Toyota Logs Record Sales, Net Profit in April-Sept.
Tokyo, Nov. 7 (Jiji Press)--Toyota Motor Corp. <7203> said Thursday its consolidated sales and net profit in April-September marked its highest levels on a fiscal first-half basis, backed by brisk global automobile sales that more than offset an adverse impact from the yen's appreciation.
For the first half of fiscal 2019, the leading Japanese automaker logged sales of 15,285,595 million yen, up 4.2 pct year on year, and a net profit of 1,274,976 million yen, up 2.6 pct.
Toyota saw its group operating profit in the period rise 11.3 pct to 1,404,336 million yen, up for the second consecutive fiscal first-half period, although the yen's rises against the dollar and the euro squeezed the profit by about 90 billion yen. Toyota's earnings report is based on U.S. accounting standards.
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 by some 160,000 units from a year earlier to about 5.45 million units, hitting a record high. Demand for Lexus luxury brand models remained high in China, while fuel-efficient hybrid vehicles maintained their popularity in Europe. Sales in the Japanese market were also robust.
Toyota kept its consolidated earnings estimates for the full year to March 2020 unchanged, with sales put at 29.5 trillion yen, down 2.4 pct from the previous year, operating profit at 2.4 trillion yen, down 2.7 pct, and net profit at 2.15 trillion yen, up 14.2 pct.
[Copyright The Jiji Press, Ltd.]