Toyota Motor Corporation (TMC) has posted increased and record revenue and profits for the fiscal year ended 31 March 2007.

On a consolidated basis, net revenues rose 13.8% to 23.94 trillion yen while operating income was up 19.2% to 2.23 trillion yen, and income before income taxes, minority interest and equity in earnings of affiliated companies increased 14.1% to 2.38 trillion yen.

Net income increased 19.8% to 1.64 trillion yen.

Positive contributions to operating income totaled 720.0bn yen, consisting of 330.0bn yen from marketing efforts, 290.0bn yen from the positive effects of changes in foreign exchange rates and 100.0bn yen from cost reduction efforts. Negative factors totaled 359.7bn yen.

TMC president Katsuaki Watanabe said: “For fiscal year 2007, Toyota posted record consolidated results across the board. We believe our continuous efforts to support global growth have steadily contributed to our record net revenues, operating income and net income.”

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TMC also announced a second-half cash dividend of 70 yen, an increase of 15 yen per share over the same period last fiscal year. Total dividend payout for the full year was 120 yen per share, an increase of 30 yen year-on-year. TMC has increased its annual dividend eight consecutive times.

Watanabe added: “As a result, our dividend payout ratio will improve from 21.3% to 23.4%, marking steady progress toward our 30% target”.

In fiscal year 2007, Toyota’s consolidated vehicle sales for the period reached 8.52m units, an increase of 550,000 units compared to the last fiscal year.

However, in Japan, vehicle sales decreased by 91,000 units over the same period last year, to 2.27m units. While sales of some existing models declined, sales of the redesigned Corolla and new models such as the Auris, Blade and Lexus LS were favourable. Toyota’s market share excluding mini-vehicles grew by 1.5% compared to the same period last year, to 45.8%.

Operating income from Japanese operations increased by 381.3bn yen over the same period last year, to 1.45 trillion yen, mainly due to an increase in production volume.

In North America, vehicle sales reached 2.94m units, an increase of 386,000 units, due to strong sales of models redesigned last year such as the RAV4 and Camry and the new FJ Cruiser and Yaris models.

But operating income decreased by 46.0bn yen, to 449.6bn yen due mainly to “temporary expenses” such as costs associated with the start up of the Texas truck plant, as well as the recording of valuation losses on interest rate swaps.

In Europe, led by strong sales of compact models such as the Yaris and Aygo, vehicle sales increased by 201,000 units, to 1.22m units.

Operating income from European operations increased by 43.4bn yen, to 137.3bn yen. The increase was due mainly to strong sales of core models.

In Asia, sales decreased by 91,000 units, to 789,000 units, as a result of weak market conditions mainly in Indonesia and Taiwan.

Operating income from Asian operations decreased by 27.9bn yen, to 117.6bn yen.

In other regions, including Central and South America, Oceania and Africa, vehicle sales increased to 1.29m units, an increase of 145,000 units, due to continuing popularity of the IMV series in Central and South America and the Camry in Oceania.

Operating income in these regions increased by 16.3bn yen, to 83.5bn yen.

TMC estimated that consolidated vehicle sales for the current fiscal year ending 31 March 2008 will be 8.89m units.

Based on an exchange rate of 115 yen to the US dollar and 150 yen to the euro, the automaker forecast consolidated net revenues of 25.00 trillion yen, operating income of 2.25 trillion yen and net income of 1.65 trillion yen.

Watanabe said: “We aim to exceed last year’s earnings by increasing sales volume and reducing cost, while investing for future growth.”