Toyota President Akio Toyoda

Toyota’s sales increase despite low car orders and cheap yen, midterm achievement result

Toyota Motor Corporation presented their consolidated financial report for the second quarter (April to September) on November 11, 2015.

According to the results, Toyota’s sales for the second quarter was 14.0915 trillion yen (up 8.9% year-on-year); the operating profit was 1.5834 trillion yen (up 11%); and the net income was 1.2581 trillion yen (up 11.6%).

On the same period of the second quarter last year, Toyota’s consolidated automobile sales in Japan and overseas was 4,378,000 units (-4.4%). Toyota’s sales in Japan at that time was 984,000 units (-4.4%), and 3,294,000 units (-4.4%) for overseas as well.

Regarding the main cause of the fluctuation of Toyota’s operating profit, the reason why the profit has increased was the influence of the currency exchange fluctuation of 305 billion yen. The achievement through the cost improvement effort was 140 billion yen. Others amounted to 16.4 billion yen. On the other hand, the reason for its decrease was the increase of sundry expenses amounting to 170 billion yen, and the influence in sales amounting to 60 billion yen.

As for Toyota’s forecast on consolidated operating results, they made downward revisions for the estimated unit sales to 8.75 million units (lower by 20,000 units compared to the forecast in previous term), and the estimated sales to 27 trillion & 5,000 yen (lower by 300 billion yen compared to the forecast in previous term). The profit for each item remains the same with the forecast from the previous term.

(Translated by Claire Marie Sausora)