TOKYO (dpa-AFX) - Toyota Motor Corp. (TYT.L, TM), a Japanese auto major, reported that its net income attributable to the company for the third quarter increased to 2.19 trillion yen from 1.36 trillion yen in the prior year.
But operating income for the quarter was 1.22 trillion yen down from 1.68 trillion yen in the previous year.
Sales revenues for the quarter grew to 12.39 trillion yen from 12.04 trillion yen last year.
Looking ahead for fiscal year 2025, the company now projects net income attributable to the company to be 4.52 trillion yen or 340.87 yen per basic share, operating income of 4.70 trillion yen and sales revenues of 47.00 trillion yen. Previously, the company expected annual net income attributable to the company to be 3.57 trillion yen, operating income of 4.30 trillion yen and sales revenues of 46.00 trillion yen.
Consolidated vehicle unit sales in Japan and overseas decreased by 295 thousand units, or 4.0%, to 7,000 thousand units in first nine months of fiscal year 2025 from the prior year.
Vehicle unit sales in Japan decreased by 175 thousand units, or 10.8%, to 1,454 thousand units in first nine months of fiscal year 2025 compared with the prior year. Overseas vehicle unit sales decreased by 119 thousand units, or 2.1%, to 5,546 thousand units in fiscal year 2025 first nine months compared with fiscal year 2024 first nine months.
The company said it plans to open a test course for the transformation into a mobility company this fall.
The company has decided to establish a wholly-owned company for the development and production of Lexus BEVs and batteries in Shanghai, China.
The new company is planning to start production after 2027 with annual production capacity of approximately 100,000 and about 1,000 new jobs.
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