Toyota Financial Report: Toyota's consolidated net profit is expected to increase by 84% year-on-year to 4.5 trillion yen in fiscal 2023

Recently, Toyota announced that it expects its consolidated net profit (International Accounting Standards) for fiscal year 2023 (ending March 2024) to increase by 84% year-on-year to 4.5 trillion yen (approximately RMB 21.89 billion).

This is also the first time that Toyota has raised its net profit forecast to 4 trillion yen. Toyota said that price increases brought about by improved car functions, increased production and a depreciation of the yen will contribute to its performance.

In addition, Toyota also expects sales to increase by 17% to 43.5 trillion yen in fiscal 2023; operating profit to increase by 80% to 4.9 trillion yen, exceeding the average analyst forecast of 4.7187 trillion yen.

Toyota's estimated share price rose after the release of its financial report, making it the first Japanese company to have a total market value of more than 50 trillion yen (about 243.26 billion yuan).

On the same day, Toyota's financial report for April-December 2023 showed that sales increased by 24% to 34.0227 trillion yen; net profit increased by 2.1 times to 3.9472 trillion yen.

Operating profit increased 2.0 times to 4.2402 trillion yen, becoming the first Japanese company to exceed 4 trillion yen.

Zikuai Technology