Toyota Announces Record Third Quarter Operating Results

While vehicle sales in North America were down about 8,000 units, sales for the new Toyota Tundra and fuel efficient models such as the Toyota Prius were strong.

Toyota Motor Corporation (TMC) today announced operating results for the third quarter ended December 31, 2007.

On a consolidated basis, net revenues for the third quarter totaled 6.71 trillion yen, an increase of 9.2 percent compared to the same period last fiscal year. Operating income increased 4.7 percent to 601.5 billion yen, while income before income taxes, minority interest and equity in earnings of affiliated companies was 652.7 billion yen. Net income increased by 7.5 percent to 458.6 billion yen.

Positive contributions to operating income totaled 140.0 billion yen, consisting of 100.0 billion yen from marketing efforts and 40.0 billion yen from cost reduction efforts. Negative factors totaled 113.2 billion yen.

Commenting on the results, Takeshi Suzuki, TMC Senior Managing Director, said, “For this period, we posted our highest ever quarterly results for the third quarter in both revenues and profits, despite the severe business environment. Operating income has become more equally balanced among the regions, with significant higher contribution from growing markets, specifically emerging and resource-rich countries. We believe our record high financial results can be attributed to Toyota’s growth strategy of utilizing every opportunity across the full product line-up and all regions. “

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