TOKYO -- Toyota Motor Corp. smashed earnings records across the board in the latest fiscal year, racking all-time highs for revenue, operating profit and net income even as it battled the ongoing COVID-19 pandemic and global semiconductor shortage.
Operating profit climbed 36 per cent to 3 trillion yen (US$24.61 billion) in the fiscal year ended March 31, topping the previous high from the fiscal year ended March 31, 2016. Toyota booked a robust operating profit margin of 9.5 per cent, up from 8.1 per cent the year before.
In announcing its earnings results on Wednesday, the world’s largest automaker said full fiscal year net income increased 27 per cent to 2.85 trillion yen (US$23.38 billion), while revenue grew 15 per cent to 31.38 trillion yen (US$257.42 billion). Both those totals chalked new records for Toyota as well.
Global sales advanced 7.6 per cent to 8.23 million vehicles in the fiscal year. The consolidated sales figure covers deliveries for the Lexus and Toyota brands, as well as Daihatsu and Hino.