Toyota Announces Year-End Financial Results for Fiscal Year Ende
Toyota Announces Year-End Financial Results for Fiscal Year Ended March 31, 2013
Toyota City, Japan, May 8, 2013 - (JCN Newswire) - Toyota Motor Corporation (TMC) today announces its financial results for the fiscal year ended March 31, 2013.
On a consolidated basis, net revenues totaled 22.0 trillion yen, an increase of 18.7 percent compared to the previous fiscal year. Operating income increased from 355.6 billion yen to 1.32 trillion yen, an increase of 965.2 billion yen, while income before income taxes1 was 1.40 trillion yen. Net income2 increased from 283.5 billion yen to 962.1 billion yen.
Major factors contributing to the increase in operating income include the positive effects from marketing activities generating 650.0 billion yen, cost reduction efforts saving 450.0 billion yen and currency fluctuations of 150.0 billion yen, which offset the negative effects from related expenses of 300.0 billion yen.
Consolidated vehicle sales totaled 8.871 million units, an increase of 1.519 million units compared to the previous fiscal year.
Commenting on the results, TMC President Akio Toyoda said: "In the fiscal year ended March, we experienced increased sales of our vehicles mainly in North America and Asia, and, coupled with the results of companywide profit improvement activities, we booked operating income of 1.32 trillion yen. We have faced many challenges since 2009 but have learned valuable lessons, including the need for Toyota to maintain sustainable growth. We believe that the driver for sustainable growth is ultimately ever-better cars, and we are launching cars developed with this mindset. We are also making progress in reforming our manufacturing technologies and vehicle development processes under the Toyota New Global Architecture and I am convinced that the positive cycle defined for our business in the Toyota Global Vision is now gradually but steadily taking shape."
In Japan, vehicle sales totaled 2.279 million units, an increase of 207,997 units compared to the previous fiscal year. Operating income from operations in Japan increased by 783.3 billion yen to 576.3 billion yen.
In North America, vehicle sales totaled 2.469 million units, an increase of 596,381 units compared to the previous fiscal year. Operating income increased by 35.5 billion yen to 221.9 billion yen, including 33.0 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 28.7 billion yen to 188.9 billion yen.
In Europe, vehicle sales totaled 799,085 units, an increase of 1,092 units, while operating income increased by 8.6 billion yen to 26.4 billion yen.
In Asia, vehicle sales totaled 1.684 million units, an increase of 356,749 units, while operating income increased by 119.2 billion yen, to 376.0 billion yen.
In Central and South America, Oceania and Africa, vehicle sales totaled 1.640 million units, an increase of 356,516 units, while operating income increased by 24.9 billion yen to 133.7 billion yen.
In the financial services segment, operating income increased by 9.3 billion yen, to 315.8 billion yen compared to the previous fiscal year, including 29.5 billion yen of valuation gains/losses on interest rate swaps. Excluding valuation gains/losses, operating income decreased by 3.5 billion yen to 286.2 billion yen.
TMC estimates that consolidated vehicles sales for the fiscal year ending March 31, 2014 to be 9.1 million units, an increase of approximately 229,000 units over the previous fiscal year, due to increased vehicle sales outside Japan.
In addition, TMC forecasts consolidated net revenue of 23.5 trillion yen, operating income of 1.8 trillion yen and net income of 1.37 trillion yen for the fiscal year ending March 31, 2014, based on an exchange rate of 90 yen to the U.S. dollar and 120 yen to the euro.
TMC also announces a year-end dividend of 60 yen per share, to be proposed at the general shareholders meeting in June.
All consolidated financial information has been prepared in accordance with accounting principles generally accepted in the United States of America.
Further information is also available at www.toyota-global.com.
(1) Income before income taxes and equity in earnings of affiliated companies (2) Net income attributable to Toyota Motor Corporation
Cautionary Statement with Respect to Forward-Looking Statements: This release contains forward-looking statements that reflect Toyota's plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.
Supported by people around the world, Toyota Motor Corporation (TSE: 7203; NYSE: TM), has endeavored since its establishment in 1937 to serve society by creating better products. As of the end of March 2012, Toyota conducts its business worldwide with 50 overseas manufacturing companies in 27 countries and regions. Toyota's vehicles are sold in more than 160 countries and regions. For more information, please visit www.toyota-global.com.
Toyota Motor Corporation Public Affairs Division Global Communications Department Tel: +81-3-3817-9926
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