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Toyota Industries fiscal Q1 profit climbs 37.6% YOY

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Toyota Industries fiscal Q1 profit climbs 37.6% YOY

Toyota Industries Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥105.86 per share, an increase of 37.2% from ¥77.17 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥33.25 billion, a gain of 37.6% from ¥24.17 billion in the year-earlier period.

The normalized profit margin increased to 6.4% from 5.0% in the year-earlier period.

Total revenue increased 7.1% on an annual basis to ¥521.17 billion from ¥486.74 billion, and total operating expenses climbed 7.0% from the prior-year period to ¥495.55 billion from ¥462.93 billion.

Reported net income rose 43.6% from the prior-year period to ¥40.15 billion, or ¥127.81 per share, from ¥27.95 billion, or ¥89.27 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.