Toyota Motor (TM) Posts Improved Performance Through End of FY12; Boosts Outlook

February 5, 2013 6:27 AM EST
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Toyota Motor Corp. (NYSE: TM) reports a 26 percent increase in revs for the nine months ended December 31, 2012, to ¥16.2 trillion. Net income rose from ¥162.5 billion to ¥648.1 billion.

Major factors contributing to the increase in operating income include the positive effects from marketing activities generating ¥660.0 billion and cost reduction efforts saving ¥320.0 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.

TMC also today revises its consolidated vehicles sales forecast for fiscal year 2013 from 8.750 million units to 8.850 million units, an increase of 100,000 units from the previous forecast announced in November 2012, due to the increased overseas vehicle sales, mostly in North America.

TMC also upwardly revises its consolidated financial forecasts for fiscal year 2013 to consolidated net revenue of ¥21.8 trillion, operating income of ¥1.15 trillion, income before income taxes of ¥1.29 trillion and net income of 860.0 billion yen, with the revision of an exchange rate of ¥81 yen to the U.S. dollar and 104 yen to the euro.

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