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Toyota Motor fiscal Q1 profit climbs 10.3% YOY

Toyota Motor Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥166.03 per share, an increase of 10.3% from ¥150.59 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥526.51 billion, a gain of 10.3% from ¥477.41 billion in the year-earlier period.

The normalized profit margin climbed to 8.2% from 7.6% in the year-earlier period.

Total revenue grew on an annual basis to ¥6.391 trillion from ¥6.255 trillion, and total operating expenses increased year over year to ¥5.698 trillion from ¥5.592 trillion.

Reported net income grew from the prior-year period to ¥587.76 billion, or ¥185.34 per share, from ¥562.15 billion, or ¥177.32 per share.

As of Aug. 29, US$1 was equivalent to ¥103.87.