Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period.
It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion).
One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times.
Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year.
For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times.
February 04, 2015
Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year.
Global Financial Highlights:
Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.
Consolidated net revenues rose to 20.11 trillion yen (*$187.9 billion), up 5.2 percent
Operating income increased to 2.1148 trillion yen ($19.8 billion), up 14.0 percent
and Net income jumped to 1.7268 trillion yen ($16.1 billion), a 13.2 percent increase
(*all currency translations above are approximate and based on an average 107-yen-to-dollar exchange rate)
North America Financial Highlights:
Sales increased 145,411 vehicles to 2.10 million
Operating income (excluding valuation gains/losses from interest-rate swaps) increased to 457.0 billion yen (*$4.27 billion).
(*currency translations above are approximate and based on an average 107-yen-to-dollar exchange rate)
Fiscal Year Global Forecast (April 1, 2014 – March 31, 2015) Has Been Revised:
Global consolidated vehicle sales forecast decreased from 9.05 million units to 9.0 million
Consolidated net revenue increased to 27.0 trillion yen (*$247.7 billion)
Operating income increased to 2.7 trillion yen ($24.8 billion)
and net income increased to 2.13 trillion yen ($19.5 billion)
(*all currency translations above are approximate and based on a projected 109-yen-to-dollar exchange rate)