Toyota’s full-year financial results are the very definition of getting more from less as the company’s net income rose nearly 20% while its vehicle sales dropped globally.
The company’s fiscal year ends March 31, and it reported net income of $19.8 billion – a 19.2% jump – on revenue of $248 billion, which is an increase of 6%. The company’s operating income was also up 20% to $25.1 billion.
The maker finished its year with a flourish. Its fourth-quarter net income rose to $3.73 billion, from $2.48 billion from the year-ago period. Operating profit jumped 46% to $5.31 billion compared with $3.65 billion. Toyota’s revenue increased 8.4% to $59.52 billion in the period. (more…)