By end of March 2010, Toyota Motor Corporation (TMC) announced financial results for the fiscal year ended March 31, 2010.
Basically, the net revenues for the fiscal year ended March 2010 totaled 18.95 trillion yen, a decrease of 7.7 percent compared to the last fiscal year. Operating income increased from a loss of 461 billion yen to 147.5 billion yen, and income before income taxes, minority interest and equity in earnings of affiliated companies was 291.4 billion yen. Net income increase from a loss of 437 billion yen to 209.4 billion yen.
Operating income increased by 608.5 billion yen. Positive factors contributing to the increase include 520 billion due to the cost reduction efforts and 470 billion yen due to the reduction in the fixed cost. Consolidated vehicle sales for the the fiscal year totaled 7.24 million units, a decrease of 330 thousands units from the last fiscal year.
In Japan, vehicle sales were 2.16 million units, an increase of 218 thousand units compared to the last fiscal year. Operating income, increased by 12.3 billion yen to a loss of 225.2 billion yen.
In North America, vehicle sales totaled 2.1 million units, a decrease of 114 thousand units. Operating income increased by 475.6 billion yen to 85.4 billion yen including 31.3 billion yen of valuation profits from interest rate swaps. Operating income excluding the impact of valuation profit on interest swaps increased by 417.1 billion yen, to 54.1 billion yen, mainly due to improved market conditions and financial services.
In Europe, vehicle sales were 858 thousand units, a decreased of 204 thousand units, while operating income increased by 110.3 billion yen to a loss of 33 billion yen.
In Asia, vehicle sales were 979 thousand units, an increase of 74 thousand units. Operating income increased by 27.5 billion yen to 203.6 billion yen.
TMC estimates that consolidated vehicle sales for the fiscal year ending March 2011 will be 7.29 million units, an increase of 53 thousand units from fiscal year 2010, due to increased sales volume in regions outside of Japan. Based on an exchange rate of 90 yen to the US dollar and 125 yen to the euro, TMC forecasts consolidated net revenue 19.2 trillion yen, operating income of 280 billion yen and net income of 310 billion yen.
