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Toyota Industries fiscal Q2 profit climbs 7.9% YOY

Toyota Industries Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥64.56 per share, an increase of 7.8% from ¥59.88 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥20.28 billion, a gain of 7.9% from ¥18.81 billion in the year-earlier period.

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

Total revenue increased 6.5% on an annual basis to ¥559.20 billion from ¥524.90 billion, and total operating expenses climbed 5.6% from the prior-year period to ¥521.45 billion from ¥493.73 billion.

Reported net income increased on an annual basis to ¥21.57 billion, or ¥68.67 per share, from ¥20.82 billion, or ¥66.29 per share.

As of Nov. 13, US$1 was equivalent to ¥122.78.