ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Distribution Services

Toyota Tsusho Corp.

Business Summary

Toyota Tsusho Corp. engages in domestic trade of various products, their import and export, foreign government trading, contracted construction, and insurance agency services. It operates through the following business segments: Metals, Global Production Parts and Logistics, Automotive, Machinery, Energy, and Project, Chemicals and Electronics, Food and Consumer Products, Africa, and Others. The Metals segment manufactures, processes, sells, and disposes ordinary and special steel products, non-ferrous and precious metals, copper and copper alloy products, rare earth materials, and new metals. The Global Production Parts and Logistics segment ensures stable supply of automotive parts and utilizes integrated logistics services encompassing packaging, marine container transport, sorting, reloading, and final delivery. The Automotive segment sells and provides services for passenger, commercial, light, and two-wheeled vehicles, trucks and buses, and automotive parts. The Machinery, Energy, and Project segment handles various machinery and equipment, industrial vehicles, and construction machinery; procures basic energy resources such as petroleum, coal, and natural gas; and engages in energy and electric power supply and water treatment businesses. The Chemicals and Electronics segment offers automotive components, semiconductor, electronic parts, module products, and automotive integration software. It also provides network construction and maintenance. The Produce and Consumer Products segment manufactures, processes, and sells livestock feeds, grains, processed food products, food ingredients, agricultural, marine, livestock, and alcoholic beverages. It also covers products and services related to insurance and securities, textile products and apparel, nursing and medical-related products, office furniture, construction and housing materials, hospitals, and hotel residences. The Africa segment deals with the Africa automobile, healthcare, and consumer finance and retail businesses; as well as electricity infrastructure, agriculture, and information and communications technology (ICT). The Others segment includes functional services to provide operational support to the whole group. The company was founded on July 1, 1948 and is headquartered in Nagoya, Japan.

Financial Highlights

Mar 2021 JPYUSD
Gross Profit554,878M5,231.86M
Operating income205,997M1,942.31M
Income before tax213,902M2,016.85M
Net income134,603M1,269.15M
Diluted EPS382.563.60
Dividends Per Share1121.05
Total Assets5,228.00B47,312.25M
Total liabilities3,569.98B32,307.55M
Total equity1,469.65B13,300.06M
Operating cash flow245,055M2,310.58M
Currency in JPYCurrency in USD

Historical Data

 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 5,797.36B 6,491.03B 6,762.70B 6,694.07B 6,309.30B
Gross Profit 535,499M 569,888M 603,917M 585,503M 554,878M
Operating income 159,637M 192,240M 217,772M 204,895M 205,997M
Income before tax 140,895M 209,749M 229,193M 224,801M 213,902M
Net income 107,903M 130,228M 132,623M 135,552M 134,603M
EBITDA 235,702M 272,432M 293,777M 308,453M 310,346M
Diluted EPS 306.63 370.08 376.89 385.24 382.56
Dividends Per Share 70 94 100 110 112
Total Assets 4,212.06B 4,310.04B 4,441.46B 4,545.21B 5,228.00B
Total liabilities 2,988.54B 2,947.85B 3,051.84B 3,172.71B 3,569.98B
Total equity 1,050.61B 1,174.71B 1,195.82B 1,196.63B 1,469.65B
Operating cash flow 159,770M 215,098M 210,796M 267,809M 245,055M
 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 53,536.76M 58,566.21M 60,983.11M 61,568.39M 59,489.50M
Gross Profit 4,945.15M 5,141.88M 5,445.86M 5,385.13M 5,231.86M
Operating income 1,474.19M 1,734.51M 1,963.77M 1,884.51M 1,942.31M
Income before tax 1,301.11M 1,892.48M 2,066.76M 2,067.59M 2,016.85M
Net income 996.44M 1,174.99M 1,195.93M 1,246.73M 1,269.15M
EBITDA 2,176.63M 2,458.05M 2,649.15M 2,836.98M 2,926.20M
Diluted EPS 2.83 3.33 3.39 3.54 3.60
Dividends Per Share 0.64 0.84 0.90 1.01 1.05
Total Assets 37,800.08M 40,526.95M 40,127.06M 42,102.81M 47,312.25M
Total liabilities 26,819.96M 27,718.39M 27,572.34M 29,389.23M 32,307.55M
Total equity 9,428.51M 11,045.77M 10,803.87M 11,084.57M 13,300.06M
Operating cash flow 1,475.42M 1,940.74M 1,900.86M 2,463.16M 2,310.58M

Valuation Measures

Mar 2021
Operating margin3.26%
Profit margin2.13%

Key executives

  • President, CEO & Representative Director: Ichiro Kashitani
  • CFO, Director, Head-Accounting & Legal Affairs: Hideyuki Iwamoto
  • Director, Chief Strategy &Human Resources Officer: Hiroshi Tominaga
  • Director, VP & Chief Compliance Officer: Takahiro Kondo
  • Executive Officer: Atsushi Aoki


  • Toyota Motor Corp. (21.5%)
  • Toyota Industries Corp. (11.1%)
  • Nomura Asset Management Co., Ltd. (5.2%)
  • Nikko Asset Management Co., Ltd. (2.3%)
  • Daiwa Asset Management Co. Ltd. (2.3%)
  • Mitsubishi UFJ Financial Group, Inc. (2.2%)
  • MS&AD Insurance Group Holdings, Inc. (1.6%)
  • Baillie Gifford & Co. (1.5%)
  • The Vanguard Group, Inc. (1.5%)
  • Mitsubishi UFJ Kokusai Asset Management Co., Ltd. (1.2%)

Contact Details

Related Companies

  • Eurus Chile Investments SpA
  • Toyota Tsusho Connected Middle East Fzco
  • Toyotsu Automotive Creation Corp.
  • Mobility 54 Investment SAS
  • Toyota Tsusho Restricted Stock Compensation Plan
  • Toyota Tsusho Systems Corp.
  • Toyotsu Tekkou Hanbai Corp
  • Toyota Tsusho Material, Inc.
  • Toyotsu Machinery Corp.
  • Toyotsu Office Service Corp.
  • Toyota Tsusho Insurance Partners Corp.
  • Toyota Tsusho Corp. (Venture Capital)
  • Bis caye Co., Ltd.
  • Mirra & Mirra Industries Pvt Ltd.
  • Toyota Tsusho (Dalian) Co. Ltd.
  • Tomen Panama Asset Management SA
  • Guangzhou Toyotsu Automobile Equipment Co. Ltd.
  • K&T Foods Co. Ltd.
  • Shenyang Huatong Toyota Service Co. Ltd.
  • Guangzhou Guangqi Toyotsu Resource Management Co. Ltd.
  • Guangzhou Fengzhong Aluminium Smelting Technology Co. Ltd.
  • Toyota Del Ecuador SA
  • Tianjin Fengtian Steel Process Co. Ltd.
  • Modified Starch Industries Sdn. Bhd.
  • Tianjin Nitic Insurance Brokers Co. Ltd.
  • Toyota Tsusho (South Sea) Ltd.
  • Toyota Tsusho (Solomon Islands) Ltd.
  • Toyota Tsusho (PNG) Ltd.
  • Toyota Tsusho Vostok Auto Co. Ltd.
  • Toyota Tsusho Re Singapore Pte Ltd.


  • Russel Metals Inc.
  • WPG Holding Co Ltd
  • Sociedad Quimica y Minera de Chile SA Pfd Series B
  • Australian Silica Quartz Group Limited
Last Updated on 22 Sep, 2021

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends July 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more