TOYOTA CITY, Japan (August 3, 2018)—Toyota Motor Corporation (TMC) today announces
its financial results for the first quarter ended June 30, 2018.

Global
Consolidated vehicle sales for the first quarter totaled 2,236,131 units, an increase of 21,020 units compared to the same period last fiscal year. On a consolidated basis, net revenues for the period totaled 7.3627 trillion yen (*$67.54 billion), an increase of 4.5 percent. Operating income increased from 574.2 billion yen (*$5.26 billion) to 682.6 billion yen (*$6.26 billion), while income before income taxes¹ was 813.8 billion yen (*$7.46 billion). Net income² increased from 613.0 billion yen (*$5.62 billion) to 657.3 billion yen (*$6.03 billion).

Operating income increased by 108.3 billion yen (*$993.57 million). Major factors contributing to the increase included a decrease in expenses of 60 billion yen (*$550.45 million) and an increase of 45 billion yen (*$412.84 million) in marketing activities.

Commenting on the results, TMC Senior Managing Officer Masayoshi Shirayanagi said: “As for the fixed cost reduction activities, we are steadily making progress toward achieving our challenge-level target, which we are determined to achieve by the end of this fiscal year through further efforts across regions.”

Regions

• North America: Vehicle sales totaled 746,135 units, an increase of 22,516 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 10.4 billion yen (*$95.41 million) to 78.3 billion yen (*$718.34 million).

 

• Japan: Vehicle sales totaled 510,339 units, a decrease of 33,884 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 76.2 billion yen (*$699.08 million) to 396.1 billion yen (*$3.63 billion).

 

• Europe: Vehicle sales totaled 252,639 units, an increase of 12,295 units, while operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 2.6 billion yen (*$23.85 million) to 23.1 billion yen (*$211.92 million).

 

• Asia: Vehicle sales totaled 394,229 units, an increase of 31,575 units, while operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 39.3 billion yen (*$360.55 million) to 142.2 billion yen (*$1.30 billion).

 

• Other regions (including Central and South America, Oceania, Africa, and the Middle East): Vehicle sales totaled 332,789 units, a decrease of 11,482 units, while operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 1.5 billion yen (*$13.76 million) to 41.0 billion yen (*$376.14 million).

Financial Services
Financial services operating income decreased by 1.7 billion yen (*$15.59 million) to 73.5 billion yen (*$674.31 million), including a loss of 8.7 billion yen (*$79.81 million) in valuation gains/losses from interest rate swaps. Excluding valuation gains/losses, operating income increased by 7.1 billion yen (*$65.13 million) to 82.2 billion yen (*$754.12 million).

(*all currency translations above are approximate and based on an average 109-yen-to-dollar exchange rate).

For the fiscal year ending March 31, 2019, TMC revised its consolidated vehicle sales forecast from 8.95 million units to 8.9 million units, in consideration of the latest sales trends worldwide.

TMC maintains the consolidated financial forecasts for the fiscal year. Based on an exchange rate assumption of 106 yen to the U.S. dollar and 126 yen to the euro, TMC now forecasts consolidated net revenue of 29.0 trillion yen (*$273.58 billion), operating income of 2.30 trillion yen (*$21.69 billion), income before income taxes of 2.45 trillion yen (*$23.11 billion), and net income of 2.12 trillion yen (*$20.00 billion).

(*all currency translations above are approximate and based on an average 106-yen-to-dollar exchange rate).

¹Income before income taxes and equity in earnings of affiliated companies
²Net income attributable to Toyota Motor Corporation

For more information, click here.