Sustained Innovation and Creativity - Toyota Industries Corporation

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Focus onBusiness4ElectronicsLow-Temperature Polysilicon TFT-LCD PanelsST Liquid Crystal Display Corp. (STLCD) was established as ajoint venture with Sony Corporation (Sony). Holding a 50%stake in this company, Toyota Industries accounts for STLCD asan affi liate by the equity method.As a core operation within the Electronics Business, STLCDmanufactures small and medium-sized low-temperaturepolysilicon (poly-Si) TFT-LCD panels primarily for suchapplications as video and digital still cameras and mobilephones. These TFT-LCD panels are noted for such basicfeatures as high resolution and low energy consumption.In addition, Sony is actively promoting its system-on-glasstechnology that integrates the display device and its drivercircuits onto a single glass substrate (panel), enablinghighly reliable, lightweight and miniaturized displaymodules. Accordingly, these TFT-LCD panels integrate Sony’scutting-edge technological prowess.By combining Sony’s excellent LCD developmentcapabilities with Toyota Industries’ outstanding expertise inquality control and manufacturing technology, STLCD has builtan optimal production system for manufacturing high-quality,high-performance LCD panels. Since inaugurating massproduction in 1999, STLCD has earned a high level oftrust from an extensive range of customers for its productquality, cost competitiveness and reliable, on-time delivery.STLCD presently operates with a monthly productioncapacity of 40,000 panels (600 x 720 mm) and is establishinga structure capable of providing stable supplies of displaysfor mobile devices that quickly meet customer needs.On a different front, Sony acquired the LCD panelmanufacturing business of International Display TechnologyCo., Ltd. and subsequently established ST Mobile DisplayCorporation (STMD) in March 2005 to manufacturelow-temperature poly-Si TFT-LCD panels for mobile devicesin anticipation of expanded market demand. STMDcommenced mass production in April 2006. Sony will positionSTMD alongside STLCD as a crucial manufacturing base forlow-temperature poly-Si TFT-LCD panels for mobile devices.Toyota Industries made a 20% capital investment in STMD.ST Liquid Crystal Display Corp.ST Mobile Display CorporationSTLCDLow-temperature polysilicon TFT-LCDs36 Toyota Industries Corporation Annual Report 2006
Semiconductor Package SubstratesToyota Industries entered the semiconductor packagesubstrates business in 1998 when it established TIBCCorporation (TIBC), a joint venture with Ibiden Co., Ltd. (Ibiden).Semiconductor package substrates are indispensablecomponents of PCs, digital still and video cameras, mobilephones, home video game consoles, IC cards and memorycards. Adopting technologies introduced from Ibiden, TIBChas steadily expanded its product lineup from its initialmanufacturing of fl exible printed circuit (FPC) substrates for ICcards to wire bonding (WB) package substrates and fl ip chip(FC) package substrates.TIBC’s semiconductor package substrates are soldthrough Ibiden to the world’s premier semiconductormanufacturers and semiconductor-packaging companiesfor such applications as PCs and mobile phones. TIBC’s FPCsubstrates are also marketed through Ibiden to SIM cardand smart card suppliers mainly in Europe and China forintegration into credit cards and telephone cards.Amid high demand for applications in PCs andmobile phones during fi scal 2006, TIBC recorded a strongperformance primarily as a result of a switch to highvalue-added products.TIBC CorporationSemiconductor Package Substrate Trend and TIBC’s Production Engineering DevelopmentSubstrate trendIC signal pinsWB: Wire bonding (package)FC: Flip chipFPC: Flexible printed circuitLSI wirebondingFlip chipbondingWB substratesFPC substrates for IC cardsFC substratesFlip-chippedSuper fineMulti-layeredFineSuper thin-filmedDouble-sidedFC package substrateMain applications:CPU for PCs, PC graphics,chipsets for PCsWB package substrateMain applications:Memory for portabledevices, chipsets for PCsTIBC product line1980 1990 2000 2005 2010Sep. 1997Sep. 1998TIBC foundedApr. 1999FPC package substratesWB package substratesOct. 2002FC package substratesFPC package substrateMain applications:Contact IC cardsTIBCWire bonding (WB)package substrateFlip chip (FC) packagesubstrateFlexible printed circuit(FPC) package substrateToyota Industries Corporation Annual Report 200637
Page 1 and 2: ANNUAL REPORTYear ended March 31, 2
Page 3 and 4: Contents24614Consolidated Financial
Page 5 and 6: Net SalesOperating IncomeNet Income
Page 7 and 8: Tadashi IshikawaChairmanTetsuro Toy
Page 9 and 10: Record-Breaking Results for Fiscal
Page 11 and 12: Further Deploying Our Engine Busine
Page 13 and 14: examples, each division undertakes
Page 15 and 16: progress in globalizing its busines
Page 17 and 18: Logistics SegmentTextile Ma chin er
Page 19 and 20: Toyota Material Handling Group—Ma
Page 21 and 22: Business Activities in Fiscal 2006J
Page 23 and 24: Looking AheadJapanese MarketThe yea
Page 25 and 26: Products for the Japanese MarketPro
Page 27 and 28: Products for the European MarketPle
Page 29 and 30: Breakthrough Innovations and Cuttin
Page 31 and 32: variable-displacementcompressors, w
Page 33 and 34: Vehicle BusinessAdvantages as a Com
Page 35 and 36: Project. This project involves the
Page 37: Car ElectronicsToyota Industries’
Page 41 and 42: Creating Logistics Solutions by Ado
Page 43 and 44: Focus onBusiness6Textile Ma chin er
Page 45 and 46: ExploringToyota IndustriesToyota In
Page 47 and 48: of the Toyota Material Handling Gro
Page 49 and 50: New Products Developed and Launched
Page 51 and 52: Corporate Governance Structure of T
Page 53 and 54: Environmental and Social Contributi
Page 55 and 56: Social Contribution ActivitiesToyot
Page 57 and 58: 1990s - 2000s -1990Sprinter Carib (
Page 59 and 60: Directors, Corporate Auditors and M
Page 61 and 62: Company NameLocationCapital(thousan
Page 63 and 64: Fi nan cial Sec tion626474767778799
Page 65 and 66: Millions of yen2002 2001 2000 1999
Page 67 and 68: Operating Income andOperating Incom
Page 69 and 70: Net Sales ofTextile MachinerySegmen
Page 71 and 72: Cash Flows(¥ Billion)150100500(50)
Page 73 and 74: Toyota Industries intends to use re
Page 75 and 76: Signifi cant Accounting Policies an
Page 77 and 78: LIABILITIES, MINORITY INTERESTS AND
Page 79 and 80: Consolidated Statements of Sharehol
Page 81 and 82: Notes to Consolidated Financial Sta
Page 83 and 84: (15) Hedge accounting(a) Method of
Page 85 and 86: (2) As of and for the year ended Ma
Page 87 and 88: 7. Assets pledged as collateral(1)
Page 89 and 90:
13. Derivative instruments(1) Quali
Page 91 and 92:
15. Income taxes(1) The signifi can
Page 93 and 94:
(2) Operating leases (as a lessee)P
Page 95 and 96:
2006 2005 20042006Assets:Automobile
Page 97 and 98:
2006 2005 20042006Assets:Japan ¥ 8
Page 99 and 100:
20. Net income per share (EPS)Basis
Page 101 and 102:
Toyota Industriesin NumbersToyota I
Page 103 and 104:
(Years ended March 31)Net Sales and
Page 105 and 106:
(Years ended March 31)Cash Dividend
Page 107 and 108:
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