Toyota Motor Corporation Achieves Record-Breaking 5 Trillion Yen Operating Profit, a First for a Japanese Company

Toyota Motor Corporation's operating profit for the fiscal year ended March 2023 reached approximately 5.3529 trillion yen, marking the first time a Japanese company has exceeded 5 trillion yen. This record-high performance was driven by strong global sales of hybrid vehicles throughout the past year.

Revenue increased by 21.4% year-on-year to approximately 45.0953 trillion yen, and net income surged 101.7% to approximately 4.9449 trillion yen, making Toyota the first domestic manufacturer to surpass 4 trillion yen. However, its net income for the fiscal year fell short of SoftBank Group's approximately 4.9879 trillion yen.

Meanwhile, Toyota projected a 19.7% decrease in operating profit to 4.3 trillion yen and a 27.8% decline in net income to 3.57 trillion yen for the fiscal year ending March 2024. While the company anticipates a slight decrease in profitability due to factors such as increased investment in human resources, it expects sales volume to continue rising, primarily driven by hybrid vehicles.

Furthermore, Toyota announced a share buyback program with a limit of 1 trillion yen. The company's consolidated global sales for the fiscal year ended March 2023 reached approximately 11.09 million units, and production totaled approximately 11.21 million units, marking the third consecutive year of record highs. Additionally, Toyota's global sales surpassed 10 million units for the first time.