Toyota City, Japan, May 10, 2017 - (JCN Newswire) - Toyota Motor Corporation (TMC) today announced its financial results for the fiscal year ended March 31, 2017.
Consolidated vehicle sales totaled 8,970,860 units, an increase of 289,532 units compared to the previous fiscal year. On a consolidated basis, net revenues for the period totaled 27.5971 trillion yen, a decrease of 2.8 percent. Operating income decreased from 2.8539 trillion yen to 1.9943 trillion yen, while income before income taxes1 was 2.1938 trillion yen. Net income2 decreased from 2.3126 trillion yen to 1.8311 trillion yen.
Operating income decreased by 859.5 billion yen. Major factors affecting to the decrease included currency fluctuations of 940 billion yen and an increase in expenses of 530 billion yen.
Commenting on the operating income, TMC executive vice president Osamu Nagata said: "Excluding the overall impact of foreign exchange rates and swap valuation gains and losses, operating income improved by 120 billion yen year on year, as a result of profit improvement activities throughout the year."
In Japan, vehicle sales totaled 2,273,962 units, an increase of 214,869 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 470.7 billion yen to 1.206 trillion yen.
In North America, vehicle sales totaled 2,837,334 units, a decrease of 1,895 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 174.7 billion yen to 330.9 billion yen.
In Europe, vehicle sales totaled 924,560 units, an increase of 80,148 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 87.6 billion yen to a loss of 11.8 billion yen.
In Asia, vehicle sales totaled 1,587,822 units, an increase of 242,986 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 30.5 billion yen to 424.4 billion yen.
In other regions (including Central and South America, Oceania, Africa and the Middle East), vehicle sales totaled 1,347,182 units, a decrease of 246,576 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 39.9 billion yen to 63.4 billion yen.
Financial services operating income decreased by 116.7 billion yen to 222.4 billion yen, including a loss of 18 billion yen in valuation gains/losses from interest rate swaps. Excluding valuation gains/losses, operating income decreased by 78.6 billion yen to 240.4 billion yen.
For the fiscal year ending March 31, 2018, TMC estimates that consolidated vehicles sales will be 8.9 million units.
In addition, TMC forecasts consolidated net revenue of 27.5 trillion yen, operating income of 1.6 trillion yen and net income of 1.5 trillion yen for the fiscal year ending March 31, 2018, based on an exchange rate of 105 yen to the U.S. dollar and 115 yen to the euro.
Today, TMC's board of directors resolved to pay 110 yen per share as the year-end dividend on common shares. The annual dividend on common shares for the fiscal year will be 210 yen per share including the interim dividend of 100 yen per share. Also today, TMC's board of directors resolved to buy back up to 250 billion yen or 50 million shares of the company's common stock.
(1) Income before income taxes and equity in earnings of affiliated companies
(2) Net income attributable to Toyota Motor Corporation
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Topic: Press release summary
Source: Toyota Motor Corporation
Sectors: Automotive
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