JAPAN: Toyota posts strong Q2 and H1 net income rises

By Simon Warburton | 5 November 2012

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.
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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.

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.
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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).
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"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."

Show the press release

TOYOTA CITY, Japan (Nov. 5, 2012) ? Toyota announced strong first half fiscal year results today with sales increasing by nearly 1.4 million units, revenues up 36 percent and net income rising to $6.9 billion. The numbers represent a significant turnaround from a year ago when the company suffered production setbacks due to a major earthquake/tsunami in Japan on March 11, 2011.
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Key financial numbers from the first half (April 1, 2012 ? September 30, 2012):
--Global sales increased to 4.516 million units, up 1.49 million from the same period last year
--Consolidated revenues were 10.9 trillion yen (*$138 billion), a 36.1 percent increase in yen
--Operating income was 693.7billion yen ($8.7 billion) vs. a loss of 32 billion yen last year
--and Net income of 548.2 billion yen ($6.9 Billion) vs. 81.5 billion yen last year
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The positive first half results came on top of a strong second quarter for the automaker. Toyota reported second quarter revenues of 5.4 trillion yen (*$68.4 billion), up 18.2 percent in yen and operating income of 340 billion yen ($4.3 billion) vs. 75.4 million yen last year. Net income soared 220 percent to 257.9 billion yen ($3.2 billion)
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?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.?
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Toyotaalso revised its forecast for the fiscal year ending on March 31, 2013. The company lowered it expected consolidated vehicle sales by 50,000 units to 8.75 million due to uncertainty over the market environments in China and Europe. However, it boosted operating income by 50 billion yen to 1.050 trillion yen because of expected progress in its profit improvement activities.
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Financial forecasts for the fiscal year remain unchanged as follows:
--Consolidated revenue of 21.3 trillion yen (*$269billion)
--Operating income of billion 1.05 trillion yen ($ 13.2 billion)
--and net income of 780 billion yen ($9.8 billion)
(*all currency translations are approximate based on an 79-yen-to-the-dollar exchange rate)

Original source: http://pressroom.toyota.com/releases/toyota+second+quarter+first+half+sales+revenue+net+income+nov5.htm

Source: http://www.just-auto.com/news/toyota-posts-strong-q2-and-h1-net-income-rises_id128580.aspx?utm_source=article-feed&utm_medium=rss-feed&utm_campaign=rss-feed

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