Toyota has posted first half fiscal year results from April to September with net income rising to JPY548.2bn (US$6.9bn), sales up by nearly 1.5m units and revenue soaring 36%.
The numbers represent a turnaround from a year ago when the company suffered production setbacks due to the major earthquake and tsunami that struck Japan on 11 March, 2011.
Global sales increased to 4.516m units, up 1.49m from the same period last year, while consolidated revenues were JPY10.9 trillion ($138bn), a 36.1% increase.
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Operating income was JPY693.7bn ($8.7bn) versus a loss of JPY32bn last year, while net income was JPY548.2bn ($6.9bn) compared to JPY81.5bn.
The positive first half results came on top of a strong second quarter for the automaker. Toyota reported second quarter revenues of JPY5.4 trillion ($68.4bn), up 18.2%, and operating income of JPY340bn ($4.3bn). Net income rose 220% to JPY257.9bn ($3.2bn).
“In all regions, vehicle sales increased significantly for both the first half and second quarter of this fiscal year because we suffered from the supply disruption due to the Great East Japan Earthquake in the same period last year,” said TMC senior managing officer Takahiko Ijichi.
“Despite the yen’s appreciation, operating income improved significantly due to the recovery of sales which dropped in the first half of last year and our company-wide profit improvement activities.”
