Report

PSA Autos / Mobility: FY24 Q2 Results for Toyota (7203 JT) and Honda (7267 JT)

Julie Boote reviews the latest performance from two of Japan’s large automakers.
Underlyings
Hino Motors Ltd.

Hino Motors is a manufacturer of large, medium-duty, and light-duty trucks, buses and passenger vehicles. Co. is engaged in the design, development, manufacture and sale as well as the provision of services of diesel trucks, buses, special-purpose vehicles, industrial and marine diesel engines and spare parts. Co.'s truck models include light-duty truck "HINO Dutro," light-duty/medium-duty truck "HINO Ranger" and heavy-duty truck "HINO Profia." Co's bus models include "Hino Rainbow"and "Hino Liesse." Co. also manufactures passenger vehicles, commissioned from Toyota Motor Corp., including the sport-utility vehicles and commercial vehicles.

Honda Motor Co. Ltd.

Honda Motor is the parent company of a group mainly develop, manufacture and distribute motorcycles, automobiles, power products, and also provide financing for the sale of those products. Principal manufacturing facilities are located in Japan, the United States of America, Canada, Mexico, the United Kingdom, Turkey, China, India, Indonesia, Malaysia, Thailand, Vietnam, Argentina, and Brazil. Co.'s principal business segments are motorcycles, automobiles, financial services, and power products & other business. Co.'s principal automobile products include passenger cars such as "Legend," "Accord," "Inspire," "Civic," "Insight," "City," "Acura RL," "Acura TL," "Acura TSX," and "Acura CSX".

Toyota Motor Corp.

Toyota Motor is an automobile manufacturer. Co. is 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. Co. provides 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 Co. Co.'s principal business segments are automotive operations, financial services operations and other operations. Co. sells its vehicles in approximately 190 countries and regions, and markets for its automobiles in Japan, North America, Europe and Asia.

Provider
Pelham Smithers Associates Ltd
Pelham Smithers Associates Ltd

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries. 

The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012. 

Analysts
Julie Boote

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