Toyota's April-Sept. Operating Profit Up for 2 Yrs in Row

Economy

Tokyo, Nov. 7 (Jiji Press)--Toyota Motor Corp. <7203> said Thursday its group operating profit in April-September grew 11.3 pct from a year before to 1,404,336 million yen, up for the second consecutive fiscal first-half period.

In the first half of fiscal 2019, consolidated sales at the leading Japanese automaker rose 4.2 pct to 15,285,595 million yen. Its net profit went up 2.6 pct to 1,274,976 million yen.

The Toyota group's global vehicle sales, including sales at subsidiaries Daihatsu Motor Co. and Hino Motors Ltd. <7205>, in the six-month period expanded 3.1 pct from a year earlier to some 5.45 million units, hitting a record high.

The result reflected robust sales in the domestic market, strong demand for Lexus luxury brand models in China and the continued popularity of hybrid vehicles in Europe.

However, industry watchers say uncertainty remains over the course of the Toyota group's performance at a time when the Chinese economy is slowing down due chiefly to U.S.-China trade war and new automobile sales in the United States are reaching a ceiling. Costs for developing autonomous driving, electrification and other cutting-edge technologies are also expected to weigh on the group's earnings.

[Copyright The Jiji Press, Ltd.]

Jiji Press