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Toyota Motor Corporation Announces Financial Results for Fiscal Year Ended March 31, 2014
|By JCN Newswire
|May 8, 2014 06:42 AM EDT
Tokyo, May 8, 2014 - (JCN Newswire) - Toyota Motor Corporation (TMC) today announces its financial results for the fiscal year ended March 31, 2014.
On a consolidated basis, net revenues for the period totaled 25.69 trillion yen, an increase of 16.4 percent compared to the previous fiscal year. Operating income increased from 1.32 trillion yen to 2.29 trillion yen, an increase of 971.2 billion yen, while income before income taxes1 was 2.44 trillion yen. Net income2 increased from 962.1 billion yen to 1.82 trillion yen.
Major factors contributing to the increase in operating income included currency fluctuations of 900.0 billion yen, cost reduction efforts of 290.0 billion yen and marketing activities of 180.0 billion yen.
Consolidated vehicle sales totaled 9,116,033 units, an increase of 245,369 units compared to the previous fiscal year.
Commenting on the results, TMC President Akio Toyoda said: "Our consolidated operating income increased due to increased vehicle sales mainly in Japan and North America and to group-wide cost reduction activities."
In Japan, vehicle sales totaled 2,365,410 units, an increase of 86,614 units. Operating income from Japanese operations increased by 933.8 billion yen to 1.51 trillion yen.
In North America, vehicle sales totaled 2,529,398 units, an increase of 60,594 units. Operating income increased by 104.1 billion yen to 326.0 billion yen, including a loss of 15.5 billion yen due to valuation gains/losses from interest rate swaps. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 152.7 billion yen to 341.5 billion yen.
In Europe, vehicle sales totaled 844,003 units, an increase of 44,918 units, while operating income increased by 31.7 billion yen to 58.2 billion yen.
In Asia, vehicle sales totaled 1,608,355 units, a decrease of 75,223 units, while operating income increased by 19.6 billion yen to 395.7 billion yen.
In other regions (including Central and South America, Oceania, Africa and the Middle East), vehicle sales totaled 1,768,867 units, an increase of 128,466 units, while operating income decreased by 91.1 billion yen to 42.5 billion yen.
In the financial services segment, operating income decreased by 20.9 billion yen to 294.8 billion yen, including a loss of 22.0 billion yen of valuation gains/losses from interest rate swaps. Excluding valuation gains/losses, operating income increased by 30.7 billion yen to 316.9 billion yen.
TMC estimates that consolidated vehicles sales for the fiscal year ending March 31, 2015 to be 9.1 million units.
In addition, TMC forecasts consolidated net revenue of 25.7 trillion yen, operating income of 2.3 trillion yen and net income of 1.78 trillion yen for the fiscal year ending March 31, 2015, based on an exchange rate of 100 yen to the U.S. dollar and 140 yen to the euro.
TMC also announces a year-end dividend of 100 yen per share, to be proposed at the general shareholders meeting in June.
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 December 2012, Toyota conducts its business worldwide with 52 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
Copyright 2014 JCN Newswire. All rights reserved. www.japancorp.net
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