Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens Daniel Wu in South China, rain and snow for the delivery of clues! CTOnews.com May 11 news, Toyota announced on the 10th financial results for the fiscal year ending March 2023, and announced that sales hit a record high of 37.1542 trillion yen (CTOnews.com Note: currently about 1.91 trillion yuan), an increase of 18.4% year-on-year.

Despite the depreciation of the yen, Toyota said its main business profit was 2.725 trillion yen (down 9.0% from a year earlier) due to soaring raw material prices.

In the fourth quarter, sales revenue was 9.69 trillion yen, up 19% from a year earlier, while net profit was 552.29 billion yen, up 3.4% from a year earlier. Toyota's revenue for fiscal 2022 was 37.15 trillion yen, up 18.4% from a year earlier, while net profit was 2.45 trillion yen, down 14% from a year earlier. Toyota announced that it would buy back its shares for no more than 150 billion yen.

Toyota said it would invest an additional Y1,000bn (currently about 51.4 billion yuan) in electric vehicles by the end of 2030, bringing Toyota's total planned spending in the sector to about $37 billion (currently about 256.41 billion yuan) during this period.

Toyota said it planned to sell 202000 electric vehicles in the fiscal year ending in March 2024, more than five times the number sold in the previous fiscal year.

Toyota announced on the 10th that it expects its consolidated operating income to increase by 10% to 3 trillion yen in the fiscal year ending March 2024 compared with the same period last year. If achieved, it would be the first time for a Japanese company and Toyota's highest profit in two years, while net profit is expected to rise 5 per cent to 2.58 trillion yen and sales are expected to rise 2 per cent to 38 trillion yen.

It is worth mentioning that the Japanese company's previous record operating profit was Toyota's operating profit for the fiscal year ending March 2022, when the company reported an operating profit of 2.9956 trillion yen. Assuming that Toyota can achieve 3 trillion yen, it indicates that the company will once again set a new record for Japanese companies.

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