Toyota Motor Regulatory News (TYT)

6 Feb 2007 09:00

Toyota Motor Corporation06 February 2007 For immediate release February 6, 2007 Toyota Announces Third Quarter Financial Results Net Revenues, Operating Income and Net Income Reach New Records for the third quarter (All consolidated financial information has been prepared in accordance with accounting principles generally accepted in the United States of America) Tokyo-TOYOTA MOTOR CORPORATION (TMC) today announced operating results for thethird quarter ended December 31, 2006. On a consolidated basis, net revenues for the period totaled 6.15 trillion yen,an increase of 15.2 percent compared to the same period last year. Operatingincome increased 19.2 percent to 574.7 billion yen, while income before incometaxes, minority interest and equity in earnings of affiliated companies was615.9 billion yen. Net income increased 7.3 percent to 426.7 billion yen. Positive contributions to operating income totaled 170.0 billion yen, consistingof 120.0 billion yen from marketing efforts, 30.0 billion yen from the effectsof changes in foreign exchange rates and 20.0 billion yen from cost reductionefforts. Negative factors totaled 77.5 billion yen, including an increase in R&D expenses of 21.6 billion yen. Commenting on the results, TMC Senior Managing Director Takeshi Suzuki said, "Asfor the third quarter consolidated results, Toyota posted record results in netrevenues, operating income and net income. We believe our company wide effortshave contributed to these results." Consolidated vehicle sales for the period reached 2.155 million, an increase of175 thousand units over the same period last year. In Japan, vehicle sales decreased by 30 thousand over the same period last year,to 541 thousand units. While sales of certain existing models declined, salesof redesigned models such as the Corolla and Estima and new models such as theAuris and Lexus LS were favorable. Toyota's market share excludingmini-vehicles grew by 1.3 percent compared with the same period last year, to47.5 percent. Operating income from Japanese operations increased by 102.4billion yen over the same period last year, to 383.5 billion yen, mainly due toan increase in production volume and exports. In North America, vehicle sales reached 764 thousand, an increase of 121thousand units, due to strong sales of redesigned models such as the RAV4, Camryand Yaris and the new model FJ Cruiser. Operating income decreased by 28.7billion yen, to 99.1 billion yen. This is mainly due to temporary expenses suchas costs associated with the start up of the Texas plant. In Europe, led by strong sales of compact models such as the Yaris, vehiclesales increased by 60 thousand, to 306 thousand units. Operating income fromEuropean operations increased by 8.2 billion yen, to 34.8 billion yen. Theincrease in operating income was mainly due to increases in both productionvolume and vehicle units sold. In Asia, sales decreased by 13 thousand, to 204 thousand units, as a result ofweakened market conditions in Indonesia and Taiwan. Operating income from Asianoperations decreased by 10.5 billion yen, to 28.1 billion yen, as a result ofdecreases in both production and sales volume. In other regions, including Central and South America, Oceania and Africa,vehicle sales increased to 340 thousand units, an increase of 37 thousand, dueto continuing popularity of the IMV series in Central and South America and theCamry in Oceania. Operating income in these regions increased by 16.3 billionyen, to 31.0 billion yen. TMC estimates that the projected consolidated vehicle sales for the fiscal yearending March 31, 2007 will be 8.470 million units, which is unchanged from TMC'sforecast announced in November 2006. Consolidated revenues and earningsforecast for the fiscal year also remain unchanged, with consolidated netrevenues of 23.2 trillion yen, operating income of 2.20 trillion yen and netincome of 1.55 trillion yen. Foreign exchange rate assumptions for the fullyear are now 116 yen against US dollar and 147 yen against Euro, based on theactual rates in first three quarters. (Please see attached information for details on financial results. Furtherinformation is also available on the Internet at www.toyota.co.jp) Paste the following link into your web browser to download the PDF document related to this announcement: http://www.rns-pdf.londonstockexchange.com/rns/7711q_-2007-2-6.pdf Cautionary Statement with Respect to Forward-Looking Statements This release contains forward-looking statements that reflect Toyota's plans andexpectations. These forward-looking statements are not guarantees of futureperformance and involve known and unknown risks, uncertainties and other factorsthat may cause Toyota's actual results, performance, achievements or financialposition to be materially different from any future results, performance,achievements or financial position expressed or implied by these forward-lookingstatements. These factors include: (i) changes in economic conditions andmarket demand affecting, and the competitive environment in, the automotivemarkets in Japan, North America, Europe and other markets in which Toyotaoperates; (ii) fluctuations in currency exchange rates, particularly withrespect to the value of the Japanese yen, the U.S. dollar, the Euro, theAustralian dollar and the British pound; (iii) Toyota's ability to realizeproduction efficiencies and to implement capital expenditures at the levels andtimes planned by management; (iv) changes in the laws, regulations andgovernment policies in the markets in which Toyota operates that affect Toyota'sautomotive operations, particularly laws, regulations and policies relating totrade, environmental protection, vehicle emissions, vehicle fuel economy andvehicle safety, as well as changes in laws, regulations and government policiesthat affect Toyota's other operations, including the outcome of futurelitigation and other legal proceedings; (v) political instability in the marketsin which Toyota operates; (vi) Toyota's ability to timely develop and achievemarket acceptance of new products; and (vii) fuel shortages or interruptions intransportation systems, labor strikes, work stoppages or other interruptions to,or difficulties in, the employment of labor in the major markets where Toyotapurchases materials, components and supplies for the production of its productsor where its products are produced, distributed or sold. A discussion of these and other factors which may affect Toyota's actualresults, performance, achievements or financial position is contained inToyota's annual report on Form 20-F, which is on file with the United StatesSecurities and Exchange Commission. This information is provided by RNS The company news service from the London Stock Exchange