Toyota expects increasing income for the fiscal 2020

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Toyota increases income again


 Toyota Motor Corporation announced on February 6 that its consolidated net income for the fiscal year ending March 2020 is likely to rise 25% year-on-year to 2,350 billion yen. 
Toyota expects increasing income for the fiscal 2020

The financial results which have been revised upward by 200 billion yen from the previous forecast showed Toyota’s impeccable profitability again. 
Toyota expects increasing income for the fiscal 2020

 Net profit for the current term from last October to December was 738 billion yen. The weaker yen has helped results to exceed market expectations. 

 The company forecasts the full-year consolidated sales to reduce 20,000 units in Asia while expects 20,000 more units in North America. 

 As for Japanese domestic sales, it remained unchanged at 2.24 million units despite of concerns of falling demand after the consumption tax hike. 

 The decrease sales in Asia is considered to reflect the slowdown in the automotive market, especially in Thailand. 

 An executive of Toyota said that the impact of the spread of the novel pneumonia was not taken into account in the earnings forecast. If stagnation in the parts supply chain prolongs it will have a negative effect on future sales.

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