Toyota Motor net income saw first quarter rise; forecast unchanged

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Toyota

Toyota Motor Corp said on Wednesday that its first quarter sales volume has recovered to a level close to that of 2019, the year before the Covid-19 outbreak, despite the severe business environment due to semiconductor shortage and the spread of Covid-19 in emerging countries.

Going forward, the company will continue to accelerate its transformation into a mobility company by both improving earnings structure and aggressively investing in the future, it said.

First quarter net income attributable to company was 897.8 billion yen (8.2 billion dollars), compared to 158.8 billion yen in the previous year. Earnings per share increased to 321.11 yen, from 56.87 yen.

First quarter total sales revenues were 7.94 trillion yen compared to 4.60 trillion, prior year. Consolidated vehicle sales were at 2,148,000 units. Toyota and Lexus brand vehicle sales were at 2,545,000 units.

For fiscal 2022, the company continues to project basic earnings per share of 164.62 yen and sales revenues of 30.00 trillion yen. Also, the forecasts of consolidated vehicle sales and Toyota and Lexus brand vehicle sales remain unchanged.

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