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Toyota Industries fiscal Q2 profit climbs 17.3% YOY

Toyota Industries Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥59.88 per share, an increase of 17.0% from ¥51.17 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.81 billion, an increase of 17.3% from ¥16.03 billion in the prior-year period.

The normalized profit margin rose to 3.6% from 3.2% in the year-earlier period.

Total revenue rose 6.1% year over year to ¥524.90 billion from ¥494.67 billion, and total operating expenses rose 5.8% from the prior-year period to ¥493.73 billion from ¥466.67 billion.

Reported net income increased 33.7% from the prior-year period to ¥20.82 billion, or ¥66.29 per share, from ¥15.58 billion, or ¥49.70 per share.

As of Nov. 13, US$1 was equivalent to ¥115.76.