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  HOME | Business & Economy (Click here for more)

Toyota’s Net Income between April-December Falls 29.3% to $12.69 Billion

TOKYO – Japanese vehicle manufacturer Toyota Motor had net income of 1.42 trillion yen ($12.69 billion) between April and December, a plunge of 29.3 percent year-on-year.

During the first nine months of the current fiscal year, Toyota’s operating income increased 9.5 percent to stand at 1.9 trillion yen, said the firm, which has its headquarters in Aichi (central Japan) in a statement.

Toyota added that “on a consolidated basis, net revenues for the period totaled 22.4755 trillion yen, an increase of 3.1 percent” from the year before.

Between April and December, Toyota recorded a dip in its major markets with vehicle sales recorded at 1,595,464 units, “a decrease of 44,076 units” in Japan as “operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 131.3 billion yen to 1.2442 trillion yen.”

However, vehicle sales were recorded at 724,800 units in Europe, an increase of 18,908, while Asia, recorded sales of 1,274,858 units, marking an increase of 126,681.

“In other regions (including Central and South America, Oceania, Africa, and the Middle East), vehicle sales totaled 1,014,522 units, a decrease of 38,954 units,” Toyota said.

With these results, before the end of the last quarter of the Japanese financial year, which ends in March, Toyota “revised its consolidated financial forecasts.”

“Based on an exchange rate assumption of 110 yen to the U.S. dollar and 128 yen to the euro, TMC now forecasts consolidated net revenue of 29.5 trillion yen, operating income of 2.40 trillion yen, income before income taxes of 2.20 trillion yen, and net income of 1.87 trillion yen,” the statement said.

The revision of the consolidated income forecasts, which has not affected its operating income and sales turnover, is largely due to the estimation of Toyota’s exchange rates, which is based on a stronger yen against the dollar and euro.

The firm said in a statement that had increased “its consolidated vehicle sales forecast from 8.9 million units to 8.95 million units, in consideration of the latest sales trends worldwide.”

 

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