Cars and Drivers

Toyota Earnings Signal Recovery

Toyota Motor Corp. (NYSE: TM) issued financial data that showed that in the short term the auto manufacturer has experienced a recovery. Toyota’s fortunes mostly have gotten better since the Japanese earthquake shut many of its plants, and it went through a series of embarrassing recalls of millions of its vehicles.

The announcement of fiscal year financial results said:

On a consolidated basis, net revenues totaled 22.0 trillion yen, an increase of 18.7 percent compared to the previous fiscal year. Operating income increased from 355.6 billion yen to 1.32 trillion yen, an increase of 965.2 billion yen, while income before income taxes was 1.40 trillion yen. Net income increased from 283.5 billion yen to 962.1 billion yen.

Major factors contributing to the increase in operating income include the positive effects from marketing activities generating 650.0 billion yen, cost reduction efforts saving 450.0 billion yen and currency fluctuations of 150.0 billion yen, which offset the negative effects from related expenses of 300.0 billion yen.

Consolidated vehicle sales totaled 8.871 million units, an increase of 1.519 million units compared to the previous fiscal year.

Get Ready To Retire (Sponsored)

Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.