Fiscal year 2012 brought Toyota big jumps in operating, net income
Toyota’s net revenues for the nine-month period that ended Dec. 31 were 16.2 trillion yen (about $174.8 billion).
That represented a 26 percent increase over the same period last fiscal year. The company announced the results Tuesday.
Operating income increased 117.1 billion yen ($1.3 billion), to 818.5 billion yen ($88.2 billion). Net income increased from 162.5 billion yen to 648.1 billion yen ($6.9 billion).
The company attributed the increase in operating income to successful marketing efforts that generated 660.0 billion yen ($7.1 billion) and reducing costs by 320 billion yen ($3.5 billion).
Consolidated vehicle sales for the nine months totaled 6.629 million units, an increase of 1.634 million units compared to the same period last year.
In Japan, vehicle sales totaled 1.668 million units, an increase of 310,564 units compared to the same period last fiscal year. In North America, vehicle sales totaled 1.865 million units, an increase of 596,587 units compared to the prior year.
Also on Tuesday, Toyota revised its consolidated vehicle sales forecast for fiscal year 2013 from 8.75 million units to 8.85 million units, an increase of 100,000 units from the previous forecast announced last November. The upward adjustment was attributed to an expected jump in North American sales.
The company also said it expects fiscal year 2013 consolidated net revenue to reach 21 trillion yen ($226.5 billion), operating income of 1.15 trillion yen ($10.8 billion), and net income of 860 billion yen ($9.3 billion).
“We believe that our efforts have been bearing fruit and that we are finally on the road to sustainable growth,” Toyota senior managing officer Takahiko Ijichi said in a company press release. “We will continue our efforts to build ever-better cars and to move forward in a steadfast manner.”