Click for more information
Toyota Motor (7203.T) said today that operating income for the first nine months of the Japanese fiscal year decreased, but operating income for the third quarter alone increased with help from a weaker Yen and higher volumes at 2.33 million vehicles, which exceeded the negative effect of soaring materials prices. Toyota’s full-year forecast remains unchanged from the previous forecast, with operating income of ¥2 trillion 400 billion.
During Q3 profit for the three months ended Dec. 31 was ¥956.7 billion (~$7.28 B). During Q3 a year ago Toyota posted a ¥784.4B profit. The effects of foreign exchange rates increased operating income by ¥1 trillion 45 billion as the weaker ¥ boosts the bottom line when profits from abroad are taken home. Cost reduction efforts decreased operating income by ¥940 billion largely due to the impact of soaring materials prices which accounts for ¥1 trillion 110 billion. Marketing efforts increased operating income by ¥300 billion.
Toyota said “we are striving to quickly evaluate alternative semiconductors and respond to design changes in order to secure stable procurement of semiconductors. We are also seeking to shorten the lead time by visualizing the process from order to delivery for each vehicle. We are absorbing the burden on our suppliers caused by the soaring materials and energy prices in order that activities to strengthen competitiveness are installed widely and deeply across the entire supply chain.”
During the first nine months from April to December 2022:
- Consolidated vehicle sales for the period were 6,491,000 units, which was 106.5% of consolidated vehicle sales for the same period of the previous fiscal year.
- Toyota and Lexus brand vehicle sales was at 7,210,000 units, which was 100.8% of such sales for the same period of the previous fiscal year.
Consolidated Financial Results
- Sales revenue of ¥27 trillion 464 billion.
- Operating income of ¥2 trillion 98 billion.
- Income before income taxes of ¥2 trillion 869.2 billion.
- and Quarterly net income of ¥1 trillion 899 billion.
Special Factors
- First, the effects of foreign exchange rates increased operating income by ¥1 trillion 45 billion.
- Second, cost reduction efforts decreased operating income by ¥940 billion largely due to the impact of soaring materials prices which accounts for 1 trillion 110 billion.
- Third, marketing efforts increased operating income by ¥300 billion.
- Fourth, an increase in expenses decreased operating income by ¥415 billion.
- Toyota also incurred a negative impact of ¥423.7 billion due to swap valuation losses and the cost to terminate production in Russia.
As a result, excluding the overall impact of foreign exchange rates, swap valuation gains and losses and other factors, operating income decreased by ¥1 trillion 55 billion year-on-year.
Toyota Profit for Q3 Up 22%. YTD Down
Click for more information
Toyota Motor (7203.T) said today that operating income for the first nine months of the Japanese fiscal year decreased, but operating income for the third quarter alone increased with help from a weaker Yen and higher volumes at 2.33 million vehicles, which exceeded the negative effect of soaring materials prices. Toyota’s full-year forecast remains unchanged from the previous forecast, with operating income of ¥2 trillion 400 billion.
During Q3 profit for the three months ended Dec. 31 was ¥956.7 billion (~$7.28 B). During Q3 a year ago Toyota posted a ¥784.4B profit. The effects of foreign exchange rates increased operating income by ¥1 trillion 45 billion as the weaker ¥ boosts the bottom line when profits from abroad are taken home. Cost reduction efforts decreased operating income by ¥940 billion largely due to the impact of soaring materials prices which accounts for ¥1 trillion 110 billion. Marketing efforts increased operating income by ¥300 billion.
Toyota said “we are striving to quickly evaluate alternative semiconductors and respond to design changes in order to secure stable procurement of semiconductors. We are also seeking to shorten the lead time by visualizing the process from order to delivery for each vehicle. We are absorbing the burden on our suppliers caused by the soaring materials and energy prices in order that activities to strengthen competitiveness are installed widely and deeply across the entire supply chain.”
During the first nine months from April to December 2022:
Consolidated Financial Results
Special Factors
As a result, excluding the overall impact of foreign exchange rates, swap valuation gains and losses and other factors, operating income decreased by ¥1 trillion 55 billion year-on-year.