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Toyota Industries fiscal Q1 profit climbs 43.4% YOY

Toyota Industries Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥151.60 per share, an increase of 45.1% from ¥104.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥47.07 billion, an increase of 43.4% from ¥32.83 billion in the year-earlier period.

The normalized profit margin climbed to 10.6% from 6.2% in the year-earlier period.

Total revenue fell 15.9% on an annual basis to ¥445.39 billion from ¥529.79 billion, and total operating expenses decreased 20.0% from the prior-year period to ¥401.16 billion from ¥501.67 billion.

Reported net income increased 45.3% year over year to ¥59.95 billion, or ¥193.08 per share, from ¥41.27 billion, or ¥131.33 per share.

As of Aug. 10, US$1 was equivalent to ¥109.48.