This Week:

• Nissan Displays Modified 350Z Sports Cars and Other Performance Products at 2002 SEMA Show
  .
• Chrysler Group Debuts Vehicle Excitement Team And Three New Show Cars at SEMA Event
  .
• Buick Adds Rainier SUV To Product Line
  .
• The Phaeton: its 4MOTION all-wheel drive and air suspension mean active safety and ride quality at the highest level
  .
• PSA Peugeot Citroën to Build a New Assembly Plant in Europe
  .
• Ford Design VP J Mays to Be Featured in Los Angeles Museum Exhibition
  ... .
• BMW GROUP NA Sales Pass 200,000-Vehicle Threshold
  .
• DaimlerChrysler: smart Variant to be Produced in Brazil
  .
• Toyota Announces Semi-Annual Operating Results
  .
• Shanghai GM To Export Engines To Canada
  .

   

© 1998 - 2002 Copyright & 
Disclaimer
Automotive Intelligence,
www.autointell.com
All Rights Reserved .
For questions please contact
editor@autointell.com  

News of November 06, 2002

Toyota Announces Semi-Annual Operating Results

Net sales, Operating Income, Ordinary Income and Net Income Reach Record Highs

Tokyo - TOYOTA MOTOR CORPORATION (TMC) today announced operating results for the six months ended September 30, 2002.

On a consolidated basis, net sales for the six months totaled 7.88 trillion yen, a 15.4 percent increase compared with the same period last year. Operating income increased 44.3 percent to 730.8 billion yen, while ordinary income increased 50.8 percent to 794.0 billion yen. Net income for the period increased 90.2 percent to 553.7 billion yen, while net income per share(basic) was 158.54 yen, an increase of 78.27 yen compared with the six-month period ended September 30, 2001. All figures represent new records.

The 224.3 billion yen increase in operating income was due largely to cost reduction efforts totaling 150 billion yen, 90 billion yen from the effect of changes in foreign exchange rates and an 80 billion yen increase from improved marketing efforts, including sales. The increase was partially offset by higher research and development, labor and other costs, which amounted to 95.7 billion yen.

Unconsolidated Results Also Increase

On an unconsolidated basis, net sales for the six months ended September 30, 2002 reached 4.2 trillion yen, a 4.8 percent increase year-over-year. Operating income increased 33.1 percent, to 471.3 billion yen, while ordinary income totaled 481.7 billion yen, a 38.8 percent increase. Net income increased 87.7 percent compared with the same period last year, to 382.2 billion yen.

TMC also announced an interim dividend of sixteen yen per share, an increase of three yen per share compared with the six months ended September 30, 2001.

In addition, TMC provided an update regarding its share repurchase plan, which was approved at the General Shareholders' Meeting on June 26, 2002. Under this plan, TMC is authorized to repurchase as many as 170 million shares at a cost of up to 600 billion yen. As of September 30, 55.7 million shares had been repurchased at a cost of 163.3 billion yen.

Strong Domestic and Overseas Sales Continue

In Japan, Toyota's market share for the six-month period (excluding minivehicles) was 42.1 percent, a slight increase over the same period last year. TMC's domestic vehicle sales (including Hino and Daihatsu) decreased by fifty-three thousand vehicles to 1.02 million vehicles.

Overseas sales in the first half increased 23.5 percent, to 1.99 million vehicles.

Total sales for the period, including Japan and overseas, reached 3.01 million vehicles, an increase of 326 thousand vehicles, or 12.1 percent, compared with the same period last year.

Forecast for Unconsolidated Full-Year Results

TMC also announced its unconsolidated forecast for the fiscal year ending March 31, 2003. Based on an exchange rate of 120 yen to the dollar and 115 yen to the euro for the second half, TMC forecasts unconsolidated net sales of 8.6 trillion yen, ordinary income of 820 billion yen, and net income of 590 billion yen for this fiscal year.

(Oct. 30, 2002)

[Homepage] [ News] [ Companies] [ Management] [ Publications] [ Events] [ Careers]
[Services] [Discussion] [ Guestbook] [ Search]