“Certainly the last fiscal year was extremely challenging due to the natural disasters in Japan and Thailand, plus the unprecedented strength of the yen.”
Toyota Motor posted results for Fiscal Year 2012 ending 31 March that saw its net profit decline to ¥283.56 billion or $3.6 billion, a 31% decrease. A strong recovery in sales and earnings in the second half of the fiscal year was not enough to offset a poor first half, which was hurt by natural disasters in Japan and Thailand, which disrupted production.
Toyota finished the year with 7.35 million in vehicle sales. This means Toyota is now the Number Three global automaker behind General Motors and Volkswagen Group, which sold more than 9 million and 8 million vehicles respectively. Toyota assumed the Number One spot in 2008 and held it until last year.
TMC net revenues for the fiscal year were ¥18,583.6 billion, a decrease of 2.2% compared to the same period last fiscal year. Operating income decreased from ¥468.2 billion to ¥355.6 billion, while income before income taxes was ¥432.8 billion. Net income, as mentioned decreased from ¥408.1billion to ¥283.5 billion. Operating income decreased by ¥112.6 billion.
“Certainly the last fiscal year was extremely challenging due to the natural disasters in Japan and Thailand, plus the unprecedented strength of the yen,” said TMC President Akio Toyoda.
Nevertheless, Toyota predicted a strong recovery for Fiscal Year 2013, with vehicle sales of 8.7 million – up 1.35 million – due to increased sales volume in all regions. TMC also forecasts consolidated net revenue of ¥22,000.0 billion, operating income of ¥1 trillion and net income of ¥760.0 billion for the fiscal year, based on an exchange rate of ¥80 to the U.S. dollar and ¥105 to the Euro. TMC announced a year-end dividend of ¥30 per share, to be proposed at the general shareholders meeting in June.
Toyota Motor sold 8.42 million vehicles in 2010.
In Japan, vehicle sales totaled 2 million units, an increase of 158,000 compared to the same period last fiscal year. The operating loss from Japanese operations decreased by ¥155.3 billion to a loss of ¥207.0 billion.
In North America, vehicle sales totaled 1.9 million cars and light trucks, a decrease of 159,000 compared to the same period last fiscal year. Operating income decreased by ¥153 billion to ¥186.4 billion, including ¥26.2 billion of losses on interest rate swaps. Operating income, excluding the impact of interest rate swaps, decreased by ¥151.7 billion to ¥160.2 billion.
In Europe, vehicle sales totaled 798,000, an increase of 2,000, while operating income increased by ¥4.6 billion, to ¥17.7 billion.
In Asia, vehicle sales totaled 1.32 million, an increase of 72,000, while operating income decreased by ¥56.2 billion, to ¥256.7 billion.
In Central and South America, Oceania and Africa, vehicle sales totaled 1.28 million, a decrease of 29,000, while operating income decreased by ¥51.3 billion to ¥108.8 billion.
In the financial services segment, operating income decreased by ¥51.8 billion, to ¥306.4 billion compared to the last fiscal year, including ¥16.5 billion of valuation losses on interest rate swaps. Excluding such, operating income decreased by ¥31.0 billion to ¥289.8 billion.
