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November 5, 2015

JAPAN: Toyota posts record H1 net income

Toyota has posted fiscal first half (six months ended September 30) net income up 11.6% to a record 1.2581 trillion in results boosted by the weak yen.

Toyota has posted fiscal first half (six months ended September 30) net income up 11.6% to a record 1.2581 trillion in results boosted by the weak yen. Operating income increased 17.1% to 1.5834 trillion yen.

On a consolidated basis, net revenues increased 8.9% to 14.09 trillion yen from 12.95 trillion yen a year ago.

Consolidated vehicle sales totalled 4,278,007 units, a decrease of 198,515 units compared to the same period last fiscal year.

TMC Managing Officer Tetsuya Otake said: "Despite decreased vehicle sales and increased expenses to promote the Toyota New Global Architecture and research into cutting-edge technologies, progress in cost reduction and other profit improvement activities, in addition to favorable foreign exchange rates, contributed to the increase in operating income."

Sales were up in the North America but down in many other regions and Toyota cuts its sales forecast for the fiscal year ended March 31, 2016 from 8.95m units to 8.75m units. 

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