Toyota Motor Corporation Announces Financial Results for Fiscal Year Ended March 31, 2015
Toyota City, Japan, May, 08 2015 - (ACN Newswire) - Toyota Motor Corporation (TMC) today announces its financial results for the fiscal year ended March 31, 2015.
Consolidated vehicle sales totaled 8,971,864 units, a decrease of 144,169 units compared to the previous fiscal year. On a consolidated basis, net revenues for the period totaled 27.23 trillion yen, an increase of 6.0 percent. Operating income increased from 2.2921 trillion yen to 2.7505 trillion yen, while income before income taxes1 was 2.8928 trillion yen. Net income2 increased from 1.8231 trillion yen to 2.1733 trillion yen.
Operating income increased by 458.4 billion yen. Major factors contributing to the increase included currency fluctuations of 280.0 billion yen and cost reduction efforts of 280.0 billion yen.
Commenting on the results, TMC President Akio Toyoda said: "Operating income improved by 458.4 billion yen to 2.7505 trillion yen due to positive factors such as favorable foreign exchange rates and cost reduction efforts that more than offset negative factors such as decreased vehicle sales and increased expenses including the investments to enhance our future competitiveness."
In Japan, vehicle sales totaled 2,153,694 units, a decrease of 211,716 units. Operating income increased by 61.3 billion yen to 1,571.4 billion yen.
In North America, vehicle sales totaled 2,715,173 units, an increase of 185,775 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 196.4 billion yen to 537.9 billion yen.
In Europe, vehicle sales totaled 859,038 units, an increase of 15,035 units, while operating income increased by 22.8 billion yen to 81.1 billion yen.
In Asia, vehicle sales totaled 1,488,922 units, a decrease of 119,433 units, while operating income increased by 26.0 billion yen to 421.7 billion yen.
In other regions (including Central and South America, Oceania, Africa and the Middle East), vehicle sales totaled 1,755,037 units, a decrease of 13,830 units, while operating income increased by 68.9 billion yen to 111.5 billion yen.
Financial services operating income increased by 66.9 billion yen to 361.8 billion yen, including a gain of 39.8 billion yen in valuation gains/losses from interest rate swaps. Excluding valuation gains/losses, operating income increased by 4.9 billion yen to 321.9 billion yen.
For the fiscal year ending March 31, 2016, TMC estimates that consolidated vehicles sales will be 8.9 million units.
In addition, TMC forecasts consolidated net revenue of 27.5 trillion yen, operating income of 2.8 trillion yen and net income of 2.25 trillion yen for the fiscal year ending March 31, 2016, based on an exchange rate of 115 yen to the U.S. dollar and 125 yen to the euro.
TMC also announces a year-end dividend of 125 yen per share and the acquisition of own shares for 300 billion yen or upper limit of 40 million shares to be proposed at the general shareholders meeting in June.
* All consolidated financial information has been prepared in accordance with U.S. generally accepted accounting principles.
(1) Income before income taxes and equity in earnings of affiliated companies
(2) Net income attributable to Toyota Motor Corporation
Further information is available at www.toyota-global.com.
Cautionary Statement with Respect to Forward-Looking Statements:
This release contains forward-looking statements that reflect Toyota's plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.
About Toyota Motor Corporation
Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.
Toyota Motor Corporation
Public Affairs Division
Global Communications Department
Source: Toyota Motor Corporation
Copyright ©2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.