TMC now forecasts full year consolidated net revenue of 29.5 trillion yen (*$268.18 billion), operating income of 2.40 trillion yen (*$21.81 billion), income before taxes of 2.72 trillion yen (*$24.72 billion), and net income of 2.30 trillion yen (*$20.90 billion).
Toyota Motor Corporation (TMC) financial results for the six-month period ended September 30, 2018 saw Consolidated vehicle sales for the six-month period ended September 30 totaled 4,418,928 units, an increase of 29,493 units compared to the same period last fiscal year.
Once again Toyota proved its operating prowess, which consistently place it in the running for the largest and mot profitable automaker in the world as it transforms itself into a mobility company to be reckoned with.
On a consolidated basis, net revenues for the period totaled 14.674 trillion yen (*$133.40 billion), an increase of 3.4 percent. Operating income increased from 1.0965 trillion yen (*$9.96 billion) to 1.2618 trillion yen (*$11.47 billion), while income before income taxes1 was 1.5488 trillion yen (*$14.08 billion). Net income2 increased from 1.0713 trillion yen (*$9.73 billion) to 1.2423 trillion yen (*$11.29 billion).
Operating income increased by 165.3 billion yen (*$1.50 billion). Major factors contributing to the increase included an increase of 150.0 billion yen (*$1.36 billion) in marketing activities and a decrease in expenses of 40.0 billion yen (*$363.63 million).
TMC Senior Managing Officer Masayoshi Shirayanagi said: “As for the cost reduction and fixed cost reduction activities, we are steadily making progress towards achieving our challenge-level target. In order to achieve this at the end of this financial year and continue strengthening our earning power, we will accelerate our activities throughout the second half of this financial year across the regions.”
Regions
- North America: Vehicle sales totaled 1,411,246 units, an increase of 15,088 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 3.9 billion yen (*$35.45 million) to 137.2 billion yen (*$1.24 billion).
- Japan: Vehicle sales totaled 1,030,938 units, a decrease of 56,416 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 109.9 billion yen (*$999.09 million) to 751.6 billion yen (*$6.83 billion).
- Europe: Vehicle sales totaled 492,594 units, an increase of 23,091 units, while operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 22.8 billion yen (*$207.27 million) to 61.8 billion yen (*$561.81 million).
- Asia: Vehicle sales totaled 811,123 units, an increase of 67,184 units, while operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 63.2 billion yen (*$574.54 million) to 276.2 billion yen (*$2.51 billion).
- Other regions (including Central and South America, Oceania, Africa, and the Middle East): Vehicle sales totaled 673,027 units, a decrease of 19,454 units, while operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 7.9 billion yen (*$71.81 million) to 63.8 billion yen (*$580.0 million).
Financial Services
Financial services operating income increased by 10.2 billion yen (*$92.72 million) to 154.9 billion yen (*$1.40 billion), including a loss of 19.1 billion yen (*$173.636 million) in valuation gains/losses from interest rate swaps. Excluding valuation gains/losses, operating income increased by 30.0 billion yen (*$272.72 million) to 174.1 billion yen (*$1.58 billion).
(*all currency translations above are approximate and based on an average 110-yen-to-dollar exchange rate).
Forecast
For the fiscal year ending March 31, 2019, TMC has not revised its consolidated vehicle sales forecast from 8.90 million units, in consideration of the latest sales trends worldwide.
TMC updated its consolidated financial forecasts for the fiscal year. Based on an exchange rate assumption of 110 yen to the U.S. dollar and 130 yen to the euro, TMC now forecasts consolidated net revenue of 29.5 trillion yen (*$268.18 billion), operating income of 2.40 trillion yen (*$21.81 billion), income before income taxes of 2.72 trillion yen (*$24.72 billion), and net income of 2.30 trillion yen (*$20.90 billion).
(*all currency translations above are approximate and based on an average 110-yen-to-dollar exchange rate).
1Income before income taxes and equity in earnings of affiliated companies
2Net income attributable to Toyota Motor Corporation
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Toyota 6 Month Financial Results – $11.29 Billion Net Income
TMC now forecasts full year consolidated net revenue of 29.5 trillion yen (*$268.18 billion), operating income of 2.40 trillion yen (*$21.81 billion), income before taxes of 2.72 trillion yen (*$24.72 billion), and net income of 2.30 trillion yen (*$20.90 billion).
Toyota Motor Corporation (TMC) financial results for the six-month period ended September 30, 2018 saw Consolidated vehicle sales for the six-month period ended September 30 totaled 4,418,928 units, an increase of 29,493 units compared to the same period last fiscal year.
Once again Toyota proved its operating prowess, which consistently place it in the running for the largest and mot profitable automaker in the world as it transforms itself into a mobility company to be reckoned with.
On a consolidated basis, net revenues for the period totaled 14.674 trillion yen (*$133.40 billion), an increase of 3.4 percent. Operating income increased from 1.0965 trillion yen (*$9.96 billion) to 1.2618 trillion yen (*$11.47 billion), while income before income taxes1 was 1.5488 trillion yen (*$14.08 billion). Net income2 increased from 1.0713 trillion yen (*$9.73 billion) to 1.2423 trillion yen (*$11.29 billion).
TMC Senior Managing Officer Masayoshi Shirayanagi said: “As for the cost reduction and fixed cost reduction activities, we are steadily making progress towards achieving our challenge-level target. In order to achieve this at the end of this financial year and continue strengthening our earning power, we will accelerate our activities throughout the second half of this financial year across the regions.”
Regions
Financial Services
Financial services operating income increased by 10.2 billion yen (*$92.72 million) to 154.9 billion yen (*$1.40 billion), including a loss of 19.1 billion yen (*$173.636 million) in valuation gains/losses from interest rate swaps. Excluding valuation gains/losses, operating income increased by 30.0 billion yen (*$272.72 million) to 174.1 billion yen (*$1.58 billion).
(*all currency translations above are approximate and based on an average 110-yen-to-dollar exchange rate).
Forecast
For the fiscal year ending March 31, 2019, TMC has not revised its consolidated vehicle sales forecast from 8.90 million units, in consideration of the latest sales trends worldwide.
TMC updated its consolidated financial forecasts for the fiscal year. Based on an exchange rate assumption of 110 yen to the U.S. dollar and 130 yen to the euro, TMC now forecasts consolidated net revenue of 29.5 trillion yen (*$268.18 billion), operating income of 2.40 trillion yen (*$21.81 billion), income before income taxes of 2.72 trillion yen (*$24.72 billion), and net income of 2.30 trillion yen (*$20.90 billion).
(*all currency translations above are approximate and based on an average 110-yen-to-dollar exchange rate).
1Income before income taxes and equity in earnings of affiliated companies
2Net income attributable to Toyota Motor Corporation
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.