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Toyota City, Japan, Feb 6, 2020 - (JCN Newswire) - Toyota Motor Corporation (TMC) today announces its financial results for the nine-month period ended December 31, 2019.
Consolidated vehicle sales totaled 6,830,129 units, an increase of 129,227 units compared to the same period last fiscal year. On a consolidated basis, net revenues for the period totaled 22.8301 trillion yen, an increase of 1.6 percent. Operating income increased from 1.9379 trillion yen to 2.0587 trillion yen, while income before income taxes(1) was 2.5157 trillion yen. Net income(2) increased from 1.4233 trillion yen to 2.0130 trillion yen.
Operating income increased by 120.8 billion yen. Major factors contributing to the increase included an increase of 160.0 billion yen in marketing efforts and an increase of 110.0 billion yen in cost reduction efforts, partially offset by a decrease in currency fluctuations of 250.0 billion yen.
Commenting on the result, TMC Operating Officer Masayoshi Shirayanagi said: "Excluding the overall impact of foreign exchange rates and swap valuation gains and losses, operating income improved by 220 billion yen year on year."
In Japan, vehicle sales totaled 1,656,369 units, an increase of 60,905 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 11.6 billion yen to 1.2325 trillion yen.
In North America, vehicle sales totaled 2,113,521 units, an increase of 22,263 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 164.8 billion yen to 328.5 billion yen.
In Europe, vehicle sales totaled 769,929 units, an increase of 45,129 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 22.7 billion yen to 109.7 billion yen.
In Asia, vehicle sales totaled 1,234,760 units, a decrease of 40,098 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 65.9 billion yen to 329.1 billion yen.
In other regions (including Central and South America, Oceania, Africa, and the Middle East), vehicle sales totaled 1,055,550 units, an increase of 41,028 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 11.0 billion yen to 73.3 billion yen.
Financial services operating income increased by 62.8 billion yen to 300.5 billion yen, including a loss of 7.4 billion yen in valuation gains/losses from interest rate swaps. Excluding valuation gains/losses, operating income increased by 44.1 billion yen to 307.9 billion yen.
For the fiscal year ending March 31, 2020, TMC has not revised its consolidated vehicle sales forecast from 8.95 million units, in consideration of the latest sales trends worldwide.
TMC revised the consolidated financial forecasts for the fiscal year ending March 31, 2020. Based on an exchange rate assumption of 108 yen to the U.S. dollar and 121 yen to the euro, TMC now forecasts consolidated net revenue of 29.5 trillion yen, operating income of 2.50 trillion yen, income before income taxes of 2.91 trillion yen, and net income of 2.35 trillion yen.
(1) Income before income taxes and equity in earnings of affiliated companies
(2) Net income attributable to Toyota Motor Corporation
Topic: Press release summary
Source: Toyota Motor Corporation
Sectors: Automotive
http://www.acnnewswire.com
From the Asia Corporate News Network
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