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Corporate Guide
Utilize regional strategy to
achieve sustainable growth
Toyota Financial Services Corporation (TFS), wholly owned by Toyota Motor
Corporation (TMC), was established in July 2000 as a holding company of
Toyota’s financial subsidiaries, which offer financial products and services
to support vehicle sales. Our mission is to “Provide sound financial services
that contribute to a prosperous life for Toyota customers and others” as
we support our customers’ life events. To meet the financing needs of our
customers, we have expanded our global presence to cover over 30 countries
across multiple regions. We now serve over 15 million customers.
The US sub-prime crisis in 2007 and the Lehman Brothers shock in late
2008, triggered a global financial crisis that resulted in a serious economic
downturn. Subsequently there has been slow recovery due to economic
stimulating measures by each government and central bank, as well as the
effort of private sectors. Recently, however, new threats have emerged, such
as Greece issue, and stricter financial regulation in America and Europe.
The current business environment can be described as “unusually uncertain”
stated by Mr. Ben Bernanke, chairman of the FRB.
Takeshi Suzuki
President & CEO In light of these factors there has been an unexpectedly rapid return to
Toyota Financial profitability in the global auto industry due to new car sales incentives and
Services Corporation
cost reduction efforts within the industry. However, the recovery in new car
sales is threatened by the cessation of government support measures and the
economic recovery slowdown. Competition has increased in emerging markets,
such as China and India, as sales of small cars have increased substantially
and companies within the auto industry have formed new alliances.
The TFS Group is celebrating its 10th anniversary this year. We will continue
to pursue customer satisfaction through our financial subsidiaries and
partnerships with TMC, distributors and Toyota and Lexus dealers worldwide,
and also continue to build on our experiences gained over the last 10 years.
Thank you.
Toyota Financial Services Corporation is made up of affiliates in more than 30 countries
and regions. Wherever we operate, we conduct business with the highest ethical standards
and a fair and sincere attitude. We aim to have a positive impact in the communities
in which we operate. Our products and services differ from country to country to meet
market conditions and regulatory requirements, but around the world we are a company
focused on delivering quality products that meet our customers’ needs.
Financiera de We are proud to offer unique financial products and services to our customers and dealers, whose
Argentina SA), I’m satisfaction is the ultimate achievement. Some examples of our unique product offering include the
treated as a real Lexus Pursuits Visa® and Toyota Rewards Visa® Credit Cards in the United States and the Secured
customer. And I
appreciate the Loan in Brazil.
range of financial
products for my Secured Loan Commercial Finance Lexus Pursuits Visa® and Toyota
customers and my (Brazil) (United States) Rewards Visa® Credit Cards
company together (United States)
with an excellent Banco Toyota do Brazil TFS Commercial Finance (CF)
service level.” (BTB) offers secured loans to provides financial solutions The Lexus Pursuits Visa® Credit
Mariano Fernandez customers using their Toyotas as supporting Toyota Material Card, introduced in 2005 by
President collateral. In this process dealers Handling, USA (TMHU), the Lexus Financial Savings Bank,
Kansai SA inspect the vehicles prior to world leader in material offers one of the richest rewards
Argentina funding of the loan, giving them handling equipment such as programs in the industry,
the opportunity to continue their forklifts. CF finances specialized providing the high-quality
relationship with the customer. equipment, such as scissor service and care that Lexus
Customers are delighted to lifts that are heavily used in customers have come to expect.
obtain a loan with an interest the commercial construction
rate lower than most banks and industry. CF supports our The Toyota Rewards Visa®
credit card companies. And, BTB commercial customers by Credit Card, issued by Toyota
maintains a relationship with financing warehouse equipment Financial Savings Bank in 2008,
the customer during this interim such as floor sweepers and offers Toyota customers a
period before the customer’s scrubbers, shelving and rack similar product to earn points
next vehicle purchase. systems, and robotic conveyer that can be applied toward the
systems. In addition, CF provides purchase of parts, accessories,
financing for Hino Motor Sales, service and new vehicle
USA, a respected medium duty purchases and leases. Both
commercial truck manufacturer. cards serve as direct consumer
products in the United States in
which interested individuals can
apply at the dealership, through
direct mail or via the Web.
TFS by Region
The Europe Africa Region
Europe During this time of uncertainty in the global
Africa economy, TFS must demonstrate strong
(15 locations) and clear leadership. Certainly we need
to pay close attention to risk management
policies and cost base reduction during the
coming year, however, this difficult economic
climate should not distract TFS from its
strategic direction. Our priorities are threefold. Firstly, to focus on our core business by continuing to
support TMC vehicle sales, by providing a range of branded Contract Purchase and Leasing products
to Toyota customers. These products not only act as a sales enabler for Toyota and Lexus, but also
allow effective management of the customer purchase cycle. This leads to the second element of our
business strategy, which is to enhance our customer relationship management capability. Increasing
our customer retention levels and cross-selling additional products is an area where we must strive to
improve. Finally, the third component of our business strategy is the development of an internet based
“Launch direct consumer channel aimed at reaching customers earlier in their purchase decision making
advertising for process. This will not only provide us with additional financing opportunities, but also equip TFS with a
our new city car, unique and powerful proposition. By supplying new, pre-approved customers to the Toyota and Lexus
the iQ, focuses
on affordability
dealer networks, TFS will provide a value-add that no independent financier can match.
Ichiro Kiyoshima
rather than President, Europe Africa Region
price. TFS must Markets At A Glance* Toyota Financial Services
therefore provide TFS now has almost 1,300 associates spread across 15 locations in Europe and Africa. These
strong residual
associates service a total of 1,693 Toyota and Lexus Dealers for whom TFS provides funding
value based
products enabling exceeding €1.6 billion. In total our outstanding customer portfolio numbers exceed 945,000 live
customers to use accounts representing a value of over €10 billion
an iQ for a fixed * Note — all information is as of March 31, 2010
100%
Toyota Financial Services Corporation (TFSC)
Americas Region
George E. Borst
TMCC President & CEO Toyota Finance Corporation
Yasuhisa Fujita
Europe & Africa Region President & CEO
Ichiro Kiyoshima
TFSUK Director Toyota Asset management
Takuji Ikuta
Asia & pacific Region & china President & CEO
Eiji Hirano
TFSC Director
Financial and Operational Performance
It is our loyal customers, dealers and partners and their strong support for TFS that has enabled us to grow beyond
our expectations. In just ten-year period, we’ve seen continuous growth numbers of our customers, and in spite of
unfavorable circumstances after the US sub-prime shock followed by the Lehman Brothers shock in 2008, we now
take steady profitability back and keep size of our asset. The results are shown as below.
350
324.0 326.2
15.8
300 295.9
15.0 2.0
15 275.9 2.0
14.1
12.9 8.1 1.7
7.9 250 244.6
1.4
11.4 7.5
6.8
200
10 6.0 1.0
162.1
150 139.7
136.4 133.6 122.8
50
0 0 0 -1.0
2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010
Sales Finance Credit Card TFS (Consolidated) TMC (Consolidated)
For a full report, including TMC’s annual report, go online to: http://www.toyota.co.jp/jp/ir/financial/index.html.
Additional financial data can be found on TFSC’s Web Site, http://www.tfsc.jp/financial/index.html (Japanese only).
TFSC’s financial data is dominated by Japanese GAAP while TMC’s financial data is dominated by U.S. GAAP.
Toyota Financial Services Corporation
Number of Associates 83
URL http://www.tfsc.jp/
Brief History 1982 Toyota Finance Australia Ltd (TFA), (Australia) established
Toyota Motor Credit Corporation (TMCC), (USA) established
1988 Toyota Finance Corporation (TFC), (Japan) established
1997 Expansion to 10 countries/regions
2000 Toyota Financial Services Corporation (TFSC) established from TMC
Expansion to 20 countries/regions
2008 Expansion to 33 countries/regions
As of October 2010
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Country/Region Company Established Shareholder Representative
Americas
USA Toyota Motor Credit Corporation (TMCC) October 1982 TFSA 100% George E. Borst (President & CEO)
Puerto Rico Toyota Credit de Puerto Rico Corporation (TCPR) January 1996 TMCC 100% Willemien Steensma (President & CEO)
Canada Toyota Credit Canada Inc. (TCCI) February 1990 TFS 100% Larry Baldesarra (President)
Brazil Banco Toyota do Brasil S.A. (BTB) January 1999 TFSA, TMIS (one share) Luiz H. Montenegro (President)
Venezuela Toyota Services de Venezuela, C.A. (TSV) October 2001 TFSA 100% Alejandro Troconis (Managing Director)
Mexico Toyota Financial Services Mexico, S.A. de C.V. (TFSMX) October 2001 TFSA, TMIS (one share) Tom Sullivan (Managing Director)
Argentina Toyota Compania Financiera de Argentina, S.A. (TCFA) November 2004 TFSA 95% TMCC 5% Eduardo Espinelli (President)
Europe/Africa
Germany Toyota Kreditbank GmbH (TKG) April 1988 TFS 100% Peter Pollhammer (Managing Director, CEO)
Andreas Bullock (Managing Director, CEO)
Christian Ruben (Managing Director, CEO)
UK Toyota Financial Services (UK) PLC (TFSUK) November 1988 TFS 100% Doug Gillies (Managing Director)
Finland Toyota Finance Finland Oy (TFF) August 1995 TFSUK 100% Antti Ollila (Managing Director)
Italy Toyota Financial Services Italy (TFSI) July 1997 Branch of TFSUK Roland Ventura (CEO)
Norway Toyota Financial Services Norway (TFSN) July 1997 Branch of TKG Jan Traaseth (CEO)
France Toyota France Financement (TFSF) December 1997 Branch of TKG Francois Martines (CEO)
Sweden Toyota Financial Services Sweden (TFSSW) March 2000 Branch of TKG Lars Hellstrom (CEO)
Poland Toyota Bank Polska S.A. (TBP) March 2000 TKG 100% Piotr Juda (President)
South Africa Toyota Financial Services South Africa (Pty) Ltd. (TFSSA) April 2000 TFSUK 33.3%, TSA 33.3%, First Rand Bank 33.3% Johan Brink (CEO)
Czech Toyota Financial Services Czech s.r.o. (TFSCZ) May 2000 TFSUK 100% Ales Kamaryt (Managing Director)
Denmark Toyota Financial Services Danmark A/S (TFSDK) March 2002 TFSUK 80.1%, Jyske Finans 19.9% Frank Pedersen (CEO)
Hungary Toyota Financial Services Hungary Rt. (TFSH) July 2002 TFSUK 51%, MKB-Euroleasing 49% Zsolt Kuhne (CEO)
Spain Toyota Financial Services Espana (TFSES) April 2003 Branch of TKG Javier Mencos (CEO)
Slovakia Toyota Financial Services Slovakia s.r.o. (TFSSK) January 2005 TFSUK 100% Ales Kamaryt (Managing Director)
Russia ZAO Toyota Bank (TBR) July 2007 TKG 99%, TLG 1% Alexander V. Koloshenko (President & CEO)
Netherlands Toyota Motor Finance (Netherlands) B.V. (TMFNL) August 1987 TFSC 100% Takahisa Iizuka (CEO)
Asia/Oceania
Australia Toyota Finance Australia Ltd. (TFA) June 1982 TFS 100% John R.Chandler (President & CEO)
New Zealand Toyota Finance New Zealand Ltd. (TFNZ) July 1989 TFS 54.5%, TFA 45.5% Brent Knight (Managing Director)
Thailand Toyota Leasing (Thailand) Co., Ltd. (TLT) October 1993 TFS 78.7%, TMC Group 1.3%, others 20% Henry Tolentino (President)
Malaysia Toyota Capital Malaysia Sdn. Bhd. (TCAPM) December 2001* TFS 70%, UMW 30% Lim Chin Teong (CEO)
Philippines Toyota Financial Services Philippines Corporation (TFSPH) August 2002 TFS 60%, Metoro Bank Group 40% Mototaka Sato (CEO)
Taiwan Hotai Finance Corporation (HFC) December 2002* HFC(TFS 33.4% Hozan Investment 66.0% Others 0.6%) Ten Ming Tien (President)
Hotai Leasing Corporation (HLC) Same as above HLC(TFS 33.4% Hozan Investment 66.0% Others 0.6%) Same as above
China Toyota Motor Finance (China) Company Limited (TMFCN) January 2005 TFS 100% Rene Laz (President)
Korea Toyota Financial Services Korea Co., Ltd. (TFSKR) February 2005 TFS 100% Chung Hyun Yoon (CEO)
Indonesia PT Toyota Astra Financial Services (TAFS) February 2006 TFSC (50%), PT Astra International Tbk (50%) Buntoro Muljono (President)
Vietnam Toyota Financial Services Company Limited (TFSVN) October 2008 TFC 100% Mark Ramsay (CEO)
Japan
Japan Toyota Finance Corporation (TFC) November 1988 TFSC 100% Yasuhisa Fujita
Toyota Asset Management Co., Ltd. (TAMCO) February 1990 TFSC50%, Aioi Nissay Dowa Insurance Co., Ltd.50% Takuji Ikuta
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Address Telephone URL
19001 South Western Avenue, Torrance, CA, USA 90501 (1)-310-468-1310 http://www.toyotafinancial.com
Parque Las Americas 1, #235 Calle Federico Costa Street, Suite 501, San Juan, Puerto Rico 00918 (1)-787-474-5800 http://www.ToyotaFinancialPR.com
80 Micro Court, Suite 200, Markham, Ontario, Canada L3R 9Z5 (1)-905-513-8200 http://www.toyotafinancialservices.ca
Av. Das Nacoes Unidas, 12.901-Torre Oeste-17th andar, Sao Paulo, Brazil SP04578-000 (55)-11-5504-2000 http://www.bancotoyota.com.br
Centro Empresarial El Rosal Piso 5. Av. Tamanaco Urb. El Rosal-Chacao Caracas, Venezuela 1060 (58)-212-955-7815 http://www.tsv.com.ve/
Paseo de Tamarindos No.400-B Piso 4 Col. Bosques de las lomas C. P.05120 Cuajimalpa de Morelos, Mexico, D. F. (52)-55-9177-3700 http://www.toyotacredito.com.mx
Avenida del Libertador 350, 1st and 2nd Floor, B1638BEP Vicente López, Provincia de Buenos Aires, Argentina (54)-11-6090-7900 http://www.toyotacfa.com.ar
Great Burgh, Burgh Heath Epsom, Surrey KT18 5UZ, United Kingdom (44)-1737-36-5400 http://www.toyota.co.uk
Korpivaarantie 1, FI-01450, VANTAA, Finland (358)-9-851-81 http://www.toyota.fi/rahoitus/index.asp
Via Umberto Saba, 11 00144 Roma, Italy (39)-06-54898-1 http://www.toyota-fs.it
Svelvikveien 59b N-3003 Drammen, Norway (47)-3220-8400 http://www.toyotafinans.no
36, Boulevard de la Republique F-92423 Vaucresson-Cedex, France (33)-1-4701-6024 http://www.toyota-financement.fr/
Madenvagen7 S-172 24 Sundbyberg, Sweden (46)-8-622-3500 http://www.toyota.se/finance/index.asp
ul. Postepu 18b, Budynek Orion, III pietro 02-676 Warszawa, Poland (48)-22-488-5000 http://www.toyotabank.pl
Stand 1, Wesco Park Old Pretoria, Sandton, Gauteng 2146, South Africa (27)-11-809-2578 http://www.toyota.co.za/financing
Bavorska 2662/1, 155 00 Praha 5-Stodulky (420)-222 998 300 http://www.toyotafinance.cz
Dynamovej 10, 2730 Herlev, Denmark (45)-44-85-03-30 http://www.toyota.dk/finance/index.asp
Keleti 4 H-2040 Budaors, Hungary (36)-23-885-050 http://www.toyota.hu/finance/nyito.asp
Avda. de Bruselas 22, 28108 Arroyo de la Vega, (Alcobendas) Madrid, Spain (34)-91-151-3400 http://www.toyota.es/finance/index.aspx
Gagarinova 7/c 821 03 Bratislava, Slovakia (421)-2-4821-3853 http://www.toyotafinance.sk
Serebryanicheskaya embankment, bld.29, floor 3, 109028 Moscow, Russia (7)-495-644-1000 http://www.toyota-bank.ru
6F, Atrium, Strawinskylaan 3105, 1077 ZX Amsterdam, The Netherlands (31)-20-502-5312
Level 9, Tower B, 207 Pacific Highway, St Leonards, NSW 2065 Australia (61)-2-9430-0000 http://finance.toyota.com.au/
The Millennium Centre Level 2, Building B, 602 Great South Road, Greenlane, Auckland, New Zealand (64)-9-525-2261 http://www.tfs.co.nz
990 Abdulrahim Place 18-19th Floor, Rama IV Road, Silom, Bangrak, Bangkok 10500 Thailand (66)-2-636-1401 http://www.tlt.co.th
Level 20, Plaza IBM, First Avenue, Bandar Utama, 47800 Petaling Jaya, Selangor Darul Ehsan, Malaysia (60)-3-7962-6000 http://www.toyotacapital.com.my
32F, GT Tower International, Ayala Avenue, corner H.V. Dela Costa St, Salcedo Village, Makati City, Philippines (63)-2-858-8500 http://www.toyotafinancial.ph
15F, NO121, Sung Chiang Road, Taipei, Taiwan ROC (886)-2-2502-4567 http://www.easypay.com.tw
Same as above Same as above http://www.easyrent.com.tw
Level 8 Unit 818, China World Tower 1, China World Trade Center No.1 Jian Guo Men Wai Avenue, Beijing 10004 P.R. China (86)-10-6505-8877 http://www.tfschina.com.cn
24F ING Tower, 679-4, Yeoksam-Dong, Gangnam-Gu, Seoul, 135-080 Korea (82)-2-2192-6000 http://www.tfskr.co.kr
Mega Plaza Building, 8th Floor, Jl. H.R. Rasuna Said Kav. C-3, Jakarta 12920 Indonesia (62)–21-5789-8999 http://www.tafinance.com
4F, Golden Tower, 6 Nguyen Thi Minh Khai Street, District 1, Ho Chi Minh City, Vietnam (84)-8-3911-0199 http://www.toyotafinancial.com.vn
Nagoya Lucent Tower 12-14F, No.6-1, Ushijima-chou, Nishi-ku, Nagoya 451-6014 (81)-52-527-7111 http://www.toyota-finance.co.jp
New Pia Takeshiba North-Tower 11F 11-1,Kaigan 1-chome, Minato-ku,Tokyo, 105-0022, Japan (81)-3-5776-4751 http://www.tamco.co.jp
As of October 2010
All Rights Reserved, Copyright © Toyota Financial Services Corporation, 10/2010