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Posts Tagged ‘Toyota Motor Corporation Results’

Toyota Posts Loss of $1.5 Billion for First Half

Vehicle sales dropped more than one million units. Full year loss of $4 billion predicted despite cost cutting and plant closings.

by on Nov.05, 2009

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Production cuts and revenue loss outrun efficiency measures.

Toyota Motor Corporation (TMC) today announced financial results for the six months ended September 30, 2009 in Tokyo. On a consolidated basis, the net revenues for the first half of the fiscal year totaled 8.378 trillion yen, ~$93 billion, a decrease of 31% compared to the same period last fiscal year.

Operating income decreased from 582.0 billion yen to a loss of 136.9 billion yen, ~$1.5 billion, while income before income taxes and equity in earnings of affiliated companies was a loss of 63.0 billion yen. Net income decreased from 493.4 billion yen to a loss of 56.0 billion yen or $620 million, which is a swing negative of more than $6 billion.

Operating income, compared to the same period last fiscal year, decreased by 718.9 billion yen or almost $8 billion. Major factors contributing to the decline include 910.0 billion yen due to the effects of sales volume and mix and 320.0 billion yen due to the appreciation of the Japanese yen against the U.S. dollar and the Euro, which overrode the positive impact of our reduction in fixed costs and cost reduction efforts,” the company said in a statement.

As part of its ongoing cost cutting to stem  the flow of red ink, Toyota announced it is withdrawing from Formula One Racing, following a withdrawal by Honda last year, and BMW this year.

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Toyota Motor Production Declines 10% in August

Year-to-date output drops 35%.

by on Sep.28, 2009

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Exports are off 55% YTD.

Toyota Motor Corporation (TMC) announced its production, domestic sales and export results, including those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd., for August 2009 this morning and it showed slump continuing, although at a lower rate than previously.

Toyota’s production fell for a 13th straight month, declining 9% to 508,673 vehicles from August a year earlier, though the drop has been shrinking since March, and the company said. Honda’s output fell 17%. Nissan’s production was off 14%.

Year-to-date, TMC production is off 35%.

Toyota’s overseas production in August increased for the first time in 13 months, due to North America and Asia. China posted the largest gain, a 53% increase.

Toyota’s North American production gained 12%. This was largely the result of shutting all production of Tundra and Sequoia trucks last August. That shut down continued for three months.

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