TOYOTA CITY, Japan (May 12, 2021) — Toyota Motor Corporation (TMC) today announced its financial results for the fiscal year which ended March 31, 2021.
Consolidated vehicle sales totaled approximately 7,646,000 units, a decrease of approximately 1,309,000 units compared to the same period last fiscal year. On a consolidated basis, net revenues for the period totaled 27.2145 trillion yen ($256.7 billion), a decrease of 8.8%. Operating income decreased from 2.3992 trillion yen ($22.6 billion) to 2.1977 trillion yen ($20.7 billion), while income before income taxes1 was 2.9323 trillion yen ($27.6 billion). Net income2 increased from 2.0361 trillion yen ($19.2 billion) to 2.2452 trillion yen ($21.1 billion).
Regions
North America: Vehicle sales totaled approximately 2,313,000 units, a decrease of 400,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 91.8 billion yen ($866.0 million) to 362.7 billion yen ($3.4 billion).
Japan: Vehicle sales totaled approximately 2,125,000 units, a decrease of 115,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 435.1 billion yen ($4.1 billion) to 1.1507 trillion yen ($10.8 billion).
Europe: Vehicle sales totaled approximately 959,000 units, a decrease of 70,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 19.5 billion yen ($183.9 million) to 114.4 billion yen ($1.0 billion).
Asia: Vehicle sales totaled approximately 1,222,000 units, a decrease of 378,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 56.8 billion yen ($535.8 million) to 436.2 billion yen ($4.1 billion).
Other regions (including Central and South America, Oceania, Africa, and the Middle East): Vehicle sales totaled approximately 1,027,000 units, a decrease of 345,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, decreased by 11.3 billion yen ($106.6 million) to 64.8 billion yen ($611.3 million).
Financial Services
Financial services operating income increased by 169.8 billion yen ($1.6 billion) to 470.3 billion yen ($4.4 billion). Including valuation gains/losses, operating income increased by 221.8 billion yen ($2.0 billion) to 495.5 billion yen ($4.6 billion).
(*all currency translations above are approximate and based on an average 106-yen-to-dollar exchange rate.)
Forecast
For the fiscal year ending March 31, 2022, TMC estimates consolidated vehicles sales will be 8.7 million units. Based on an exchange rate assumption of 105 yen to the U.S. dollar, TMC forecasts consolidated net revenue of 30.0 trillion yen ($285.7 billion), operating income of 2.5 trillion yen ($23.8 billion), income before income taxes of 3.110 trillion yen ($29.6 billion), and net income of 2.3 trillion yen ($21.9 billion).
(*all currency translations above are approximate and based on an average 105-yen-to-dollar exchange rate.)
1Income before income taxes and equity in earnings of affiliated companies
2Net income attributable to Toyota Motor Corporation
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(All consolidated financial information has been prepared in accordance with
International Financial Reporting Standards (IFRS))
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