TOKYO (dpa-AFX) - Toyota Motor Corp. (TYT.L, TM), a Japanese auto major, on Wednesday registered a decline in net profit for the first half, amidst higher costs and expenses. However, the company posted a rise in revenue, helped by the performance of all segments.
For the six-month period to September 30, the company posted a net profit of 1.907 trillion yen or 142.15 yen per share, lesser than 2.589 trillion yen or 191.26 yen per share, registered for the same period last year.
Pre-tax income was at 2.732 trillion yen as against previous year's 3.521 trillion yen.
Operating income fell to 2.464 trillion yen from 2.559 trillion yen a year ago.
Total costs and expenses moved up to 20.818 trillion yen from 19.422 trillion yen of previous year.
Share of profit of investments accounted for using the equity method slipped to 264.315 billion yen from prior year's 378.530 billion yen.
Other finance costs stood at 53.694 billion yen, higher than 44.300 billion yen a year ago.
Foreign exchange loss was 226.811 billion yen, compared with a gain of 299.376 billion yen in 2023.
Consolidated vehicle unit sales decreased by 188000 units, or 4 percent, to 4.556 million units, year-over-year basis.
Revenue, however, improved to 23.282 trillion yen from previous year's 21.981 trillion yen.
Looking ahead, for the full year, the company still expects net profit of 3.570 trillion yen, with an operating income of 4.300 trillion yen, on revenue of 46 trillion yen.
Toyota also anticipates basic earnings per share of 268.77 yen, for the year.
However, the company now projects annual income before Income taxes of 4.980 trillion yen, lower than prior expectation of 5.070 trillion yen.
For the full year, the auto major aims to pay a total dividend of 90 yen per share, higher than last year's 75 yen per share.
The company now expects annual consolidated vehicles sales of 9.400 million units against prior guidance of 9.500 million units.
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