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Toyota Net Up, Though Operating Income Falls, Maker Forecasting Big Full-Year Increase

News comes as Japanese giant prepares to unveil new battery-car joint venture with Mazda.

by on Aug.04, 2017

Toyota posted an 11% increase in net earnings for the company's first quarter, beating analysts' forecasts.

Toyota Motor Corp. delivered an 11% jump in net earnings on Friday, though the maker said its operating profit tripped by roughly the same percentage during the first quarter of its fiscal year.

The numbers were better than industry analysts had predicted, nonetheless, and the Japanese giant raised by 16% its forecast for net income during the fiscal year ending next March 31, in part due to expectations for a weaker yen.

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Toyota’s financial news was all but drowned out, however, by the maker’s confirmation that it will take an equity stake in smaller Japanese maker Mazda Motors Corp. The two companies also are expected to launch a new joint venture to produce electric vehicles while setting up a U.S. assembly plant that will cost $1.6 billion and employ as many as 4,000 workers after it goes into operation in 2021. (more…)

Toyota Rounds Out Year with $19.8B in Net Income

Japanese maker takes global sales hit.

by on May.08, 2015

Toyota's Akio Toyoda said the company's strong profits were due to cost-cutting efforts and a weak yen.

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.

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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…)