Toyota Motor – the world’s largest automaker – posted impressive operating results for the 2024 Japanese fiscal year (¥5 Trillion 352.9B) with an operating profit margin of ~11% up from ~7% a year ago. This appear to be the largest profit ever posted by a Japanese company. Consolidated vehicle sales were 9,443,000, which was 107.0% of FY 2023 volume. (AutoInformed: New Toyota Motor President Koji Sato on Evolution; Toyota Cleans Daihatsu House Over False Tests)
“We faced many challenges, including those posed by COVID-19 and production restrictions due to tight semiconductor supplies, but the results showed the efforts of each front-line employee, including those of our suppliers and dealers, each recognized what they needed to do and acted accordingly, and a management structure and profit structure that was built to be resilient to crises,” said Koji Sato, president. Continue reading
Honda Post Record Operating Profit of $7B in FY 24
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Honda said this morning in Japan that it reached an operating profit in FY24 that was an historical high of $7 billion (¥1 trillion 381.9 billion) Honda is Japan’s second largest automaker. Sales increased $131,000,000 during the fiscal year. Sales revenue, profit before income taxes and profit for the year attributable to owners of the parent all reached record highs.
“In FY25, we will steadily proceed with dedicating resources towards electrification and aim to achieve operating profit of ¥1 trillion 420 billion and an operating profit margin of 7%, which is one year ahead of our original target,” said Toshiro Mibe, Director, President and Executive officer. He was the first Honda chief executive in history to attend the annual results conference. Normally, the finance staff conducts it with regional operating officers. Continue reading →