Toyota earned $9.3 billion in net income in the financial year that ends next month. The number beats earlier forecasts and marks a five-year high for the automaker, with both operating income and revenue up by 9.5 percent and 2.5 percent, respectively. Toyota saw quarterly profit enjoy a year-on-year jump of 23.4 percent, with the manufacturer earning more than $1 billion between October and December 2012. The good news comes in spite of the fact that the Japanese automaker actually endured an operating loss in North America, due in part to legal fees.

Toyota is set to pay more than $1 billion to owners who claim their vehicles decreased in value as a result of the company's recent spate of recalls. Even so, all three of the automaker's brands enjoyed a 13.5 percent sales increase in the US in the last quarter, beating the industry average. Toyota faltered in Europe, however, where it earned $99 million in operating profit last year, compared to $111 million in 2011. You can take a closer look at the company's full press release below for more information.
Show full PR text
Toyota Motor Corporation Announces Financial Results for the Nine-month Period Ended December 31, 2012

(All consolidated financial information has been prepared in accordance with
accounting principles generally accepted in the United States of America)

Toyota City, Japan, February 5, 2013-Toyota Motor Corporation (TMC) today announces
its financial results for the nine-month period ended December 31, 2012.

On a consolidated basis, net revenues for the period totaled 16.2 trillion yen, an increase
of 26.0 percent compared to the same period last fiscal year. Operating income increased
from 117.1 billion yen to 818.5 billion yen, an increase of 701.3 billion yen, while income
before income taxes1 was 925.7 billion yen. Net income2 increased from 162.5 billion yen
to 648.1 billion yen.

Major factors contributing to the increase in operating income include the positive effects
from marketing activities generating 660.0 billion yen and cost reduction efforts saving
320.0 billion yen.

Consolidated vehicle sales for the nine months totaled 6.629 million units, an increase of
1.634 million units compared to the same period last year.

Commenting on the results, TMC Senior Managing Officer Takahiko Ijichi said: "Our
consolidated operating income for the period April through December 2012, 818.5 billion
yen, reflects our increased vehicle sales and the progress we are making with our profit
improvement activities-in spite of a currency exchange rate around the same level as
last year. We also managed to secure an unconsolidated operating income of 21.5
billion yen for the same period."

In Japan, vehicle sales totaled 1.668 million units, an increase of 310,564 units compared
to the same period last fiscal year. Operating income from Japanese operations
increased by 572.9 billion yen to 266.4 billion yen.

In North America, vehicle sales totaled 1.865 million units, an increase of 596,587 units
compared to the same period last fiscal year. Operating income increased by 13.6 billion
yen to 165.4 billion yen, including 31.3 billion yen of valuation gains/losses on interest
rate swaps. Operating income, excluding the impact of valuation gains/losses on interest
rate swaps, increased by 19.7 billion yen to 134.1 billion yen.

In Europe, vehicle sales totaled 603 thousand units, an increase of 23,365 units
compared to the same period last fiscal year, while operating income increased by 12.7
billion yen to 21.3 billion yen.

In Asia, vehicle sales totaled 1.267 million units, an increase of 373,635 units compared
to the same period last fiscal year, while operating income increased by 115.2 billion yen
to 286.3 billion yen.

In Central and South America, Oceania and Africa, vehicle sales totaled 1.226 million
units, an increase of 329,698 units compared to the same period last fiscal year, while
operating income decreased by 4.9 billion yen to 91.0 billion yen.

In the financial services segment, operating income decreased by 10.9 billion yen to
243.5 billion yen compared to the same period last year, including 27.7 billion yen of
valuation gains/losses on interest rate swaps. Excluding valuation gains/losses,
operating income decreased by 10.5 billion yen to 215.8 billion yen. This was mainly
due to a lower reversal of provisions for loan and residual losses in comparison to the
same period last year.

TMC also today revises its consolidated vehicles sales forecast for fiscal year 2013 from
8.750 million units to 8.850 million units, an increase of 100,000 units from the previous
forecast announced in November 2012, due to the increased overseas vehicle sales,
mostly in North America.

TMC also upwardly revises its consolidated financial forecasts for fiscal year 2013 to
consolidated net revenue of 21.8 trillion yen, operating income of 1.15 trillion yen, income
before income taxes of 1.29 trillion yen and net income of 860.0 billion yen, with the
revision of an exchange rate of 81 yen to the U.S. dollar and 104 yen to the euro.

Commenting on the forecasts for fiscal year 2013, Ijichi said: "Given increased overseas
vehicle sales mostly in North America, progress in our companywide profit improvement
activities and the slight weakening of the yen, we have revised upwardly our consolidated
forecast for the current fiscal year to 1.15 trillion yen and also forecast a full-year profit on
an unconsolidated basis, our first in five years. We believe that our efforts have been
bearing fruit and that we are finally on the road to sustainable growth. We will continue
our efforts to build ever-better cars and to move forward in a steadfast manner."

1Income before income taxes and equity in earnings of affiliated companies
2Net income attributable to Toyota Motor Corporation


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    • 1 Second Ago
  • 35 Comments
      richard
      • 1 Year Ago
      Dumb Americans. It looks like the only way to stop idiots from buying these Asian vehicles, is to tax the hell out of them. Add a $500.00 tax to registration fees for any Asian vehicle.
        Taint
        • 1 Year Ago
        @richard
        free market?
          mikoprivat
          • 1 Year Ago
          @Taint
          if it's such a free market how come most asian countries tax the $hit out of anything Made in America...you americans are dumber than dumb and the asians know that and take advantage of it
          mapoftazifosho
          • 1 Year Ago
          @Taint
          VW is actually doing quite well in Japan now that they're offering the cars the Japanese want to buy. GM sold the Cavalier under the Toyota brand and guess what...it didn't sell... Build what the market wants...its no wonder Silverados and F150s aren't going to do well in Japan...
        bubba_roe
        • 1 Year Ago
        @richard
        Why would I want to buy a white trash dumpmestic? I hate redneck crap.
        mark
        • 1 Year Ago
        @richard
        really it could be $10,000 and i still would buy toyota or honda. Also i paid $410 for the personal property taxes on my cars for just this year alone. i dont think your tax plan will work that well.
      Walt
      • 1 Year Ago
      My opinion is that women have a very favorable opinion of Asian imports, an opinion that has been cultivated over many years. Now, even though Toyota doesn't live up to that opinion and probably never has, I don't believe women spend as much time on car sites like this one becoming informed on the latest trends. Since women are involved in over half the vehicle buying decisions, I can see why Toyota is still doing well. But Toyota's endless string of quality gaffs is going to catch up to them, eventually.
      Rob J
      • 1 Year Ago
      Bland sells.
        BryNum
        • 1 Year Ago
        @Rob J
        It sure does. Ask the other non-bland companies how they are doing in sales? I would rather be bland and make tons of profit. Last time I checked, they are in the business to make money.
          bubba_roe
          • 1 Year Ago
          @BryNum
          Ford exciting? Maybe for hillbilly dumpmestic fanbois.
        Rob J
        • 1 Year Ago
        @Rob J
        I have no idea why I'm being down voted... The Camry, Corolla and Prius are all pretty bland cars and that is apparently what people want. Bland sells.
          Generic
          • 1 Year Ago
          @Rob J
          Outside of all high end cars or sports cars, all cars are pretty boring and bland. The difference is, Toyota has a good track record. Oddly enough, I find them tighter, cleaner looking, more timeless them GM and Chrysler rental cars I've been in. I don't take a personal office that you don't understand supply and demand and that quality is responsible for Toyota's success. That bland Prius line up started a revolution and other car makers are playing catchup. What I am upset about is that an American company didn't come up with it first. American auto makers push SUVs, and Toyota creates a Prius. Go Merica!
          Generic
          • 1 Year Ago
          @Rob J
          Rob, have you even driven any of them? Taken one on a long trip? Had one start day after day and only needing fluids? The Corolla is a bit dated because they've had such a long run with minimal updates, but its not the 90s any more. They are not as bland and boring as people make them out to be. Quality sells and Toyota gets the repeat business they deserve. Their success didn't happen over night, it happened over decades. No amount of bad press is going to scare away happy customers. You don't have to actually get it or understand it. Your lack of understanding doesn't hurt Toyota.
      bullitt2605
      • 1 Year Ago
      Toyota appeals to the masses not for the most part auto enthusiasts. Auto enthusiasts generally look for more than what Toyota offers and will look at other options to find it.
        Avinash Machado
        • 1 Year Ago
        @bullitt2605
        Most car buyers are not enthusiasts.
          bullitt2605
          • 1 Year Ago
          @Avinash Machado
          Did you read my first sentence? \"Toyota appeals to the masses\", let me translate Toyota tries to appeal to most people. Now let me translate the second line auto enthusiast look for something more than what the general public wants. Sheesh you state the obvious and get downrated. I didn\'t say anything bad about Toyota you Toy fan boys need to lighten up.
      • 1 Year Ago
      [blocked]
        FIDTRO
        • 1 Year Ago
        Are you implying that what sells the most is the best product on the market?
          • 1 Year Ago
          @FIDTRO
          [blocked]
          404 not found
          • 1 Year Ago
          @FIDTRO
          No. He's saying Toyota could find a cure for cancer and idiots here would still hate it.
          desinerd1
          • 1 Year Ago
          @FIDTRO
          you mean like how iPhone is the largest selling smartphone?
      bubba_roe
      • 1 Year Ago
      Looks like the all the dumpmestic fanboi smear campaigning isnt doing its job.
        Donny Hoover
        • 1 Year Ago
        @bubba_roe
        I've never owned a domestic in my life and other than a few sports/muscle cars and maybe a diesel truck, I doubt I ever will. Having said that, I pledge to stop hating on Toyota when they put forced induction in the 86 and release a new Supra, or similar. It's like they have a vendetta against fun and it is really sad to see from the company who has built some of the greatest sports cars ever. Dependability is great but a failure to make anything fun just because it won't sell like a Camry, shows lack of enthusiasm. Trying to instead market said Camry as a sports car is just irritating, and an insult to other companies that do build real sports cars.
          Donny Hoover
          • 1 Year Ago
          @Donny Hoover
          I considered buying an FR-S and rebadging it to an 86, but decided it was too slow. I'd drive a 90's MR2 or Mk4 supra any day. You may not like it when people like me complain but enthusiasts are already in the minority. Without our input, they're even more likely to keep making only family cars and land barges. It is a fact that I would have bought the 86 had a turbo option been available (or waited had one been officially confirmed to be in the tubes), and that instead, I took my money elsewhere. That's money out of their pocket. While complaining about it probably won't have much effect, anybody who wants a new Supra or warrantied, blown 86 doesn't deserve one unless they are willing to make their voice heard and and fight for it.
          • 1 Year Ago
          @Donny Hoover
          [blocked]
          • 1 Year Ago
          @Donny Hoover
          [blocked]
      Smilez1105
      • 1 Year Ago
      It\'s funny how I read through all of the comments. 50% of them being \"Here come the Toyota bashers\". Domestic bashers are the only ones having a pity party here. Pull your panties up and quit whining. Good for Toyota. Are they bland? Yup. They are for the \'A\' to \'B\' set. Nothing more. That\'s what 90% of the buying public is, is a \"I want to get where I\'m going and get back safely\".
      DraGuLa
      • 1 Year Ago
      Funny that they report their financials in yen. I thought they were an American company...
        • 1 Year Ago
        @DraGuLa
        [blocked]
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