Net Profit Forecast

Toyota Motor is expected to announce its second-quarter results on Wednesday. Analysts predict that the company's net profit will more than double to 912.325 billion yen ($6.12 billion) for the three months ended Sept. 30. This is a significant increase compared to a net profit of Y434.26 billion in the same period last year.

Revenue Forecast

The second-quarter revenue is estimated to have grown by 15% from the previous year, reaching Y10.571 trillion.

Key Factors to Watch


Toyota Motor's first-quarter operating-profit margin showed improvement, rising to 10.6% from 6.8% in the previous year. This growth can be attributed to increased sales, higher selling prices, and the weakening of the yen. As the global automotive industry faces challenges due to high inflation, investors are closely monitoring any further improvements in margins.


For the fiscal year ending in March 2024, Toyota has projected an increase in vehicle sales of 7.8%, reaching 11.4 million units. The company also expects revenue to grow by 2.3% to Y38.000 trillion and net profit to rise by 5.2% to Y2.580 trillion, including subsidiaries Daihatsu Motor and Hino Motors. Investors are particularly interested in any potential adjustments to Toyota's annual guidance.

Electric Vehicles (EV)

In Toyota's first quarter, electric vehicles, including hybrid cars, accounted for 34% of total car sales, up from 29% the previous year. The company sold approximately 29,000 battery EVs during the same period, a significant increase from about 4,000 units sold the previous year. Investors are closely monitoring the pace of growth in EV sales and any initiatives related to this segment.

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