3rd Aug 2007 09:00
Toyota Motor Corporation03 August 2007 For immediate release August 3, 2007 Toyota Announces Record First Quarter Operating Results (All consolidated financial information has been prepared in accordance with accounting principles generally accepted in the United States) Tokyo - TOYOTA MOTOR CORPORATION (TMC) today announced operating resultsfor the first quarter ended June 30, 2007. On a consolidated basis, net revenues for the first quarter totaled 6.52trillion yen, an increase of 15.7 percent compared to the same period lastfiscal year. Operating income increased 31.8 percent to 675.4 billion yen, whileincome before income taxes, minority interest and equity in earnings ofaffiliated companies was 739.0 billion yen. Net income increased by 32.3percent to 491.5 billion yen. Positive contributions to operating income totaled 220.0 billion yen, consistingof 100.0 billion yen from marketing efforts, 100.0 billion yen from changes inforeign exchange rates and 20.0 billion yen from cost reduction efforts.Negative factors totaled 57.0 billion yen. Commenting on the results, Takeshi Suzuki, TMC Senior Managing Director, said,"We posted substantial increases in both revenues and profits, our highest everquarterly results. Operating income showed a steep increase of 163.0 billion yencompared with the first quarter of the previous fiscal year, due to improvedmarketing efforts, including higher sales volume and improvement in the productmix, and cost reduction efforts which offset higher raw material costs." Consolidated vehicle sales for the first quarter amounted to 2.16 million units,an increase of 71 thousand units compared with the same period last fiscal year. In Japan, vehicle sales decreased by 43 thousand units, to 500 thousandvehicles. Operating income increased significantly by 103.6 billion yen to396.6 billion yen, due to an improvement in the product mix, including strongsales of the Lexus LS series, boosted by the introduction of the hybrid model inMay 2007, as well as an increase in domestic production to meet brisk overseasdemand. Vehicle sales in North America totaled 762 thousand units, an increase of 15thousand units. Operating income increased by 20.1 billion yen, to 160.2 billionyen. The successful launch of new models such as the Tundra and the Lexus LS,and strong sales of models with high fuel efficiency like Prius contributed tothe results. In Europe, sales increased by 25 thousand vehicles, to 333 thousand vehicles.Operating income increased by 2.0 billion yen, to 38.5 billion yen, due to thesuccessful launch of the Auris earlier this year, and continued steady sales ofthe Yaris and the Aygo. Sales in Asia increased by 29 thousand vehicles to 222 thousand vehicles. Salesvolume is steadily increasing, mainly in Indonesia, and the South East Asianmarket in general showed signs of continuing recovery. As a result, operatingincome in the region increased by 19.6 billion yen, to 49.6 billion yen. Ourconsolidated subsidiaries in China also contributed to the increase. In the other regions including Africa, Oceania and South and Central America,sales reached 345 thousand vehicles, an increase of 45 thousand units. Operatingincome totaled 38.6 billion yen, a considerable increase of 22.7 billion yen. TMC estimates that the projected consolidated vehicle sales for the fiscal yearending March 31, 2008 will be 8.89 million units, which is unchanged from TMC'sinitial forecast announced in May 2007. The company's consolidated revenues andearnings forecast for the fiscal year also remains unchanged, with consolidatednet revenues of 25.0 trillion yen, operating income of 2.25 trillion yen and netincome of 1.65 trillion yen. (Please see attached information for details on financial results. Furtherinformation is also available on the Internet at www.toyota.co.jp) Paste the following link into your web browser to download the PDF document related to this announcement: http://www.rns-pdf.londonstockexchange.com/rns/4835b_-2007-8-3.pdf Cautionary Statement with Respect to Forward-Looking Statements This release contains forward-looking statements that reflect Toyota's plans andexpectations. These forward-looking statements are not guarantees of futureperformance and involve known and unknown risks, uncertainties and other factorsthat may cause Toyota's actual results, performance, achievements or financialposition to be materially different from any future results, performance,achievements or financial position expressed or implied by these forward-lookingstatements. These factors include: (i) changes in economic conditions andmarket demand affecting, and the competitive environment in, the automotivemarkets in Japan, North America, Europe and other markets in which Toyotaoperates; (ii) fluctuations in currency exchange rates, particularly withrespect to the value of the Japanese yen, the U.S. dollar, the euro, theAustralian dollar and the British pound; (iii) Toyota's ability to realizeproduction efficiencies and to implement capital expenditures at the levels andtimes planned by management; (iv) changes in the laws, regulations andgovernment policies in the markets in which Toyota operates that affect itsautomotive operations, particularly laws, regulations and government policiesrelating to trade, environmental protection, vehicle emissions, vehicle fueleconomy and vehicle safety, as well as changes in laws, regulations andgovernment policies that affect Toyota's other operations, including the outcomeof future litigation and other legal proceedings; (v) political instability inthe markets in which Toyota operates; (vi) Toyota's ability to timely developand achieve market acceptance of new products; and (vii) fuel shortages orinterruptions in transportation systems, labor strikes, work stoppages or otherinterruptions to, or difficulties in, the employment of labor in the majormarkets where Toyota purchases materials, components and supplies for theproduction of its products or where its products are produced, distributed orsold. A discussion of these and other factors which may affect Toyota's actualresults, performance, achievements or financial position is contained inToyota's annual report on Form 20-F, which is on file with the United StatesSecurities and Exchange Commission. # # # Contact: Public Affairs Division at (03) 3817-9150/9161/9130/9322 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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