Toyota reveals its 2010 financial results for the 1st half of the year

Posted on Friday, 6 November 2009 , 07:11:54 byEmil

Filed under moneyfinancialresultstmcfy2010toyotafirst-halfyearToyotaAsian

Toyota reveals its 2010 financial results for the 1st half of the year

Toyota Motor Corporation made public its financial results for the 6 months ending this year on 30th of September. Net revenues are now down with 31.3 % if we compared it to the previous year, 8.378 trillion yen in total. Their operating income fell also from 582 billion yen down to a 136.9 billion yen loss.

The income of TMC before taxes plus earnings' equity of affiliated firms was a 63.0 billion yen loss. The net income was 493.4 billion yen, now it's 56.0 billion yen loss. Consolidated car sales for the 1st half were 3.13 million units - 1.12 million models decrease compared to the same 2008's period of time.

Yoichiro Ichimaru - TMC Executive Vice President affirmed 'The net revenues and profits declined for this period due to the decline in vehicles sales in each region, as well as the negative impact of the yen’s appreciation. However, we continued to make improvements in our reduction in fixed costs and cost reduction efforts in the first half of fiscal year 2010. Progress with our Emergency Profit Improvement activities have been steadily bearing fruit. In addition, demand-stimulating measures by governments worldwide have contributed to our revised targets for the full fiscal year'.

Ichimaru - Executive Vice President comments the FY2010's amended forecasts: 'We will continue to promote profit improvement activities across the company. However, the outlook for global vehicle demand still remains uncertain. We will therefore continue to carefully analyze the global market going forward in order to further improve our earnings prospects'.