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Toyota City, Japan, Feb 6, 2018 - (JCN Newswire) - Toyota Motor Corporation (TMC) today announces its financial results for the nine-month period ended December 31, 2017.
Consolidated vehicle sales totaled 6,678,279 units, an increase of 34,893 units compared to the same period last fiscal year. On a consolidated basis, net revenues for the period totaled 21.7969 trillion yen, an increase of 8.1 percent. Operating income increased from 1.5554 trillion yen to 1.7701 trillion yen, while income before income taxes(1) was 2.0031 trillion yen. Net income(2) increased from 1.4327 trillion yen to 2.0131 trillion yen.
Operating income increased by 214.7 billion yen. Major factors affecting to the increase included currency fluctuations of 295 billion yen and an increase in cost reduction efforts of 135 billion yen.
In Japan, vehicle sales totaled 1,639,540 units, an increase of 26,811 units, while operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 415.9 billion yen to 1.1128 trillion yen.
In North America, vehicle sales totaled 2,131,194 units, a decrease of 13,822 units, while operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 229.9 billion yen to 168.1 billion yen.
In Europe, vehicle sales totaled 705,892 units, an increase of 38,514 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 6.9 billion yen to 62.5 billion yen.
In Asia, vehicle sales totaled 1,148,177 units, a decrease of 44,634 units, while operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 2.9 billion yen to 335 billion yen.
In other regions (including Central and South America, Oceania, Africa, and the Middle East), vehicle sales totaled 1,053,476 units, an increase of 28,024 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 25.6 billion yen to 105.9 billion yen.
Financial services operating income increased by 32.4 billion yen to 227.3 billion yen, including a gain of 6.6 billion yen in valuation gains/losses from interest rate swaps. Excluding valuation gains/losses, operating income increased by 9.8 billion yen to 220.6 billion yen.
For the fiscal year ending March 31, 2018, TMC has not revised its consolidated vehicle sales forecast from 8.95 million units, in consideration of the latest sales trends worldwide.
TMC revised its consolidated financial forecasts for the fiscal year ending March 31, 2018. Based on an exchange rate assumption of 111 yen to the U.S. dollar and 129 yen to the euro, TMC now forecasts consolidated net revenue of 29 trillion yen, operating income of 2.2 trillion yen, income before income taxes of 2.45 trillion yen, and net income of 2.4 trillion yen.
Commenting on the operating income forecasts for the fiscal year, TMC Senior Managing Officer Masayoshi Shirayanagi said: "The latest operating income forecast is up 200 billion yen from the previous forecast at the second quarter reporting. Excluding the overall impact of foreign exchange rates and swap valuation gains and losses, it is now up 130 billion yen. This reflects additional contribution anticipated from profit improvement activities such as cost reduction, marketing efforts, and reduction of expenses."
(1) Income before income taxes and equity in earnings of affiliated companies
(2) Net income attributable to Toyota Motor Corporation
Contact:
Public Affairs Division
Global Communications Department
Toyota Motor Corporation
Tel: +81-3-3817-9926
Topic: Press release summary
Source: Toyota Motor Corporation
Sectors: Automotive
https://www.acnnewswire.com
From the Asia Corporate News Network
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