FX.co ★ Toyota FY24 Profit Climbs, To Buy Back Up To 1 Tln Yen Of Shares; Sees Lower FY25 Profit

Toyota Motor Corp., a prominent Japanese automaker, has reported a surge in its net earnings for the fiscal year ending March 31, 2024. The income attributable to the company rose to 4.94 trillion yen or 365.94 yen per share, a significant increase from 2.45 trillion yen or 179.47 yen per share in the previous fiscal year.

The corporation announced it would augment the year-end dividend to 45 yen per share, marking a 10 yen increase from last year. Accordingly, the annual dividend is set at 75 yen, amounting to over 1 trillion yen.

In terms of share buybacks, Toyota has reserved a maximum limit of 1 trillion yen and has taken steps to cancel 520 million shares. These shares correspond to 2 trillion yen worth of treasury shares.

The auto behemoth also provided insight into its projections for the fiscal year ending March 31, 2025. It anticipates consolidated vehicle sales to reach 9.5 million units, which equates to 100.6% of the previous fiscal year's sales. However, they predict a downturn in sales volume chiefly at Daihatsu, their subsidiary in Japan. The projected sales of electrified vehicles are predicted to total 4,827,000 units, comprising 46.4% of all sales.

For the fiscal year ending March 31, 2025, Toyota anticipates a 2.0% increase in sales revenue, reaching 46.00 trillion yen. However, the operating income is expected to be 4.30 trillion yen, marking a decrease of 19.7% from the previous year. The projected net income attributable to the company is set at 3.57 trillion yen, which is down by 27.8% from the previous fiscal year.

In the year 2024, Toyota’s operating income was 5.35 trillion yen, an increase from the prior year's income of 2.73 trillion yen. Total sales revenue for the same year climbed to 45.10 trillion yen, which is a significant rise from 37.15 trillion yen in the previous year.

The year 2024 also saw an increase in consolidated vehicle unit sales in Japan and overseas by 621,000 units or 7.0%, equating to 9.443 million units. This compares to the fiscal year 2023. However, there was a slight 3.7% decrease of 76,000 units to 1.993 million units in Japan's vehicle sales. Conversely, overseas vehicle unit sales saw a substantial increase of 697,000 units or 10.3%, accounting for 7.45 million units.