TMC Announces April Through June 2022 Financial Results

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TMC Announces April Through June 2022 Financial Results
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All consolidated financial information has been prepared in accordance with International Financial Reporting Standards (IFRS)


TOYOTA CITY, Japan – WEBWIRE



Toyota Motor Corporation (TMC) today announced its financial results for the first quarter, which ended June 3src, 2src22.


Consolidated vehicle sales totaled approximately 2,src13,srcsrcsrc units, a decrease of approximately 135,srcsrcsrc units compared to the same period last fiscal year. On a consolidated basis, net revenues for the period totaled 8.491 trillion yen ($65.3 billion), an increase of 7.src%. Operating income decreased from 997.4 billion yen ($9.src billion) to 578.6 billion yen ($4.4 billion), while income before income taxes 1 was 1.src21 trillion yen ($7.8 billion). Net income 2 decreased from 897.8 billion yen ($8.1 billion) to 736.8 billion yen ($5.6 billion).


Regions


North America: Vehicle sales totaled approximately 635,srcsrcsrc units, a decrease of 26,srcsrcsrc units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 129.1 billion yen ($993.src million) to 88.src billion yen ($676.9 million).


Japan: Vehicle sales totaled approximately 4src3,srcsrcsrc units, a decrease of 97,srcsrcsrc units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 18src.6 billion yen ($1.3 billion) to 337.6 billion yen ($2.5 billion).


Europe: Vehicle sales totaled approximately 248,srcsrcsrc units, a decrease of 33,srcsrcsrc units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 6.3 billion yen ($48.4 million) to 23.6 billion yen ($181.5 million).


Asia: Vehicle sales totaled approximately 361,srcsrcsrc units, a decrease of 4,srcsrcsrc units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 24.8 billion yen ($19src.7 million) to 192.2 billion yen ($1.47 billion).


Other regions (including Central and South America, Oceania, Africa, and the Middle East): Vehicle sales totaled approximately 366,srcsrcsrc units, an increase of 26,srcsrcsrc units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 22.5 billion yen ($173.src million) to 41.2 billion yen ($316.9 million).


Financial Services


Financial services operating income increased by 4.6 billion yen ($35.3 million) to 167.9 billion yen ($1.2 billion). Including valuation gains/losses, operating income decreased by 81.5 billion yen ($626.9 million) to 114.5 billion yen ($88src.7 million).


(*FY23 currency translations above are approximate and based on an average 13src-yen-to-dollar exchange rate; FY22 is 11src-yen-to-dollar exchange rate)


Forecast


For the fiscal year ending March 31, 2src23, TMC estimates consolidated vehicles sales will be 8.85 million units. Based on an exchange rate assumption of 13src yen to the U.S. dollar, TMC forecasts consolidated net revenue of 34.5 trillion yen ($265.3 billion), operating income of 2.4 trillion yen ($18.4 billion), income before income taxes of 3.27 trillion yen ($25.1 billion), and net income of 2.36 trillion yen ($18.1 billion).


(*all currency translations above are approximate and based on an average 13src -yen-to-dollar exchange rate.)


1 Income before income taxes and equity in earnings of affiliated companies


2 Net income attributable to Toyota Motor Corporation


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