Toyota posts three-way FY record May 11, 2006
Bolstered by a successful marketing strategy and favorable exchange rates, Toyota Motor Corporation has reported 2006 as its strongest ever fiscal year.
The Japanese auto giant said net revenues for the 12 months ended March 31, 2006, increased 13.4% year-on-year to Y21 trillion yen, while operating income reached Y1.87 trillion, an increase of 12.3% over the previous year.
Net income for fiscal 2006 increased 17.2% to Y1.37 trillion, representing the third consecutive year in which profits exceeded Y1 trillion. All of the above figures marked record highs for the firm.
Positive contributions to operating income included Y300 billion from the positive effects of changes in exchange rates, Y240 billion from marketing efforts and Y130 billion from cost reduction efforts. These gains offset the negative effects of Y307 billion in expenses increases and Y156.5 in special factors.
Commenting on the results, Toyota president Katsuaki Watanabe said, “Earnings trended upwards in the latter half of the fiscal year, resulting in positive year-on-year growth for the entire year. Although the effects of foreign currency exchange rates were contributing factors, Toyota’s performance demonstrated the strength of our company’s ongoing operational efforts.”
Watanabe concluded by commenting on the outlook for profitability, “Our business environment will remain severe, with a significant increase in raw material prices and competition intensifying. However, we wish to achieve results that exceed our latest financial results while continuing investment for future growth.”
- Posted in : Toyota,Uncategorized
- Author : arnold
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