27,597,193 Inter-segment sales and transfers 49,618 39,903 539,785 (629,306 ) — Total 25,081,847 1,823,600 1,321,052 (629,306 ) 27,597,193 Operating expenses 23,388,874 1,601,172 1,239,725 (626,950 ) 25,602,821 Operating income 1,692,973 222,428 81,327 (2,356 ) 1,994,372 Assets 16,156,496 22,507,613 2,170,498 7,915,579 48,750,186 Investment in equity method investees 2,745,437 9,792 — 90,193 2,845,422 Depreciation expenses 912,797 671,155 26,998 — 1,610,950 Capital expenditure 1,293,564 2,182,149 53,710 12,014 3,541,437 As of and for the year ended March 31, 2018: Yen in millions Automotive Financial All Other Inter-segment Consolidated Net revenues Sales to external customers 26,347,229 1,959,234 1,073,047 — 29,379,510 Inter-segment sales and transfers 50,711 57,774 573,071 (681,556 ) — Total 26,397,940 2,017,008 1,646,118 (681,556 ) 29,379,510 Operating expenses 24,386,805 1,731,462 1,545,306 (683,925 ) 26,979,648 Operating income 2,011,135 285,546 100,812 2,369 2,399,862 Assets 17,054,209 23,055,981 2,178,118 8,019,941 50,308,249 Investment in equity method investees 3,054,583 11,713 — 96,415 3,162,711 Depreciation expenses 976,735 723,061 34,237 — 1,734,033 Capital expenditure 1,381,122 2,166,805 62,447 (11,667 ) 3,598,707 |
Geographic Information | Geographic information - As of and for the year ended March 31, 2016: Yen in millions Japan North Europe Asia Other Inter-segment Consolidated Net revenues Sales to external customers 8,588,437 10,822,772 2,507,292 4,475,623 2,008,994 — 28,403,118 Inter-segment sales and transfers 6,171,051 229,198 154,039 528,236 201,220 (7,283,744 ) — Total 14,759,488 11,051,970 2,661,331 5,003,859 2,210,214 (7,283,744 ) 28,403,118 Operating expenses 13,081,966 10,523,151 2,588,915 4,554,670 2,101,305 (7,300,860 ) 25,549,147 Operating income 1,677,522 528,819 72,416 449,189 108,909 17,116 2,853,971 Assets 14,291,434 16,622,979 2,612,210 4,415,700 2,579,113 6,906,161 47,427,597 Long-lived assets 3,210,376 4,958,989 309,657 869,989 391,406 — 9,740,417 As of and for the year ended March 31, 2017: Yen in millions Japan North Europe Asia Other Inter-segment Consolidated Net revenues Sales to external customers 8,798,903 10,033,419 2,517,601 4,279,617 1,967,653 — 27,597,193 Inter-segment sales and transfers 6,031,965 205,672 163,438 540,204 193,421 (7,134,700 ) — Total 14,830,868 10,239,091 2,681,039 4,819,821 2,161,074 (7,134,700 ) 27,597,193 Operating expenses 13,628,623 9,927,897 2,693,283 4,384,642 2,102,380 (7,134,004 ) 25,602,821 Operating income (loss) 1,202,245 311,194 (12,244 ) 435,179 58,694 (696 ) 1,994,372 Assets 14,791,969 17,365,237 2,846,469 4,486,021 2,819,935 6,440,555 48,750,186 Long-lived assets 3,376,157 5,274,928 313,182 828,619 404,223 — 10,197,109 As of and for the year ended March 31, 2018: Yen in millions Japan North Europe Asia Other Inter-segment Consolidated Net revenues Sales to external customers 9,273,672 10,347,266 2,940,243 4,497,374 2,320,955 — 29,379,510 Inter-segment sales and transfers 6,751,172 227,144 244,981 650,765 132,344 (8,006,406 ) — Total 16,024,844 10,574,410 3,185,224 5,148,139 2,453,299 (8,006,406 ) 29,379,510 Operating expenses 14,364,926 10,435,511 3,110,198 4,714,940 2,340,636 (7,986,563 ) 26,979,648 Operating income 1,659,918 138,899 75,026 433,199 112,663 (19,843 ) 2,399,862 Assets 15,797,024 16,936,704 3,346,179 4,893,582 2,986,661 6,348,099 50,308,249 Long-lived assets 3,511,663 5,179,139 359,355 797,435 420,081 — 10,267,673 |
Revenues that are Attributed to Countries Based on Location of Customers, Excluding Customers in Japan | The following information shows revenues that are attributed to countries based on location of customers, excluding customers in Japan. In addition to the disclosure requirements under U.S.GAAP, Toyota discloses this information in order to provide financial statements users with valuable information. Yen in millions For the years ended March 31, 2016 2017 2018 North America 10,797,304 10,054,431 10,403,647 Europe 2,323,399 2,341,364 2,730,915 Asia 4,292,800 4,414,236 4,793,110 Other 4,724,784 3,923,621 4,186,666 |
Balance Sheets - Non-financial Services and Financial Services Businesses | The financial data below presents separately Toyota’s non-financial Balance sheets - Yen in millions March 31, 2017 2018 Assets Non-Financial Current assets Cash and cash equivalents 2,257,064 2,390,524 Marketable securities 1,439,944 1,546,459 Trade accounts and notes receivable, less allowance for doubtful accounts 2,191,594 2,304,676 Inventories 2,388,394 2,539,497 Prepaid expenses and other current assets 1,988,016 1,818,687 Total current assets 10,265,012 10,599,843 Investments and other assets 11,276,128 11,861,394 Property, plant and equipment 5,700,818 5,901,958 Total Non-Financial 27,241,958 28,363,195 Financial Services Business Current assets Cash and cash equivalents 738,011 661,745 Marketable securities 381,654 221,901 Finance receivables, net 6,196,649 6,348,306 Prepaid expenses and other current assets 831,924 957,122 Total current assets 8,148,238 8,189,074 Noncurrent finance receivables, net 9,012,222 9,481,618 Investments and other assets 850,862 1,019,574 Property, plant and equipment 4,496,291 4,365,715 Total Financial Services Business assets 22,507,613 23,055,981 Eliminations (999,385 ) (1,110,927 ) Total assets 48,750,186 50,308,249 Assets in the non-financial Yen in millions March 31, 2017 2018 Liabilities Non-Financial Current liabilities Short-term borrowings 669,947 541,968 Current portion of long-term debt 196,227 179,994 Accounts payable 2,540,078 2,556,393 Accrued expenses 3,038,218 2,980,981 Income taxes payable 203,101 429,616 Other current liabilities 1,512,662 1,797,724 Total current liabilities 8,160,233 8,486,676 Long-term liabilities Long-term debt 590,366 642,691 Accrued pension and severance costs 890,684 917,133 Other long-term liabilities 1,206,427 1,111,843 Total long-term liabilities 2,687,477 2,671,667 Total Non-Financial 10,847,710 11,158,343 Financial Services Business Current liabilities Short-term borrowings 4,605,389 4,929,478 Current portion of long-term debt 4,129,005 4,053,538 Accounts payable 33,283 40,251 Accrued expenses 117,773 145,127 Income taxes payable 20,473 32,711 Other current liabilities 833,813 870,634 Total current liabilities 9,739,736 10,071,739 Long-term liabilities Long-term debt 9,491,504 9,574,118 Accrued pension and severance costs 14,386 14,049 Other long-term liabilities 987,289 678,858 Total long-term liabilities 10,493,179 10,267,025 Total Financial Services Business liabilities 20,232,915 20,338,764 Eliminations (999,392 ) (1,110,934 ) Total liabilities 30,081,233 30,386,173 Mezzanine equity 485,877 491,974 Total Toyota Motor Corporation shareholders’ equity 17,514,812 18,735,982 Noncontrolling interests 668,264 694,120 Total shareholders’ equity 18,183,076 19,430,102 Total liabilities, mezzanine equity and shareholders’ equity 48,750,186 50,308,249 |
Statements of Income - Non-financial Services and Financial Services Businesses | Statements of income - Yen in millions For the years ended March 31, 2016 2017 2018 Non-Financial Net revenues 26,581,102 25,845,453 27,448,165 Costs and expenses Cost of revenues 21,474,386 21,557,194 22,613,450 Selling, general and administrative 2,589,082 2,511,647 2,721,362 Total costs and expenses 24,063,468 24,068,841 25,334,812 Operating income 2,517,634 1,776,612 2,113,353 Other income (expense), net 117,930 200,370 222,326 Income before income taxes and equity in earnings of affiliated companies 2,635,564 1,976,982 2,335,679 Provision for income taxes 752,248 562,452 738,763 Equity in earnings of affiliated companies 327,167 360,130 467,718 Net income 2,210,483 1,774,660 2,064,634 Less - Net income attributable to noncontrolling interests (117,544 ) (89,337 ) (89,533 ) Net income attributable to Toyota Motor Corporation Non-Financial 2,092,939 1,685,323 1,975,101 Financial Services Business Net revenues 1,896,224 1,823,600 2,017,008 Costs and expenses Cost of revenues 1,181,437 1,221,268 1,320,348 Selling, general and administrative 375,561 379,904 411,114 Total costs and expenses 1,556,998 1,601,172 1,731,462 Operating income 339,226 222,428 285,546 Other income (expense), net 8,579 (5,618 ) (794 ) Income before income taxes and equity in earnings of affiliated companies 347,805 216,810 284,752 Provision for income taxes 126,319 66,583 (234,356 ) Equity in earnings of affiliated companies 1,932 1,930 2,365 Net income 223,418 152,157 521,473 Less - Net income attributable to noncontrolling interests (3,963 ) (6,518 ) (2,589 ) Net income attributable to Toyota Motor Corporation 219,455 145,639 518,884 Eliminations 300 147 (2 ) Net income attributable to Toyota Motor Corporation 2,312,694 1,831,109 2,493,983 |
Statement of Cash Flows - Non-financial Services and Financial Services Businesses | Statements of cash flows - Yen in millions Yen in millions For the year ended March 31, 2016 For the year ended March 31, 2017 Non-Financial Financial Consolidated Non-Financial Financial Consolidated Cash flows from operating activities Net income 2,210,483 223,418 2,434,211 1,774,660 152,157 1,926,985 Adjustments to reconcile net income to net cash provided by operating activities Depreciation 927,846 697,991 1,625,837 939,795 671,155 1,610,950 Provision for doubtful accounts and credit 69,029 90,236 159,265 6,519 92,147 98,666 Pension and severance costs, less payments 8,300 533 8,833 21,796 1,457 23,253 Losses on disposal of fixed assets 33,293 36 33,329 30,461 212 30,673 Unrealized losses on available-for-sale 3,217 6,055 9,272 4,422 2,651 7,073 Deferred income taxes (43,237 ) 76,423 32,889 (59,668 ) 6,504 (53,299 ) Equity in earnings of affiliated companies (327,167 ) (1,932 ) (329,099 ) (360,130 ) (1,930 ) (362,060 ) Changes in operating assets and liabilities, and other 386,529 148,376 486,320 206,455 103,840 131,996 Net cash provided by operating activities 3,268,293 1,241,136 4,460,857 2,564,310 1,028,193 3,414,237 Cash flows from investing activities Additions to finance receivables — (23,399,113 ) (13,549,278 ) — (22,894,114 ) (13,636,694 ) Collection of and proceeds from sales of finance receivables — 22,918,132 13,115,854 — 22,006,010 12,927,981 Additions to fixed assets excluding equipment leased to others (1,265,174 ) (17,371 ) (1,282,545 ) (1,206,738 ) (17,140 ) (1,223,878 ) Additions to equipment leased to others (155,931 ) (2,620,740 ) (2,776,671 ) (152,550 ) (2,165,009 ) (2,317,559 ) Proceeds from sales of fixed assets excluding equipment leased to others 41,154 993 42,147 40,189 1,049 41,238 Proceeds from sales of equipment leased to others 60,989 1,050,738 1,111,727 72,659 1,165,619 1,238,278 Purchases of marketable securities and security investments (1,302,965 ) (894,512 ) (2,197,477 ) (2,104,202 ) (412,806 ) (2,517,008 ) Proceeds from sales of and maturity of marketable securities and security investments 2,471,876 943,939 3,415,815 1,435,267 466,274 1,901,541 Payment for additional investments in affiliated companies, net of cash acquired 628 — 628 44,274 — 44,274 Changes in investments and other assets, and other (1,371,996 ) 296,788 (1,062,744 ) 582,649 (60,345 ) 571,888 Net cash used in investing activities (1,521,419 ) (1,721,146 ) (3,182,544 ) (1,288,452 ) (1,910,462 ) (2,969,939 ) Cash flows from financing activities Proceeds from issuance of long-term debt 110,691 4,815,323 4,845,872 111,727 4,541,541 4,603,446 Payments of long-term debt (71,758 ) (4,127,178 ) (4,176,202 ) (82,840 ) (3,773,644 ) (3,845,554 ) Increase (decrease) in short-term borrowings 75,990 (132,852 ) (10,903 ) 51,523 233,331 273,037 Proceeds from issuance of class shares 474,917 — 474,917 — — — Dividends paid to Toyota Motor Corporation class shareholders (1,225 ) — (1,225 ) (3,697 ) — (3,697 ) Dividends paid to Toyota Motor Corporation common shareholders (704,728 ) — (704,728 ) (634,475 ) — (634,475 ) Dividends paid to noncontrolling interests (73,129 ) — (73,129 ) (63,936 ) — (63,936 ) Reissuance (repurchase) of treasury stock, and (778,173 ) — (778,173 ) (703,986 ) — (703,986 ) Net cash provided by (used in) financing activities (967,415 ) 555,293 (423,571 ) (1,325,684 ) 1,001,228 (375,165 ) Effect of exchange rate changes on cash and cash equivalents (142,301 ) (57,570 ) (199,871 ) (11,262 ) (2,224 ) (13,486 ) Net increase (decrease) in cash and cash equivalents 637,158 17,713 654,871 (61,088 ) 116,735 55,647 Cash and cash equivalents at beginning of year 1,680,994 603,563 2,284,557 2,318,152 621,276 2,939,428 Cash and cash equivalents at end of year 2,318,152 621,276 2,939,428 2,257,064 738,011 2,995,075 Yen in millions For the year ended March 31, 2018 Non-Financial Financial Consolidated Cash flows from operating activities Net income 2,064,634 521,473 2,586,106 Adjustments to reconcile net income to net cash provided by operating activities Depreciation 1,010,972 723,061 1,734,033 Provision for doubtful accounts and credit losses (74 ) 76,143 76,069 Pension and severance costs, less payments 5,027 (741 ) 4,286 Losses on disposal of fixed assets 35,010 279 35,289 Unrealized losses on available-for-sale 459 387 846 Deferred income taxes 64,143 (302,103 ) (237,961 ) Equity in earnings of affiliated companies (467,718 ) (2,365 ) (470,083 ) Changes in operating assets and liabilities, and other 205,434 299,709 481,424 Net cash provided by operating activities 2,917,887 1,315,843 4,210,009 Cash flows from investing activities Additions to finance receivables — (25,153,088 ) (15,058,516 ) Collection of and proceeds from sales of finance receivables — 24,117,335 14,046,312 Additions to fixed assets excluding equipment leased to others (1,276,788 ) (14,329 ) (1,291,117 ) Additions to equipment leased to others (155,114 ) (2,152,476 ) (2,307,590 ) Proceeds from sales of fixed assets excluding equipment leased to others 70,755 1,065 71,820 Proceeds from sales of equipment leased to others 63,402 1,147,870 1,211,272 Purchases of marketable securities and security investments (2,273,805 ) (779,111 ) (3,052,916 ) Proceeds from sales of and maturity of marketable securities and security investments 1,762,189 761,349 2,523,538 Payment for additional investments in affiliated companies, net of cash acquired (576 ) — (576 ) Changes in investments and other assets, and other 260,015 (106,597 ) 197,681 Net cash used in investing activities (1,549,922 ) (2,177,982 ) (3,660,092 ) Cash flows from financing activities Proceeds from issuance of long-term debt 212,387 4,666,579 4,793,939 Payments of long-term debt (170,072 ) (4,314,294 ) (4,452,338 ) Increase (decrease) in short-term borrowings (122,222 ) 461,052 347,738 Proceeds from issuance of class shares — — — Dividends paid to Toyota Motor Corporation class shareholders (6,194 ) — (6,194 ) Dividends paid to Toyota Motor Corporation common shareholders (620,698 ) — (620,698 ) Dividends paid to noncontrolling interests (63,764 ) — (63,764 ) Reissuance (repurchase) of treasury stock, and other (447,818 ) — (447,818 ) Net cash provided by (used in) financing activities (1,218,381 ) 813,337 (449,135 ) Effect of exchange rate changes on cash and cash equivalents (16,124 ) (27,464 ) (43,588 ) Net increase (decrease) in cash and cash equivalents 133,460 (76,266 ) 57,194 Cash and cash equivalents at beginning of year 2,257,064 738,011 2,995,075 Cash and cash equivalents at end of year 2,390,524 661,745 3,052,269 |
Per share amounts (Tables)
Per share amounts (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Reconciliations of Differences Between Basic and Diluted Net Income Attributable to Toyota Motor Corporation Per Common Share | Reconciliations of the differences between basic and diluted net income attributable to Toyota Motor Corporation per common share for the years ended March 31, 2016, 2017 and 2018 are as follows: Yen in Thousands Yen Net income Weighted- Net income For the year ended March 31, 2016 Net income attributable to Toyota Motor Corporation 2,312,694 Accretion to Mezzanine equity (3,638 ) Dividends to Toyota Motor Corporation (2,449 ) Basic net income attributable to Toyota Motor Corporation 2,306,607 3,111,306 741.36 Effect of dilutive securities Model AA Class Shares 6,087 32,429 Assumed exercise of dilutive stock options (21 ) 1,212 Diluted net income attributable to Toyota Motor Corporation 2,312,673 3,144,947 735.36 For the year ended March 31, 2017 Net income attributable to Toyota Motor Corporation 1,831,109 Accretion to Mezzanine equity (4,849 ) Dividends to Toyota Motor Corporation (4,946 ) Basic net income attributable to Toyota Motor Corporation 1,821,314 3,008,088 605.47 Effect of dilutive securities Model AA Class Shares 9,795 47,100 Assumed exercise of dilutive stock options (6 ) 638 Diluted net income attributable to Toyota Motor Corporation 1,831,103 3,055,826 599.22 For the year ended March 31, 2018 Net income attributable to Toyota Motor Corporation 2,493,983 Accretion to Mezzanine equity (4,849 ) Dividends to Toyota Motor Corporation (7,442 ) Basic net income attributable to Toyota Motor Corporation 2,481,692 2,947,365 842.00 Effect of dilutive securities Model AA Class Shares 12,291 47,100 Assumed exercise of dilutive stock options (4 ) 301 Diluted net income attributable to Toyota Motor Corporation 2,493,979 2,994,766 832.78 |
Toyota Motor Corporation Shareholders' Equity Per Share | The following table shows Toyota Motor Corporation shareholders’ equity per share as of March 31, 2017 and 2018. Toyota Motor Corporation shareholders’ equity per share amounts are calculated by dividing Toyota Motor Corporation shareholders’ equities’ amount at the end of each period by the number of shares issued and outstanding, excluding treasury stock at the end of the corresponding period. Yen in Thousands Yen Toyota Motor Common shares at the end of the year Toyota Motor As of March 31, 2017 17,514,812 2,974,723 5,887.88 As of March 31, 2018 18,735,982 2,909,924 6,438.65 |
Fair value measurements (Tables
Fair value measurements (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Fair Values of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes the fair values of the assets and liabilities measured at fair value on a recurring basis as of March 31, 2017 and 2018. Transfers between levels of the fair value are recognized at the end of their respective reporting periods: Yen in millions March 31, 2017 Level 1 Level 2 Level 3 Total Assets Cash equivalents 41,876 891,606 — 933,482 Time deposits — 600,000 — 600,000 Marketable securities and other securities investments Public and corporate bonds 4,797,499 1,079,385 8,947 5,885,831 Common stocks 2,686,934 — — 2,686,934 Other 18,191 73,246 — 91,437 Investments measured at net asset value — — — 735,131 Derivative financial instruments — 243,334 87 243,421 Total 7,544,500 2,887,571 9,034 11,176,236 Liabilities Derivative financial instruments — (237,848 ) (7,609 ) (245,457 ) Total — (237,848 ) (7,609 ) (245,457 ) Yen in millions March 31, 2018 Level 1 Level 2 Level 3 Total Assets Cash equivalents 44,897 774,209 — 819,106 Time deposits — 400,000 — 400,000 Marketable securities and other securities investments Public and corporate bonds 4,778,019 1,523,227 7,488 6,308,734 Common stocks 2,582,115 — — 2,582,115 Other 169,282 50,746 — 220,028 Investments measured at net asset value — — — 516,951 Derivative financial instruments — 257,795 9 257,804 Total 7,574,313 3,005,977 7,497 11,104,738 Liabilities Derivative financial instruments — (194,935 ) (2,221 ) (197,156 ) Total — (194,935 ) (2,221 ) (197,156 ) |
Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes the changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the periods ended March 31, 2016, 2017 and 2018: Yen in millions For the year ended March 31, 2016 Marketable Derivative Total Balance at beginning of year 12,317 1,010 13,327 Total gains (losses) Included in income (loss) 1 2,507 2,508 Included in other comprehensive income (loss) (286 ) — (286 ) Purchases and issuances 931 — 931 Settlements (1,451 ) (479 ) (1,930 ) Other (1,178 ) (189 ) (1,367 ) Balance at end of year 10,334 2,849 13,183 Yen in millions For the year ended March 31, 2017 Marketable Derivative Total Balance at beginning of year 10,334 2,849 13,183 Total gains (losses) Included in income (loss) (16 ) (7,310 ) (7,326 ) Included in other comprehensive income (loss) 60 — 60 Purchases and issuances 1,126 — 1,126 Settlements (2,282 ) (2,693 ) (4,975 ) Other (275 ) (368 ) (643 ) Balance at end of year 8,947 (7,522 ) 1,425 Yen in millions For the year ended March 31, 2018 Marketable Derivative Total Balance at beginning of year 8,947 (7,522 ) 1,425 Total gains (losses) Included in income (loss) 17 805 822 Included in other comprehensive income (loss) (12 ) — (12 ) Purchases and issuances 3,860 — 3,860 Settlements (4,739 ) 4,320 (419 ) Other (585 ) 185 (400 ) Balance at end of year 7,488 (2,212 ) 5,276 |
Summary of significant accoun58
Summary of significant accounting policies - Additional Information (Detail) - JPY (¥) ¥ in Millions | Apr. 01, 2018 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Significant Accounting Policies [Line Items] | ||||
Investments in non-public companies stated at cost | Investments in non-public companies in which Toyota does not exercise significant influence (generally less than a 20% ownership interest) are stated at cost. | |||
Advertising costs | ¥ 509,653 | ¥ 448,780 | ¥ 489,036 | |
Research and development costs | 1,064,269 | 1,037,528 | ¥ 1,055,672 | |
Inventories, LIFO basis | 472,717 | 433,802 | ||
Inventory increase had LIFO been replaced by FIFO basis | ¥ 22,778 | ¥ 40,650 | ||
Intangible assets with a definite life, estimated useful lives | 5 years | |||
Cumulative-effect adjustment to retained earnings | ¥ 1,125,109 | |||
Building | Maximum | ||||
Significant Accounting Policies [Line Items] | ||||
Property, plant and equipment, estimated useful lives | 65 years | |||
Building | Minimum | ||||
Significant Accounting Policies [Line Items] | ||||
Property, plant and equipment, estimated useful lives | 2 years | |||
Machinery and equipment | Maximum | ||||
Significant Accounting Policies [Line Items] | ||||
Property, plant and equipment, estimated useful lives | 20 years | |||
Machinery and equipment | Minimum | ||||
Significant Accounting Policies [Line Items] | ||||
Property, plant and equipment, estimated useful lives | 2 years | |||
Assets Leased to Others | Maximum | ||||
Significant Accounting Policies [Line Items] | ||||
Property, plant and equipment, estimated useful lives | 5 years | |||
Assets Leased to Others | Minimum | ||||
Significant Accounting Policies [Line Items] | ||||
Property, plant and equipment, estimated useful lives | 2 years | |||
Retail Receivables Portfolio Segment | Maximum | ||||
Significant Accounting Policies [Line Items] | ||||
Contract period | 7 years | |||
Retail Receivables Portfolio Segment | Minimum | ||||
Significant Accounting Policies [Line Items] | ||||
Contract period | 2 years | |||
Finance Lease Receivables Portfolio Segment | Maximum | ||||
Significant Accounting Policies [Line Items] | ||||
Contract period | 5 years | |||
Finance Lease Receivables Portfolio Segment | Minimum | ||||
Significant Accounting Policies [Line Items] | ||||
Contract period | 2 years |
Summary of significant accoun59
Summary of significant accounting policies (Finance Receivables on Nonaccrual Status) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables on nonaccrual status | ¥ 35,459 | ¥ 37,572 |
Retail Receivables Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables on nonaccrual status | 6,897 | 7,064 |
Finance Lease Receivables Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables on nonaccrual status | 2,117 | 2,297 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables on nonaccrual status | 12,484 | 15,018 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables on nonaccrual status | 13,856 | 12,632 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Finance receivables on nonaccrual status | ¥ 105 | ¥ 561 |
Summary of significant accoun60
Summary of significant accounting policies (Finance Receivables 90 Days or More Past Due and Accruing) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Finance receivables past due over 90 days and still accruing | ¥ 29,819 | ¥ 30,142 |
Retail Receivables Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Finance receivables past due over 90 days and still accruing | 26,007 | 26,616 |
Finance Lease Receivables Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Finance receivables past due over 90 days and still accruing | ¥ 3,812 | ¥ 3,526 |
Supplemental cash flow inform61
Supplemental cash flow information - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Schedule of Cash Flow, Supplemental [Line Items] | |||
Cash payments for income taxes | ¥ 500,214 | ¥ 854,600 | ¥ 884,589 |
Interest payments | 422,720 | 362,602 | 381,280 |
Capital lease obligations incurred | ¥ 4,467 | ¥ 5,975 | ¥ 6,546 |
Acquisitions and dispositions -
Acquisitions and dispositions - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Business Acquisition [Line Items] | |||
Sales of products | ¥ 27,420,276 | ¥ 25,813,496 | ¥ 26,549,111 |
Misawa Homes Company Limited | |||
Business Acquisition [Line Items] | |||
Number of shares acquired | 11,181,798 | ||
Ownership interest percentage | 51.00% | ||
Sales of products | ¥ 130,046 |
Marketable securities and oth63
Marketable securities and other securities investments (Aggregate Cost, Gross Unrealized Gains and Losses and Fair Value of Marketable Securities and Other Securities Investments) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Gain (Loss) on Investments [Line Items] | ||
Cost | ¥ 7,684,104 | ¥ 7,277,080 |
Gross unrealized gains | 2,069,023 | 2,174,274 |
Gross unrealized losses | 125,299 | 52,021 |
Fair value | 9,627,828 | 9,399,333 |
Public and Corporate Bonds | ||
Gain (Loss) on Investments [Line Items] | ||
Cost | 6,276,811 | 5,789,221 |
Gross unrealized gains | 150,198 | 145,640 |
Gross unrealized losses | 118,275 | 49,030 |
Fair value | 6,308,734 | 5,885,831 |
Common stocks | ||
Gain (Loss) on Investments [Line Items] | ||
Cost | 676,959 | 668,345 |
Gross unrealized gains | 1,910,767 | 2,018,910 |
Gross unrealized losses | 5,611 | 321 |
Fair value | 2,582,115 | 2,686,934 |
Other | ||
Gain (Loss) on Investments [Line Items] | ||
Cost | 730,334 | 819,514 |
Gross unrealized gains | 8,058 | 9,724 |
Gross unrealized losses | 1,413 | 2,670 |
Fair value | 736,979 | 826,568 |
Securities not practicable to determine fair value | ||
Gain (Loss) on Investments [Line Items] | ||
Cost | 139,855 | 102,193 |
Securities not practicable to determine fair value | Public and Corporate Bonds | ||
Gain (Loss) on Investments [Line Items] | ||
Cost | 29,980 | 25,257 |
Securities not practicable to determine fair value | Common stocks | ||
Gain (Loss) on Investments [Line Items] | ||
Cost | ¥ 109,875 | ¥ 76,936 |
Marketable securities and oth64
Marketable securities and other securities investments - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Net Investment Income [Line Items] | |||
Proceeds from sales of available-for-sale securities | ¥ 248,046 | ¥ 251,940 | ¥ 108,708 |
Gross realized gains on sales of available-for-sale securities | 7,684 | 61,038 | 9,500 |
Gross realized losses on sales of available-for-sale securities | 278 | 108 | 365 |
Impairment losses recognized on available-for-sale securities | ¥ 846 | ¥ 7,073 | ¥ 9,272 |
Available-for-sale Securities | Public and Corporate Bonds | |||
Net Investment Income [Line Items] | |||
Maturity period for securities, minimum | 1 year | 1 year | |
Maturity period for securities, maximum | 10 years | 10 years | |
Japanese bonds | Available-for-sale Securities | Public and Corporate Bonds | |||
Net Investment Income [Line Items] | |||
Percentage of Assets | 16.00% | 28.00% | |
U.S., European and other bonds | Available-for-sale Securities | Public and Corporate Bonds | |||
Net Investment Income [Line Items] | |||
Percentage of Assets | 84.00% | 72.00% | |
Japan | Available-for-sale Securities | Common stocks | |||
Net Investment Income [Line Items] | |||
Percentage of Assets | 93.00% | 92.00% |
Finance receivables (Schedule o
Finance receivables (Schedule of Finance Receivables) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Finance receivables | ¥ 16,737,201 | ¥ 16,000,376 | ||
Deferred origination costs | 181,764 | 172,298 | ||
Unearned income | (919,967) | (804,591) | ||
Allowance for credit losses | (169,074) | (159,212) | ||
Total finance receivables, net | 15,829,924 | 15,208,871 | ||
Less - Current portion | (6,348,306) | (6,196,649) | ||
Noncurrent finance receivables, net | 9,481,618 | 9,012,222 | ||
Total finance receivables, net | 15,829,924 | 15,208,871 | ||
Retail Receivables Portfolio Segment | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Finance receivables | 11,995,174 | 11,453,352 | ||
Allowance for credit losses | (103,457) | (104,354) | ¥ (98,853) | ¥ (109,316) |
Finance Lease Receivables Portfolio Segment | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Finance receivables | 1,460,600 | 1,265,882 | ||
Allowance for credit losses | (28,817) | (23,962) | (24,600) | (29,303) |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Finance receivables | 3,281,427 | 3,281,142 | ||
Allowance for credit losses | ¥ (36,800) | ¥ (30,896) | ¥ (30,828) | ¥ (30,053) |
Finance receivables - Additiona
Finance receivables - Additional Information (Detail) - Geographic Concentration Ratio - Finance receivables | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
North America | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk Percentage | 55.70% | 59.10% |
Europe | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk Percentage | 12.10% | 10.30% |
Japan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk Percentage | 8.20% | 8.10% |
Asia | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk Percentage | 12.30% | 11.30% |
Other Countries | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk Percentage | 11.70% | 11.20% |
Finance receivables (Summary of
Finance receivables (Summary of Contractual Maturities) (Detail) ¥ in Millions | Mar. 31, 2018JPY (¥) |
Retail Receivables Portfolio Segment | |
Contractual Maturities [Line Items] | |
2,019 | ¥ 3,887,959 |
2,020 | 2,870,540 |
2,021 | 2,269,797 |
2,022 | 1,569,215 |
2,023 | 884,871 |
Thereafter | 512,792 |
Financing Receivables, Gross , Total | 11,995,174 |
Finance Lease Receivables Portfolio Segment | |
Contractual Maturities [Line Items] | |
2,019 | 370,916 |
2,020 | 293,371 |
2,021 | 228,764 |
2,022 | 103,796 |
2,023 | 37,134 |
Thereafter | 5,122 |
Financing Receivables, Gross , Total | 1,039,103 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | |
Contractual Maturities [Line Items] | |
2,019 | 2,431,231 |
2,020 | 234,874 |
2,021 | 140,295 |
2,022 | 162,198 |
2,023 | 121,654 |
Thereafter | 191,175 |
Financing Receivables, Gross , Total | ¥ 3,281,427 |
Finance receivables (Summary 68
Finance receivables (Summary of Finance Leases) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Schedule of Finance Lease Obligations [Line Items] | ||
Minimum lease payments | ¥ 1,039,103 | ¥ 889,522 |
Estimated unguaranteed residual values | 421,497 | 376,360 |
Capital Leases, Net Investment in Direct Financing Leases, Gross, Total | 1,460,600 | 1,265,882 |
Deferred origination costs | 10,411 | 5,809 |
Less - Unearned income | (120,884) | (103,518) |
Less - Allowance for credit losses | (28,817) | (23,962) |
Finance leases, net | ¥ 1,321,310 | ¥ 1,144,211 |
Finance receivables (Amount of
Finance receivables (Amount of Finance Receivables Segregated into Aging Categories Based on Number of Days Outstanding) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | ¥ 16,737,201 | ¥ 16,000,376 |
Retail Receivables Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 11,802,032 | 11,264,660 |
Total | 11,995,174 | 11,453,352 |
Retail Receivables Portfolio Segment | 30-59 days past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 127,830 | 125,626 |
Retail Receivables Portfolio Segment | 60-89 days past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 32,408 | 29,321 |
Retail Receivables Portfolio Segment | 90 days or greater past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 32,904 | 33,745 |
Finance Lease Receivables Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 1,448,989 | 1,255,626 |
Total | 1,460,600 | 1,265,882 |
Finance Lease Receivables Portfolio Segment | 30-59 days past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 5,741 | 5,114 |
Finance Lease Receivables Portfolio Segment | 60-89 days past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 1,760 | 1,321 |
Finance Lease Receivables Portfolio Segment | 90 days or greater past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 4,110 | 3,821 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 3,281,427 | 3,281,142 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 1,721,225 | 1,707,432 |
Total | 1,726,475 | 1,708,759 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | 30-59 days past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 138 | 1,327 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | 60-89 days past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 5,112 | |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 823,007 | 848,757 |
Total | 823,072 | 849,023 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | 90 days or greater past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 65 | 266 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 731,877 | 722,697 |
Total | 731,880 | 723,360 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | 30-59 days past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | 405 | |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | 90 days or greater past due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due | ¥ 3 | ¥ 258 |
Finance receivables (Credit Qua
Finance receivables (Credit Quality of Finance Receivable within Wholesale and Other Dealer Loan Receivables Portfolio Segment) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | ¥ 16,737,201 | ¥ 16,000,376 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 3,281,427 | 3,281,142 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | United States | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 1,850,701 | 2,008,168 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | United States | Performing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 1,662,869 | 1,759,725 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | United States | Credit Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 161,697 | 227,111 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | United States | At Risk | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 14,555 | 6,918 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | United States | Default | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 11,580 | 14,414 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Other Regions | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 1,430,726 | 1,272,974 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Other Regions | Performing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 1,399,142 | 1,248,514 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Other Regions | Default | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 31,584 | 24,460 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 1,726,475 | 1,708,759 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | United States | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 1,116,901 | 1,228,577 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | United States | Performing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 1,005,030 | 1,076,164 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | United States | Credit Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 99,547 | 142,336 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | United States | At Risk | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 7,968 | 1,286 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | United States | Default | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 4,356 | 8,791 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | Other Regions | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 609,574 | 480,182 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | Other Regions | Performing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 585,760 | 460,308 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | Other Regions | Default | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 23,814 | 19,874 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 823,072 | 849,023 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | United States | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 491,891 | 528,760 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | United States | Performing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 432,397 | 449,884 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | United States | Credit Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 51,420 | 68,726 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | United States | At Risk | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 3,081 | 5,071 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | United States | Default | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 4,993 | 5,079 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | Other Regions | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 331,181 | 320,263 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | Other Regions | Performing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 323,581 | 316,008 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | Other Regions | Default | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 7,600 | 4,255 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 731,880 | 723,360 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | United States | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 241,909 | 250,831 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | United States | Performing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 225,442 | 233,677 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | United States | Credit Watch | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 10,730 | 16,049 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | United States | At Risk | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 3,506 | 561 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | United States | Default | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 2,231 | 544 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | Other Regions | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 489,971 | 472,529 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | Other Regions | Performing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | 489,801 | 472,198 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | Other Regions | Default | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Finance Receivable | ¥ 170 | ¥ 331 |
Finance receivables (Impaired F
Finance receivables (Impaired Finance Receivables) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | ¥ 80,285 | ¥ 79,594 |
Unpaid principal balance | 79,526 | 78,910 |
Average recorded investment | 79,567 | 79,700 |
Retail Receivables Portfolio Segment | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 27,151 | 27,269 |
Unpaid principal balance | 26,418 | 26,597 |
Average recorded investment | 27,664 | 26,628 |
Finance Lease Receivables Portfolio Segment | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 100 | 66 |
Unpaid principal balance | 74 | 54 |
Average recorded investment | 83 | 76 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 20,400 | 25,700 |
Unpaid principal balance | 20,400 | 25,700 |
Average recorded investment | 23,171 | 26,306 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 24,439 | 22,766 |
Unpaid principal balance | 24,439 | 22,766 |
Average recorded investment | 22,831 | 22,482 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 8,195 | 3,793 |
Unpaid principal balance | 8,195 | 3,793 |
Average recorded investment | 5,818 | 4,208 |
Impaired account balances individually evaluated for impairment with an allowance | Wholesale and Other Dealer Loan Receivables Portfolio Segment | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 26,793 | 25,446 |
Unpaid principal balance | 26,793 | 25,446 |
Individually evaluated allowance | 7,542 | 4,260 |
Impaired account balances individually evaluated for impairment with an allowance | Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 11,582 | 10,667 |
Unpaid principal balance | 11,582 | 10,667 |
Individually evaluated allowance | 1,525 | 1,373 |
Impaired account balances individually evaluated for impairment with an allowance | Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 9,353 | 10,986 |
Unpaid principal balance | 9,353 | 10,986 |
Individually evaluated allowance | 588 | 1,596 |
Impaired account balances individually evaluated for impairment with an allowance | Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 5,858 | 3,793 |
Unpaid principal balance | 5,858 | 3,793 |
Individually evaluated allowance | 5,429 | 1,291 |
Impaired account balances individually evaluated for impairment without an allowance | Wholesale and Other Dealer Loan Receivables Portfolio Segment | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 26,241 | 26,813 |
Unpaid principal balance | 26,241 | 26,813 |
Impaired account balances individually evaluated for impairment without an allowance | Wholesale and Other Dealer Loan Receivables Portfolio Segment | Wholesale | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 8,818 | 15,033 |
Unpaid principal balance | 8,818 | 15,033 |
Impaired account balances individually evaluated for impairment without an allowance | Wholesale and Other Dealer Loan Receivables Portfolio Segment | Real estate | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 15,086 | 11,780 |
Unpaid principal balance | 15,086 | 11,780 |
Impaired account balances individually evaluated for impairment without an allowance | Wholesale and Other Dealer Loan Receivables Portfolio Segment | Working capital | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 2,337 | |
Unpaid principal balance | 2,337 | |
Impaired Account Balances Aggregated and Evaluated for Impairment | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 27,251 | 27,335 |
Unpaid principal balance | 26,492 | 26,651 |
Impaired Account Balances Aggregated and Evaluated for Impairment | Retail Receivables Portfolio Segment | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 27,151 | 27,269 |
Unpaid principal balance | 26,418 | 26,597 |
Impaired Account Balances Aggregated and Evaluated for Impairment | Finance Lease Receivables Portfolio Segment | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded investment | 100 | 66 |
Unpaid principal balance | ¥ 74 | ¥ 54 |
Inventories (Components of Inve
Inventories (Components of Inventories) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Inventory [Line Items] | ||
Finished goods | ¥ 1,683,694 | ¥ 1,552,823 |
Raw materials | 435,360 | 413,049 |
Work in process | 304,929 | 309,387 |
Supplies and other | 115,806 | 113,358 |
Total | ¥ 2,539,789 | ¥ 2,388,617 |
Vehicles and equipment on ope73
Vehicles and equipment on operating leases (Summary of Vehicles and Equipment on Operating Lease) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Property Subject to or Available for Operating Lease [Line Items] | ||
Less - Deferred income and other | ¥ (203,679) | ¥ (152,044) |
Vehicles and equipment on operating leases, gross | 5,934,393 | 5,966,579 |
Less - Accumulated depreciation | (1,352,840) | (1,263,774) |
Less - Allowance for credit losses | (15,013) | (18,889) |
Vehicles and equipment on operating leases, net | 4,566,540 | 4,683,916 |
Vehicles | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Vehicles and equipment on operating leases, gross | 6,124,699 | 6,105,527 |
Equipment | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Vehicles and equipment on operating leases, gross | ¥ 13,373 | ¥ 13,096 |
Vehicles and equipment on ope74
Vehicles and equipment on operating leases - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Leases Disclosure [Line Items] | |||
Rental income from vehicles and equipment on operating leases | ¥ 927,443 | ¥ 850,210 | ¥ 891,733 |
Vehicles and equipment on ope75
Vehicles and equipment on operating leases (Future Minimum Rentals from Vehicles and Equipment on Operating Leases) (Detail) ¥ in Millions | Mar. 31, 2018JPY (¥) |
Future Minimum Payments Receivable [Line Items] | |
2,019 | ¥ 769,926 |
2,020 | 490,182 |
2,021 | 221,216 |
2,022 | 46,818 |
2,023 | 11,675 |
Thereafter | 1,478 |
Total minimum future rentals | ¥ 1,541,295 |
Allowance for doubtful accoun76
Allowance for doubtful accounts and credit losses (Allowance for Doubtful Accounts Relating to Trade Accounts and Notes Receivable) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for doubtful accounts at beginning of year | ¥ 100,712 | ¥ 94,853 | ¥ 50,410 |
Provision for doubtful accounts, net of reversal | (74) | 6,519 | 69,029 |
Write-offs | (2,374) | (3,839) | (20,649) |
Other | 326 | 3,179 | (3,937) |
Allowance for doubtful accounts at end of year | ¥ 98,590 | ¥ 100,712 | ¥ 94,853 |
Allowance for doubtful accoun77
Allowance for doubtful accounts and credit losses - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Trade accounts and notes receivable, allowance for doubtful accounts, non-current | ¥ 72,665 | ¥ 50,602 |
Allowance for doubtful accoun78
Allowance for doubtful accounts and credit losses (Allowance for Credit Losses Relating to Finance Receivables and Vehicles and Equipment on Operating Leases) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses at beginning of year | ¥ 178,101 | ¥ 167,330 | ¥ 178,038 |
Provision for credit losses, net of reversal | 76,143 | 92,147 | 90,236 |
Charge-offs | (96,444) | (99,550) | (102,948) |
Recoveries | 25,344 | 21,757 | 22,356 |
Other | 943 | (3,583) | (20,352) |
Allowance for credit losses at end of year | ¥ 184,087 | ¥ 178,101 | ¥ 167,330 |
Allowance for doubtful accoun79
Allowance for doubtful accounts and credit losses (Allowance for Credit Losses Relating to Retail Receivables, Finance Lease Receivables and Wholesale and Other Dealer Loan Receivables Portfolio Segments) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses at beginning of year | ¥ 159,212 | ||
Allowance for credit losses at end of year | 169,074 | ¥ 159,212 | |
Retail Receivables Portfolio Segment | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses at beginning of year | 104,354 | 98,853 | ¥ 109,316 |
Provision for credit losses, net of reversal | 52,891 | 67,433 | 65,677 |
Charge-offs | (74,868) | (78,114) | (83,116) |
Recoveries | 20,511 | 18,282 | 18,999 |
Other | 569 | (2,100) | (12,023) |
Allowance for credit losses at end of year | 103,457 | 104,354 | 98,853 |
Finance Lease Receivables Portfolio Segment | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses at beginning of year | 23,962 | 24,600 | 29,303 |
Provision for credit losses, net of reversal | 7,115 | 1,657 | 1,742 |
Charge-offs | (2,708) | (2,007) | (3,833) |
Recoveries | 315 | 194 | 380 |
Other | 133 | (482) | (2,992) |
Allowance for credit losses at end of year | 28,817 | 23,962 | 24,600 |
Wholesale and Other Dealer Loan Receivables Portfolio Segment | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for credit losses at beginning of year | 30,896 | 30,828 | 30,053 |
Provision for credit losses, net of reversal | 6,497 | 854 | 4,962 |
Charge-offs | (823) | (324) | (667) |
Recoveries | 59 | 160 | 230 |
Other | 171 | (622) | (3,750) |
Allowance for credit losses at end of year | ¥ 36,800 | ¥ 30,896 | ¥ 30,828 |
Affiliated companies and vari80
Affiliated companies and variable interest entities (Summary of Financial Information for Affiliated Companies Accounted for by Equity Method) (Detail) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018JPY (¥)Entity | Mar. 31, 2017JPY (¥)Entity | Mar. 31, 2016JPY (¥) | |
Schedule of Equity Method Investments [Line Items] | |||
Current assets | ¥ 12,766,962 | ¥ 11,795,296 | |
Noncurrent assets | 12,326,689 | 11,003,432 | |
Total assets | 25,093,651 | 22,798,728 | |
Current liabilities | 8,061,342 | 7,419,176 | |
Long-term liabilities and noncontrolling interests | 5,940,549 | 5,423,938 | |
Affiliated companies accounted for by the equity method shareholders' equity | 11,091,760 | 9,955,614 | |
Total liabilities and shareholders' equity | 25,093,651 | 22,798,728 | |
Toyota's share of affiliated companies accounted for by the equity method shareholders' equity | ¥ 3,162,711 | ¥ 2,845,422 | ¥ 2,631,389 |
Number of affiliated companies accounted for by the equity method at end of period | Entity | 57 | 54 | |
Net revenues | ¥ 30,680,535 | ¥ 30,309,263 | 31,037,029 |
Gross profit | 4,065,344 | 3,644,267 | 3,852,899 |
Net income attributable to affiliated companies accounted for by the equity method | 1,344,687 | 1,099,080 | 957,742 |
Equity in earnings of affiliated companies attributable to Toyota Motor Corporation | ¥ 470,083 | ¥ 362,060 | ¥ 329,099 |
Affiliated companies and vari81
Affiliated companies and variable interest entities (Entities Comprising Significant Portion of Toyota's Investment in Affiliated Companies and Percentage of Ownership) (Detail) | Mar. 31, 2018 | Mar. 31, 2017 |
Denso Corporation | ||
Schedule of Equity Method Investments [Line Items] | ||
Percentage of ownership | 24.40% | 24.90% |
Toyota Industries Corporation | ||
Schedule of Equity Method Investments [Line Items] | ||
Percentage of ownership | 24.90% | 24.90% |
Aisin Seiki Co Ltd | ||
Schedule of Equity Method Investments [Line Items] | ||
Percentage of ownership | 24.90% | 24.10% |
Toyota Tsusho Corporation | ||
Schedule of Equity Method Investments [Line Items] | ||
Percentage of ownership | 22.00% | 22.00% |
Toyoda Gosei Co Ltd | ||
Schedule of Equity Method Investments [Line Items] | ||
Percentage of ownership | 43.00% | 43.00% |
Affiliated companies and vari82
Affiliated companies and variable interest entities - Additional Information (Detail) - JPY (¥) | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Schedule of Equity Method Investments [Line Items] | |||
Certain affiliated companies accounted for by the equity method | ¥ 2,334,642,000,000 | ¥ 2,126,128,000,000 | |
Affiliated companies aggregate value | 3,145,940,000,000 | 2,894,106,000,000 | |
Impairment loss on a certain investment in affiliated company accounted for by the equity method | 0 | 0 | ¥ 0 |
Dividends from affiliated companies accounted for by the equity method | 196,403,000,000 | 180,326,000,000 | ¥ 186,212,000,000 |
Finance receivables | 15,829,924,000,000 | 15,208,871,000,000 | |
Operating leases | 5,934,393,000,000 | 5,966,579,000,000 | |
Maximum exposure to loss related to VIEs | 446,778,000,000 | 539,862,000,000 | |
Vehicles | |||
Schedule of Equity Method Investments [Line Items] | |||
Operating leases | 6,124,699,000,000 | 6,105,527,000,000 | |
Variable Interest Entity, Primary Beneficiary | |||
Schedule of Equity Method Investments [Line Items] | |||
Restricted cash | 146,828,000,000 | 151,943,000,000 | |
Secured debt | 1,952,973,000,000 | 2,067,221,000,000 | |
Variable Interest Entity, Primary Beneficiary | Vehicles | |||
Schedule of Equity Method Investments [Line Items] | |||
Operating leases | 618,787,000,000 | 557,383,000,000 | |
Retail Receivables Portfolio Segment | Variable Interest Entity, Primary Beneficiary | |||
Schedule of Equity Method Investments [Line Items] | |||
Finance receivables | ¥ 1,964,350,000,000 | ¥ 2,092,311,000,000 |
Affiliated companies and vari83
Affiliated companies and variable interest entities (Account Balances and Transactions with Affiliated Companies) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Schedule of Equity Method Investments [Line Items] | |||
Trade accounts and notes receivable, and other receivables | ¥ 301,335 | ¥ 289,406 | |
Accounts payable and other payables | 736,023 | 691,173 | |
Net revenues | 2,004,632 | 1,914,318 | ¥ 1,804,493 |
Purchases | ¥ 5,749,430 | ¥ 5,357,682 | ¥ 4,359,854 |
Short-term borrowings and lon84
Short-term borrowings and long-term debt (Short-term Borrowings) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Short-term Debt [Line Items] | ||
Loans, principally from banks, with a weighted-average interest at March 31, 2017 and March 31, 2018 of 1.86% and of 2.14% per annum, respectively | ¥ 1,254,444 | ¥ 1,125,324 |
Commercial paper with a weighted-average interest at March 31, 2017 and March 31, 2018 of 1.08% and of 1.65% per annum, respectively | 3,900,469 | 3,828,358 |
Short-term borrowings | ¥ 5,154,913 | ¥ 4,953,682 |
Short-term borrowings and lon85
Short-term borrowings and long-term debt (Short-term Borrowings) (Parenthetical) (Detail) | Mar. 31, 2018 | Mar. 31, 2017 |
Short Term Bank Loans and Notes Payable | ||
Short-term Debt [Line Items] | ||
Short-term borrowings, weighted-average interest rate | 2.14% | 1.86% |
Commercial Paper | ||
Short-term Debt [Line Items] | ||
Short-term borrowings, weighted-average interest rate | 1.65% | 1.08% |
Short-term borrowings and lon86
Short-term borrowings and long-term debt - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Debt Instrument [Line Items] | |||
Unused short-term lines of credit | ¥ 1,712,315 | ||
Assets pledged as collateral mainly for certain debt obligations of subsidiaries | 658,675 | ||
Other assets pledged as collateral mainly for certain debt obligations of subsidiaries | 2,052,752 | ||
Unused long-term lines of credit | 6,728,922 | ||
Debt interest expense | ¥ 415,094 | ¥ 352,691 | ¥ 377,310 |
Currency, U.S. Dollar | |||
Debt Instrument [Line Items] | |||
Percentage of debt | 48.00% | ||
Currency, Japanese Yen | |||
Debt Instrument [Line Items] | |||
Percentage of debt | 11.00% | ||
Euro Member Countries, Euro | |||
Debt Instrument [Line Items] | |||
Percentage of debt | 10.00% | ||
Currency, Australian Dollar | |||
Debt Instrument [Line Items] | |||
Percentage of debt | 9.00% | ||
Canada, Dollars | |||
Debt Instrument [Line Items] | |||
Percentage of debt | 6.00% | ||
Other Foreign Currency Denominated Debt | |||
Debt Instrument [Line Items] | |||
Percentage of debt | 16.00% | ||
Commercial Paper | |||
Debt Instrument [Line Items] | |||
Unused short-term lines of credit | ¥ 245,797 |
Short-term borrowings and lon87
Short-term borrowings and long-term debt (Long-term Debt) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Debt Instrument [Line Items] | ||
Long-term Debt and Capital Lease Obligations, Including Current Maturities, Total | ¥ 14,192,651 | ¥ 14,202,045 |
Less - Current portion due within one year | (4,186,277) | (4,290,449) |
Long-term debt | 10,006,374 | 9,911,596 |
Unsecured Debt | Bank Loan Obligations | ||
Debt Instrument [Line Items] | ||
Long-term debt | 3,215,309 | 3,318,865 |
Secured Debt | Finance Receivables Securitization | ||
Debt Instrument [Line Items] | ||
Long-term debt | 1,963,057 | 2,080,362 |
Medium-term Notes | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Long-term debt | 6,994,629 | 6,923,511 |
Unsecured Notes | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Long-term debt | 1,569,517 | 1,430,022 |
Unsecured Notes | Parent Company | ||
Debt Instrument [Line Items] | ||
Long-term debt | 370,000 | 370,000 |
Secured Notes | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Long-term debt | 59,513 | 57,036 |
Capital Lease Obligations | ||
Debt Instrument [Line Items] | ||
Long-term capital lease obligations | ¥ 20,626 | ¥ 22,249 |
Short-term borrowings and lon88
Short-term borrowings and long-term debt (Long-term Debt) (Parenthetical) (Detail) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Medium-term Notes | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Long-term debt, weighted average interest rate | 2.18% | 2.12% |
Medium-term Notes | Range Start | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,018 | 2,017 |
Medium-term Notes | Range End | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,046 | 2,046 |
Unsecured Notes | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Long-term debt, weighted average interest rate | 2.20% | 2.17% |
Unsecured Notes | Parent Company | ||
Debt Instrument [Line Items] | ||
Long-term debt, weighted average interest rate | 0.94% | 1.35% |
Unsecured Notes | Range Start | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,018 | 2,017 |
Unsecured Notes | Range Start | Parent Company | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,018 | 2,017 |
Unsecured Notes | Range End | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,031 | 2,032 |
Unsecured Notes | Range End | Parent Company | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,037 | 2,036 |
Secured Notes | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Long-term debt, weighted average interest rate | 7.90% | 8.14% |
Secured Notes | Range Start | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,018 | 2,017 |
Secured Notes | Range End | Consolidated Subsidiaries | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,021 | 2,020 |
Capital Lease Obligations | Minimum | ||
Debt Instrument [Line Items] | ||
Long-term debt, interest rate | 0.37% | 0.37% |
Capital Lease Obligations | Maximum | ||
Debt Instrument [Line Items] | ||
Long-term debt, interest rate | 14.73% | 14.73% |
Capital Lease Obligations | Range Start | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,018 | 2,017 |
Capital Lease Obligations | Range End | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,035 | 2,035 |
Bank Loan Obligations | Unsecured Debt | ||
Debt Instrument [Line Items] | ||
Long-term debt, weighted average interest rate | 2.70% | 2.44% |
Bank Loan Obligations | Unsecured Debt | Range Start | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,018 | 2,017 |
Bank Loan Obligations | Unsecured Debt | Range End | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,036 | 2,036 |
Finance Receivables Securitization | Secured Debt | ||
Debt Instrument [Line Items] | ||
Long-term debt, weighted average interest rate | 1.99% | 1.43% |
Finance Receivables Securitization | Secured Debt | Range Start | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,018 | 2,017 |
Finance Receivables Securitization | Secured Debt | Range End | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,030 | 2,030 |
Short-term borrowings and lon89
Short-term borrowings and long-term debt (Aggregate Amounts of Annual Maturities of Long-term Debt During Next Five Years) (Detail) ¥ in Millions | Mar. 31, 2018JPY (¥) |
Long Term Debt And Capital Lease Obligations Repayments Of Principal [Line Items] | |
2,019 | ¥ 4,186,277 |
2,020 | 2,848,360 |
2,021 | 2,398,498 |
2,022 | 2,236,208 |
2,023 | ¥ 1,612,872 |
Product warranties and recall90
Product warranties and recalls and other safety measures (Net Changes in Liabilities for Quality Assurances) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Product Liability Contingency [Line Items] | |||
Liabilities for quality assurances at beginning of year | ¥ 1,696,938 | ¥ 1,403,764 | ¥ 1,328,916 |
Payments made during year | (586,943) | (604,853) | (501,073) |
Provision for quality assurances | 649,377 | 919,086 | 636,719 |
Changes relating to pre-existing quality assurances | (56,769) | (24,147) | (39,225) |
Other | (291) | 3,088 | (21,573) |
Liabilities for quality assurances at end of year | ¥ 1,702,312 | ¥ 1,696,938 | ¥ 1,403,764 |
Product warranties and recall91
Product warranties and recalls and other safety measures (Net Changes in Liabilities for Recalls and Other Safety Measures which are Comprised in Liabilities for Quality Assurances) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Product Liability Contingency [Line Items] | |||
Liabilities for recalls and other safety measures at beginning of year | ¥ 1,275,200 | ¥ 925,475 | ¥ 755,050 |
Payments made during year | (456,177) | (444,416) | (347,861) |
Provision for recalls and other safety measures | 454,391 | 794,009 | 524,100 |
Other | 1,842 | 132 | (5,814) |
Liabilities for recalls and other safety measures at end of year | ¥ 1,275,256 | ¥ 1,275,200 | ¥ 925,475 |
Income taxes (Components of Inc
Income taxes (Components of Income Before Income Taxes) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Income before income taxes: | |||
Parent company and domestic subsidiaries | ¥ 1,880,971 | ¥ 1,423,208 | ¥ 1,834,413 |
Foreign subsidiaries | 739,458 | 770,617 | 1,148,968 |
Income before income taxes and equity in earnings of affiliated companies | ¥ 2,620,429 | ¥ 2,193,825 | ¥ 2,983,381 |
Income taxes (Provision for Inc
Income taxes (Provision for Income Taxes) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Current income tax expense: | |||
Current income tax expense | ¥ 742,367 | ¥ 682,199 | ¥ 845,380 |
Deferred income tax expense (benefit): | |||
Deferred income tax expense (benefit) | (237,961) | (53,299) | 32,889 |
Provision for income taxes | 504,406 | 628,900 | 878,269 |
Parent Company And Domestic Subsidiaries | |||
Current income tax expense: | |||
Current income tax expense | 565,998 | 435,560 | 591,868 |
Deferred income tax expense (benefit): | |||
Deferred income tax expense (benefit) | 45,097 | (21,756) | (40,934) |
Foreign Subsidiaries | |||
Current income tax expense: | |||
Current income tax expense | 176,369 | 246,639 | 253,512 |
Deferred income tax expense (benefit): | |||
Deferred income tax expense (benefit) | ¥ (283,058) | ¥ (31,543) | ¥ 73,823 |
Income taxes - Additional Infor
Income taxes - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Income Taxes [Line Items] | |||
Decrease in net deferred liabilities | ¥ 218,323 | ||
Decrease in provision for income taxes | ¥ 249,694 | ||
Japanese Tax Authority | |||
Income Taxes [Line Items] | |||
Statutory tax rate | 31.10% | 31.10% | 32.90% |
Operating loss carryforwards for tax purposes | ¥ 26,712 | ||
Tax credit carryforwards | 2,847 | ||
Undistributed earnings of foreign subsidiaries | 3,623,657 | ||
Undistributed earnings of foreign subsidiaries, additional tax provision, estimate | ¥ 139,287 | ||
Tax years remain open to examination by various tax jurisdictions | On and after April 1, 2011 | ||
Japanese Tax Authority | Minimum | |||
Income Taxes [Line Items] | |||
Expiration date for operating loss carryforwards | 2,019 | ||
Expiration date for tax credit carryforwards | 2,019 | ||
Japanese Tax Authority | Maximum | |||
Income Taxes [Line Items] | |||
Expiration date for operating loss carryforwards | 2,027 | ||
Expiration date for tax credit carryforwards | 2,021 | ||
Foreign Tax Authority | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards for tax purposes | ¥ 866,392 | ||
Tax credit carryforwards | ¥ 55,939 | ||
Tax years remain open to examination by various tax jurisdictions | On and after April 1, 2002 | ||
Foreign Tax Authority | Minimum | |||
Income Taxes [Line Items] | |||
Expiration date for operating loss carryforwards | 2,019 | ||
Expiration date for tax credit carryforwards | 2,019 | ||
Foreign Tax Authority | Maximum | |||
Income Taxes [Line Items] | |||
Expiration date for operating loss carryforwards | 2,038 | ||
Expiration date for tax credit carryforwards | 2,038 |
Income taxes (Reconciliation of
Income taxes (Reconciliation of Differences Between Statutory Tax Rate and Effective Income Tax Rate) (Detail) - Japanese Tax Authority | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Reconciliation of Statutory Federal Tax Rate [Line Items] | |||
Statutory tax rate | 31.10% | 31.10% | 32.90% |
Increase (reduction) in taxes resulting from: | |||
Non-deductible expenses | 0.40% | 0.40% | 0.30% |
Deferred tax liabilities on undistributed earnings of foreign subsidiaries | 1.10% | 1.30% | 1.00% |
Deferred tax liabilities on undistributed earnings of affiliated companies accounted for by the equity method | 3.80% | 3.30% | 2.40% |
Valuation allowance | (2.00%) | (0.60%) | (0.40%) |
Tax credits | (4.30%) | (4.80%) | (4.70%) |
The difference between the statutory tax rate in Japan and that of foreign subsidiaries | (1.50%) | (1.90%) | (1.30%) |
Unrecognized tax benefits adjustments | 0.20% | 0.40% | 0.20% |
Revision to reduce deferred tax assets and liabilities at the fiscal year-end due to changes in tax rates | (0.50%) | ||
Effect of the Tax Cuts and Jobs Act of 2017 of the United States | (9.50%) | ||
Other | (0.10%) | (0.50%) | (0.50%) |
Effective income tax rate | 19.20% | 28.70% | 29.40% |
Income taxes (Components of Def
Income taxes (Components of Deferred Tax Assets and Liabilities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 |
Deferred tax assets | ||||
Accrued pension and severance costs | ¥ 199,366 | ¥ 219,465 | ||
Accrued expenses and liabilities for quality assurances | 609,257 | 644,936 | ||
Other accrued employees' compensation | 112,316 | 114,752 | ||
Operating loss carryforwards for tax purposes | 203,897 | 76,317 | ||
Allowance for doubtful accounts and credit losses | 63,223 | 82,916 | ||
Property, plant and equipment and other assets | 249,320 | 234,372 | ||
Other | 348,852 | 335,992 | ||
Gross deferred tax assets | 1,786,231 | 1,708,750 | ||
Less - Valuation allowance | (93,814) | (146,623) | ¥ (151,665) | ¥ (169,811) |
Total deferred tax assets | 1,692,417 | 1,562,127 | ||
Deferred tax liabilities | ||||
Unrealized gains on securities, net | (635,292) | (692,962) | ||
Undistributed earnings of foreign subsidiaries | (29,967) | (28,544) | ||
Undistributed earnings of affiliated companies accounted for by the equity method | (794,485) | (709,094) | ||
Basis difference of acquired assets | (30,768) | (31,861) | ||
Lease transactions | (751,292) | (973,000) | ||
Other | (74,658) | (46,407) | ||
Gross deferred tax liabilities | (2,316,462) | (2,481,868) | ||
Net deferred tax liability | (624,045) | (919,741) | ||
Deferred tax assets | ||||
Investments and other assets - Other | 494,120 | 503,985 | ||
Deferred tax liabilities | ||||
Deferred income taxes (Long-term liabilities) | (1,118,165) | (1,423,726) | ||
Net deferred tax liability | ¥ (624,045) | ¥ (919,741) |
Income taxes (Net Changes in To
Income taxes (Net Changes in Total Valuation Allowance for Deferred Tax Assets) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Valuation Allowance [Line Items] | |||
Valuation allowance at beginning of year | ¥ 146,623 | ¥ 151,665 | ¥ 169,811 |
Additions | 16,106 | 27,147 | 33,243 |
Deductions | (74,435) | (37,891) | (43,723) |
Other | 5,520 | 5,702 | (7,666) |
Valuation allowance at end of year | ¥ 93,814 | ¥ 146,623 | ¥ 151,665 |
Income taxes (Summary of Gross
Income taxes (Summary of Gross Unrecognized Tax Benefits Changes) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Income Tax Contingency [Line Items] | |||
Balance at beginning of year | ¥ 21,553 | ¥ 19,250 | ¥ 13,644 |
Additions based on tax positions related to the current year | 612 | 8,187 | 1,001 |
Additions for tax positions of prior years | 13,954 | 6,076 | 6,378 |
Reductions for tax positions of prior years | (13,217) | (5,593) | (77) |
Reductions for tax positions related to lapse of statute of limitations | (9) | (7) | |
Reductions for settlements | (26) | (6,317) | (427) |
Other | (1,312) | (41) | (1,262) |
Balance at end of year | ¥ 21,564 | ¥ 21,553 | ¥ 19,250 |
Class Shares (Additional Inform
Class Shares (Additional Information Regarding Model AA Class Shares) (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Jul. 24, 2015 | |
Class of Stock [Line Items] | |||
Total number of shares issued | 47,100,000 | 47,100,000 | |
Unpaid dividends included in mezzanine equity | ¥ 3,721 | ¥ 2,473 | |
Model AA Class Shares | |||
Class of Stock [Line Items] | |||
Total number of shares issued | 47,100,000 | ||
Issue price | ¥ 10,598 | ||
Purchase price | ¥ 10,121.09 | ||
Voting rights | Model AA Class Shares shall have voting rights. The number of shares constituting one unit with respect to Model AA Class Shares shall be 100. | ||
Restrictions on transfer | Model AA Class Shares shall have restrictions on transfer. | ||
Dividends | (1) If the record date falls in the fiscal year ending on March 31, 2016: 0.5% of the issue price (2) If the record date falls in the fiscal year ending on March 31, 2017 through March 31, 2020: the annual dividend rate for the previous fiscal year plus 0.5% of the issue price (3) If the record date falls in the fiscal year ending on March 31, 2021 or later: 2.5% of the issue price | ||
Shareholder's right | (1) Shareholder's conversion right into Common Shares Shareholders of the Model AA Class Shares may demand TMC to acquire all or a part of their Model AA Class Shares in exchange for Common Shares on the first business day of April and October of every year, starting October 1, 2020. (2) Shareholder's cash put option Shareholders of the Model AA Class Shares may demand TMC to acquire all or a part of their Model AA Class Shares in exchange for cash on the last business day of March, June, September and December of each year, starting on September 1, 2020. | ||
TMC's right | TMC may acquire, on or after April 2, 2021, all of the outstanding Model AA Class Shares in exchange for cash. |
Class Shares (Additional Inf100
Class Shares (Additional Information Regarding Model AA Class Shares) (Parenthetical) (Detail) - Model AA Class Shares | Jul. 24, 2015 |
If the record date falls in the fiscal year ending on March 31, 2016 | |
Class of Stock [Line Items] | |
Dividends rate | 0.50% |
If the record date falls in the fiscal year ending on March 31, 2017 through March 31, 2020 | |
Class of Stock [Line Items] | |
Dividends rate | 0.50% |
If the record date falls in the fiscal year ending on March 31, 2021 or later | |
Class of Stock [Line Items] | |
Dividends rate | 2.50% |
Shareholders' equity (Changes i
Shareholders' equity (Changes in Number of Shares of Common Stock Issued) (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Reconciliation of Common Stock Outstanding [Line Items] | |||
Balance at beginning of year | 3,262,997,492 | 3,337,997,492 | 3,417,997,492 |
Issuance during the year | 0 | 0 | 0 |
Purchase and retirement | (75,000,000) | (80,000,000) | |
Balance at end of year | 3,262,997,492 | 3,262,997,492 | 3,337,997,492 |
Shareholders' equity - Addition
Shareholders' equity - Additional Information (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Stockholders Equity Note [Line Items] | |||
Percentage of distributions from surplus appropriated as capital or retained earnings reserve | 10.00% | ||
Percentage of total amount of capital reserve and retained earnings reserves to stated capital | 25.00% | ||
Retained earnings, reserve | ¥ 194,890 | ¥ 190,227 | |
Retained earnings related to the equity in undistributed earnings of companies accounted for by the equity method | ¥ 2,429,170 | ||
Reissuance of Treasury Stock | Business Cooperation With Mazda. | |||
Stockholders Equity Note [Line Items] | |||
Number of common shares reissued | 8,293,300 | ||
Amount of proceeds | ¥ 50,000 | ||
Reissuance of Treasury Stock | Daihatsu Motor Company Limited | |||
Stockholders Equity Note [Line Items] | |||
Number of common shares reissued | 52,856,096 | ||
Amount of proceeds | ¥ 27,972 | ||
Decrease in treasury stock | 283,561 | ||
Increase in additional paid-in capital | 27,972 | ||
Decrease in additional paid in capital due to acquisition of additional shares | 53,742 | ||
Decrease in non controlling interest due to acquisition of additional shares | 255,565 | ||
Decrease in accumulated other comprehensive income (loss) due to acquisition of additional shares | 2,226 | ||
Parent Company | |||
Stockholders Equity Note [Line Items] | |||
Retained earnings, available for dividend payments | 9,256,045 | 8,470,887 | |
Cash dividends included in retained earnings at year-end | ¥ 349,190 | ||
Cash dividends per common share | ¥ 120 | ||
Treasury stock, at cost | |||
Stockholders Equity Note [Line Items] | |||
Retirement of treasury stock | (407,383) | ¥ (400,537) | |
Additional paid-in capital | |||
Stockholders Equity Note [Line Items] | |||
Retirement of treasury stock | 27,374 | 1,048 | |
Retained earnings | |||
Stockholders Equity Note [Line Items] | |||
Retirement of treasury stock | ¥ 380,009 | ¥ 399,489 |
Shareholders' equity (Additiona
Shareholders' equity (Additional Information Regarding Repurchase, Reissuance and Retirement of Treasury Stock) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Repurchase of Treasury Stock | To avoid dilution of common share value due to issuance of First Series Model AA class shares | |||
Equity, Class of Treasury Stock [Line Items] | |||
Reason for repurchasing treasury stock | For the year ended March 31, 2016, the repurchase was made to avoid the dilution of common share value as a result of the issuance of the First Series Model AA Class Shares. | ||
Number of common shares repurchased | 47,100,000 | ||
Total purchase price for repurchase of shares | ¥ 349,935 | ||
Repurchase of Treasury Stock | To return capital to shareholders | |||
Equity, Class of Treasury Stock [Line Items] | |||
Reason for repurchasing treasury stock | For the years ended March 31, 2018, 2017 and 2016, the repurchase was made to return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view of the business environment. | ||
Number of common shares repurchased | 73,708,400 | 116,555,700 | 62,942,900 |
Total purchase price for repurchase of shares | ¥ 499,989 | ¥ 699,986 | ¥ 432,692 |
Retirement of Treasury Stock | |||
Equity, Class of Treasury Stock [Line Items] | |||
Reason for retiring treasury stock | For the years ended March 31, 2017 and 2016, the retirement was made to relieve concerns regarding the dilution of common share value due to reissuance of treasury stock in the future. | ||
Number of common shares retired | 75,000,000 | 80,000,000 |
Accumulated other comprehens104
Accumulated other comprehensive income (Components of Accumulated Other Comprehensive Income (Loss) and Related Changes, Net of Taxes) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balances | ¥ 18,183,076 | ¥ 17,608,407 | ¥ 17,647,329 |
Other comprehensive income (loss) before reclassifications, net of taxes | (170,629) | 66,147 | (929,685) |
Reclassifications, net of taxes | (22,221) | (26,482) | 12,960 |
Other comprehensive income (loss), net of tax | (192,850) | 39,665 | (916,725) |
Less - Other comprehensive income attributable to noncontrolling interests | (973) | (7,285) | 49,948 |
Equity transaction with noncontrolling interests and other | (1,659) | 13,347 | 5,709 |
Balances | 19,430,102 | 18,183,076 | 17,608,407 |
Foreign currency translation adjustments | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balances | (560,108) | (499,055) | (136,090) |
Other comprehensive income (loss) before reclassifications, net of taxes | (113,942) | (57,926) | (423,404) |
Reclassifications, net of taxes | (6,664) | 28,052 | |
Other comprehensive income (loss), net of tax | (120,606) | (57,926) | (395,352) |
Less - Other comprehensive income attributable to noncontrolling interests | 1,629 | 5,499 | 32,387 |
Equity transaction with noncontrolling interests and other | (8,626) | ||
Balances | (679,085) | (560,108) | (499,055) |
Unrealized gains (losses) on securities | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balances | 1,426,003 | 1,424,945 | 1,727,565 |
Other comprehensive income (loss) before reclassifications, net of taxes | (72,501) | 41,134 | (291,681) |
Reclassifications, net of taxes | (22,058) | (36,855) | (20,511) |
Other comprehensive income (loss), net of tax | (94,559) | 4,279 | (312,192) |
Less - Other comprehensive income attributable to noncontrolling interests | (2,022) | (12,281) | 9,572 |
Equity transaction with noncontrolling interests and other | 162 | 9,060 | |
Balances | 1,329,584 | 1,426,003 | 1,424,945 |
Pension liability adjustments | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balances | (224,973) | (315,122) | (113,930) |
Other comprehensive income (loss) before reclassifications, net of taxes | 15,814 | 82,939 | (214,600) |
Reclassifications, net of taxes | 6,501 | 10,373 | 5,419 |
Other comprehensive income (loss), net of tax | 22,315 | 93,312 | (209,181) |
Less - Other comprehensive income attributable to noncontrolling interests | (580) | (503) | 7,989 |
Equity transaction with noncontrolling interests and other | (11,562) | (2,660) | |
Balances | (214,800) | (224,973) | (315,122) |
Accumulated other comprehensive income (loss) | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Balances | 640,922 | 610,768 | 1,477,545 |
Equity transaction with noncontrolling interests and other | (11,400) | (2,226) | |
Balances | ¥ 435,699 | ¥ 640,922 | ¥ 610,768 |
Accumulated other comprehens105
Accumulated other comprehensive income (Components of Accumulated Other Comprehensive Income (Loss) and Related Changes, Net of Taxes) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income (loss) before reclassifications, taxes | ¥ 27,347 | ¥ (39,907) | ¥ 234,021 |
Reclassifications, taxes | 7,229 | 18,020 | 6,514 |
Foreign currency translation adjustments | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income (loss) before reclassifications, taxes | (3,624) | 9,240 | 10,719 |
Reclassifications, taxes | 0 | 0 | 0 |
Unrealized gains (losses) on securities | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income (loss) before reclassifications, taxes | 38,539 | (9,048) | 130,092 |
Reclassifications, taxes | 9,729 | 23,275 | 9,832 |
Pension liability adjustments | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other comprehensive income (loss) before reclassifications, taxes | (7,568) | (40,099) | 93,210 |
Reclassifications, taxes | ¥ (2,500) | ¥ (5,255) | ¥ (3,318) |
Accumulated other comprehens106
Accumulated other comprehensive income (Reclassifications Out of Accumulated Other Comprehensive Income (Loss)) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Financing operations | ¥ (1,959,234) | ¥ (1,783,697) | ¥ (1,854,007) | |
Foreign exchange gain (loss), net | (22,664) | (33,601) | 5,573 | |
Other income (loss), net | (45,948) | (36,222) | (12,524) | |
Income before income taxes and equity in earnings of affiliated companies | (2,620,429) | (2,193,825) | (2,983,381) | |
Provision for income taxes | 504,406 | 628,900 | 878,269 | |
Equity in earnings of affiliated companies | (470,083) | (362,060) | (329,099) | |
Net income | (2,586,106) | (1,926,985) | (2,434,211) | |
Reclassification from AOCI, Current Period, Tax | 7,229 | 18,020 | 6,514 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (22,221) | (26,482) | 12,960 | |
Foreign currency translation adjustments | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Other income (loss), net | (6,664) | 28,052 | ||
Income before income taxes and equity in earnings of affiliated companies | (6,664) | 28,052 | ||
Net income | (6,664) | 28,052 | ||
Unrealized gains (losses) on securities | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Financing operations | (4,567) | (24,553) | (779) | |
Foreign exchange gain (loss), net | (25,247) | (3,572) | (27,275) | |
Other income (loss), net | (1,993) | (31,685) | (6,185) | |
Income before income taxes and equity in earnings of affiliated companies | (31,807) | (59,810) | (34,239) | |
Provision for income taxes | 9,729 | 23,275 | 9,832 | |
Equity in earnings of affiliated companies | 20 | (320) | 3,896 | |
Net income | (22,058) | (36,855) | (20,511) | |
Recognized net actuarial loss | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [1] | 12,914 | 19,432 | 12,971 |
Amortization of prior service costs | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | [1] | (3,913) | (3,804) | (4,234) |
Pension liability adjustments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 9,001 | 15,628 | 8,737 | |
Reclassification from AOCI, Current Period, Tax | (2,500) | (5,255) | (3,318) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | ¥ 6,501 | ¥ 10,373 | ¥ 5,419 | |
[1] | These components are included in the computation of net periodic pension cost. See note 20 to the consolidated financial statements for additional information. |
Stock-based compensation - Addi
Stock-based compensation - Additional Information (Detail) - JPY (¥) | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Stock-based compensation expense related to stock options | ¥ 0 | ¥ 0 | ¥ 0 |
Total intrinsic value of stock options exercised | 1,881,000,000 | 1,632,000,000 | 2,236,000,000 |
Cash received from options exercised | ¥ 2,399,000,000 | ¥ 3,147,000,000 | ¥ 4,728,000,000 |
Stock options granted in and after August 2006 | |||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||
Term of options (in years) | 8 years | ||
Exercise price ratio | 1.025% | ||
Vesting period | 2 years |
Stock-based compensation (Summa
Stock-based compensation (Summary of Toyota's Stock Option Activity) (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Number of shares | ||||
Options outstanding, beginning balance | 1,192,300 | 2,093,500 | 3,503,500 | |
Granted | 0 | 0 | 0 | |
Exercised | (643,800) | (785,600) | (936,400) | |
Canceled | (264,900) | (115,600) | (473,600) | |
Options outstanding, ending balance | 283,600 | 1,192,300 | 2,093,500 | 3,503,500 |
Options exercisable at year end | 283,600 | 1,192,300 | 2,093,500 | |
Weighted-average exercise price | ||||
Options outstanding, beginning balance | ¥ 3,682 | ¥ 3,858 | ¥ 4,632 | |
Granted | 0 | 0 | 0 | |
Exercised | 3,726 | 4,006 | 5,049 | |
Canceled | 4,154 | 4,682 | 6,917 | |
Options outstanding, ending balance | 3,153 | 3,682 | 3,858 | ¥ 4,632 |
Options exercisable at year end | ¥ 3,153 | ¥ 3,682 | ¥ 3,858 | |
Weighted-average remaining contractual life in years | ||||
Options outstanding, Weighted- average remaining contractual term | 3 months 29 days | 9 months 18 days | 1 year 6 months 22 days | 2 years 18 days |
Options exercisable at year end | 3 months 29 days | 9 months 18 days | 1 year 6 months 22 days | |
Aggregate intrinsic value | ||||
Option outstanding aggregate intrinsic value at year end | ¥ 1,041 | ¥ 2,813 | ¥ 4,384 | ¥ 13,143 |
Options exercisable at year end | ¥ 1,041 | ¥ 2,813 | ¥ 4,384 |
Stock-based compensation (Su109
Stock-based compensation (Summary of Options Outstanding and Options Exercisable) (Detail) - ¥ / shares | 12 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Outstanding Number of shares | 283,600 | 1,192,300 | 2,093,500 | 3,503,500 |
Outstanding Exercise price Yen | ¥ 3,153 | ¥ 3,682 | ¥ 3,858 | ¥ 4,632 |
Outstanding Remaining life Years | 3 months 29 days | 9 months 18 days | 1 year 6 months 22 days | 2 years 18 days |
Exercisable Number of shares | 283,600 | 1,192,300 | 2,093,500 | |
Exercisable Exercise price Yen | ¥ 3,153 | ¥ 3,682 | ¥ 3,858 |
Employee benefit plans (Informa
Employee benefit plans (Information Regarding Defined Benefit Plans) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Japan | |||
Change in benefit obligation | |||
Benefit obligation at beginning of year | ¥ 1,930,498 | ¥ 1,912,156 | |
Service cost | 88,964 | 89,443 | ¥ 78,611 |
Interest cost | 13,252 | 8,800 | 17,509 |
Plan participants' contributions | 1,266 | 923 | |
Plan amendments | (58) | (21) | |
Net actuarial (gain) loss | 35,017 | (45,783) | |
Acquisition and other | 18,206 | 30,622 | |
Benefits paid | (67,835) | (65,642) | |
Benefit obligation at end of year | 2,019,310 | 1,930,498 | 1,912,156 |
Change in plan assets | |||
Balance at beginning of year | 1,483,889 | 1,369,236 | |
Actual return on plan assets | 111,278 | 81,600 | |
Acquisition and other | 14,615 | 30,266 | |
Employer contributions | 42,095 | 39,692 | |
Plan participants' contributions | 1,266 | 923 | |
Benefits paid | (40,264) | (37,828) | |
Balance at end of year | 1,612,879 | 1,483,889 | 1,369,236 |
Funded status | 406,431 | 446,609 | |
Foreign Plans | |||
Change in benefit obligation | |||
Benefit obligation at beginning of year | 1,026,024 | 963,255 | |
Service cost | 35,887 | 41,733 | 47,544 |
Interest cost | 37,817 | 35,593 | 40,340 |
Plan participants' contributions | 912 | 436 | |
Plan amendments | (12) | (996) | |
Net actuarial (gain) loss | 66,039 | 22,220 | |
Acquisition and other | (26,616) | (18,778) | |
Benefits paid | (42,070) | (17,439) | |
Benefit obligation at end of year | 1,097,981 | 1,026,024 | 963,255 |
Change in plan assets | |||
Balance at beginning of year | 758,306 | 692,801 | |
Actual return on plan assets | 89,924 | 74,760 | |
Acquisition and other | (16,009) | (11,960) | |
Employer contributions | 20,961 | 15,925 | |
Plan participants' contributions | 912 | 436 | |
Benefits paid | (38,611) | (13,656) | |
Balance at end of year | 815,483 | 758,306 | ¥ 692,801 |
Funded status | ¥ 282,498 | ¥ 267,718 |
Employee benefit plans (Amounts
Employee benefit plans (Amounts Recognized in Consolidated Balance Sheet Associated with Defined Benefit Plans) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | ||
Accrued pension and severance costs | ¥ 931,182 | ¥ 905,070 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accrued expenses (Accrued pension and severance costs) | 27,718 | 28,265 |
Accrued pension and severance costs | 647,134 | 633,774 |
Investments and other assets - Other (Prepaid pension and severance costs) | (268,421) | (215,430) |
Net amount recognized | 406,431 | 446,609 |
Foreign Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accrued expenses (Accrued pension and severance costs) | 2,982 | 2,936 |
Accrued pension and severance costs | 284,048 | 271,296 |
Investments and other assets - Other (Prepaid pension and severance costs) | (4,532) | (6,514) |
Net amount recognized | ¥ 282,498 | ¥ 267,718 |
Employee benefit plans (Amou112
Employee benefit plans (Amounts Recognized in Accumulated Other Comprehensive Income (Loss)) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Japan | ||
Schedule of Pension and Other Postretirement Benefits Recognized in Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net actuarial loss | ¥ (248,791) | ¥ (288,126) |
Prior service costs | 32,812 | 36,980 |
Net transition obligation | 0 | 0 |
Net amount recognized | (215,979) | (251,146) |
Foreign Plans | ||
Schedule of Pension and Other Postretirement Benefits Recognized in Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Net actuarial loss | (119,407) | (116,700) |
Prior service costs | (1,826) | (2,151) |
Net transition obligation | 0 | 0 |
Net amount recognized | ¥ (121,233) | ¥ (118,851) |
Employee benefit plans - Additi
Employee benefit plans - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 |
Japan | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Accumulated benefit obligation for all defined benefit pension plans | ¥ 1,959,533 | ¥ 1,874,424 | |
Japan | Equity securities | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Percentage of plan assets invested | 40.00% | ||
Japan | Equity securities | Common stocks | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Plan asset allocation | 76.00% | 74.00% | |
Japan | Debt securities | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Percentage of plan assets invested | 30.00% | ||
Japan | Debt securities | Government bonds | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Plan asset allocation | 29.00% | 28.00% | |
Japan | Scenario Forecast | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Estimated prior service costs | ¥ (4,200) | ||
Estimated net actuarial loss | 7,100 | ||
Expected contribution to pension plans | 42,220 | ||
Foreign Plans | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Accumulated benefit obligation for all defined benefit pension plans | ¥ 1,023,094 | ¥ 957,217 | |
Foreign Plans | Equity securities | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Percentage of plan assets invested | 65.00% | ||
Foreign Plans | Equity securities | Common stocks | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Plan asset allocation | 24.00% | 26.00% | |
Foreign Plans | Debt securities | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Percentage of plan assets invested | 25.00% | ||
Foreign Plans | Debt securities | Government bonds | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Plan asset allocation | 71.00% | 72.00% | |
Foreign Plans | Scenario Forecast | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | |||
Estimated prior service costs | 300 | ||
Estimated net actuarial loss | 6,900 | ||
Expected contribution to pension plans | ¥ 23,234 |
Employee benefit plans (Project
Employee benefit plans (Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets for which Accumulated Benefit Obligations Exceed Plan Assets) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Japan | ||
Schedule of Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Line Items] | ||
Projected benefit obligation | ¥ 833,080 | ¥ 892,684 |
Accumulated benefit obligation | 806,774 | 866,566 |
Fair value of plan assets | 170,234 | 242,488 |
Foreign Plans | ||
Schedule of Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Line Items] | ||
Projected benefit obligation | 490,844 | 445,482 |
Accumulated benefit obligation | 468,611 | 426,201 |
Fair value of plan assets | ¥ 201,402 | ¥ 178,357 |
Employee benefit plans (Compone
Employee benefit plans (Components of Net Periodic Pension Cost) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Japan | |||
Net Period Benefit Cost Assumptions [Line Items] | |||
Service cost | ¥ 88,964 | ¥ 89,443 | ¥ 78,611 |
Interest cost | 13,252 | 8,800 | 17,509 |
Expected return on plan assets | (36,409) | (33,524) | (35,012) |
Amortization of prior service costs | (4,226) | (4,148) | (4,669) |
Recognized net actuarial loss | 7,462 | 14,298 | 5,850 |
Amortization of net transition obligation | 0 | 0 | 0 |
Net periodic pension cost | 69,043 | 74,869 | 62,289 |
Foreign Plans | |||
Net Period Benefit Cost Assumptions [Line Items] | |||
Service cost | 35,887 | 41,733 | 47,544 |
Interest cost | 37,817 | 35,593 | 40,340 |
Expected return on plan assets | (41,048) | (38,893) | (44,616) |
Amortization of prior service costs | 313 | 344 | 435 |
Recognized net actuarial loss | 5,452 | 5,134 | 7,121 |
Amortization of net transition obligation | 0 | 0 | 0 |
Net periodic pension cost | ¥ 38,421 | ¥ 43,911 | ¥ 50,824 |
Employee benefit plans (Other C
Employee benefit plans (Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss)) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Japan | |||
Schedule of Pension and Other Postretirement Benefits Recognized in Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net actuarial gain (loss) | ¥ 39,852 | ¥ 93,859 | ¥ (290,664) |
Recognized net actuarial loss | 7,462 | 14,298 | 5,850 |
Prior service costs | 58 | 21 | 489 |
Amortization of prior service costs | (4,226) | (4,148) | (4,669) |
Amortization of net transition obligation | 0 | 0 | 0 |
Other | (7,979) | 811 | 76 |
Total recognized in other comprehensive income (loss) | 35,167 | 104,841 | (288,918) |
Foreign Plans | |||
Schedule of Pension and Other Postretirement Benefits Recognized in Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net actuarial gain (loss) | (17,163) | 13,647 | (11,242) |
Recognized net actuarial loss | 5,452 | 5,134 | 7,121 |
Prior service costs | 12 | 996 | 573 |
Amortization of prior service costs | 313 | 344 | 435 |
Amortization of net transition obligation | 0 | 0 | 0 |
Other | 9,004 | 1,962 | 272 |
Total recognized in other comprehensive income (loss) | ¥ (2,382) | ¥ 22,083 | ¥ (2,841) |
Employee benefit plans (Weighte
Employee benefit plans (Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Pension Cost) (Detail) | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Japan | |||
Defined benefit plan, weighted average assumptions used in calculating benefit obligation | |||
Discount rate | 0.70% | 0.70% | |
Rate of compensation increase | 3.30% | 2.90% | |
Defined benefit plan, weighted average assumptions used in calculating net periodic benefit cost | |||
Discount rate | 0.70% | 0.50% | 1.10% |
Expected return on plan assets | 2.40% | 2.40% | 2.50% |
Rate of compensation increase | 2.90% | 2.70% | 2.50% |
Foreign Plans | |||
Defined benefit plan, weighted average assumptions used in calculating benefit obligation | |||
Discount rate | 3.90% | 4.00% | |
Rate of compensation increase | 3.60% | 3.80% | |
Defined benefit plan, weighted average assumptions used in calculating net periodic benefit cost | |||
Discount rate | 4.00% | 4.20% | 4.00% |
Expected return on plan assets | 6.00% | 6.10% | 6.30% |
Rate of compensation increase | 3.80% | 3.90% | 4.40% |
Employee benefit plans (Summary
Employee benefit plans (Summary of Fair Value of Classes of Plan Assets) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 |
Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | ¥ 815,483 | ¥ 758,306 | ¥ 692,801 | |
Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 1,612,879 | 1,483,889 | 1,369,236 | |
Investments | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 240,957 | 194,289 | ||
Investments | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 75,479 | 65,222 | ||
Equity securities | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 376,042 | 359,140 | ||
Equity securities | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 823,097 | 765,887 | ||
Equity securities | Common stocks | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 178,476 | 207,036 | ||
Equity securities | Common stocks | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 620,281 | 585,052 | ||
Equity securities | Commingled funds | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 197,566 | 152,104 | ||
Equity securities | Commingled funds | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 202,816 | 180,835 | ||
Debt securities | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 136,602 | 146,590 | ||
Debt securities | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 410,415 | 376,291 | ||
Debt securities | Commingled funds | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 11,642 | 36,430 | ||
Debt securities | Commingled funds | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 284,870 | 248,498 | ||
Debt securities | Government bonds | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 89,928 | 76,730 | ||
Debt securities | Government bonds | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 88,959 | 87,958 | ||
Debt securities | Other | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 35,032 | 33,430 | ||
Debt securities | Other | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 36,586 | 39,835 | ||
Insurance Contracts | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 201,141 | 199,779 | ||
Other | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 61,882 | 58,287 | ||
Other | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 102,747 | 76,710 | ||
Level 1 | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 280,891 | 297,299 | ||
Level 1 | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 750,686 | 715,093 | ||
Level 1 | Equity securities | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 178,476 | 207,036 | ||
Level 1 | Equity securities | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 620,281 | 585,052 | ||
Level 1 | Equity securities | Common stocks | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 178,476 | 207,036 | ||
Level 1 | Equity securities | Common stocks | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 620,281 | 585,052 | ||
Level 1 | Debt securities | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 89,928 | 76,730 | ||
Level 1 | Debt securities | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 88,959 | 87,958 | ||
Level 1 | Debt securities | Government bonds | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 89,928 | 76,730 | ||
Level 1 | Debt securities | Government bonds | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 88,959 | 87,958 | ||
Level 1 | Other | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 12,487 | 13,533 | ||
Level 1 | Other | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 41,446 | 42,083 | ||
Level 2 | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 262,347 | 235,815 | ||
Level 2 | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 786,695 | 702,997 | ||
Level 2 | Equity securities | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 197,566 | 152,104 | ||
Level 2 | Equity securities | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 202,816 | 180,835 | ||
Level 2 | Equity securities | Commingled funds | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 197,566 | 152,104 | ||
Level 2 | Equity securities | Commingled funds | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 202,816 | 180,835 | ||
Level 2 | Debt securities | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 46,674 | 69,860 | ||
Level 2 | Debt securities | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 321,437 | 288,252 | ||
Level 2 | Debt securities | Commingled funds | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 11,642 | 36,430 | ||
Level 2 | Debt securities | Commingled funds | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 284,870 | 248,498 | ||
Level 2 | Debt securities | Other | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 35,032 | 33,430 | ||
Level 2 | Debt securities | Other | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 36,567 | 39,754 | ||
Level 2 | Insurance Contracts | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 201,141 | 199,779 | ||
Level 2 | Other | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 18,107 | 13,851 | ||
Level 2 | Other | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 61,301 | 34,131 | ||
Level 3 | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 31,288 | 30,903 | ||
Level 3 | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 19 | 577 | 2,664 | ¥ 1,251 |
Level 3 | Debt securities | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 19 | 81 | 146 | 233 |
Level 3 | Debt securities | Other | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | 19 | 81 | ||
Level 3 | Other | Foreign Plans | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | ¥ 31,288 | 30,903 | 30,758 | 17,511 |
Level 3 | Other | Japan | ||||
Schedule of Pension and Other Postretirement Plan Assets by Fair Value [Line Items] | ||||
Plan assets | ¥ 496 | ¥ 2,518 | ¥ 1,018 |
Employee benefit plans (Changes
Employee benefit plans (Changes in Level 3 Plan Assets Measured At Fair Value) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Japan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | ¥ 1,483,889 | ¥ 1,369,236 | |
Actual return on plan assets | 111,278 | 81,600 | |
Balance at end of year | 1,612,879 | 1,483,889 | ¥ 1,369,236 |
Foreign Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 758,306 | 692,801 | |
Actual return on plan assets | 89,924 | 74,760 | |
Balance at end of year | 815,483 | 758,306 | 692,801 |
Debt securities | Japan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 376,291 | ||
Balance at end of year | 410,415 | 376,291 | |
Debt securities | Foreign Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 146,590 | ||
Balance at end of year | 136,602 | 146,590 | |
Other | Japan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 76,710 | ||
Balance at end of year | 102,747 | 76,710 | |
Other | Foreign Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 58,287 | ||
Balance at end of year | 61,882 | 58,287 | |
Level 3 | Japan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 577 | 2,664 | 1,251 |
Actual return on plan assets | (4) | (11) | (2) |
Purchases, sales and settlements | (554) | (2,076) | 1,415 |
Balance at end of year | 19 | 577 | 2,664 |
Level 3 | Foreign Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 30,903 | ||
Balance at end of year | 31,288 | 30,903 | |
Level 3 | Debt securities | Japan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 81 | 146 | 233 |
Actual return on plan assets | 1 | ||
Purchases, sales and settlements | (62) | (65) | (88) |
Balance at end of year | 19 | 81 | 146 |
Level 3 | Other | Japan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 496 | 2,518 | 1,018 |
Actual return on plan assets | (4) | (11) | (3) |
Purchases, sales and settlements | (492) | (2,011) | 1,503 |
Balance at end of year | 496 | 2,518 | |
Level 3 | Other | Foreign Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 30,903 | 30,758 | 17,511 |
Actual return on plan assets | 2,024 | 279 | 1,966 |
Purchases, sales and settlements | 12,372 | ||
Other | (1,639) | (134) | (1,091) |
Balance at end of year | ¥ 31,288 | ¥ 30,903 | ¥ 30,758 |
Employee benefit plans (Expecte
Employee benefit plans (Expected Benefit Payments Associated with Pension and Postretirement Benefit Plans) (Detail) ¥ in Millions | Mar. 31, 2018JPY (¥) |
Japan | |
Schedule of Pension Expected Future Benefit Payments [Line Items] | |
2,019 | ¥ 72,756 |
2,020 | 73,891 |
2,021 | 74,890 |
2,022 | 78,254 |
2,023 | 82,433 |
from 2024 to 2028 | 429,821 |
Total | 812,045 |
Foreign Plans | |
Schedule of Pension Expected Future Benefit Payments [Line Items] | |
2,019 | 21,972 |
2,020 | 23,700 |
2,021 | 25,089 |
2,022 | 26,724 |
2,023 | 28,552 |
from 2024 to 2028 | 167,337 |
Total | ¥ 293,374 |
Derivative financial instrum121
Derivative financial instruments (Fair Values of Derivative Financial Instruments) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Total derivative assets | ¥ 257,804 | ¥ 243,421 |
Counterparty netting | (97,617) | (84,883) |
Collateral received | (92,146) | (60,021) |
Carrying value of derivative assets | 68,041 | 98,517 |
Total derivative liabilities | (197,156) | (245,457) |
Counterparty netting | 97,617 | 84,883 |
Collateral posted | 55,650 | 122,231 |
Carrying value of derivative liabilities | (43,889) | (38,343) |
Interest rate and currency swap agreements | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 222,060 | 230,238 |
Derivative liabilities | (193,546) | (225,474) |
Interest rate and currency swap agreements | Prepaid expenses and Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 46,425 | 61,946 |
Interest rate and currency swap agreements | Investments and other assets - Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 175,635 | 168,292 |
Interest rate and currency swap agreements | Other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | (34,716) | (67,091) |
Interest rate and currency swap agreements | Other long-term liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | (158,830) | (158,383) |
Foreign exchange forward and option contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 34,922 | 12,521 |
Derivative liabilities | (3,610) | (19,919) |
Foreign exchange forward and option contracts | Prepaid expenses and Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 34,922 | 12,357 |
Foreign exchange forward and option contracts | Investments and other assets - Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 164 | |
Foreign exchange forward and option contracts | Other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | (3,610) | (19,919) |
Fair value hedging derivative financial instruments | Interest rate and currency swap agreements | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 822 | 662 |
Derivative liabilities | (64) | |
Fair value hedging derivative financial instruments | Interest rate and currency swap agreements | Prepaid expenses and Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 154 | |
Fair value hedging derivative financial instruments | Interest rate and currency swap agreements | Investments and other assets - Other | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | ¥ 668 | 662 |
Fair value hedging derivative financial instruments | Interest rate and currency swap agreements | Other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | ¥ (64) |
Derivative financial instrum122
Derivative financial instruments (Notional Amounts of Derivative Financial Instruments) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Undesignated derivative financial instruments | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative financial instruments, notional amount | ¥ 22,626,619 | ¥ 22,232,418 |
Interest rate and currency swap agreements | Undesignated derivative financial instruments | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative financial instruments, notional amount | 19,895,085 | 19,459,677 |
Foreign exchange forward and option contracts | Undesignated derivative financial instruments | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative financial instruments, notional amount | 2,731,534 | 2,772,741 |
Fair value hedging derivative financial instruments | Designated as Hedging Instrument | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative financial instruments, notional amount | 12,643 | 40,837 |
Fair value hedging derivative financial instruments | Interest rate and currency swap agreements | Designated as Hedging Instrument | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative financial instruments, notional amount | ¥ 12,643 | ¥ 40,837 |
Derivative financial instrum123
Derivative financial instruments (Gains and Losses on Derivative Financial Instruments and Hedged Items Reported in Consolidated Statement of Income) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Fair value hedging derivative financial instruments | Interest rate and currency swap agreements | Cost of financing operations | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains or (losses) on derivative financial instruments | ¥ 782 | ¥ (339) | ¥ (133) |
Gains or (losses) on hedged items | (227) | 1,212 | 122 |
Undesignated derivative financial instruments | Interest rate and currency swap agreements | Cost of financing operations | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains or (losses) on derivative financial instruments | 42,220 | (61,884) | 119,096 |
Undesignated derivative financial instruments | Interest rate and currency swap agreements | Foreign exchange gain (loss), net | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains or (losses) on derivative financial instruments | 30,339 | 12,516 | (379) |
Undesignated derivative financial instruments | Foreign exchange forward and option contracts | Cost of financing operations | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains or (losses) on derivative financial instruments | 6,442 | 2,614 | (16,363) |
Undesignated derivative financial instruments | Foreign exchange forward and option contracts | Foreign exchange gain (loss), net | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains or (losses) on derivative financial instruments | ¥ 73,115 | ¥ 81,614 | ¥ 115,256 |
Derivative financial instrum124
Derivative financial instruments - Additional Information (Detail) ¥ in Millions | Mar. 31, 2018JPY (¥) |
Derivative [Line Items] | |
Credit risk derivatives, fair value, net liability | ¥ 2,489 |
Credit risk derivatives, aggregate fair value of assets posted | 28,012 |
Maximum amount of assets to be posted if the ratings decline below specified thresholds | ¥ 2,489 |
Other financial instruments (Es
Other financial instruments (Estimated Fair Value of Toyota's Financial Instrument, Excluding Marketable Securities, Other Securities Investments, Investments and Other Assets in Affiliated Companies and Derivative Financial Instruments) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 |
Assets (Liabilities) | ||||
Cash and cash equivalents | ¥ 3,052,269 | ¥ 2,995,075 | ¥ 2,939,428 | ¥ 2,284,557 |
Time deposits | 901,244 | 1,082,654 | ||
Other receivables | 489,338 | 436,867 | ||
Short-term borrowings | (5,154,913) | (4,953,682) | ||
Carrying amount | ||||
Assets (Liabilities) | ||||
Cash and cash equivalents | 3,052,269 | 2,995,075 | ||
Time deposits | 901,244 | 1,082,654 | ||
Total finance receivables, net | 14,508,614 | 14,064,660 | ||
Other receivables | 489,338 | 436,867 | ||
Short-term borrowings | (5,154,913) | (4,953,682) | ||
Long-term debt including the current portion | (14,172,025) | (14,179,796) | ||
Estimated fair value | ||||
Assets (Liabilities) | ||||
Cash and cash equivalents | 3,052,269 | 2,995,075 | ||
Time deposits | 901,244 | 1,082,654 | ||
Total finance receivables, net | 14,615,409 | 14,226,440 | ||
Other receivables | 489,338 | 436,867 | ||
Short-term borrowings | (5,154,913) | (4,953,682) | ||
Long-term debt including the current portion | (14,206,148) | (14,307,501) | ||
Estimated fair value | Level 1 | ||||
Assets (Liabilities) | ||||
Cash and cash equivalents | 2,278,060 | 2,103,469 | ||
Estimated fair value | Level 2 | ||||
Assets (Liabilities) | ||||
Cash and cash equivalents | 774,209 | 891,606 | ||
Time deposits | 901,244 | 1,082,654 | ||
Short-term borrowings | (5,154,913) | (4,953,682) | ||
Long-term debt including the current portion | (12,265,260) | (12,241,617) | ||
Estimated fair value | Level 3 | ||||
Assets (Liabilities) | ||||
Total finance receivables, net | 14,615,409 | 14,226,440 | ||
Other receivables | 489,338 | 436,867 | ||
Long-term debt including the current portion | ¥ (1,940,888) | ¥ (2,065,884) |
Lease commitments (Analysis of
Lease commitments (Analysis of Leased Assets Under Capital Leases) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Class of property | ||
Less - Accumulated depreciation | ¥ (30,853) | ¥ (28,703) |
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total | 18,298 | 19,702 |
Building | ||
Class of property | ||
Capital leased assets, gross | 17,934 | 18,775 |
Machinery and equipment | ||
Class of property | ||
Capital leased assets, gross | ¥ 31,217 | ¥ 29,630 |
Lease commitments - Additional
Lease commitments - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Lease and Rental Expense [Line Items] | |||
Capital leases, amortization expenses | ¥ 5,541 | ¥ 4,586 | ¥ 4,801 |
Operating lease, rental expenses | ¥ 112,934 | ¥ 92,321 | ¥ 101,932 |
Lease commitments (Future Minim
Lease commitments (Future Minimum Lease Payments Under Capital Leases Together with Present Value of Net Minimum Lease Payments) (Detail) ¥ in Millions | Mar. 31, 2018JPY (¥) |
Schedule of Capital Lease Obligations [Line Items] | |
2,019 | ¥ 6,645 |
2,020 | 3,892 |
2,021 | 2,276 |
2,022 | 1,921 |
2,023 | 1,801 |
Thereafter | 8,933 |
Total minimum lease payments | 25,468 |
Less - Amount representing interest | (4,842) |
Present value of net minimum lease payments | 20,626 |
Less - Current obligations | (5,796) |
Long-term capital lease obligations | ¥ 14,830 |
Lease commitments (Minimum Rent
Lease commitments (Minimum Rental Payments Required Under Operating Leases Relating to Land, Buildings and Equipment) (Detail) ¥ in Millions | Mar. 31, 2018JPY (¥) |
Schedule of Operating Leases [Line Items] | |
2,019 | ¥ 14,296 |
2,020 | 11,375 |
2,021 | 9,422 |
2,022 | 8,403 |
2,023 | 7,247 |
Thereafter | 26,106 |
Total minimum future rentals | ¥ 76,849 |
Other commitments and contin130
Other commitments and contingencies, concentrations and factors that may affect future operations - Additional Information (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2018JPY (¥) | |
Commitments and Contingencies Disclosure [Line Items] | |
Guarantee contracts obligations, maximum potential amount of future payments | ¥ 2,830,749 |
Guarantee contracts obligations, liabilities | 6,901 |
Purchase Commitment | |
Commitments and Contingencies Disclosure [Line Items] | |
Commitments outstanding for purchase of property, plant and equipment, service and other assets | ¥ 368,483 |
Minimum | |
Commitments and Contingencies Disclosure [Line Items] | |
Payment guarantee period | 1 month |
Maximum | |
Commitments and Contingencies Disclosure [Line Items] | |
Payment guarantee period | 35 years |
Segment data (Segment Operating
Segment data (Segment Operating Results and Assets) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Net revenues | |||
Sales to external customers | ¥ 29,379,510 | ¥ 27,597,193 | ¥ 28,403,118 |
Total net revenues | 29,379,510 | 27,597,193 | 28,403,118 |
Operating expenses | 26,979,648 | 25,602,821 | 25,549,147 |
Operating income | 2,399,862 | 1,994,372 | 2,853,971 |
Assets | 50,308,249 | 48,750,186 | 47,427,597 |
Investment in equity method investees | 3,162,711 | 2,845,422 | 2,631,389 |
Depreciation expenses | 1,734,033 | 1,610,950 | 1,625,837 |
Capital expenditure | 3,598,707 | 3,541,437 | 4,059,216 |
Inter-segment Elimination | |||
Net revenues | |||
Inter-segment sales and transfers | (681,556) | (629,306) | (647,909) |
Total net revenues | (681,556) | (629,306) | (647,909) |
Operating expenses | (683,925) | (626,950) | (647,149) |
Operating income | 2,369 | (2,356) | (760) |
Assets | 8,019,941 | 7,915,579 | 8,179,682 |
Investment in equity method investees | 96,415 | 90,193 | 78,776 |
Capital expenditure | (11,667) | 12,014 | (10,010) |
Automotive | Operating Segments | |||
Net revenues | |||
Sales to external customers | 26,347,229 | 25,032,229 | 25,923,813 |
Inter-segment sales and transfers | 50,711 | 49,618 | 53,603 |
Total net revenues | 26,397,940 | 25,081,847 | 25,977,416 |
Operating expenses | 24,386,805 | 23,388,874 | 23,528,418 |
Operating income | 2,011,135 | 1,692,973 | 2,448,998 |
Assets | 17,054,209 | 16,156,496 | 15,621,757 |
Investment in equity method investees | 3,054,583 | 2,745,437 | 2,532,644 |
Depreciation expenses | 976,735 | 912,797 | 900,434 |
Capital expenditure | 1,381,122 | 1,293,564 | 1,389,289 |
Financial Services | Operating Segments | |||
Net revenues | |||
Sales to external customers | 1,959,234 | 1,783,697 | 1,854,007 |
Inter-segment sales and transfers | 57,774 | 39,903 | 42,217 |
Total net revenues | 2,017,008 | 1,823,600 | 1,896,224 |
Operating expenses | 1,731,462 | 1,601,172 | 1,556,998 |
Operating income | 285,546 | 222,428 | 339,226 |
Assets | 23,055,981 | 22,507,613 | 21,709,010 |
Investment in equity method investees | 11,713 | 9,792 | 9,168 |
Depreciation expenses | 723,061 | 671,155 | 697,991 |
Capital expenditure | 2,166,805 | 2,182,149 | 2,638,111 |
All Other | Operating Segments | |||
Net revenues | |||
Sales to external customers | 1,073,047 | 781,267 | 625,298 |
Inter-segment sales and transfers | 573,071 | 539,785 | 552,089 |
Total net revenues | 1,646,118 | 1,321,052 | 1,177,387 |
Operating expenses | 1,545,306 | 1,239,725 | 1,110,880 |
Operating income | 100,812 | 81,327 | 66,507 |
Assets | 2,178,118 | 2,170,498 | 1,917,148 |
Investment in equity method investees | 10,801 | ||
Depreciation expenses | 34,237 | 26,998 | 27,412 |
Capital expenditure | ¥ 62,447 | ¥ 53,710 | ¥ 41,826 |
Segment data (Geographic Inform
Segment data (Geographic Information) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Net revenues | |||
Sales to external customers | ¥ 29,379,510 | ¥ 27,597,193 | ¥ 28,403,118 |
Total net revenues | 29,379,510 | 27,597,193 | 28,403,118 |
Operating expenses | 26,979,648 | 25,602,821 | 25,549,147 |
Operating income (loss) | 2,399,862 | 1,994,372 | 2,853,971 |
Assets | 50,308,249 | 48,750,186 | 47,427,597 |
Long-lived assets | 10,267,673 | 10,197,109 | 9,740,417 |
Geography Eliminations | |||
Net revenues | |||
Inter-segment sales and transfers | (8,006,406) | (7,134,700) | (7,283,744) |
Total net revenues | (8,006,406) | (7,134,700) | (7,283,744) |
Operating expenses | (7,986,563) | (7,134,004) | (7,300,860) |
Operating income (loss) | (19,843) | (696) | 17,116 |
Assets | 6,348,099 | 6,440,555 | 6,906,161 |
Japan | Reportable Geographical Components | |||
Net revenues | |||
Sales to external customers | 9,273,672 | 8,798,903 | 8,588,437 |
Inter-segment sales and transfers | 6,751,172 | 6,031,965 | 6,171,051 |
Total net revenues | 16,024,844 | 14,830,868 | 14,759,488 |
Operating expenses | 14,364,926 | 13,628,623 | 13,081,966 |
Operating income (loss) | 1,659,918 | 1,202,245 | 1,677,522 |
Assets | 15,797,024 | 14,791,969 | 14,291,434 |
Long-lived assets | 3,511,663 | 3,376,157 | 3,210,376 |
North America | Reportable Geographical Components | |||
Net revenues | |||
Sales to external customers | 10,347,266 | 10,033,419 | 10,822,772 |
Inter-segment sales and transfers | 227,144 | 205,672 | 229,198 |
Total net revenues | 10,574,410 | 10,239,091 | 11,051,970 |
Operating expenses | 10,435,511 | 9,927,897 | 10,523,151 |
Operating income (loss) | 138,899 | 311,194 | 528,819 |
Assets | 16,936,704 | 17,365,237 | 16,622,979 |
Long-lived assets | 5,179,139 | 5,274,928 | 4,958,989 |
Europe | Reportable Geographical Components | |||
Net revenues | |||
Sales to external customers | 2,940,243 | 2,517,601 | 2,507,292 |
Inter-segment sales and transfers | 244,981 | 163,438 | 154,039 |
Total net revenues | 3,185,224 | 2,681,039 | 2,661,331 |
Operating expenses | 3,110,198 | 2,693,283 | 2,588,915 |
Operating income (loss) | 75,026 | (12,244) | 72,416 |
Assets | 3,346,179 | 2,846,469 | 2,612,210 |
Long-lived assets | 359,355 | 313,182 | 309,657 |
Asia | Reportable Geographical Components | |||
Net revenues | |||
Sales to external customers | 4,497,374 | 4,279,617 | 4,475,623 |
Inter-segment sales and transfers | 650,765 | 540,204 | 528,236 |
Total net revenues | 5,148,139 | 4,819,821 | 5,003,859 |
Operating expenses | 4,714,940 | 4,384,642 | 4,554,670 |
Operating income (loss) | 433,199 | 435,179 | 449,189 |
Assets | 4,893,582 | 4,486,021 | 4,415,700 |
Long-lived assets | 797,435 | 828,619 | 869,989 |
Other Countries | Reportable Geographical Components | |||
Net revenues | |||
Sales to external customers | 2,320,955 | 1,967,653 | 2,008,994 |
Inter-segment sales and transfers | 132,344 | 193,421 | 201,220 |
Total net revenues | 2,453,299 | 2,161,074 | 2,210,214 |
Operating expenses | 2,340,636 | 2,102,380 | 2,101,305 |
Operating income (loss) | 112,663 | 58,694 | 108,909 |
Assets | 2,986,661 | 2,819,935 | 2,579,113 |
Long-lived assets | ¥ 420,081 | ¥ 404,223 | ¥ 391,406 |
Segment data - Additional Infor
Segment data - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Segment Reporting Information [Line Items] | |||
Total assets | ¥ 50,308,249 | ¥ 48,750,186 | ¥ 47,427,597 |
Corporate | |||
Segment Reporting Information [Line Items] | |||
Total assets | ¥ 9,386,399 | ¥ 9,177,953 | ¥ 9,369,868 |
Segment data (Revenues that are
Segment data (Revenues that are Attributed to Countries Based on Location of Customers, Excluding Customers in Japan (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Revenues | ¥ 29,379,510 | ¥ 27,597,193 | ¥ 28,403,118 |
North America | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Revenues | 10,403,647 | 10,054,431 | 10,797,304 |
Europe | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Revenues | 2,730,915 | 2,341,364 | 2,323,399 |
Asia | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Revenues | 4,793,110 | 4,414,236 | 4,292,800 |
Other Countries | |||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||
Revenues | ¥ 4,186,666 | ¥ 3,923,621 | ¥ 4,724,784 |
Segment data (Balance Sheets -
Segment data (Balance Sheets - Non-financial Services and Financial Services Businesses) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 |
Current assets | ||||
Cash and cash equivalents | ¥ 3,052,269 | ¥ 2,995,075 | ¥ 2,939,428 | ¥ 2,284,557 |
Marketable securities | 1,768,360 | 1,821,598 | ||
Finance receivables, net | 6,348,306 | 6,196,649 | ||
Inventories | 2,539,789 | 2,388,617 | ||
Prepaid expenses and other current assets | 833,788 | 796,297 | ||
Total current assets | 18,152,656 | 17,833,695 | ||
Noncurrent finance receivables, net | 9,481,618 | 9,012,222 | ||
Investments and other assets | 12,406,302 | 11,707,160 | ||
Property, plant and equipment | 10,267,673 | 10,197,109 | 9,740,417 | |
Total assets | 50,308,249 | 48,750,186 | 47,427,597 | |
Current liabilities | ||||
Short-term borrowings | 5,154,913 | 4,953,682 | ||
Current portion of long-term debt | 4,186,277 | 4,290,449 | ||
Accounts payable | 2,586,657 | 2,566,382 | ||
Accrued expenses | 3,104,260 | 3,137,827 | ||
Income taxes payable | 462,327 | 223,574 | ||
Other current liabilities | 1,254,241 | 1,210,113 | ||
Total current liabilities | 17,796,891 | 17,318,965 | ||
Long-term liabilities | ||||
Long-term debt | 10,006,374 | 9,911,596 | ||
Accrued pension and severance costs | 931,182 | 905,070 | ||
Other long-term liabilities | 533,561 | 521,876 | ||
Total long-term liabilities | 12,589,282 | 12,762,268 | ||
Total liabilities | 30,386,173 | 30,081,233 | ||
Mezzanine equity | 491,974 | 485,877 | ||
Total Toyota Motor Corporation shareholders' equity | 18,735,982 | 17,514,812 | ||
Noncontrolling interests | 694,120 | 668,264 | ||
Total shareholders' equity | 19,430,102 | 18,183,076 | 17,608,407 | 17,647,329 |
Total liabilities, mezzanine equity and shareholders' equity | 50,308,249 | 48,750,186 | ||
Eliminations | ||||
Current assets | ||||
Total assets | (1,110,927) | (999,385) | ||
Long-term liabilities | ||||
Total liabilities | (1,110,934) | (999,392) | ||
Non Financial Services Businesses | ||||
Current assets | ||||
Cash and cash equivalents | 2,390,524 | 2,257,064 | 2,318,152 | 1,680,994 |
Marketable securities | 1,546,459 | 1,439,944 | ||
Trade accounts and notes receivable, less allowance for doubtful accounts | 2,304,676 | 2,191,594 | ||
Inventories | 2,539,497 | 2,388,394 | ||
Prepaid expenses and other current assets | 1,818,687 | 1,988,016 | ||
Total current assets | 10,599,843 | 10,265,012 | ||
Investments and other assets | 11,861,394 | 11,276,128 | ||
Property, plant and equipment | 5,901,958 | 5,700,818 | ||
Total assets | 28,363,195 | 27,241,958 | ||
Current liabilities | ||||
Short-term borrowings | 541,968 | 669,947 | ||
Current portion of long-term debt | 179,994 | 196,227 | ||
Accounts payable | 2,556,393 | 2,540,078 | ||
Accrued expenses | 2,980,981 | 3,038,218 | ||
Income taxes payable | 429,616 | 203,101 | ||
Other current liabilities | 1,797,724 | 1,512,662 | ||
Total current liabilities | 8,486,676 | 8,160,233 | ||
Long-term liabilities | ||||
Long-term debt | 642,691 | 590,366 | ||
Accrued pension and severance costs | 917,133 | 890,684 | ||
Other long-term liabilities | 1,111,843 | 1,206,427 | ||
Total long-term liabilities | 2,671,667 | 2,687,477 | ||
Total liabilities | 11,158,343 | 10,847,710 | ||
Financial Services Business | ||||
Current assets | ||||
Cash and cash equivalents | 661,745 | 738,011 | ¥ 621,276 | ¥ 603,563 |
Marketable securities | 221,901 | 381,654 | ||
Finance receivables, net | 6,348,306 | 6,196,649 | ||
Prepaid expenses and other current assets | 957,122 | 831,924 | ||
Total current assets | 8,189,074 | 8,148,238 | ||
Noncurrent finance receivables, net | 9,481,618 | 9,012,222 | ||
Investments and other assets | 1,019,574 | 850,862 | ||
Property, plant and equipment | 4,365,715 | 4,496,291 | ||
Total assets | 23,055,981 | 22,507,613 | ||
Current liabilities | ||||
Short-term borrowings | 4,929,478 | 4,605,389 | ||
Current portion of long-term debt | 4,053,538 | 4,129,005 | ||
Accounts payable | 40,251 | 33,283 | ||
Accrued expenses | 145,127 | 117,773 | ||
Income taxes payable | 32,711 | 20,473 | ||
Other current liabilities | 870,634 | 833,813 | ||
Total current liabilities | 10,071,739 | 9,739,736 | ||
Long-term liabilities | ||||
Long-term debt | 9,574,118 | 9,491,504 | ||
Accrued pension and severance costs | 14,049 | 14,386 | ||
Other long-term liabilities | 678,858 | 987,289 | ||
Total long-term liabilities | 10,267,025 | 10,493,179 | ||
Total liabilities | ¥ 20,338,764 | ¥ 20,232,915 |
Segment data (Statements of Inc
Segment data (Statements of Income - Non-financial Services and Financial Services Businesses) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Net revenues | ¥ 29,379,510 | ¥ 27,597,193 | ¥ 28,403,118 |
Costs and expenses | |||
Selling, general and administrative | 3,090,495 | 2,868,485 | 2,943,682 |
Total costs and expenses | 26,979,648 | 25,602,821 | 25,549,147 |
Operating income | 2,399,862 | 1,994,372 | 2,853,971 |
Other income (expense), net | 220,567 | 199,453 | 129,410 |
Income before income taxes and equity in earnings of affiliated companies | 2,620,429 | 2,193,825 | 2,983,381 |
Provision for income taxes | 504,406 | 628,900 | 878,269 |
Equity in earnings of affiliated companies | 470,083 | 362,060 | 329,099 |
Net income | 2,586,106 | 1,926,985 | 2,434,211 |
Less - Net income attributable to noncontrolling interests | (92,123) | (95,876) | (121,517) |
Net income attributable to Toyota Motor Corporation | 2,493,983 | 1,831,109 | 2,312,694 |
Eliminations | |||
Costs and expenses | |||
Net income attributable to Toyota Motor Corporation | (2) | 147 | 300 |
Non Financial Services Businesses | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Net revenues | 27,448,165 | 25,845,453 | 26,581,102 |
Costs and expenses | |||
Cost of revenues | 22,613,450 | 21,557,194 | 21,474,386 |
Selling, general and administrative | 2,721,362 | 2,511,647 | 2,589,082 |
Total costs and expenses | 25,334,812 | 24,068,841 | 24,063,468 |
Operating income | 2,113,353 | 1,776,612 | 2,517,634 |
Other income (expense), net | 222,326 | 200,370 | 117,930 |
Income before income taxes and equity in earnings of affiliated companies | 2,335,679 | 1,976,982 | 2,635,564 |
Provision for income taxes | 738,763 | 562,452 | 752,248 |
Equity in earnings of affiliated companies | 467,718 | 360,130 | 327,167 |
Net income | 2,064,634 | 1,774,660 | 2,210,483 |
Less - Net income attributable to noncontrolling interests | (89,533) | (89,337) | (117,544) |
Net income attributable to Toyota Motor Corporation | 1,975,101 | 1,685,323 | 2,092,939 |
Financial Services Business | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Net revenues | 2,017,008 | 1,823,600 | 1,896,224 |
Costs and expenses | |||
Cost of revenues | 1,320,348 | 1,221,268 | 1,181,437 |
Selling, general and administrative | 411,114 | 379,904 | 375,561 |
Total costs and expenses | 1,731,462 | 1,601,172 | 1,556,998 |
Operating income | 285,546 | 222,428 | 339,226 |
Other income (expense), net | (794) | (5,618) | 8,579 |
Income before income taxes and equity in earnings of affiliated companies | 284,752 | 216,810 | 347,805 |
Provision for income taxes | (234,356) | 66,583 | 126,319 |
Equity in earnings of affiliated companies | 2,365 | 1,930 | 1,932 |
Net income | 521,473 | 152,157 | 223,418 |
Less - Net income attributable to noncontrolling interests | (2,589) | (6,518) | (3,963) |
Net income attributable to Toyota Motor Corporation | ¥ 518,884 | ¥ 145,639 | ¥ 219,455 |
Segment data (Statement of Cash
Segment data (Statement of Cash Flows - Non-financial Services and Financial Services Businesses) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Cash flows from operating activities | |||
Net income | ¥ 2,586,106 | ¥ 1,926,985 | ¥ 2,434,211 |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Depreciation | 1,734,033 | 1,610,950 | 1,625,837 |
Provision for doubtful accounts and credit losses | 76,069 | 98,666 | 159,265 |
Pension and severance costs, less payments | 4,286 | 23,253 | 8,833 |
Losses on disposal of fixed assets | 35,289 | 30,673 | 33,329 |
Unrealized losses on available-for-sale securities, net | 846 | 7,073 | 9,272 |
Deferred income taxes | (237,961) | (53,299) | 32,889 |
Equity in earnings of affiliated companies | (470,083) | (362,060) | (329,099) |
Changes in operating assets and liabilities, and other | 481,424 | 131,996 | 486,320 |
Net cash provided by operating activities | 4,210,009 | 3,414,237 | 4,460,857 |
Cash flows from investing activities | |||
Additions to finance receivables | (15,058,516) | (13,636,694) | (13,549,278) |
Collection of and proceeds from sales of finance receivables | 14,046,312 | 12,927,981 | 13,115,854 |
Additions to fixed assets excluding equipment leased to others | (1,291,117) | (1,223,878) | (1,282,545) |
Additions to equipment leased to others | (2,307,590) | (2,317,559) | (2,776,671) |
Proceeds from sales of fixed assets excluding equipment leased to others | 71,820 | 41,238 | 42,147 |
Proceeds from sales of equipment leased to others | 1,211,272 | 1,238,278 | 1,111,727 |
Purchases of marketable securities and security investments | (3,052,916) | (2,517,008) | (2,197,477) |
Proceeds from sales of and maturity of marketable securities and security investments | 2,523,538 | 1,901,541 | 3,415,815 |
Payment for additional investments in affiliated companies, net of cash acquired | (576) | 44,274 | 628 |
Changes in investments and other assets, and other | 197,681 | 571,888 | (1,062,744) |
Net cash used in investing activities | (3,660,092) | (2,969,939) | (3,182,544) |
Cash flows from financing activities | |||
Proceeds from issuance of long-term debt | 4,793,939 | 4,603,446 | 4,845,872 |
Payments of long-term debt | (4,452,338) | (3,845,554) | (4,176,202) |
Increase (decrease) in short-term borrowings | 347,738 | 273,037 | (10,903) |
Proceeds from issuance of class shares | 474,917 | ||
Dividends paid to Toyota Motor Corporation class shareholders | (6,194) | (3,697) | (1,225) |
Dividends paid to Toyota Motor Corporation common shareholders | (620,698) | (634,475) | (704,728) |
Dividends paid to noncontrolling interests | (63,764) | (63,936) | (73,129) |
Reissuance (repurchase) of treasury stock, and other | (447,818) | (703,986) | (778,173) |
Net cash provided by (used in) financing activities | (449,135) | (375,165) | (423,571) |
Effect of exchange rate changes on cash and cash equivalents | (43,588) | (13,486) | (199,871) |
Net increase (decrease) in cash and cash equivalents | 57,194 | 55,647 | 654,871 |
Cash and cash equivalents at beginning of year | 2,995,075 | 2,939,428 | 2,284,557 |
Cash and cash equivalents at end of year | 3,052,269 | 2,995,075 | 2,939,428 |
Non Financial Services Businesses | |||
Cash flows from operating activities | |||
Net income | 2,064,634 | 1,774,660 | 2,210,483 |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Depreciation | 1,010,972 | 939,795 | 927,846 |
Provision for doubtful accounts and credit losses | (74) | 6,519 | 69,029 |
Pension and severance costs, less payments | 5,027 | 21,796 | 8,300 |
Losses on disposal of fixed assets | 35,010 | 30,461 | 33,293 |
Unrealized losses on available-for-sale securities, net | 459 | 4,422 | 3,217 |
Deferred income taxes | 64,143 | (59,668) | (43,237) |
Equity in earnings of affiliated companies | (467,718) | (360,130) | (327,167) |
Changes in operating assets and liabilities, and other | 205,434 | 206,455 | 386,529 |
Net cash provided by operating activities | 2,917,887 | 2,564,310 | 3,268,293 |
Cash flows from investing activities | |||
Additions to fixed assets excluding equipment leased to others | (1,276,788) | (1,206,738) | (1,265,174) |
Additions to equipment leased to others | (155,114) | (152,550) | (155,931) |
Proceeds from sales of fixed assets excluding equipment leased to others | 70,755 | 40,189 | 41,154 |
Proceeds from sales of equipment leased to others | 63,402 | 72,659 | 60,989 |
Purchases of marketable securities and security investments | (2,273,805) | (2,104,202) | (1,302,965) |
Proceeds from sales of and maturity of marketable securities and security investments | 1,762,189 | 1,435,267 | 2,471,876 |
Payment for additional investments in affiliated companies, net of cash acquired | (576) | 44,274 | 628 |
Changes in investments and other assets, and other | 260,015 | 582,649 | (1,371,996) |
Net cash used in investing activities | (1,549,922) | (1,288,452) | (1,521,419) |
Cash flows from financing activities | |||
Proceeds from issuance of long-term debt | 212,387 | 111,727 | 110,691 |
Payments of long-term debt | (170,072) | (82,840) | (71,758) |
Increase (decrease) in short-term borrowings | (122,222) | 51,523 | 75,990 |
Proceeds from issuance of class shares | 474,917 | ||
Dividends paid to Toyota Motor Corporation class shareholders | (6,194) | (3,697) | (1,225) |
Dividends paid to Toyota Motor Corporation common shareholders | (620,698) | (634,475) | (704,728) |
Dividends paid to noncontrolling interests | (63,764) | (63,936) | (73,129) |
Reissuance (repurchase) of treasury stock, and other | (447,818) | (703,986) | (778,173) |
Net cash provided by (used in) financing activities | (1,218,381) | (1,325,684) | (967,415) |
Effect of exchange rate changes on cash and cash equivalents | (16,124) | (11,262) | (142,301) |
Net increase (decrease) in cash and cash equivalents | 133,460 | (61,088) | 637,158 |
Cash and cash equivalents at beginning of year | 2,257,064 | 2,318,152 | 1,680,994 |
Cash and cash equivalents at end of year | 2,390,524 | 2,257,064 | 2,318,152 |
Financial Services Business | |||
Cash flows from operating activities | |||
Net income | 521,473 | 152,157 | 223,418 |
Adjustments to reconcile net income to net cash provided by operating activities | |||
Depreciation | 723,061 | 671,155 | 697,991 |
Provision for doubtful accounts and credit losses | 76,143 | 92,147 | 90,236 |
Pension and severance costs, less payments | (741) | 1,457 | 533 |
Losses on disposal of fixed assets | 279 | 212 | 36 |
Unrealized losses on available-for-sale securities, net | 387 | 2,651 | 6,055 |
Deferred income taxes | (302,103) | 6,504 | 76,423 |
Equity in earnings of affiliated companies | (2,365) | (1,930) | (1,932) |
Changes in operating assets and liabilities, and other | 299,709 | 103,840 | 148,376 |
Net cash provided by operating activities | 1,315,843 | 1,028,193 | 1,241,136 |
Cash flows from investing activities | |||
Additions to finance receivables | (25,153,088) | (22,894,114) | (23,399,113) |
Collection of and proceeds from sales of finance receivables | 24,117,335 | 22,006,010 | 22,918,132 |
Additions to fixed assets excluding equipment leased to others | (14,329) | (17,140) | (17,371) |
Additions to equipment leased to others | (2,152,476) | (2,165,009) | (2,620,740) |
Proceeds from sales of fixed assets excluding equipment leased to others | 1,065 | 1,049 | 993 |
Proceeds from sales of equipment leased to others | 1,147,870 | 1,165,619 | 1,050,738 |
Purchases of marketable securities and security investments | (779,111) | (412,806) | (894,512) |
Proceeds from sales of and maturity of marketable securities and security investments | 761,349 | 466,274 | 943,939 |
Changes in investments and other assets, and other | (106,597) | (60,345) | 296,788 |
Net cash used in investing activities | (2,177,982) | (1,910,462) | (1,721,146) |
Cash flows from financing activities | |||
Proceeds from issuance of long-term debt | 4,666,579 | 4,541,541 | 4,815,323 |
Payments of long-term debt | (4,314,294) | (3,773,644) | (4,127,178) |
Increase (decrease) in short-term borrowings | 461,052 | 233,331 | (132,852) |
Net cash provided by (used in) financing activities | 813,337 | 1,001,228 | 555,293 |
Effect of exchange rate changes on cash and cash equivalents | (27,464) | (2,224) | (57,570) |
Net increase (decrease) in cash and cash equivalents | (76,266) | 116,735 | 17,713 |
Cash and cash equivalents at beginning of year | 738,011 | 621,276 | 603,563 |
Cash and cash equivalents at end of year | ¥ 661,745 | ¥ 738,011 | ¥ 621,276 |
Per share amounts (Reconciliati
Per share amounts (Reconciliations of Differences Between Basic and Diluted Net Income Attributable to Toyota Motor Corporation Per Common Share) (Detail) - JPY (¥) ¥ / shares in Units, shares in Thousands, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share Disclosure [Line Items] | |||
Net income attributable to Toyota Motor Corporation | ¥ 2,493,983 | ¥ 1,831,109 | ¥ 2,312,694 |
Accretion to Mezzanine equity | (4,849) | (4,849) | (3,638) |
Dividends to Toyota Motor Corporation Model AA Class Shareholders | (7,442) | (4,946) | (2,449) |
Net income attributable to Toyota Motor Corporation, basic | 2,481,692 | 1,821,314 | 2,306,607 |
Effect of dilutive securities | |||
Model AA Class Shares | 12,291 | 9,795 | 6,087 |
Assumed exercise of dilutive stock options | (4) | (6) | (21) |
Net income attributable to Toyota Motor Corporation, diluted | ¥ 2,493,979 | ¥ 1,831,103 | ¥ 2,312,673 |
Weighted-average shares, basic | 2,947,365 | 3,008,088 | 3,111,306 |
Effect of dilutive securities | |||
Model AA Class Shares | 47,100 | 47,100 | 32,429 |
Assumed exercise of dilutive stock options | 301 | 638 | 1,212 |
Weighted-average shares, diluted | 2,994,766 | 3,055,826 | 3,144,947 |
Net income attributable to Toyota Motor Corporation per share, basic | ¥ 842 | ¥ 605.47 | ¥ 741.36 |
Net income attributable to Toyota Motor Corporation per share, diluted | ¥ 832.78 | ¥ 599.22 | ¥ 735.36 |
Per share amounts (Toyota Motor
Per share amounts (Toyota Motor Corporation Shareholders' Equity Per Share) (Detail) - JPY (¥) ¥ / shares in Units, shares in Thousands, ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||
Total Toyota Motor Corporation shareholders' equity | ¥ 18,735,982 | ¥ 17,514,812 |
Common shares issued and outstanding at the end of the year (excluding treasury stock) | 2,909,924 | 2,974,723 |
Toyota Motor Corporation shareholders' equity per share | ¥ 6,438.65 | ¥ 5,887.88 |
Fair value measurements (Fair V
Fair value measurements (Fair Values of Assets and Liabilities Measured at Fair Value on Recurring Basis) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Assets | ||
Derivative financial instruments | ¥ 257,804 | ¥ 243,421 |
Liabilities | ||
Derivative financial instruments | (197,156) | (245,457) |
Fair Value, Measurements, Recurring | ||
Assets | ||
Cash equivalents | 819,106 | 933,482 |
Time deposits | 400,000 | 600,000 |
Derivative financial instruments | 257,804 | 243,421 |
Total | 11,104,738 | 11,176,236 |
Liabilities | ||
Derivative financial instruments | (197,156) | (245,457) |
Total | (197,156) | (245,457) |
Fair Value, Measurements, Recurring | Public and Corporate Bonds | ||
Assets | ||
Marketable securities and other securities investments | 6,308,734 | 5,885,831 |
Fair Value, Measurements, Recurring | Common stocks | ||
Assets | ||
Marketable securities and other securities investments | 2,582,115 | 2,686,934 |
Fair Value, Measurements, Recurring | Other Investments | ||
Assets | ||
Marketable securities and other securities investments | 220,028 | 91,437 |
Fair Value, Measurements, Recurring | Investments | ||
Assets | ||
Marketable securities and other securities investments | 516,951 | 735,131 |
Level 1 | Fair Value, Measurements, Recurring | ||
Assets | ||
Cash equivalents | 44,897 | 41,876 |
Total | 7,574,313 | 7,544,500 |
Level 1 | Fair Value, Measurements, Recurring | Public and Corporate Bonds | ||
Assets | ||
Marketable securities and other securities investments | 4,778,019 | 4,797,499 |
Level 1 | Fair Value, Measurements, Recurring | Common stocks | ||
Assets | ||
Marketable securities and other securities investments | 2,582,115 | 2,686,934 |
Level 1 | Fair Value, Measurements, Recurring | Other Investments | ||
Assets | ||
Marketable securities and other securities investments | 169,282 | 18,191 |
Level 2 | Fair Value, Measurements, Recurring | ||
Assets | ||
Cash equivalents | 774,209 | 891,606 |
Time deposits | 400,000 | 600,000 |
Derivative financial instruments | 257,795 | 243,334 |
Total | 3,005,977 | 2,887,571 |
Liabilities | ||
Derivative financial instruments | (194,935) | (237,848) |
Total | (194,935) | (237,848) |
Level 2 | Fair Value, Measurements, Recurring | Public and Corporate Bonds | ||
Assets | ||
Marketable securities and other securities investments | 1,523,227 | 1,079,385 |
Level 2 | Fair Value, Measurements, Recurring | Other Investments | ||
Assets | ||
Marketable securities and other securities investments | 50,746 | 73,246 |
Level 3 | Fair Value, Measurements, Recurring | ||
Assets | ||
Derivative financial instruments | 9 | 87 |
Total | 7,497 | 9,034 |
Liabilities | ||
Derivative financial instruments | (2,221) | (7,609) |
Total | (2,221) | (7,609) |
Level 3 | Fair Value, Measurements, Recurring | Public and Corporate Bonds | ||
Assets | ||
Marketable securities and other securities investments | ¥ 7,488 | ¥ 8,947 |
Fair value measurements - Addit
Fair value measurements - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Level 3 | ||
Fair Value Measurements [Line Items] | ||
Finance receivables, fair value | ¥ 45,492 | ¥ 47,999 |
Level 3 | Financing receivable | ||
Fair Value Measurements [Line Items] | ||
Fair value, assets measured on nonrecurring basis, gain (loss) | ¥ 4,190 | ¥ 2,405 |
Japanese bonds | Available-for-sale Securities | Public and Corporate Bonds | ||
Fair Value Measurements [Line Items] | ||
Percentage of Assets | 16.00% | 28.00% |
U.S., European and other bonds | Available-for-sale Securities | Public and Corporate Bonds | ||
Fair Value Measurements [Line Items] | ||
Percentage of Assets | 84.00% | 72.00% |
Japan | Available-for-sale Securities | Common stocks | ||
Fair Value Measurements [Line Items] | ||
Percentage of Assets | 93.00% | 92.00% |
Maximum | ||
Fair Value Measurements [Line Items] | ||
Cash equivalents maturity period | 3 months | |
Maximum | Level 2 | Cash Equivalents | ||
Fair Value Measurements [Line Items] | ||
Negotiable certificate of deposit original maturities | 3 months | |
Minimum | Level 2 | Time Deposit | ||
Fair Value Measurements [Line Items] | ||
Negotiable certificate of deposit original maturities | 3 months |
Fair value measurements (Change
Fair value measurements (Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance at beginning of year | ¥ 1,425 | ¥ 13,183 | ¥ 13,327 |
Total gains (losses) | |||
Included in income (loss) | 822 | (7,326) | 2,508 |
Included in other comprehensive income (loss) | (12) | 60 | (286) |
Purchases and issuances | 3,860 | 1,126 | 931 |
Settlements | (419) | (4,975) | (1,930) |
Other | (400) | (643) | (1,367) |
Balance at end of year | 5,276 | 1,425 | 13,183 |
Derivative financial instruments | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance at beginning of year | (7,522) | 2,849 | 1,010 |
Total gains (losses) | |||
Included in income (loss) | 805 | (7,310) | 2,507 |
Settlements | 4,320 | (2,693) | (479) |
Other | 185 | (368) | (189) |
Balance at end of year | (2,212) | (7,522) | 2,849 |
Investments | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance at beginning of year | 8,947 | 10,334 | 12,317 |
Total gains (losses) | |||
Included in income (loss) | 17 | (16) | 1 |
Included in other comprehensive income (loss) | (12) | 60 | (286) |
Purchases and issuances | 3,860 | 1,126 | 931 |
Settlements | (4,739) | (2,282) | (1,451) |
Other | (585) | (275) | (1,178) |
Balance at end of year | ¥ 7,488 | ¥ 8,947 | ¥ 10,334 |