The world’s largest car company Toyota After the past quarter, despite numerous problems at its subsidiaries, it increased its profit plans for the year as a whole. The Japanese expect an annual operating profit of 4.9 trillion yen (30.7 billion euros), as Toyota announced on Tuesday. So far they had only budgeted 4.5 trillion. Analysts had previously only expected 4.7 trillion. The bottom line is that there should now be 4.5 trillion yen left as profit. That is 550 billion yen more than management had previously expected.
This is also the case when it comes to sales Volkswagen-Competitor is a little more optimistic, although the sales forecast has changed due to one Production standstill at the troubled subsidiary Daihatsu decreased slightly to a total of 11.2 million vehicles. Toyota shares rose noticeably in response to the report and recently gained 4.8 percent to 3,135 yen (around 19.60 euros) on the Tokyo Stock Exchange.
Shareholders have been able to look forward to a good run for some time. In the spring of last year the price was still trading at around 1,800 yen, but since then it has increased by around three quarters. For comparison: Volkswagen preferred shares listed in the Dax more or less stood still during this period.
Operating profit increases significantly
In the third fiscal quarter (ended December), operating profit rose by three quarters to 1.7 trillion yen. That was significantly more than experts estimated. Sales rose by a good 4 percent to 2.6 million vehicles, and revenues climbed by almost a quarter to twelve trillion yen. The bottom line was an increase of 87 percent to 1.4 trillion yen in profits.
Toyota is currently struggling with some difficulties. In December, the subsidiary Daihatsu stopped all vehicle deliveries because new irregularities were discovered in dozens of models after problems with door panels and side impact tests had already been identified in the spring. In an important market USA The company recalled one million Toyota and Lexus vehicles – because of problems with the airbag. Due to abnormalities in engine performance tests, the company also stopped deliveries of some diesel models at the end of January.
There is trouble at the truck subsidiary Hino over incorrect data on exhaust gases and fuel consumption. Toyota CEO Koji Sato (54), who has been in office since last year, now wants to present plans in mid-February as to how the company would like to tackle and process the many construction sites.