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Toyota Reports 9% Gain in Operating Profits
Toyota Motor Corp.’s April-June operating profit climbed to a four-year high, but the company lowered its full-year outlook 6% on expectations of a stronger yen.
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Toyota Motor Corp.’s April-June operating profit climbed to a four-year high, but the company lowered its full-year outlook 6% on expectations of a stronger yen.
Toyota’s fiscal-first-quarter operating profit grew 9% to 742 billion yen ($7 billion). Net income rose 4% to 683 billion yen ($6.4 billion).
Toyota reports 4% gains in unit sales (to 2.71 million cars and truck) and revenue (to 7.6 trillion yen/$72 billion) for the period.
Sales volumes rose in Japan (+9% to 555,300 units), Europe (+8% to 274,000) and Asia (+1% to 398,200). Sales in North America slipped by fewer than 3,000 units to 743,600 vehicles. Overall volume was flat in the rest of the world.
Toyota predicts a full-year operating profit of 2.4 trillion yen ($22.5 billion) and revenue of 295 trillion yen ($277 billion). The company anticipated global sales for the fiscal year ending March 31 to 9.00 million vehicles.
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