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Toyota Motor Corporation (TMC)* said today that net income2 increased from 1.171 trillion yen ($8.7 billion)** to 2.589 trillion yen ($18.4 billion) for the Japanese FY2024 Q2 (April – September 2023) on consolidated vehicle sales of ~4,744,000, an increase of ~585,000 compared to the same period last fiscal year.
“We are grateful for the support of many stakeholders, from production to logistics, sales, and services, including suppliers. As a result of selling each car meticulously at prices that match the product appeal refined through Toyota’s ‘making ever-better cars’ initiative, operating income increased from the same period of the previous fiscal year,” Toyota said.
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For the fiscal year ending 31 March 2024, TMC now estimates consolidated vehicles sales will be 9.60 million units. Based on an exchange rate assumption of 141 yen to the U.S. dollar, TMC forecasts consolidated net revenue of 43.0 trillion yen ($305.0 billion), operating income of 4.5 trillion yen ($31.9 billion), income before income taxes of 5.55 trillion yen ($39.4 billion), and net income of 3.95 trillion yen ($28.0 billion).
Regions
North America: Vehicle sales totaled ~1,385,000 units, an increase of 140,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 299.5 billion yen ($2.1 billion) to 362.5 billion yen ($2.5 billion).
Japan: Vehicle sales totaled ~1,072,000 units, an increase of 203,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 725.1 billion yen ($5.1 billion) to 1.584 trillion yen ($11.2 billion).
Europe: Vehicle sales totaled ~557,000 units, an increase of 78,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 245.8 billion yen ($1.7 billion) to 192.2 billion yen ($1.3 billion).
Asia: Vehicle sales totaled ~895,000 units, an increase of 78,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 30.2 billion yen ($214 million) to 411.4 billion yen ($2.9 billion).
Other regions (including Central and South America, Oceania, Africa, and the Middle East): Vehicle sales totaled ~835,000 units, an increase of 86,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 55.7 billion yen ($395 million) to 186.5 billion yen ($1.3 billion).
Financial Services
Financial services operating income decreased by 8.4 billion yen ($60 million) to 328.8 billion yen ($2.3 billion). Including valuation gains/losses, operating income increased by 46.0 billion yen ($326 million) to 244.9 billion yen ($1.7 billion).
1 Income before income taxes and equity in earnings of affiliated companies
2 Net income attributable to Toyota Motor Corporation
* 7203 Prime of the Tokyo Stock Exchange and Premier of the Nagoya Stock Exchange
**FY24 currency translations above are approximate and based on an average 141-yen-to-dollar exchange rate. FY23 is 134-yen-to-dollar exchange rate.
Toyota Posts FY2024 Q2 Net Income of $18.4 Billion
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Toyota Motor Corporation (TMC)* said today that net income2 increased from 1.171 trillion yen ($8.7 billion)** to 2.589 trillion yen ($18.4 billion) for the Japanese FY2024 Q2 (April – September 2023) on consolidated vehicle sales of ~4,744,000, an increase of ~585,000 compared to the same period last fiscal year.
“We are grateful for the support of many stakeholders, from production to logistics, sales, and services, including suppliers. As a result of selling each car meticulously at prices that match the product appeal refined through Toyota’s ‘making ever-better cars’ initiative, operating income increased from the same period of the previous fiscal year,” Toyota said.
Click for more.
For the fiscal year ending 31 March 2024, TMC now estimates consolidated vehicles sales will be 9.60 million units. Based on an exchange rate assumption of 141 yen to the U.S. dollar, TMC forecasts consolidated net revenue of 43.0 trillion yen ($305.0 billion), operating income of 4.5 trillion yen ($31.9 billion), income before income taxes of 5.55 trillion yen ($39.4 billion), and net income of 3.95 trillion yen ($28.0 billion).
Regions
North America: Vehicle sales totaled ~1,385,000 units, an increase of 140,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 299.5 billion yen ($2.1 billion) to 362.5 billion yen ($2.5 billion).
Japan: Vehicle sales totaled ~1,072,000 units, an increase of 203,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 725.1 billion yen ($5.1 billion) to 1.584 trillion yen ($11.2 billion).
Europe: Vehicle sales totaled ~557,000 units, an increase of 78,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 245.8 billion yen ($1.7 billion) to 192.2 billion yen ($1.3 billion).
Asia: Vehicle sales totaled ~895,000 units, an increase of 78,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 30.2 billion yen ($214 million) to 411.4 billion yen ($2.9 billion).
Other regions (including Central and South America, Oceania, Africa, and the Middle East): Vehicle sales totaled ~835,000 units, an increase of 86,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 55.7 billion yen ($395 million) to 186.5 billion yen ($1.3 billion).
Financial Services
Financial services operating income decreased by 8.4 billion yen ($60 million) to 328.8 billion yen ($2.3 billion). Including valuation gains/losses, operating income increased by 46.0 billion yen ($326 million) to 244.9 billion yen ($1.7 billion).
1 Income before income taxes and equity in earnings of affiliated companies
2 Net income attributable to Toyota Motor Corporation
* 7203 Prime of the Tokyo Stock Exchange and Premier of the Nagoya Stock Exchange
**FY24 currency translations above are approximate and based on an average 141-yen-to-dollar exchange rate. FY23 is 134-yen-to-dollar exchange rate.