The Strategist

Toyota's net profit grows in first nine months of fiscal year

02/09/2022 - 09:21

Japan's Toyota Motor Corp. net income for the nine months (April 1 to December 31) of the fiscal year 2021-2022 rose 45 percent year on year to 2.316 trillion yen ($20 billion), the company said in a report.

Diluted earnings per share were 166.45 yen ($1.44) compared with 104.01 yen ($0.9) for the same period in the previous fiscal year. The company's revenue in annual terms increased by 19% - to 23.267 trillion yen (201.7 billion dollars), and operating profit increased 1.7 times - to 2.532 trillion yen (22 billion dollars).

Toyota's net income fell 5.6% year on year to 791.738 billion yen ($6.9 billion) in the third quarter of this fiscal. Revenue fell 4.5% to 7.79 trillion yen ($67.6 billion) and operating profit was down 20.6% to 784.4 billion yen ($6.8 billion).

The company's 9-month global sales totaled 5.438 million vehicles, down 20.7% from a year ago. Sales for the third quarter of the fiscal year rose 6.9% year over year to 2.353 million vehicles. The company plans to sell a total of 7.6 million vehicles in the current fiscal year.

At the same time, Toyota worsened its revenue forecast for the year: now the company expects revenue of 29.5 trillion yen ($255.7 billion) instead of 30 trillion yen ($260 billion). Its net income forecast is unchanged at 2.5 trillion yen ($21.7 billion).