Toyota Q1 Net Profit Surges 75.6% but Full-Year Profit Seen Declining
Toyota's first-quarter net profit rose 75.6% year-on-year to ¥1.48 trillion, but the automaker forecast a 15.5% decline in net income for the fiscal year ending March 2027.
Toyota Motor reported a sharp increase in net profit for the first quarter of its fiscal year, driven by one-time gains, while operating profit slipped. Net profit came in at ¥1.48 trillion, up 75.6% from the same quarter a year earlier. Operating profit declined 8.8% to ¥1.06 trillion, and pretax profit surged 56.8% to ¥1.96 trillion.
Looking ahead, Toyota expects full-year net profit to fall 15.5% to ¥3.25 trillion in the fiscal year ending March 2027. Operating profit is forecast at ¥3.40 trillion, down 9.7%, and pretax profit at ¥4.57 trillion, down 11.3%. The company kept its global retail sales forecast unchanged at 11.18 million vehicles.
Regional sales estimates show slight increases in North America and Europe, unchanged in Japan, and a decrease in Asia. The automaker now assumes an average dollar exchange rate of ¥160, up from the prior assumption of ¥150, and a euro rate of ¥181, up from ¥180.
Source: First Squawk