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  HOME | Business & Economy (Click here for more)

Toyota Recorded Net Income of $11.65 Billion between April-September

TOKYO – Japanese automaker Toyota Motor posted a net income of 1.27 trillion yen ($11.58 billion) between April and September, 2.6 percent more than the same period last year, the company announced Thursday.

During that period – the first semester of Japan’s financial year – the country’s largest car manufacturer had a record operating income of 1.4 trillion yen, a year-on-year increase of 11.3 percent.

The company’s net revenue also rose to a record 15.2 trillion yen between April and September, an increase of 4.2 percent over the same period last year.

The Aichi-based company sold 5.45 million vehicles in the first half of the Japanese financial year, a 3-percent year-on-year increase.

Operating profit in the second quarter more than doubled for North America and increased 10 percent for Japan from a year earlier, backed by greater vehicle sales in both regions, it said.

Toyota also released its forecast for the entire year – ending on March 31, 2020 – which remains unchanged from its full-year forecast estimates in the first quarter.

The Japanese giant expects an annual net income of 2.15 trillion yen, a jump of 14.2 percent over the last fiscal year.

Its operating income will likely decline 2.7 percent to 2.4 trillion yen while its net revenue is forecast to fall 2.4 percent to 29.5 trillion, according to the company’s estimates.

 

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