Toyota Motor Corporation ended the fiscal year to 31 March, 2012 with revenue and profits down compared with fiscal 2010/11, but forecast a substantial rise for the current fiscal year.
Operating income decreased from JPY468.2bn to JPY355.6bn while net income fell from JPY408.1bn to JPY 283.5bn.
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Revenues for the fiscal year fell 2.2% to JPY18,583.6bn.
Toyota said the JPY112.6bn fall in operating income was due to factors such as the negative effects from currency fluctuations (JPY250.0bn) offset by “positive effects from marketing activities” (JPY150bn).
Vehicle sales rose 44,000 units to 7,352,000 worldwide.
TMC president Akio Toyoda said in a statement: “Our vision is to establish a strong business foundation that will ensure profitability under any kind of difficult business environment.
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By GlobalData“Certainly the last fiscal year was extremely challenging due to the natural disasters in Japan and Thailand, plus the unprecedented strength of the yen.
“But, thanks to the concerted efforts of our employees, suppliers, and dealers, we were able to recover production and sales faster than anticipated and achieved a strong result. I would like to express my heartfelt gratitude for their efforts to improve our business structure. Thanks to their hard work, we were able to remain profitable, even in such a challenging environment. And special thanks, of course, go to our customers, who continue to demonstrate their loyalty in choosing Toyota and Lexus vehicles.”
Sales in Japan rose 158,000 to 2.1m cars. The operating loss from domestic market operations fell JPY155.3bn to JPY207.0bn in the red.
North American sales fell 159,000 to 1.87m units and operating income was off JPY153bn to JPY186.4bn, including special items of JPY26.2bn.
In Europe, vehicle sales slipped 2,000 to 798,000 units but operating income rose JPY4.6bn to JPY17.7bn.
Asian sales reached 1.33m units, up 72,000, as operating income fell JPY56.2bn to JPY256.7bn.
In Central and South America, Oceania and Africa, sales fell 29,000 to 1.28m while operating income fell JPY51.3bn to JPY108.8bn.
Financial services operating income fell JPY51.8bn to JPY306.4bn including JPY16.5bn in special items.
TMC forecast vehicle sales for the fiscal year ending 31 March, 2013 would rise 1.35m units to 8.7m “due to increased sales volume in all regions”.
Revenue was forecast at JPY22,000bn, operating income at JPY1,000bn and net income at JPY760bn, based on an exchange rate of JPY80 to the US dollar and JPY105 to the euro.
TMC said it would pay a year-end dividend of JPY30 per share, subject to approvals at the general shareholders meeting in June.
