Toyota recorded an operating income of 3.6794 trillion yen.
In the previous year, the same period coincided with the industry’s recovery from chip shortages, resulting in high production volumes.
By contrast, this year’s certification issues have led to a decrease. Combined with factors such as one-time expenses related to Hino Motors in the U.S. and additional investments in personnel, the third quarter saw income decline by 560.7 billion yen.
Despite this, the company was able to maintain a high level of income thanks to steady improvement efforts in the genba, including suppliers and dealers.
*Net income rose by 153.1 billion yen, including a one-time gain resulting from the revision of accounting procedures related to foreign currency holdings.
Toyota forecasts a year-end operating income of 4.7 trillion yen. The figure has been adjusted upward by 400 billion yen since the previous announcement in November, despite sales volumes remaining unchanged, thanks to improvements brought about by price revisions, controlling sales incentives, and increasing value chain earnings.
Executive Vice President Yoichi Miyazaki explained Toyota’s earning power, saying, “It is driven by our production levels recovering and stabilizing, our ability to keep delivering highly attractive products through ever-better carmaking, and the fact that different countries and regions continue to learn from each other and engage in activities that bring smiles to our customers’ faces.”